UK Financial Investments, which looks after the bailed-out banks on behalf of taxpayers, has produced the first real analysis on how much money might be made on Northern Rock and Bradford & Bingley. It reckons that the "wholly owned" businesses will bring in between £95bn and £97bn – at least £33bn more than was put in.
As always there is a snag. It could take another 15 years for those sums of money to flow back to the exchequer.
Link (submitted by Will)
The government will stick to its controversial plan to cap tax relief on charitable donations, the chief secretary to the Treasury has said.
Danny Alexander told the BBC there were "very good reasons" for the cap - to ensure the very wealthy were paying a slice of their income to the exchequer.
Charities say the cap will hit big donations and have urged a rethink.
Link (submitted by Will)
