Osborne & Little, the fine furnishing fabrics and wallpaper business majority-owned by the Chancellor’s family fell into the red this year as rising raw material prices took their toll, its latest accounts show. The £32.8m turnover company, which has glamorous showrooms on the Kings Road in London and in Paris, Munich and Milan, paid one director £736,000 in salary and pension contributions. But no dividend was distributed to its shareholders, led by Sir Peter Osborne, who founded the firm with his brother-in-law Antony Little in 1968. George Osborne retains a 15pc stake via a trust. Sir Peter, the 17th holder of a ... (full story)