Influential think tank, the Centre for Economics and Business Research (CEBR), has said higher inflation and low pay rises means British households face their biggest squeeze since 1921. The report suggests a typical British family will have £910 less to spend this year than they did in 2009 due to higher food and energy prices [...]
Leading think tank, the Centre for Economics and Business Research (CEBR), has today suggested higher inflation and unemployment will knock the housing market recovery and lead to a fall in UK house prices. It is forecasting a 1.7% fall for prices this year, reversing its earlier prediction of a rise of 0.8% for 2011. While [...]
Leading think tank, the Centre for Economics and Business Research (CEBR), has unveiled City bankers will be in receipt of a bonus pot of £7.3 billion this year. The total is 4% lower than last year’s total and considerably lower than the £11 billion paid out at the height of the banking boom in 2007. [...]
Influential think tank, the Centre for Economics and Business Research (CEBR), has today said the world is not in danger of a double-dip recession. Despite this, it has revised its growth forecasts downwards, now predicting that the global economy will expand by 3.5% this year and 3.4% next year. Down from the 3.7% and 4.1% [...]
Credit rating agency Moody’s has today said the UK’s top-ranked AAA credit rating is safe, as a result of the tough austerity measures, introduced by the coalition Government. Despite slower economic growth, the rating agency said the outlook for the UK’s public finances remained stable. There have been fears that the tough measures, announced by [...]
David Cameron, Britain’s new Prime Minister, has defended the former Government’s decision to keep Britain out of the euro. On his first overseas trip since becoming PM, Mr Cameron met French President, Nicolas Sarkozy, at the Elysee Palace in Paris yesterday. Today, he will travel to Germany to meet with Chancellor Angela Merkel. Mr Cameron [...]
Leading think tank, the Centre for Economic and Business Research (CEBR), has today claimed that the recession and unemployment would have been much worse if Britain had joined the euro. According to the think tank, if Britain had dropped the pound, the unemployment rate would be at 15% (double what it is now) and GDP [...]
The Centre for Economics and Business Research (CEBR) has revised its figure for house prices rises in 2010 and is now predicting an annual gain of over 6%. Furthermore, the independent consultancy is expecting a 20% increase in the value of the average home by the end of 2013. The forecast is based on continued [...]
The Centre for Economics and Business Research (Cebr) has reported that while UK house price growth will moderate in 2010, a rise of between 2% and 4% can be expected. Some commentators on the market are expecting significant house prices falls in the months ahead, but Cebr argues that this is unlikely for a number [...]
According to the Centre for Economics and Business Research (CEBR), City bankers will receive an estimated £6 billion in bonuses for this year, compared with £4 billion for 2008. The estimate comes despite public outrage against bonuses after a year of multi-billion pound bailouts within the banking sector. However, the CEBR did point out that [...]
The Council of Mortgage Lenders (CML) has today revealed a slight fall in the number of home loans for house purchase in August. According to the CML, there were 53,000 new mortgages granted in August compared to 56,000 in July. While the figure represents a 5% fall on the month, the figure represents a 30% [...]
Influential think tank, the Centre for Economics and Business Research (CEBR), believes interest rates will remain at their current historic level of 0.5% until 2011. Meanwhile, rates will not reach 2% until 2014 as a result of the severe fiscal squeeze on the UK economy which will result in tax rises and spending cuts. According [...]
The Centre for Economics and Business Research (CEBR) said today it expects house prices to lose a further 3% of their value during the remainder of 2009, before bottoming out and rising just 2% in 2010. Benjamin Williamson, CEBR economist, said: “Our view is that the extent of house price falls already seen means further [...]
The Centre for Economics and Business Research (CEBR) and the TaxPayers’ Alliance have joined forces to produce a doom-laden forecast for the UK economy. A report published today highlights “the dangerous reliance of the Treasury on optimistic predictions of the future economy” and goes on to predict up to 3.8 million unemployed, in a worst [...]
The influential think tank, the Centre for Business and Economic Research (CEBR), has warned that drastic measures are needed to get the UK’s budget deficit down to £50 billion by 2014/15. The UK recorded a record budget deficit of nearly £90 billion in 2008/09. The think tank suggested that the deficit could exceed the £150 [...]
There is bad news today with regard to UK jobs after the Centre for Economics and Business Research (CEBR) warned that 334,000 jobs will be axed across the business services sector by 2011. The study suggests that the credit crunch and recession will result in more than half of the jobs that were created in [...]
The Centre for Economics and Business Research (CEBR) is predicting that UK house prices will fall by 28% from their 2007 peak, before the downturn ends. According to the think-tank, the market will bottom out early next year, having lost a further 8%. A period of stagnation is likely to follow, with growth returning during [...]
Figures from the Centre for Economics and Business Research (CEBR) have revealed that the Government’s VAT cut, implemented on December 1st, is working after it led to £2 billion of additional sales. Douglas McWilliams, the CEBR’s chief executive, described the growth in retail spending as “remarkable” and said: “There was an immediate boost to the [...]
There was a time when the thought of UK house prices falling 10% would hardly have been cause for celebration. However, credit crisis Britain will be cheered by the latest report from the Centre For Economics and Business Research (CEBR) which predicts that prices will bottom out after a further decline of 10%. The think-tank [...]
The special liquidity scheme (SLS), which was set up to encourage banks and building societies to lend by allowing them to temporarily swap assets that were difficult to trade, has lent £185 billion since last April. The scheme, set up by the Bank of England, was originally for six months only but it was extended [...]
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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