PM sets up possibility of income tax coming down in March and says control of welfare is a priority
Rishi Sunak has said he wants to cut taxes for working people further this year, possibly cutting welfare payments to fund it.
The prime minister said on Sunday his priority before the budget in March would be further tax cuts, which he said would entail stricter controls on public spending and benefits.
Continue reading...Unless from a wealthy family, internships for many mean chipping away at savings and cutting back on essentials
By day, he was mostly an unpaid intern, getting a glimpse of day-to-day life in university research as he networked with potential employers.
Nightfall would often send him rushing to his second shift; this time, at a library in the suburbs of Paris as he strives to pay his bills.
What we see is that, many times, they [internships] are actually replacing entry-level jobs
Tea Jarc, of the European Trade Union Confederation
Unpaid internships have really become a barrier for the social mobility of young people
María Rodríguez Alcázar, of the European Youth Forum
Continue reading...Financial pressures have led to postponement of 19% of divorces, involving 270,000 couples, Legal & General claims
The start of the new year is often boom time for divorce lawyers, but 2024 may be different as new research shows the cost of living crisis has delayed more than 270,000 couples from splitting.
Financial pressures delayed 19% of divorces, researchers at Legal & General found. The impact has been particularly pronounced since 2020, with income concerns, cost of living pressures and the price of divorce all cited as reasons to postpone the split.
Continue reading...Campaign groups call on regulator to abolish January bill increase, saying households are facing an ‘assault from all sides’
Midwinter energy price increases should be abolished to protect households from unaffordable bills “at the worst possible time”, according to a coalition of leading charities.
Charities and campaign groups have called on Ofgem, the energy regulator, to scrap future January bill increases as it prepares to raise the cap on energy prices by 5% from Monday.
Continue reading...Party says American-style sweetshops – some under investigation for tax evasion – are ripping off public
A Labour government will launch a crackdown on “dodgy” candy stores if it wins the next election, as part of plans to revitalise Britain’s high streets.
There are more than 20 of the US-themed sweet stores on Oxford Street, London, alone. Many of them appeared during lockdown as high-street stalwarts closed down and landlords faced the prospect of long-term empty shops.
Continue reading...This online tool will help you discover what is contributing to your household’s cost of living increases
Inflation has been soaring in the UK, with people being hit by higher prices for everyday essentials, but cost of living pressures are finally starting to ease.
The latest inflation rate for the 12 months to November 2023 means that goods and services cost 3.9% more than they did a year ago – in most cases, surpassing any pay rises workers can expect to receive.
Continue reading...Minister’s move follows reports of pensioners left unable to call for help
Telecoms providers have been forced to pause plans to impose digital phone lines on vulnerable customers after reports of pensioners left unable to call for help during power cuts.
Companies including BT and Virgin Media have been forced by Michelle Donelan, the technology secretary, to sign a charter to safeguard at-risk households during the nationwide switchover from analogue to internet-based landlines.
Continue reading...People who want to buy property costing more than £450,000 say they unfairly face losing money
Campaigners are pressing for changes to a UK government scheme for would-be first-time buyers that “fines” people if they use it to buy a home costing more than £450,000.
Martin Lewis, the founder of MoneySavingExpert.com, is among those calling for an urgent revamp of the rules that apply to lifetime Isas, which let people save for a first home or for their retirement.
Continue reading...Planned 10% UK increase as business rates rise will put pressure on already overburdened industry, says Alex Baldock
The boss of Currys has accused the government of failing to “understand or care” about UK retailers by pushing through a “big hike” in the UK’s minimum wage.
Alex Baldock’s comments come weeks after chancellor Jeremy Hunt announced plans to increase the legal minimum wage for the UK’s lowest paid workers to £11.44 an hour, representing a hike of almost 10%, from April 2024. The move will force employers to pay full time workers around £1,800 more per year.
Continue reading...Former British Gas executive tasked with leading turnaround in face of debts and controversy over sewage
Thames Water has appointed a former British Gas executive as its new boss with a pay package of up to £2.3m a year and tasked with leading a crucial turnaround as it faces mounting debts and controversy over dumping sewage in Britain’s waterways.
Chris Weston replaces Sarah Bentley, who resigned with immediate effect in June amid a backlash over the firm’s poor environmental track record. Weston will take up the role on 8 January.
Continue reading...Cost of festive season is up almost a quarter in three years, according to the Centre for Economics and Business Research
Consumers will pay more for less this Christmas, economists have warned, getting less of a bang for their buck than the faint phutting of a puny, overpriced cracker being pulled.
Although Britons will spend more than in the belt-tightening 2022 festive season, the resultant fare won’t yet match the pre-pandemic Christmases past.
Continue reading...Cost of debt rises for firm that left thousands of customers without running water in summer
South East Water, which left thousands of customers without running water this summer, has paid out dividends of £2.25m over six months while overseeing increased losses of £18.1m before tax.
The water company, which serves customers in Kent, Sussex, Berkshire and Surrey, made the payout to shareholders despite facing huge rises in the costs of its £1.4bn debt mountain, its half-year report showed on Thursday. In the six months to 30 September, the cost of serving the debt rose by £7.4m to £54.8m, as inflation and higher interest rates bit.
Continue reading...About 2.7m will have to choose between buying food or presents as cost of living crisis bites
Millions of people will have to make stark financial choices this Christmas including choosing between buying food or presents and be unable to afford to keep their homes warm through the festive season, according to new research by National Debtline.
About 6.5 million people will struggle to heat their homes sufficiently this festive season, while 2.7 million will have to choose between buying food or presents, highlighting the drastic impact the cost of living crisis continues to have on household budgets.
Continue reading...Access to huge parks, restaurants and transport links plus a Ted Lasso-factor lead area to top Rightmove’s ‘happy at home’ index
It is home to London’s largest royal park as well as big-hitting tourist attractions such as Kew Gardens and Hampton Court Palace, and has more recently become a place of pilgrimage for fans of the hit TV comedy Ted Lasso. Now, the borough of Richmond upon Thames in south-west London has been named “the happiest place to live” in Great Britain.
It received the accolade from property website Rightmove, which runs a “happy at home” index – now in its 12th year – where it asks residents how they feel about their area based on 13 “happiness factors”.
Continue reading...Consumers left angry and dismayed when they found out the truth about these terms, says Advertising Standards Authority study
Plastic bottles, takeaway cups and food packaging that could take an unlimited amount of time to break down are being advertised as “biodegradable”, with the advertising regulator calling for more clarity on such claims from businesses.
British consumers believe they are making green choices while disposing of waste when they are often not, according to a new report. The study, from the Advertising Standards Authority (ASA), based on extensive interviews with consumers, found widespread misunderstandings around common terms such as “biodegradable”, “compostable” and “recyclable”, leaving participants angry when they discovered what they meant.
Continue reading...Nationwide says average property price was £258,557 in November, £5,231 down on same month last year
UK house prices rose for a third consecutive month in November as the market responded to hopes that mortgage rate costs had peaked.
Nationwide, the UK’s biggest building society, said prices rose 0.2% month on month in November, after a 0.9% rise in October and a 0.1% rise in September. Economists polled by Reuters had forecast a 0.4% fall in prices in November.
Continue reading...Citizens Advice warns such credit schemes risk delivering ‘knockout blow’ to household finances
More than a quarter of adults in the UK will use buy now, pay later to help with festive spending, research suggests, with the proportion rising to more than half of parents with young children.
The survey for Citizens Advice also found 11% of respondents used such credit schemes to pay for groceries, a proportion that rose to 35% for regular BNPL users.
Continue reading...Underfunded, overstretched sector to become testing ground for battle against low pay but critics say policy is weak and vague
“My sister is a care worker. She was a care worker during the pandemic. Fourteen-hour shifts, often overnight. Unimaginable pressure. And the reward? A struggle every week – and I mean every week – just to make ends meet.”
So spoke Keir Starmer last month, drawing on experience close to home in his party conference speech to underline his determination to overhaul the cash-strapped social care sector.
Continue reading...Global energy watchdog says Russia cutting supplies has prompted efficiency upgrades and move to heat pumps
The Ukraine crisis has marked a turning point for Europe’s gas consumption, which is expected to fall again this year as homes and firms embrace efficiency upgrades and heat pumps, according to the global energy watchdog.
A report from the International Energy Agency found that the continent’s developed economies reduced their gas use by 15% in 2022 after Russia cut off flows after its invasion.
Continue reading...Opinium poll for the Observer reveals the public is unimpressed with Jeremy Hunt’s attempt to woo them by trimming national insurance
Rishi Sunak has received no poll bounce after cutting taxes in last week’s autumn statement, according to the latest Opinium poll for the Observer.
Following a week in which the chancellor, Jeremy Hunt, described a reduction in national insurance as “the biggest tax cut on work since the 1980s” Labour’s lead has increased to 16 percentage points over the Tories.
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