Darling's helping hand
The Chancellor launched the fightback yesterday by promising that he would seek to compensate low-paid workers made worse off by the abolition of the 10p tax rate.
He insisted that there could be no immediate concessions, however, and said that the current “constrained circumstances” limited what he could do for those on low pay.
Tim Worstall - Times Online
to tax the poor so that bureaucrats can give money to the poor is simply ludicrous
Alistair Darling plans unprecedented £50bn bank bailout - Times Online
An unprecedented £50 billion injection to bail out Britain’s ailing banking system could be doubled if it fails to stave off a collapse in the housing market.
London shares rose more than 1 per cent on Friday to their highest close in seven weeks. Banking and finance stocks led the way as investors warmed up to the concept that a recovery might be in sight.
Among the top banks, Royal Bank of Scotland rose 4.9 per cent on reports it is preparing to launch a 10 billion pound rights issue to shore up its balance sheet. Barclays was up 3.6 per cent and HBOS closed 1.4 per cent higher.
Elsewhere in the sector, Lloyds TSB added 2.4 per cent and Alliance and Leicester picked up 4.5 per cent.