What the Sunday Papers said…
Monday 03 December 2012
The Independent on Sunday: Chancellor will need to use 'dark arts' to meet targets
George Osborne will need to borrow up to £81bn extra to meet his fiscal rules, say experts. The Chancellor aims to balance the underlying budget by 2017/18 and get debt to start falling in 2015/16, but with growth low, the economist Philip Shaw said "we suspect he will resort to the fiscal 'dark arts' to meet his rule".
The Sunday Times: Delta offer may be start of Virgin Atlantic takeover plan
Delta Airlines is understood to have made an offer for Singapore Airlines' 49 per cent stake in Virgin Atlantic in what could be the start of an attempt to take control of the British airline. If Delta buys Singapore's stake, then its partner Air France-KLM could make a move for some of Sir Richard Branson's 51 per cent holding in Virgin Atlantic.
The Mail on Sunday: Tax breaks planned for shale gas projects
Tax breaks for controversial shale gas exploration are set to be unveiled in Wednesday's Autumn Statement. Environmentalists fear the technique, known as fracking, could cause earthquakes and contaminate water. The Chancellor is also expected to confirm Britain's shale gas reserves are worth £1.5 trillion.
The Sunday Telegraph: Banker bashing is bad for Britain, says City broker
Michael Spencer, head of broking giant Icap, has said that "banker bashing has been in dangerous excess and is in danger of being counter-productive, damaging our whole nation". He said that while there had been wrongdoing, "it has turned into a witch-hunt with the presumption that all bankers are crooks which is not true".
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