Results tagged “George Osborne”

Long-awaited new river crossings in east London moved closer after the Government pledged to work with Boris Johnson on exploring options including a tunnel linking North Greenwich and Silvertown.

The Mayor hailed Chancellor George Osborne's pledge yesterday to invest billions in London's infrastructure as "great news".

Newham has received enterprise zone status following an announcement in the Budget on Wednesday.

Chancellor George Osborne said he gave Mayor Boris Johnson the chance to select a site in London for the scheme, and he chose Newham for the role.

By Jim Fitzpatrick

So now we know that children will pay more to reduce the national deficit than the banks.

To rousing cheers from Tory MPs, the Chancellor announced the deepest cuts to the public realm for decades. Tens of thousands of families on child benefit will see their income cut by up to thousands of pounds.

Chancellor of the Exchequer George Osborne made a surprise visit to Canary Wharf this afternoon to give a public show of support to the Crossrail project.

Mr Osborne was joined by Mayor of London Boris Johnson for the trip, with the pair being shown new images of what the interior of Canary Wharf station will look like.

News that Crossrail has been spared a substantial funding cut in the Government's spending review has been welcomed in Canary Wharf.

George Osborne confirmed to Parliament this afternoon that cash for the link, which will pass through the Wharf, has been ringfenced.

By Tim Archer

The ramifications of last week's Budget will be felt for quite some time to come. The new Government has rightly prioritised reining in the budget deficit.

If the deficit had been left unchecked the financial crisis would have spiralled out of control.

Britain can expect a budget within 50 days should the Conservatives win the General Election.

David Cameron made the pledge at an event at Thomson Reuters in Canary Wharf this morning as he outlined the Tories' plans to bring the UK out the current economic slump.

Hector Sants is to leave his job as chief executive of the Financial Services Authority in the summer.

The Wharf-based financial watchdog announced today that Mr Sants will step down after three years in the job, a period which has seen increasing criticism of the FSA's regulatory role, particularly when the credit crunch hit the banking sector in 2008.

New transport minister Sadiq Khan believes Crossrail is too advanced to stop - but that the Tories could still cripple the scheme with cuts.

The Tooting MP checked on the progress of the £16billion scheme during his first official visit to Canary Wharf this morning, but was most keen to talk about whether the opposition would squeeze its budget if they assumed power.

The Financial Services Authority defended its role as a watchdog when its top brass faced the public this morning.

Lord Turner and Hector Sants, respectively chairman and chief executive of the Wharf-based regulator, were bullish about past performance and the FSA's future at the annual public meeting in the City.