Job losses resulting from the Government’s spending cuts is expected to bring widespread industrial action next year, unions have suggested. In his New Year message, Brendan Barber, the TUC’s general secretary, claimed 2011 would be a “horrible” year of cuts and will also be tough for the Government. Unemployment will undoubtedly rise, said the union. [...]
A report by the Chartered Institute of Personnel and Development (CIPD) has warned that UK unemployment could reach 2.95 million, from its current 2.51 million, as a result of the Government’s planned spending cuts. According to the influential think tank, 750,000 public sector workers could join the dole queue as the new coalition Government embarks [...]
The Institute of Directors (IoD) is calling for the UK state pension age to increase to 70 as soon as “reasonably practical” due to “greatly increased” longevity. The group argued that the state and private pension systems had become so complex that people were being deterred from saving for their retirement. The group is also [...]
According to the TUC’s general secretary, Brendan Barber, Britain could be faced with a “double-quick, double-dip” recession if future Governments try to cut public sector jobs. The TUC leader described the outlook as “very precarious” and cuts in public spending could result in over four million people unemployed. Official figures show that unemployment increased by [...]
Figures released today by the Office for National Statistics (ONS) show the extent to which firms are having to cut costs as a result of the recession. According to the ONS, in the three months to May, 927,000 people said they were being forced to work part-time because they cannot find a full-time job. This [...]
The Office for National Statistics has today revealed that UK unemployment rose by 281,000 in the three months to May – the biggest quarterly rise on record. Unemployment in the UK has now reached 2.38 million – the highest since 1995, while the unemployment rate is up to 7.6% – the highest in over a [...]
The Trade Unions Congress (TUCs) has predicted that unemployment will continue to rise in the UK until autumn 2010, with the labour market not fully recovering until 2015. It made the prediction by comparing the current economic climate with official figures from the financial downturn during Britain’s last recession in the 1990s. According to the [...]
Brendan Barber, the head of the TUC, has warned that 2009 will be a ‘grim year’ due to ‘mass unemployment’ and is urging the Government to take immediate action. Mr Barber said unemployment is set to increase every month next year and in a New Year message said that a top priority for the Government [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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