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Tag: money

TORY ministers are being urged to put British clocks forward an extra hour to help alleviate the pressures caused by the cost of living crisis. The Liberal Democrat peer John Lee said moving to Central European Time would help reduce household bills as it would maximise daylight in the evenings....
ALMOST four in 10 people (38%) are worried about their finances up from 32% in January and the highest level since the start of the pandemic, according to researchers at University College London (UCL). This compares to 33% who are concerned about getting Covid-19, down from 40% in January, the...
STUDENTS and graduates in England will pay up to 12% interest on their loans this autumn, according to the Institute for Fiscal Studies (IFS). The rate will dip in March 2023, when a cap on the interest will kick in. The IFS says a rollercoaster of interest rates lies ahead,...
Almost half of adults were struggling to pay their energy bills before the biggest jump in prices in living memory came into effect this week, figures suggest. Some 43% of adults in Britain who pay energy bills said they were finding this very or somewhat difficult in March, according to the Office for...
Prince Andrew is embroiled in a High Court battle amid claims he was given more than £1 million on the orders of a former Goldman Sachs banker accused of swindling a woman out of her fortune. The Duke of York and his ex-wife Sarah Ferguson have been named in the legal case brought by Nebahat Isbilen, who...
ALMOST £19bn in old banknotes are still being used, six months before paper £20 and £50 notes stop being legal tender. Paper £10 and £5 banknotes have already been withdrawn, while paper £20 and £50 notes cannot be used after 30 September 2022. They have been replaced with new plastic...
NEARLY two-thirds of Londoners say looming hikes in council tax are not justified, a new poll reveals on Wednesday. The YouGov survey for the Queen Mary University of London’s Mile End Institute found 64 per cent of adults in the capital do not believe the council tax rises in April...
Interest rates have increased for the third time in four months as the Bank of England tries to calm the rise in the cost of living. The rise from 0.5% to 0.75% means rates are now at their highest level since March 2020, when Covid lockdowns began. Energy bills and...
Energy prices will rise for millions of people across the UK in October, right at the start of the cold weather. Regulator Ofgem said the price cap for default domestic energy deals would be raised to cover suppliers’ extra costs. The typical gas and electricity customer is likely to see...
A money launderer who was caught trying to smuggle almost £2 million out of the UK in her suitcases has been jailed for almost three years. The National Crime Agency’s investigation into Tara Hanlon, age 30 and from Leeds, began in October 2020 after she was stopped from boarding a...
Tesco Bank has said it will close all of its current accounts because most customers are no longer using them. The bank has estimated only 12% of its current accounts are being used by customers as their primary account. It said most had “limited activity” and others were being used...
Christmas shoppers flooded England’s high streets for the first weekend since lockdown was lifted and non-essential stores were allowed to reopen. Despite the difficulties of the pandemic, retail experts predicted £1.5bn would be spent in shops nationwide on Saturday. Taking advantage of the first non-working day to do their Christmas...
Transport for London’s current funding arrangement with the Government has been extended two weeks as talks between the two continue. Ministers are demanding that London’s congestion charge zone is extended and fares are raised in return for a £1 billion bailout package, Sky News reported. A TfL spokeswoman confirmed that...
Over 80,000 UK firms have voluntarily returned more than £215m to the government in furlough scheme payments they did not need or took in error. According to HMRC figures, some 80,433 employers have returned cash they were given to help cover workers’ salaries. The money is a small part of...
Officers from the Met’s Operation Venice Scorpion and Venice Investigation Team (VIT) have arrested a man and seized what is believed to be almost £1 million in cash. Detective Chief Inspector Shaun White, who leads the Operation Venice Command, said: “Whilst we are in the process of counting all of...
A Bank of England scenario sees UK GDP falling 14% this year, its worst annual slump for more than 300 years, and the jobless rate hitting 8% as the coronavirus crisis ravages the economy. The Bank released its first work on the potential impact of the lockdown measures to limit...
INSPIRED by Colonel Tom Moore, a 100-year-old Muslim man has raised more than £70,000 for coronavirus victims. Dabirul Islam Choudhury is fundraising for those affected by the Covid-19 pandemic in both the UK and Bangladesh by walking laps of his community garden while fasting for the religious festival of Ramadan. Following in the footsteps of national treasure Colonel...
THE government is now paying the wages for nearly a quarter of UK jobs under a programme aimed at helping people put on leave due to the virus pandemic. About 2.5 million people registered last week for the scheme, bringing the total claims to 6.3 million – 23% of the...