Category Archives: Money

UK chancellor urged to remove ‘hidden taxes’ from energy bills

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Businesses, charities and other groups sign letter calling for levies to be paid by the government

More than 120 organisations including big businesses and charities have called for the removal of “hidden taxes” added to energy bills to help reduce costs for consumers and prevent businesses closing.

In a letter to the chancellor the signatories – including Energy UK, business trade body the CBI, End Fuel Poverty and Age UK – called for levies amounting to 10% of energy bills that fund policies to be paid for by the government. John Healey is to present his first budget on 28 October.

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UK chancellor urged to remove £100k childcare ‘cliff edge’ prompting parents to cut work hours

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Critics say threshold pushes higher-paid staff to cut back on work and often mothers to stop working to avoid losing entitlement

John Healey has been urged to fix the £100,000 childcare “cliff edge”, that means some higher-paid employees cut back on work to avoid losing their entitlement.

Since the latest expansion of taxpayer-funded childcare in 2024, families with young children in which both parents earn less than £100,000 a year can be entitled to 30 hours a week of care - or none at all, if one of them cross that threshold.

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US labor unions saw membership gains in 2025, mostly in states with bargaining protections

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Uptick in US union membership coincides with high public approval ratings of unions

After years of decline, union membership in the US increased by 411,000 members in 2025, the largest increase since 2008, according to a new report.

The report makes clear the impact that “right to work” laws can have on union membership: most gains were concentrated in states that protect collective bargaining.

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UK mortgage borrowers brace for rate jump amid global bond sell-off

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Swap rates rise to three-year high as increase in oil prices leads to fears of higher inflation

Homeowners in the UK are braced for a jump in mortgage rates, driven by higher inflation and interest rate increase expectations amid turmoil in the global bond markets.

UK swap rates, which lenders use to price mortgages, have risen to a three-year high, as this week’s global bond market sell-off ripples through the economy.

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UK houses near top state secondary schools cost £40,000 more, research reveals

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Premium of nearly 10% paid by housebuyers comparable with cost of a cheaper private school over seven years

A house near a top state secondary school costs an extra £40,000 on average, according to research that reveals education premiums that rank alongside some private school fees.

The average property in a postcode district that includes a top 50 state secondary commands a price tag of £415,791, compared with £375,217 across the wider local authority areas in which those schools are located, a UK-wide analysis by the estate agent Yopa found.

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AA could face £5bn takeover move by German insurer Allianz, reports claim

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Breakdown recovery group’s private equity owners reportedly in talks with various suitors to sell company

The German-based financial services company ⁠Allianz is considering a £5bn takeover swoop for AA, ⁠the breakdown ⁠recovery ​group, Sky News has reported.

Allianz was ‌one of a small number of parties holding talks with advisers to AA about a deal, Sky News said, adding that ‌the private equity outfit EQT was another bidder.

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Burnham announces crackdown on rogue bailiffs and ‘cowboy builders’

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New rules are aimed at protecting people in debt in England and Wales and stopping homeowners being ripped off

A clampdown on “rogue bailiffs” has been launched by Andy Burnham amid concerns that vulnerable people are being overcharged and face aggressive behaviour.

In the latest in a series of “everyday fixes” to ease the cost of living and “make Britain fairer”, the prime minister said he was strengthening the rules that apply to bailiffs in England and Wales to better protect people in debt.

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Households in Great Britain ‘could owe energy suppliers £7bn by end of year’

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After higher prices for winter kick in, energy debt unpaid for more than 30 days likely to rise, says Energy UK

Households in Great Britain could owe their energy suppliers as much as £7bn by the end of the year after higher gas and electricity prices forecast for the winter kick in, an industry group is warning.

Domestic energy debt and arrears climbed by about £500m over the past year to a record £6bn at the end of June as the Middle East conflict continued to stoke rising gas market prices.

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‘Friday afternoon fraud’: warning for UK homebuyers on bank scams

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Victims have lost tens of thousands – and in one case £300,000 – due to fake emails from solicitor or estate agent

You are poised to move house and are awaiting the solicitor’s instructions that things are ready to go and it is time to hand over your deposit. When the email arrives giving you their bank details, you set up the transfer and move the cash. And then the solicitor calls to ask where the money is.

Conveyancing fraud involves criminals getting access to an email chain between homebuyers and their solicitors or estate agents and requesting payment to a bank account they control. Sometimes the solicitor has been hacked, but often the homebuyer has been the victim of a phishing exercise.

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Rising inflation underlines scale of Andy Burnham’s cost of living challenge

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PM’s plan to shield households from more pressure risks being overwhelmed by wider price rises

July’s increase in inflation, to 2.9%, is likely to be the first of several, underlining the challenge facing Andy Burnham in shielding consumers from a fresh cost of living squeeze this autumn.

Rising energy bills, as an increase in Ofgem’s quarterly price cap came into force, were the main driver of the jump in inflation, from 2.6% in June. That was partly offset by cheaper fuel prices – the knock-on effect of hostilities easing in the Middle East, after Donald Trump hailed his “memorandum of understanding” with Iran in June.

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Burnham scraps restrictions on disabled people’s bus passes in England

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Move means holders will be able to travel free on local services at any time of day or night from April next year

Disabled people across England will be able to use their free bus passes at any time of day from next April, as Andy Burnham expands a policy he introduced as mayor of Greater Manchester.

The prime minister has said the current weekday restrictions on when disabled people can use their bus passes will be removed from 1 April 2027. Their passes are valid only between 9.30am and 11pm on weekdays, although some councils pay to allow people free travel outside those hours.

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Burnham scraps restrictions on disabled people’s bus passes in England

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Move means holders will be able to travel free on local services at any time of day or night from April next year

Disabled people across England will be able to use their free bus passes at any time of day from next April, as Andy Burnham expands a policy he introduced as mayor of Greater Manchester.

The prime minister has said the current weekday restrictions on when disabled people can use their bus passes will be removed from 1 April 2027. Their passes are valid only between 9.30am and 11pm on weekdays, although some councils pay to allow people free travel outside those hours.

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Asking prices for newly listed homes in UK’s richest borough fall by £100k in one month

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Fierce competition in some areas of London means landlord purchasers are making successful lowball offers

The average price of a home coming up for sale in Britain’s richest borough has dropped by almost £100,000 in a month as fierce competition among sellers in many areas prompts some to slash their price expectations, data shows.

The property website Rightmove said that for Britain as a whole, average newly listed asking prices for homes had fallen by 2% over the past month, the largest August price drop in eight years.

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Will Andy Burnham’s everyday fixes be enough to get the public on his side?

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The prime minister’s money-saving policies are popular but they are yet to convince voters he can take on the big things

It was last year that Martin Lewis, the money-saving guru, advised the government to find “100 small things that piss people off” and set about sorting them out.

That approach has been adopted almost immediately by Andy Burnham since entering office, as he began his programme of “everyday fixes” to tackle problems that can be dealt with through minor policy tweaks.

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Healey urged to be bold on borrowing in first test of Burnham’s growth pledge

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Some want the chancellor to exploit newly flexible fiscal rules – others want a more creative approach, such as borrowing from markets

With just 12 weeks to go until his first budget, new chancellor John Healey is seeking ways to ramp up public investment, without busting the Treasury’s fiscal rules – and some economists are urging him to be bold.

As he settles into No 11 Downing Street, the former defence secretary’s most immediate challenges concern day-to-day government spending.

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Healey urged to be bold on borrowing in first test of Burnham’s growth pledge

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Some want the chancellor to exploit newly flexible fiscal rules – others want a more creative approach, such as borrowing from markets

With just 12 weeks to go until his first budget, new chancellor John Healey is seeking ways to ramp up public investment, without busting the Treasury’s fiscal rules – and some economists are urging him to be bold.

As he settles into No 11 Downing Street, the former defence secretary’s most immediate challenges concern day-to-day government spending.

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Healey’s profiteering warning on food and fuel risks row with retailers

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Chancellor says the government wants to prevent shoppers being ‘taken for a ride’ at the pump or till

The chancellor, John Healey, has said the government is standing by to prevent the public from “being taken for a ride at the pump or the till” as the Iran war continues to hit prices.

While he said there had been “no significant evidence of so-called price gouging” during the crisis, he used a weekend column to tell the big retailers that ministers were “watching closely” for any signs of profiteering.

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Capital One says it closed Trump Organization’s accounts after anti-money-laundering review

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Disclosure from 2021 investigation marks first time a bank has formally tied money-laundering concerns to Donald Trump

Capital One Financial hit back on Friday against a lawsuit over its ⁠decision to close the Trump ⁠Organization’s bank accounts ​years ago, stating that it did so after a review by anti-money-laundering experts.

The disclosure marks the first time a bank has formally tied money-laundering concerns to Donald Trump’s family business. Capital One is seeking to dismiss the case by casting doubt on claims of illegally debanking – or denying services on religious or political grounds – the Trump Organization.

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‘Customers prefer AI chatbots,’ says British Gas owner as 1,300 call centre jobs axed

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CEO Chris O’Shea defends Centrica’s plans as it reports rise in retail profits following focus on bigger margins

The owner of British Gas has claimed that most households would rather speak with an AI chatbot than deal with the company’s staff as it prepares to cut 1,300 jobs from its call centres.

Centrica, the supplier’s FTSE 100 owner, plans to cut 800 jobs as the company carries out a “targeted deployment of AI tools”, on top of the 500 cuts it confirmed last month.

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Pay gap widens as UK bosses get 130 times average worker’s salary

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In its final report the High Pay Centre says the median remuneration of a FTSE 100 CEO has risen to a record £5.06m

The bosses of Britain’s largest listed companies received record pay last year, fuelling the widest earnings gap with workers in eight years.

Median pay for FTSE 100 chief executives hit £5.06m in the last financial year, according to data released by the High Pay Centre, an 8.6% increase on £4.66m the previous year and the highest level on record.

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