1694 the “Old Lady” of Threadneedle Street The Bank of England is the central bank of the United Kingdom. Sometimes known as the “Old Lady” of Threadneedle Street, the Bank was founded in 1694 with a founding charter that stated its purpose was to “promote the public good and benefit of our people”. The Bank of England’s purpose today reflects that vision first articulated by our founders. Our mission: to promote the good of the people of the United Kingdom by maintaining monetary and financial stability. Business Tesco’s chief hits out as profit warning hits shares The new boss of Tesco has attacked his predecessors for adopting “artificial” tactics to hit aggressive profit targets in the final few months of each financial year. Tesco’s shares plunged by 10 per cent to 168p on a warning this morning that the chain’s profit for the year to February will be no more than £1.4 billion, well short of the £1.94 billion that investors had been anticipating.
ONS Home Output in the Construction Industry, November 2015 In November 2015, output in the construction industry was estimated to have decreased by 0.5% compared with October 2015. All new work was the largest contributor to the fall, decreasing by 0.7%, with repair and maintenance (R&M) falling 0.2%. Index of Production, November 2015 2013 Mark Carney Governor of the Bank Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012. The Governor joined the Bank on 1 July 2013. In addition to his duties as Governor of the Bank of England, he serves as Chairman of the Financial Stability Board (FSB), First Vice-Chair of the European Systemic Risk Board, a member of the Group of Thirty and the Foundation Board of the World Economic Forum.
Virtual Economy Home page of the Virtual Economy on Biz/ed. Virtual Economy Home Page Welcome to the Biz/ed / Institute for Fiscal Studies (IFS) Virtual Economy. David Smith's EconomicsUK.com Austerity myths revisited Posted by David Smith at 01:00 PM Category: Thoughts and responses My piece on Friday, The Myth of Abandoned Austerity, has attracted quite a lot of interest. It had a simple aim - to demonstrate that fiscal consolidation, deficit reduction, continued throughout the parliament, alongside recovery. Ed Miliband promises £2.5bn funding boost 'to save NHS' 23 September 2014Last updated at 12:27 ET Ed Miliband: "It's time to care about our NHS" Ed Miliband has said a future Labour government would pay for 36,000 more doctors, nurses and midwives, partly funded by a tax on tobacco firms. The Labour leader told his conference the £2.5bn funding pledge to "save and transform" the NHS by 2020 would be the centrepiece of his plan for government.
Ministerial role Chancellor of the Exchequer George Osborne became Chancellor of the Exchequer in May 2010. He has been the Conservative MP for Tatton, Cheshire since June 2001. Education He was born and educated in London, studying modern history at Oxford University. Political career UK doctors have 'ethical duty' to prevent waste Doctors have an ethical duty to prevent waste in the NHS, argues a report by the Academy of Medical Royal Colleges. Its authors point to potential cost savings of nearly £2bn. Examples include better use of medication, tests, hospital beds and operating theatres. The British Medical Association said doctors were ideally placed to identify savings, but patients must come first. Adam Brimelow reports.
'Top Christmas toys' in pictures 5 November 2014Last updated at 08:12 ET Dolls, Lego and variations of new technology all feature in a list of predicted bestselling toys this Christmas. The annual Dream Toys chart, from the Toy Retailers Association, features toys ranging in price from £7.99 mini-figures to a £99.99 dinosaur. Toys that have featured on the industry group's list in previous decades have included drawing set Spirograph in 1967 and the Nintendo Game Boy games console in 1991.
Why Time Seems to Speed Up as We Get Older: What the Research Says No matter what age we’ve attained, we can think back to childhood and feel just how agonizingly long it then took for Christmas to come, for the school day to end, for a tray of cookies to come out of the oven. Mysterious as this apparent change in the speed of time may at first seem, it actually makes a kind of intuitive sense: one day represents, at the age of fifty, a tenth of the proportion of the time we’ve experienced so far than it does at the age of five. As our timeline lengthens, our perception of certain fixed units on that timeline — a minute, a year, a decade — shortens.
HM Treasury In english The Treasury building viewed from St. James' Park The new eastern entrance to HM Treasury HSBC tax claim sparks Labour v Conservative row 9 February 2015Last updated at 09:45 ET Mr Miliband has called for answers over the government's appointment of Stephen Green as a trade adviser The claims HSBC helped wealthy clients dodge UK taxes has sparked a political row, with Labour and the Conservatives set to clash in the Commons later. Labour leader Ed Miliband said the government had "some serious questions to answer" and accused HM Revenue & Customs of failing to act on details it was given in 2010 about the claims.