UK ‘facing £20,000,000,000 tax hike’ to pay for Pandemic. The government could raise taxes by up to £20 billion in the next budget, it is claimed. Minister are looking raising capital gains tax and corporation tax, as well as slashing pension tax relief, according to reports. The Sunday Times said money could be clawed back from pensions, businesses, the wealthy, and foreign aid. It comes after the government spent billions to support workers, businesses and the NHS, for example with the furlough scheme and ‘Eat Out to Help out’. Chancellor Rishi Sunak is considering hiking corporation tax from 19% to 24% in order to boost revenue by £12 billion next year, the report indicated. Capital gains tax might also be paid at the same rate as income tax, under the ideas being looked at. Contact: Jason Gavin Email: jasongavin44@gmail.com Telephone/WhatsApp: + 44 7452 390049 Twitter: @JasonGa58390383
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End of BBC? Former No 10 advisor launches rival TV station to take on ‘woke’ Corporation. Sir Robbie Gibb, an ex-senior BBC executive and Theresa May’s former director of communications at Downing Street, is reportedly behind the project to raise money for GB News. The new station is due to launch early next year and aims to take advantage of the growing discontent of the BBC. Sources have described the new 24-hour station as an antidote to the “woke, wet” Corporation. The new station has already been given a licence by the broadcasting regulator Ofcom. Another rival project has also been constructed in the headquarters of Rupert Murdoch’s media company News UK. The BBC has faced a series of controversies over its decision last week to perform the songs Land of Hope And Glory and Rule Britannia without their patriotic lyrics at the Last Night Of The Proms. The TV projects are said to cause a rocky start for the BBC’s new director-general Tim Davie who starts his position on Tuesday. On
Bank of England to stay in emergency mode until recovery ensured, says Governor. The Bank of England will stick with its emergency policy setting until it is sure the economy’s recovery from the Covid-19 slump is more than a summer bounce, Threadneedle Street’s governor has said. Andrew Bailey told a symposium of fellow central bank governors that the Bank’s decision to “act big and act fast” during the early stages of the pandemic had proved an effective response to the market panic and economic lockdown. He said that the Bank’s nine-strong monetary policy committee would need a “stronger-than-usual body of evidence” before it would consider removing any of the stimulus provided over the past six months. Bailey, making a virtual appearance at the Jackson Hole gathering of central bankers, said the Bank would not raise interest rates or sell the assets it had purchased under its bond-buying programme, known as quantitative easing, until there was “significant progress” in eliminating
ARTICLE ON BANK GUARANTEE. Bank Guarantee: Bank Guarantee means a comfort, which is being given by issuing bank or financial service provider, to a party(Beneficiary in whose favour the guarantee is issued) of losses or damages if the Client (on whose behalf the guarantee is being issued) fails to complete or conform to the terms of agreement. By issuing the guarantee, the issuing bank or financial service provider is assuring payment of the certain amount of money (as specified in the bank guarantee) to the beneficiary in case of non-performance of a certain contract according to the terms and conditions contained in the same. By furnishing the Bank Guarantee, the buyer binds itself with the seller that it has an implied commitment to fulfill the terms and conditions of the agreed contract. If it fails to comply with the same, the bank will honor it. The party to whom the BG is given cannot go to its bank and en-cash. It is
A Bank Guarantee (“BG”) is a common mode of securing payment of money in commercial dealing as the beneficiary, under the guarantee, is entitled to realize the whole of the amount under that guarantee in terms thereof, irrespective of any pending dispute between the person on whose behalf the guarantee was given and the beneficiary. Since the BG represents an independent contract between the bank and the beneficiary, both the parties are bound by the terms thereof. The invocation, thus, has to be in accordance with the terms of the guarantee, or else, the invocation itself would be bad in law. Types of Bank Guarantees: The two types of BGs are: (i) Unconditional BGs; and (ii) Conditional BGs. An Unconditional BGs ensure the payment to the beneficiary “unconditionally and irrevocably” on beneficiary's first demand upon invoking the guarantee. The Conditional BG has certain conditions which once fulfilled, the Conditional BG can be invoked by the beneficiary. One has to pay
Need of Bank Guarantee: In this environment where new startups are being encouraged, bank guarantees plays a crucial factor in encouraging these startups, it helps the new firms to set up efficiently which is a boom for small scale businessmen. At the initial stages of their business, they can raise the required money in credit keeping the bank as a surety. The credibility of the bank or financial provider reduces the transaction risk in a business transaction. Two Types of Bank Guarantee: Advance Payment guarantee- This type of guarantee is mostly used in export and import business but is now extended to Domestic trade. Buyers of goods generally use this guarantee to secure the advance payment made by them. Advance guarantee paid can be recovered as it is the primary obligation of the bank which is giving the guarantee. Payment Guarantee- This guarantee makes the debtor bound for the payment, this is a more secure guarantee as coll
How to Monetize Bank Guarantee(BG) and or StandBy Letter of Credit (SBLC) . To buy bank guarantee and or StandBy Letter of Credit, all you need to do is to visit a bank or any recognized lender LIKE US and ask them and or us to stand as a guarantor on your behalf. Of course, you would be required to present your business contract and other details. The bank or the recognized lender may also ask you to furnish other financial details of yours. There are numerous institutions working which enable clients to buy bank guarantees without much hassle. Another pragmatic and utilitarian aspect of bank guarantee is B ank Guarantee Monetization . Monetizing Bank Guarantee signifies raising finance or a credit line against it. If you have bank guarantee or a letter of credit, you might be able to monetize it. For bank guarantee monetization and to raise finance against it, it is paramount that the bank guarantee has been specifically formulated for the purpose of raising finance. Bank Guarant
What Is a Bank Guarantee? A bank guarantee is a type of financial backstop offered by a lending institution. The bank guarantee means that the lender will ensure that the liabilities of a debtor will be met. In other words, if the debtor fails to settle a debt, the bank will cover it. A bank guarantee enables the customer, or debtor, to acquire goods, buy equipment or draw down a loan. KEY TAKEAWAYS: A bank guarantee is when a lending institution promises to cover a loss if a borrower defaults on a loan. Parties to a loan choose direct guarantees for international and cross-border transactions. The guarantee provides additional risk to the lender, so loans with such a guarantee will come with greater costs or interest rates. Understanding Bank Guarantees: A bank guarantee is when a lending institution promises to cover a loss if a borrower defaults on a loan. The guarantee lets a company buy what it otherwise could not, helping business growth and promoting entrepreneurial activity. Th
Reasons for Bank Guarantee and How to Get One. A Bank Guarantee serves as a promise from a financial Institution and or a Financial Provider that it will assume liability for a particular debtor if its contractual obligations are not met. In other words, the financial Institution and or a Financial Provider offers to stand as the guarantor on behalf of a business customer in a transaction. Most bank guarantees carry a fee equal to a small percentage amount of the entire contract, normally 0.5 to 2.5 percent of the guaranteed amount. Applying for a Bank Guarantee Bank guarantees are not limited to business customers; individuals can apply for them as well. However, businesses do receive the vast majority of guarantees. In most cases, bank guarantees are not particularly difficult to obtain. To request a guarantee, the account holder contacts the financial Institution and or a Financial Provider and fills out an application that identifies the amount of and reasons for the guarantee. Ty
We Provide Bank Guarantee that is Fluid. Conduct your business with confidence, even where you lack established relationships, through the use of Bank Guarantees and Standby Letters of Credit. Our Bank Guarantee will enable you to negotiate favorable terms with buyers and suppliers by protecting them from non-performance under a contract while addressing your financing needs. We offer tailored solutions including performance, advance payment, tender, warranty, financial guarantees and standby letters of credit as well as others upon request. Contact: Jason Gavin Email: jasongavin44@gmail.com Telephone/WhatsApp: + 44 7452 390049 Twitter: @JasonGa58390383 Web: http://jasongavinmandate.blogspot.com
