Having no adverse procedure involved that can check the borrowers from taking loan; online payday loans are being popular day by day. These loans are also first preference of loan aspirants because you can apply for these loans without stepping out from your home. For this it is necessary that you have computer with internet connection and basic knowledge of computer. If you have these entire things and are well familiar with keyboard, you can easily apply just pressing some keys in few minutes.

Approval process of bad credit payday loans UK is mesmerizing. You cannot get such fast cash with any loan lenders as you get with mentioned loan lenders. Approval process begins just after you fill and submit online application form. If all the details provided by you are genuine, verification is done very soon and soon the approval comes and the accepted amount in transferred in the customers running account number.

Getting cash from these loan lenders you can stay your life normal as it was ever before because you can solve your monetary problems like grocery store bills, medical bills, electricity bill, home renovation, wedding expenses, paying tuition fee and the list goes on.

It is very easy to apply for payday loans for bad credit as the entire procedure is quick and hassles free because to avail the loan assistance you just need to fill out a simple online application form and submit it. Make it sure that to apply for payday loans you must be over 18 years of the age, you must be currently employee with the minimum earning of £1000 per month, you must have an active checking bank account at least six months old and you must be the citizen of UK. Before opting for the loan make it clear that these loan carry little high interest rate as compared to other traditional bank account. If you delay it in repaying principal amount with interest than late fee will also be charged so, try to make repayment on time. The refunds duration varies from 14 to 31 days.

Payday loans for bad credit are paperless with no hassles hence; a payday loans is the easiest and the most convenient method to get money from a lending institution. There are number of online lenders that offer cash advance online without bothering you as there is no requirement of much work paper working and needless details. If you fulfill their certain basic requirements, these companies assist you by providing you cash so that you could meet your requirements within 24 hours of application.

These are basically payday loans that offer amount of money as fast as possible. Under such a loan scheme, the users can borrow the amount that ranges from £ 5000 to £ 75000. You need to pay back the whole money within the time period of 5 to 25 years. One of the biggest advantages is that the borrowers can enjoy lower rate of interests in these loans. Generally, the rate of interest for the bad credit people is kept very high. But here you will get to stay free from such kind of troubles.

Anyone with poor credit status can approach it easily for the financial assistance. In order to get the loan service, you need to be 18 years of age and above with the regular source of income. On the other hand, you must also acquire a citizenship of a UK with the valid and activated bank account. Many of the major banks and financial lenders offer such an amazing facility of loans to the individuals.

They provide a facility of online application form that will save your huge amount of time. By filling such request form with some of your personal details, you can directly apply for bad credit secured loans. Once the application gets approved, the whole amount will get directly transferred to your valid bank account.

Bad Credit Loans make every applicant very comfortable while applying. Actually, prime negative aspect of any loan plan is faxing of documents because this process consumes a large amount of time. These loans cut off the link of this procedure with them permanently. These loans will settle with you till you collect your next salary. These loans are designed to decrease your impetuous economic messes instantaneously. Snag free application form is present on lender’s website. You can pack it at any time and become a valid candidate for these loans. You have to take out loan quantity from your bank account because lenders will swing money to it.

Demand for any collateral will not be raised by lenders. Because these loans are for small time so applicant doesn’t have to pledge anything. Problems, which don’t provide you enough time for arranging funds, are very perilous. But these loans are fantastic for overcoming dangerous circumstances. Few things are required for gaining these loans. Like applicant should be at least 18 years old. He/she must be a local of UK. Most significant thing you need is an excellent job with nice salary so that you can simply refund loan total.

Summary

Bad credit loans make every applicant very comfortable while applying. Actually, prime negative aspect of any loan plan is faxing of documents because this process consumes a large amount of time. These loans cut off the link of this procedure with them permanently.

This 90 day personal loans for bad credit is a payday loan scheme. You can get the loan on the same day of submission of application. You can file either online or offline application form which include your basic personal details like name, address, phone no and e-mail id etc. You will fill the form in some minutes and can submit even faster than one minute if you submit online form. You can have this loan scheme if you are a UK citizen and over 18 years of age with a valid checking account along with a continuous monthly salary. With all such qualifications, you can apply and have the cash in your bank account.

As this scheme allows the applicants to approve the loan easily and also pay off the loan on time. And you are not bound with any unwanted terms and conditions. There is no credit check involved and any person with any credit profile can apply for this loan. But you have to return the loan cash within the given time, which makes your chance better for the approval of next loan, if necessary. This scheme is really unbelievable like you can get the money within some hours. So, there is no risk and no hassle to get the money via this loan scheme.

George Osborne said that Britain was “back on track” today after hailing his fiscal watchdog’s report as proof that the government’s plan to take the UK out of the financial danger zone and “balance the books” was working.

The chancellor seized on the forecasts outlined by the Office for Budget Responsibility to say that the government would “stick to the course” he set out in his June emergency budget.

Osborne said the OBR’s central view was that there “will be no double-dip recession”, with “considerably higher” growth this year than predicted in June.

In a statement to the Commons, Osborne said the government had set the British economy back on the path to recovery.

“That is not only the judgment of the OBR, it is the judgment of the IMF, the OECD, the European commission, the Bank of England, and all the major business organisations in this country,” he said.

The chancellor admitted that the independent forecasts should be treated with the same degree of caution as any forecast, but he said the OBR’s report showed the economy was growing, more jobs were being created, and the deficit was falling.

He told MPs: “Their central forecast is for sustainable growth of over 2% for each of the next five years and employment rising in each and every year. And at a time when markets are gripped by fears about government finances across Europe, today we see that the government was absolutely right to take the decisive action to take Britain out of the financial danger zone. Britain is on course both to grow the economy and balance the books – something some people repeatedly said would not happen.”

The tax and spending watchdog cut its growth forecasts for coming years, although it remains markedly more optimistic than other forecasters, including the Organisation for Economic Co-operation and Development. As expected, the OBR upgraded its forecast for growth this year to 1.8% from 1.2% in June, reflecting the economy’s surprisingly strong performance in the summer. This matches the OECD’s latest prediction.

But for next year, the independent OBR cut its growth estimate to 2.1% from 2.3% – which is far more bullish than the OECD’s prediction of 1.7%, and City economists’ forecasts.

In its report, published today, the watchdog said the outlook for the economy was “inherently uncertain” and recovery would be slower than after previous recessions.

The impact of government deficit-busting measures – which include a hike in VAT to 20% and an £81bn package of spending cuts – would lead to “sluggish growth” in the medium term, it went on.

But the OBR – formed in May to make an independent assessment of public finances and the economy – did revise down its projections for public sector job cuts over the next four years from 490,000 to 330,000.

The OBR, headed by Robert Chote, the former Institute for Fiscal Studies chief, is also significantly more optimistic about 2012, when it expects Britain’s economy to grow by 2.6%, revised lower from 2.8% in June. This compares with the OECD’s prediction of 2% growth.

Today’s report also predicted a “gradual rebalancing” of the economy from one built on debt to “an economy where we invest and export”.

Osborne said the OBR forecast a rise in employment in every year of the parliament, with total employment expected to rise by more than 1 million from 29 million to 30.1 million.

The unemployment rate was expected to be 7.9% this year, down from the earlier forecast of 8.1%. The forecast for next year was unchanged at 8%.

The OBR’s decision to cut the predicted reduction in public sector jobs to 330,000 followed the government’s decision “to cut welfare bills rather than public services”, said Osborne.

“Those headcount reductions that still need to take place will happen over four years, not overnight. And the OBR forecast is that private sector job creation will far outweigh the reduction in public sector employment.”

Osborne announced a cross-government growth review to conduct a “forensic examination” of how every part of government can do more to “remove barriers to growth and support new growth opportunities”, which will report by next year’s budget.

Osborne also announced that from April 2013 there will be a new lower 10% rate of corporation tax on profits from newly commercialised patents to encourage hi-tech business.

He told MPs the move had prompted a £500m investment from pharmaceuticals giant GlaxoSmithKline, which would create an estimated 1,000 new jobs.

He said that “brick by brick we will remove the barriers that are holding Britain back” .

The chancellor also announced the publication of a “significant programme of corporate tax reforms” for consultation aimed at attracting international investment and business.

He also used his statement to reveal that the bilateral loan to Ireland will be worth £3.25bn.

He told MPs that the loan was “in Britain’s national interest” and stressed that the UK would not be part of the permanent bailout mechanism.

Of the loan, Osborne said: “It will help one of our closest economic partners manage through these difficult conditions. I should also tell the house that the eurozone finance ministers, without me present, discussed a permanent financial stability facility. I have made it clear in the subsequent ECOFIN meeting that the UK will not be part of that.” Economic policy Office for Budget Responsibility Economics Government borrowing Budget deficit George Osborne Hélène Mulholland Julia Kollewe guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds

View full post on All Stories

4.19pm: Edward Leigh, a Conservative, says public spending is still going up, despite “these so-called cuts”. There should be more efficiency savings, he says.

Osborne says there has to be greater productivity in the public services.

4.18pm: Labour’s Chuka Umunna says the OBR has revised down its forecasts for business investment over the next few years. Where will the growth come from, he asks.

Osborne says the OBR expects the government to meet its goal of eliminating the deficit.

Labour’s Andy Love asks if Osborne is concerned about the “optimism” of the forecasts.

Osborne says these are independent forecasts. Robert Chote is “not in anyone’s pocket”. Love is on the Treasury committee that interviewed Chote for the post of head of the OBR and approved him, Osborne says.

Labour’s Sheila Gilmore says the OBR has revised down its growth forecasts.

Osborne says all economic forecasts need to be treated with caution.

4.11pm: Asked about his growth paper, Osborne says he expects to produce measures in time for the budget in the spring.

Labour’s Dennis Skinner asks why the Irish banks were worth saving, but not Northern Rock.

Osborne says the impact of not saving the Irish banks on Skinner’s constituents would be “very severe”.

4.07pm: In response to a question from Ian Paisley Jr, George Osborne says some EU countries wanted to force Ireland to increase its corporation tax rate as a condition of receiving the bailout. But Osborne was opposed to this. He thinks Ireland should be free to make its own decisions about tax, he says.

4.04pm: George Osborne is replying to Alan Johnson. He says that Johnson was wrong about growth. And he mocks Johnson by quoting from his interview with the FT today. (See 10.02am.) Osborne quotes the “if you’ve not got anything to say, keep your mouth shut” line.

4.00pm: The full text of Osborne’s statement is now on the Treasury’s website .

Here’s a press notice about the corporation tax reform .

And here’s a press notice about the growth review .

3.59pm: Alan Johnson is still speaking. He says the government is depending on exports to drive the recovery. But the state of the world economy makes this doubtful, he says.

Johnson says the plan for a tax cut for newly-created patents is “excellent”. But it’s a Labour idea. It was in the pre-budget report, he says.

On Ireland, Johnson quotes from something Osborne said about Ireland in 2008. Osborne said the Irish public finances were “well placed”. Osborne said: “They used the fat years to prepare for the lean years.” That gets a laugh from Labour MPs.

3.55pm: Alan Johnson is responding for Labour. “Let’s move from bombast to reality,” he says.

He says the OBR admit in their report that their forecasts are likely to be wrong.

The US has a higher proportionate deficit, but is reducing it more slowly, Johnson says. George Osborne is taking a “gamble” with the recovery. But he is doing so on the basis of a “fundamental deceit” – the suggestion that the economy was in a worse state in May than it really was.

Johnson pays tribute to the “balanced” approach taken by Alistair Darling, Osborne’s Labour predecessor.

Osborne is “in the casino”, but he has not “spun the wheel yet”, Johnson says.

Johnson says that, after this year, the OBR has revised down its growth forecasts. And it is expecting unemployment to rise next year. The Local Government Association expects 140,000 council jobs to go next year. And the CBI says the VAT increase coming into effect in January will cost 250,000 jobs, he says.

3.48pm: Osborne is now talking about the Irish bailout.

– Britain’s bilateral loan to Ireland will be worth £3.25bn.

Britain will not be part of the permanent European bailout mechanism being set up, Osborne says. When the permanent mechanism is established, the European financial stability mechanism (which does include Britain) will be abolished.

Britain is “on the mend”, Osborne says.

3.45pm: Osborne is now talking about his plans to promote growth.

Corporation tax has already been cut to 24%. Today the government is publishing plans to simplify corporate taxation.

Osborne is also changing the tax treatment of income from intellectual property.

– Tax from newly-created patents to be cut to 10%.

– GlaxoSmithKline announcing a £500m investment in the UK as a result of the government’s tax decision. This will create 1,000 jobs, Osborne says.

– Government to conduct a cross-departmental growth review. This will examine ways of promoting growth.

3.42pm: Osborne says his actions have shown that Britain can live within its means. “Already our efforts are paying off,” he says. The OBR is saying that Britain will save £19bn in interest payments by the end of the forecast period as a result of the government cuts.

This is an uncertain world, but the British recovery is on track.

Osborne says that those who are proposing that Britain should “borrow more and spend more” are recommending something that would be “disastrous” for the UK.

3.40pm: Osborne says the European Commission has also published its forecasts for the UK economy today. The commission says growth in the UK will be higher than in Germany, Japan and the US, and higher than the average for the EU and the eurozone.

The OBR is essentially saying that a double-dip recession will not happen, Osborne says.

The OBR is forecast unemployment of around 6% by the end of this parliament. That will be lower than at the time of the election, Osborne says.

On public sector jobs, Osborne says the government’s “difficult choices” on benefit cuts mean that fewer public sector jobs will be lost. Private sector job creation will “far outweigh” the loss of jobs in the public sector, Osborne says.

3.32pm: Osborne says that today is the first time MPs will be able to debate an autumn forecast produced by an independent body, not “conjured up” by the chancellor of the day. He also says that MPs have had two hours to read the forecasts; in other words, they have had time to read it before the statement.

Osborne says the figures should be treated with “a degree of caution”. The OBR admits this in its report. It is not claiming “infallible certainty”, as Osborne’s political predecessors did when they announced their forecasts, he says.

The economic recovery is “on track”, Osborne adds.

Employment and GDP are higher in every quarter and in every year than in the June forecast, he says.

Britain is on course to both grow the economy and balance the books – something some people said could not happen.

3.29pm: George Osborne is just starting his statement now. He will cover the OBR forecasts. But he will also update MPs about the Irish situation.

3.20pm: Back to the OBR. The BBC’s Stephanie Flanders has posted her verdict on her blog . Here’s how she starts:

The chancellor will find little to concern him in the latest forecast from the independent watchdog he created – and some important reasons to cheer, particularly in the labour market. But, as the director of the Office of Budget Responsibility, Robert Chote is keen to stress he’d be mad to expect any of the forecasts in this report to turn out to be right.

3.13pm: George Osborne will be giving his response to the OBR report at 3.30pm. But, in the meantime, let’s return to the Lib Dems and tuition fees (see 9.31am), because the Lib Dem MP Stephen Williams has told the BBC that the government’s proposal is essentially the same as a graduate tax. This is what he told the World at One.

The new system that is coming in for graduate contributions is basically a graduate tax by any other name. We are just not calling it a graduate tax for technical European law issues. But it’s a much fairer way of graduates paying back something towards their higher education.

Williams, who used to be the party’s higher education spokesman and who recently wrote a fascinating post on his blog about how he tried to change party policy on tuition fees, also said he thought Lib Dem ministers should abstain in the forthcoming vote on the government’s plans.

2.56pm: And this is what Brendan Barber, the general secretary of the TUC, is saying about the new OBR figures:

No doubt the chancellor will try to spin the OBR report as a vindication of his approach. But a closer look at the figures reveals that even by the time of the next election, the OBR expects well over a million people still to be claiming unemployment benefit.

In short, by 2015 the UK economy will still not be back to where it was before the recession hit in 2008. No politician should seize on these figures as some sort of good news story, least of all one that has just abandoned its plans to publish a jobs and growth strategy for the country.

2.49pm: Here’s a statement from Alan Johnson (left) about the new OBR forecasts:

The OBR’s forecast for a weak recovery reminds us all of the risks this government has chosen to take with the economy. Growth forecasts have been cut for the next two years as the momentum in the economy this year fails to feed though to future years. And the OBR warns that it now expects unemployment to rise next year. For families up and down the country a jobless recovery is no recovery at all.

2.23pm: You don’t often find Unite lining up with the Institute of Directors (IoD), but there are some similarities in what they are saying about the latest OBR forecasts. They both seem unconvinced by the OBR’s predictions about the number of public sector jobs that will be lost. The IoD’s chief economist said he found the figures “puzzling”. Unite, as you would expect, is far more critical. This is from Len McCluskey, its general secretary-elect.

The reality in the workplaces of the UK is of job losses, financial cutbacks and belt tightening by our members in the face of the current harsh economic climate. Yet the OBR is upgrading its growth forecast for 2010 to 1.8% from the 1.2% predicted in June.

We seem to be living in two parallel economic universes: the optimistic one being peddled by the coalition’s creation, the OBR, and then there is the ‘real’ one, which sees firms being unable to borrow money from the state-owned and other banks to invest in jobs and expand their businesses; where £81bn of public spending cuts will hit demand in communities, where the public sector is a major economic generator; and where reputable economists are predicting more than one million jobs being lost in the public and private sectors.

Something does not add up here, and this latest forecast from the OBR poses as many questions as it attempts to answer.

2.14pm: Back to the press conference. A reporter asks if we can now rule out a double-dip recession. Sadly, Robert Chote decides to give an economist’s answer (ie a long and nuanced one), rather than the simple “yes” the questioner was hoping for. Chote says that it is “not impossible” that Britain could have a quarter or two of negative growth. But this is not the OBR’s “central expectation”.

BBC News has now given up its coverage of the news conference.

2.04pm: While I wait for the BBC to catch up, here’s some reaction from Graeme Leach, chief economist at the Institute of Directors. He sounds slightly mystified as to why the forecast for the number of public sector jobs being lost isn’t higher.

The really interesting story from the OBR is the slashing in public sector job losses from 490,000 to 330,000. This means that the projected public-sector employment losses are almost half those seen in the 1990s. The peak-to-trough reduction in public spending in the 1990s was 7.4 per cent of GDP. The comparable reduction now is 7.9 per cent of GDP by 2015-16. So the spending squeeze is on a par with the 1990s but the employment shake-out is far less. This is puzzling, even when we allow for a greater burden of the cuts falling on welfare spending this time around.

Leach also thinks the OBR’s growth forecasts are still a bit optimistic.

The OBR’s 2011 GDP growth forecast still looks a bit optimistic even after the downgrade. We face very strong headwinds next year. Real take-home pay faces a sharp squeeze, and the savings ratio is already very low. Throw in ongoing problems in the financial system and anaemic money supply growth, and our judgment is that the economy will be weaker than expected.

1.58pm: Sky have stopped showing the press conference. BBC News are broadcasting it, but their feed seems to be about five minutes behind Sky’s live coverage.

1.55pm: On the change in the forecast for public sector job cuts, he says there is now around 2.5% more money available to pay for general government employment than the government expected in June, because the government is raising more money from welfare cuts than it was planning at that point.

1.50pm: Robert Chote is winding up now. He says he wants to address whether government policies are consistent with balancing the books over the long term.

Public sector net debt “is comfortably on a downward trajectory”, he says.

But demographic change could put pressure on the budget, he says. The effects of the population will eventually put net debt on an upward path, he says.

(I did not realise the OBR was looking that far ahead. Some of the charts in the reports go up to 2050. Chote seemed to be saying that George Osborne’s sums may add up in the medium term, but in the long run he’s going to have to find more money because we’re all living longer.)

1.41pm: Faisal Islam, Channel 4′s economics editor, has spotted an interesting line in the OBR report. He’s posted this on Twitter :

OBR assumes property prices will fall 2.7% in the next fiscal year.

That’s the Daily Express’s OBR story sorted.

1.40pm: Robert Chote is now talking about the Irish bailout. He says the bilateral loan is the only part of the British contribution that will feature in the national finances. He says the details of the loan were not available when the OBR produced its figures. But the sums involved are too small to make a difference to its overall figures, he says.

1.38pm: Robert Chote is still making his opening statement at the press conference.

General government employment is now expected to fall by 330,000 over the next four years. That’s 160,000 fewer than the figure the OBR produced in June. It has changed its forecast because the government is now saving more money than expected at the time of the budget from welfare cuts. But the OBR is predicting a further loss of around 80,000 government jobs in 2015-16.

The deficit is expected to fall from 11.1% of GDP this year to 1% by 2015-16, Chote says.

The forecast for debt is marginally lower than it was in June. But it will still peak at around 70% of GDP.

1.31pm: Robert Chote is summarising his findings at the press conference. I’ve mentioned some of the key findings already.

Forecasts for net borrowing have changed “only modestly”, Chote says.

The government has a “better than 50%” chance of meeting the borrowing targets it has set itself, he says.

On current evidence, the government’s fiscal consolidation is consistent with the targets it has set itself (to eliminate the deficit), consistent with modest growth, Chote says. But he says deciding whether the government is cutting the deficit too quickly is a matter that is beyond the remit of the OBR. He concedes that this is an issue on which there is disagreement.

The recovery will be slower than in the 1970s, the 1980s and the 1990s, Chote says.

1.25pm: Here’s more from the OBR report:

– The economy has recovered “more strongly” since the spring than the OBR expected in June.

– Growth will be “relatively sluggish” during the medium term.

Our central forecast is that the economy will continue to recover from the recession, but at a slower pace than in the recoveries of the 1970s, 1980s and 1990s. This relatively sluggish medium-term outlook reflects the gradual normalisation of credit conditions, efforts to reduce private-sector indebtedness and the impact of the government’s fiscal consolidation.

– Growth will be at its slowest in the first quarter of next year, when it will be 0.3%.

– Unemployment will rise to just over 8%, on the ILO measure, next year. Then it will fall to just over 6% by 2015.

– Employment will rise from 29 million this year to 30 million in 2015 “as private sector job creation more than offsets falling public sector employment”.

Robert Chote, the new head of the OBR, is now holding a press conference.

1.13pm: Here are the Press Association snaps about the OBR report:

The Office for Budget Responsibility lifted its 2010 forecast for UK economic growth from 1.2% to 1.8% today but lowered its estimates for 2011 and 2012 from 2.3% to 2.1% and 2.8% to 2.6% respectively.

The OBR slightly lowered its forecast for public borrowing in the current 2010-11 financial year to £148.5bn from £149.5bn.

The OBR slashed its forecast for public sector job losses over the next four years from 490,000 to 330,000.

And here’s the top of the PA story:

The outlook for the economy is “inherently uncertain” and recovery will be slower than after previous recessions, the UK’s tax and spending watchdog warned today.

The Office for Budget Responsibility said the impact of government deficit-busting measures – which include a hike in VAT to 20% and an £81bn package of spending cuts – would lead to “sluggish growth” in the medium term.

The new report, Economic and fiscal outlook, is now on the OBR’s website .

12.54pm: The Office for Budget Responsibility is due to release its revised economic forecasts at 1pm. They should be available on the OBR’s website after 1pm. At 1.20pm the OBR is hosting a news conference.

Here’s the report it produced at the time of the budget in June .

12.41pm: Here is a lunchtime summary:

– Downing Street has condemned the release of confidential US government information by Wikileaks. “Clearly, we condemn the unauthorised release of classified information,” the prime minister’s spokesman said. “The leaks and their publication are damaging to national security in the US, Britain and elsewhere.” (See 11.53am.)

– More than 100 Liberal Democrat activists who stood as candidates at the general election have signed an open letter saying the party will “rightly face many more years back in the political wilderness” if Lib Dem MPs break their promise to vote against an increase in tuition fees. As Patrick Wintour reports in the Guardian today , Simon Hughes is trying to persuade his colleagues to abstain, although Lib Dem ministers are under pressure to vote in favour of the government’s plans. (See 9.31am.)

– Ed Vaizey, the culture minister, has announced that the British Film Institute will take responsibility for distributing grants to British filmmakers following the abolition of the UK Film Council. (See 12.14pm.)

12.14pm: Ed Vaizey, the arts minister, announced today that the British Film Institute will become “the flagship body for the delivery of UK film policy”. He also said there would be a 60% increase in lottery funding for film by 2014. My colleague John Plunkett has a story about this on the Guardian’s website , the culture department’s press notice is here , and the full text of Vaizey’s speech is here .

12.07pm: Lord Mandelson (left) is launching an international consultancy. Sky’s Mark Kleinman has broken the story and he’s got more details on his blog:

Global Counsel LLP, which is expected to be chaired by Lord Mandelson and run by Ben Wegg-Prosser, a long-standing ally of the former Labour minister, has secured a significant investment from WPP Group, the FTSE 100 marketing services giant, I’m told.

The news will end six months of speculation about Lord Mandelson’s post-ministerial career. Global Counsel will advise multinational companies, and I suspect that one of its focuses given his background will be on exploiting opportunities in the world’s growth markets (particularly in Africa, Asia, Latin America and parts of eastern Europe – which dovetail neatly with WPP’s own priority regions for expansion).

11.53am: I’m just back from the No 10 lobby briefing, where the prime minister’s spokesman said the government “condemned” the latest release of US classified material by Wikileaks.

Clearly, we condemn the unauthorised release of classified information. The leaks and their publication are damaging to national security in the US, Britain and elsewhere … Governments need to be able to operate on a confidential basis when dealing with this kind of information and the fact that it has been leaked is damaging.

But the prime minister’s spokesman was not willing to identify any specific leak that may have caused any specific damage to the national interest. When pressed on this, he repeated his general point about the release of information like this undermining confidentiality. He also said that leaks like this “have the potential to damage national security”.

The spokesman also refused to say what David Cameron felt about the news that he had been criticised in the US files. The American ambassador, Louis Susman, briefed Downing Street officials about the leaks at the end of last week, but he did not speak to Cameron, and Cameron has not spoke to Barack Obama about the affair.

10.35am: You can read all today’s Guardian politics stories here . And all the politics stories filed yesterday, including some in today’s paper, are here .

As for the rest of the papers, I’ve already mentioned the FT’s interview with Alan Johnson (see 10.02am). Here are some other articles of interest.

– Duncan Gardham in the Daily Telegraph says the government is likely to cut the maximum limit for pre-charge detention for terrorist suspects from 28 days to 14 days when it concludes its review of counter-terrorism legislation. But control orders are likely to stay in a “refashioned” form.

Theresa May, the Home Secretary, is attempting to hold on to a refashioned version of control orders despite opposition from Liberal Democrats led by Nick Clegg, the Deputy Prime Minister.

The Government is conducting a review of terrorism legislation introduced in the wake of the September 11 attacks but the results have been delayed as the Government examines “every option known to man” to head off a Liberal Democrat revolt, according to one source.

It is understood that Mr Clegg believes control orders – the system of curfews under which terrorism suspects are electronically tagged – should be abolished while Mrs May, who has had extensive briefings from the security services and the police, thinks they must be retained.

The row threatens to split the Coalition if Mr Clegg decides to give his backbenchers a free vote.

– And Lord Carlile, the government’s independent reviewer of terror legislation, suggests in the Daily Telegraph control orders could be replaced by a three-tier system. He has already submitted this idea to ministers.

First, for those who simply want to travel abroad to train as terrorists, we could have foreign travel restriction orders founded on a raised standard of proof of ”reasonable belief” that the individual wishes to leave the UK for purposes connected with training a terrorist.

Second, we could have general travel restriction orders on reasonable belief that the individual has the more developed intent to participate in terrorist activity.

Third, for the most serious cases we could have activity restriction orders, where a judge was satisfied on the much raised standard of the balance of probabilities that the individual is a terrorist. The system would have an increasing scale of restrictions, including curfews (but not compulsory relocation) for the highest tier.

– George Parker in the Financial Times (subscription) says Liam Fox has dropped his pre-election promise to withdraw Britain from the European Defence Agency.

But Mr Fox has written to Lady Ashton, head of the agency, warning that Britain will block proposals for a 3.9 per cent rise in its budget next year, claiming it was “impossible to justify” at a time of austerity.

Although the EDA has a relatively small budget, Mr Fox has always viewed it as an unacceptable reflection of the expanding ambitions of Brussels. However, Mr Fox’s aides confirmed on Sunday that he was no longer committed to an immediate British withdrawal from the agency, although the UK’s longer-term membership was under review.

– Louise Armitstead and Harry Wallop in the Daily Telegraph say the government will today try to persuade companies to stay in Britain “by pledging an immediate reform of two corporate taxes that are blamed for driving businesses overseas”.

George Osborne, the Chancellor, and Vince Cable, the Business Secretary, are planning to announce the overhaul of the Controlled Foreign Companies tax and a lower rate for income generated from Intellectual Property.

Some of Britain’s biggest companies including WPP, the advertising group, and Shire, the pharmaceuticals company, recently moved their headquarters to Ireland citing the complicated and uncertain company tax regime as the main reason.

I’m now off to the Downing Street lobby briefing. I’ll post again after 11.30am.

10.22am: The cabinet is meeting today. It normally meets on a Tuesday, but the date has been changed because David Cameron is going to Zurich tomorrow to lobby on behalf of England’s 2018 World Cup bid. He’s going to be there for the best part of three days, although he is planning to nip back for PMQs on Wednesday.

10.02am: I’ll post a full review of the papers shortly, but Alan Johnson’s interview in the Financial Times (subscription) merits special attention because it’s full of good material. Here are the key points.

– Johnson said he would like Labour to cut taxes.

I’d like to see us reduce taxes. I’d like to see us reduce it for middle-income and low-income people.

– But he suggested that Labour would want to keep the 50p top rate of tax at the election.

It’s very difficult to imagine we won’t need a 50p tax rate. We need it now. It’s very difficult to imagine we won’t need it at the time of the next general election but, as Ed [Miliband] says, we’ll look at it at the time.

– He predicted that the more the public saw of Miliband, the more they would like him.

I think they’ll tune into Radio Ed and find something they really like.

– He said he would take his time before developing policy on issues like breaking up the banks. In the meantime, he would stay quiet on these issues, he said.

I’m a great believer in the philosophy that if you’ve not got anything to say, keep your mouth shut.

– He revealed what was on his economics reading list. When he got the job, Johnson joked about needing to read an economics primer. But actually he briefed himself by reading the Financial Times summer series about the respective merits of austerity policies versus stimulus policies.

9.46am: The Labour MP Margaret Hodge was on the Today programme earlier talking about how she defeated the BNP in Barking at the election. The campaign is the subject of a documentary, The Battle for Barking, which is on More4 tomorrow. According to PoliticsHome, Hodge said that “reconnecting with voters” and focusing on issues like potholes helped her to see off Nick Griffin.

What I did, because there was nothing I could do about immigration and there was nothing I could do about magicking up the jobs and the housing that created massive anger and frustration … everything I did was about reconnecting Labour with our local people … We do our politics now in a different way. I listened to what people have said and even if I can’t deliver on the big issues, I can deliver on things like potholes, pavements.

9.31am: As the BBC has been reporting, more than 100 people who stood as Liberal Democrat candidates at the last election have signed an open letter urging Lib Dem MPs to vote against the rise in tuition fees. The letter, which is on Derek Deedman’s website, explains very directly why breaking the pre-election promise to vote against any tuition fee increase would be so damaging to the party.

There is one thing that sets the Liberal Democrats apart from other political parties; this is that when we say we will do something during election campaigns we then do it in government. This can be seen in how the income tax threshold will rise to £10,000 by the end of this Parliament, the AV referendum on 5th May 2011, the reduction of MP’s to 600, the Pupil Premium and the delay over the replacement of Trident. We have achieved this and more despite the compromises of being in a coalition.

Nick Clegg emphasised this best of all during the televised leadership debates when he said that the Labour and Conservative Parties have given us “Nothing but broken promises”, he also emphasised that “The Liberal Democrats are different”. Finally and crucially he announced how he wanted to create a “New politics” and part of this vision was for parties to do in government as they claim they will in opposition …

We are different and must show that we are; especially now that we are in a position to do so. Otherwise this party will rightly face many more years back in the political wilderness having been labelled as ‘just like the other lot’.

9.21am: Even though half the country is covered in snow and it feels as if we are in the depths of winter, George Osborne has decided that today’s the day to deliver an ” autumn statement “. He will be the first chancellor to deliver one since Norman Lamont in 1992. By law the government has to deliver a financial report on the state of the economy twice a year. Chancellors used to do this in the autumn, and they would use the autumn statement to announce departmental spending allocations. Then Kenneth Clarke combined the autumn statement with the spring budget, because he thought it made more sense to announce tax and spending decisions at the same time, although he also made a summer statement about the economy to comply with the “twice a year rule”. When Labour came to power, Gordon Brown replaced the autumn statement with a pre-budget report, effectively a mini budget. Today, under Osborne, the autumn statement is back.

Osborne will deliver his statement at 3.30pm. Unlike Lamont, he won’t be publishing departmental spending allocations. He has already done that, in the comprehensive spending review. Instead he will be responding to the Office for Budget Responsibility, which at 1pm will be publishing its revised economic forecasts. As Patrick Wintour reports in the Guardian today , the OBR will raise the estimate of 2010 growth from the 1.2% contained in the June budget to close to 1.8% and cut projections for public-sector job cuts by nearly a fifth. Osborne will also publish a growth discussion paper.

Otherwise, it’s a relatively quiet day. The Wikileaks story is, of course, huge, but largely I’ll leave that to my colleague Matthew Weaver, who is covering it in a live blog . I’ll focus on the breaking political news, as well as looking at the papers and bringing you the best politics from the web. George Osborne Economic policy Andrew Sparrow guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds

View full post on All Stories

EU ministers tonight spelt out the terms of Ireland’s €85bn international financial rescue package, and revealed the Dublin government will have to raid its national pension fund and other cash reserves for €17.5bn as a condition of the deal to bail out its banks and debt-laden economy.

The unexpected contribution from Ireland was demanded at a hastily arranged meeting of the eurozone’s finance ministers, who were desperate to secure a deal before the markets open tomorrow.

The package from the EU and International Monetary Fund includes €67.5bn of external loans. €10bn will go straight to the crippled banks, and €25bn is earmarked for bank support in the future. The remaining €50bn will be used to shore up the public finances and allow the government to keep making welfare payments and cover other expenses such as health and education.

The agreement was outlined after six hours of parallel emergency meetings in Brussels of all 27 EU finance ministers and of the 16 countries using the single currency. New proposals for a permanent crisis mechanism to shore up the euro from 2013, when the current schemes run out, were also outlined.

The gravity of the situation was such that the chancellor, George Osborne, attended the eurozone meeting, even though the UK is not in the single currency. The UK is to contribute an estimated €7bn, some €3.8bn in a direct loan for the banks.

Osborne said: “There is a loan going from Britain to Ireland of just over £3bn. Of course, Britain is also part of the EU and part of the IMF, so we stand behind their loans as well. It is in Britain’s national interest. It is money we fully expect to get back, and we think it will help Ireland get on a fully stable path back to growth.”

He also negotiated that the UK would not be part of any future eurozone bailout schemes after 2013.

Within minutes of the announcement, Ireland’s embattled prime minster, Brian Cowen, was facing questions about whether his country could afford the interest on the loans, which will average 5.8%, as the repayments will amount to 20% of annual tax revenue. But he was unrepentant. “Can Ireland do without this package? The answer to that is no,” he told reporters last night.

“If we don’t have this programme we would have to go back to the market, which has prohibitive rates,” he said.

Ireland’s borrowing costs have shot through 9% and anxiety about the terms of Ireland’s bail-out package has reverberated through the eurozone. There have been sharp rises in the borrowing costs of Portugal and Spain, sparking fears that they too will need assistance to avoid a break-up of the eurozone.

Joan Burton, of the Irish Labour party, said that the Europeans and IMF had “played better poker” than Ireland. She claimed that the Irish government had gambled away assets such as the pension reserve fund in the discussions. “The EU and IMF have us where they want us,” she said.

EU leaders wanted to demonstrate to the markets that they could contain the contagion in the eurozone, and for the first time today called for the financial markets to bear some of the losses in future European sovereign debt crises.

Cowen made it clear that the authorities were trying to stop another crisis that would have been caused if bond holders had been forced to take losses. Such a move, he said, could have endangered the “entire financial system”.

Dublin insisted the interest rates on the loans had to be less than 6%, even though this is more than the 5.2% paid by Greece when it was bailed out in April. While agreeing the Irish deal, the leaders of Germany, France, and the European Central Bank issued demands that the private sector should shoulder some of the losses in future bailouts after 2013.

This issue of creditor “haircuts”, or investor losses, has been highly contentious over the past month.

Chancellor Angela Merkel of Germany, President Nicolas Sarkozy of France, and the ECB chief, Jean-Claude Trichet, conferred over the weekend on the plan for a permanent euro rescue system. According to German officials today, Berlin has scaled back its demands after running into resistance from the French and the ECB. The paper tabled today, to be discussed at an EU summit next month, rowed back from a blanket insistence on creditor haircuts, instead saying the investor losses should be treated on a case by case basis. Cost of the bailout

– The €85bn bailout is made up of €67.5bn from the European Union, the International Monetary Fund, and the states of Denmark, Sweden and the UK. Another €17.5bn comes from Ireland’s cash reserves and its national pension reserve fund.

– Of this, €35bn is set aside to shore up the Irish banking system. €10bn will be used immediately, and the other €25bn is a contingency fund.

– Of the €67.5bn, the IMF is putting up €22.5bn.

– The two European stability funds are also putting in €22.5bn each. The UK contributes to one of these funds.

– The UK’s contribution is €3.8bn as a direct loan to the Irish banks. The interest rate has yet to be announced, but will be about 6%. The UK taxpayer will contribute about the same amount again through its membership of the IMF and EU bailout schemes.

– The plan allows Ireland to delay the deadline set for reducing its budget deficit to 3% of GDP until 2015, a year longer than previously. The deficit is currently 32%.

– The interest rate on all the loans, if they were all held for the maximum term, averages 5.8%. The bailout offered to Greece earlier this year averaged some 5.2%. The bond market had been demanding 9% to lend cash to Ireland in recent weeks.

– The Irish government has said that interest payments on its state debt will total more than 20% of tax revenues in 2014. Ireland bailout IMF European debt crisis Ireland European Union France Germany Greece Angela Merkel Nicolas Sarkozy George Osborne Ian Traynor Henry McDonald Jill Treanor guardian.co.uk © Guardian News & Media Limited 2010 | Use of this content is subject to our Terms & Conditions | More Feeds

View full post on All Stories

Same Day Loans for Bad Credit are specially designed to help people running on adverse credit scores. The lenders never ask you for any verification of previous records regarding your credit rating. As soon as you power to payback is defined you can easily avail your loan without any hassle. For this you need to prove the following:

• These loans are issued to the citizen of UK so you need to prove your citizenship.
• You also need to prove your age that should be at least 18 years.
• You must be employed as you need to prove that you are capable of repaying the loan in time.

If you can prove all these without any hassle then your loan will be approved without any hassle. You just need to prove that you are capable to repay the loan in time. So if you are looking for a short term loan then these loans can be really helpful to you.

The processing of loan request for the quick loans bad credit , approval and fund transfer hardly takes one day because you can apply for this loan even by sitting at your home. And you can do it on any day of the week, even weekends. This online application form will ask your name, address, e-mail id etc. These details must be genuine if you want that your loan applicant approve without any hassle.

This is offered only for the UK people. The other requirements are, you should be an UK citizen and holds a valid checking account of an UK bank. Along this, you employed on regular basis for past 6 months continuously. The minimum age to access this loan is 18 years and you must own a residence in UK. If you can’t provide your citizenship proof, then you can’t apply for this loan scheme.

This scheme will provide you the cash with reasonable terms and conditions. You can apply for these loans instantly if you have UK citizenship. You don’t need to provide any kind of security for the approval of loan. This makes the entire process so easier and quicker to have fast cash money within one day. And unlike the banks, any kind of file or any other hidden charge is not taken from you directly or indirectly. So, you can access the money in maximum 24 hours.