What The Sunday Papers Said

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The Independent Online

George Osborne will this week pave the way for the first overhaul of the Bank of England's mandate since the monetary authority was granted operational independence under Labour in 1997.

In Wednesday's Budget, Mr Osborne is expected to tell the House of Commons that the UK's monetary policy framework will be reviewed to see whether it could be made more effective.

The Sunday Times: American firm to grab helicopter rescue deal

An American helicopter operator is set to win a £3bn contract to take over Britain's search and rescue service.

Bristow, which is listed in New York and based in Houston, has beaten Bond Aviation, a British rival, to secure the 13-year deal.

The rescue service is currently run jointly by the Royal Air Force, the Royal Navy and the Maritime & Coastguard Agency.

The Mail on Sunday: Feuding airline chiefs unite for attack on passenger tax

Rival airline chiefs have joined forces in an unprecedented show of unity to call on the Chancellor to scrap air passenger duty in Wednesday's Budget to boost growth.

The tax is included in the ticket price paid by all passengers flying from a British airport and can add £92 to the cost of a standard-class long-haul flight, or £13 to a short-haul flight, experts have claimed.

The Sunday Telegraph: Apax in talks for potential £1bn Travelex sale

The private equity firm Apax has been approached over a potential £1bn sale of Travelex, the foreign exchange business. Although the talks, thought to be with an Asian buyer, were unsolicited, they could spark a formal sales process later this year. Travelex, founded in 1976 in London, trades more than 80 currencies in more than 50 countries.