EU leaders are travelling to Brussels for an emergency summit – the 14th in 21 months – designed to tackle the euro zone debt crisis. The summit will also see leaders discuss Greece’s second bailout, as well as boosting the €440 billion rescue fund. There are still growing fears that Greece’s debt crisis could spread [...]
British Prime Minister, David Cameron, is urging European leaders to take “decisive steps” to deal with the debt crisis. Mr Cameron said the crisis is putting the global economy in a “precarious” situation and told leaders of the 17-member nation they had a “collective responsibility” to avoid a disaster. Mr Cameron told the Financial Times [...]
Prime Minister David Cameron has said the Government will not introduce major tax cuts but insisted he remains a “tax-cutting Tory”. His comments come just a few days after Deputy Prime Minister, Nick Clegg, claimed that millions of middle-class families who are set to become higher rate taxpayers from April will “barely notice” the difference. [...]
At the World Economic Forum in Davos, Switzerland, British Prime Minister David Cameron is expected to say later today that the UK economy is making “progress”. His speech will come just days after official figures revealed the UK economy contracted by 0.5% in the October to December period. The figures shocked economists who had expected [...]
British Prime Minister, David Cameron, has warned that next year will be “difficult” as he delivered his new year speech. However, Mr Cameron said Britain has a “really bright future to look forward to” and defended his Government’s spending cuts as tough but necessary, in order to trim the budget deficit. The cuts have received [...]
As Ireland looks set to accept a multi-billion euro loan, the International Monetary Fund (IMF) and EU officials have commenced their investigation of Ireland’s bank books. Yesterday, Governor of the Irish central bank, Patrick Honohan, said the country is expected to accept a “very substantial loan”. The news comes as speculation has been mounting all [...]
British Prime Minister David Cameron will head to China for trade talks, in a move designed to strengthen business with Beijing. Business secretary, Vince Cable, and Chancellor George Osborne have already met with ministers which will see the start of three days of negotiations, with the intention of forming a “much stronger” relationship with China. [...]
Prime Minister David Cameron has stood firm over his Government’s plan to cut housing benefits. The opposition claimed the policy was a “complete shambles” but the PM defended the moves and said: “These are difficult changes but I think it is right.” The proposals include ending the “council housing for life”, which means tenants in [...]
Prime Minister David Cameron has delivered a speech today at the CBI’s annual conference and has outlined a “strategy for growth” for Britain’s private sector – just days after his Government unveiled its harsh Comprehensive Spending Review. The spending cuts introduced by the Coalition Government have received mixed responses; many have been critical of them [...]
David Cameron is to deliver a speech today at the CBI’s annual conference and is expected to defend the recent spending cuts, while pledging to create a “new economic dynamism” in Britain. The Prime Minister intends to boost business confidence and growth and is expected to say: “This is an incredible opportunity for Britain – [...]
In a major speech in Milton Keynes this morning, Prime Minister David Cameron said the budget problems are even worse than thought and has laid the blame with the former Government. His speech, which comes ahead of the emergency budget on 22 June, issued a stark warning about the painful spending cuts which his Government [...]
In a major speech in Milton Keynes this morning, Prime Minister David Cameron is expected to issue a stark warning about the painful spending cuts which his Government is to implement in the years to come. Mr Cameron is expected to say: “The decisions we make will affect every single person in our country. And [...]
In an interview with the Sunday Times, Prime Minister David Cameron said action needed to be taken to deal with the “huge amount of debt” but promised to explain “the purpose behind the pain”. He said: “The country has got an overdraft. The interest on that overdraft is swallowing up things that the nation should [...]
In his first major speech since becoming Prime Minister David Cameron has today promised to “transform our economy” and make the next decade the “most entrepreneurial and dynamic in our history”. Outlining the Government’s strategy for economic growth, he has also pledged to help firms by cutting red tape, improving trade and transport links and [...]
Prime Minister David Cameron has today said the Bank of England needs to set interest rates in order to control inflation. UK inflation rose to 3.7% in April – the highest level in 17 months and far exceeding the 2% target. The rise was boosted by food, fuel and clothing price gains. Annual food inflation [...]
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 [...]
Conservative leader David Cameron, 43, has become Britain’s youngest Prime Minister in almost 200 years following Gordon Brown’s resignation after 13 years of Labour rule. Mr Cameron will now form a coalition Government with the Liberal Democrats, which represents the first such Government in the UK for 70 years. Announcing his resignation, Prime Minister, Gordon [...]
Speaking today at the annual conference of the Confederation of British Industry (CBI), Prime Minister Gordon Brown told business leaders that in order to sustain economic recovery, financial stimulus measures will be kept in place for as long as necessary. The PM warned that economic recovery would be put at risk if official support was [...]
AA Insurance has warned of a ‘Himalayan peak’ in the number of bikes stolen this summer as the recession makes bicycles an increasingly attractive easy target for thieves. Bike sales have surged in recent months as credit crunched Brits seek cheaper ways to get around town. Meanwhile, June to October is traditionally the busiest time [...]
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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