Friday newspaper round-up: Whitehall pay squeeze, rail delays, Donald Trump, short sellers, NI cuts

(Sharecast News) - Civil servants are being overpromoted to get round a Whitehall pay squeeze, analysis suggests. "Grade inflation" in Whitehall is costing £1.5 billion a year and resulting in less-qualified staff doing senior jobs, the Institute for Government has warned. At the same time, permanent secretaries and other top officials who cannot be promoted are experiencing much bigger pay cuts that are driving talented people to the private sector, the think tank warns. - The Times New Year's Eve revellers are being encouraged to travel as early as Friday to avoid missing festivities as rail chaos continues across the country. Operators were urged to "come clean" over which services were likely to be cancelled this weekend after a second day of major disruption. Journeys across the country were disrupted again on Thursday in the aftermath of Storm Gerrit as rail lines were closed because of flooding and fallen trees. - Telegraph

Maine has blocked Donald Trump from its presidential primary ballot, becoming the second state to bar the former president from running, under a constitutional provision that prevents insurrectionists from holding office. On 19 December, a decision made by Colorado's supreme court removed Trump from that state's primary ballot, citing the same constitutional clause and setting up a legal showdown at the US supreme court. - Guardian

Hedge funds are poised to profit from any weak post-Christmas retail trading updates, with investors holding large short positions in some of the biggest chains. Retailers remain among the most heavily shorted stocks on the London Stock Exchange amid signs that the cost of living squeeze and mild autumn have hit consumer spending. - The Times

The bottom half of earners will lose any gains from next week's lowering of national insurance payments when their income tax bills go up in April, a leading think tank has warned. The Resolution Foundation said the combined effect of a cut in national insurance contributions (Nics) from 6 January and a freeze on income tax thresholds - pulling more people into paying higher rates as their wages rise - would only favour the top half of earners with incomes of £26,000 or more. - Telegraph