The government has announced a review of its Support for Mortgage Interest scheme (SMI), which helps people receiving certain benefits if they are finding it difficult to pay their mortgage interest. SMI, which is available to people on benefits such as Income Support, Income-based Jobseeker’s Allowance and Pension Credits, costs the Government around £400 million [...]
The Office for National Statistics (ONS) has today revealed UK unemployment fell further in the three months to April. The ONS said unemployment fell by 88,000 in the three month period to 2.430 million – the biggest fall since August 2000. The latest figures means the unemployment rate remained flat at 7.7%. However, the number [...]
A report by the Prince’s Trust and the Royal Bank of Scotland (RBS) has found that the number of young people claiming unemployment benefit has soared – costing the economy £155 million a week. The number of 16 to 24-year-olds claiming jobseekers allowance escalated from 5,840 in 2008 to 25,800 this year, according to the [...]
According to the TUC, the number of people spending their second consecutive Christmas claiming Jobseeker’s Allowance has almost doubled. Using their calculations from official claimant count data, figures show the number of people claiming Jobseeker’s allowance for more than a year rose to 201,015 in November 2009, from 103,930 in December 2008. Furthermore, the TUC [...]
The Office for National Statistics (ONS) has today revealed that UK unemployment rose by 21,000 in the three months to October to 2.491 million, taking the unemployment rate to 7.9% – a 13-year high. However, the increase was slower than expected and was the smallest quarterly rise since March-May 2008 Furthermore, the number of Britons [...]
Lone-parent campaign group Gingerbread has said new rules mean unemployed single parents are facing severe pressure to return to work by the Government. According to the charity, new regulations means almost 70,000 single parents with a child aged 10 to 16 will now receive jobseekers’ allowance instead of income support. Currently, single parents aged over [...]
The UK economy has received a boost today with hopes that a recovery is well underway after the Office for National Statistics revealed that UK unemployment increased 88,000 to 2.47 million in the three months to August, taking the unemployment rate from 7.6% to 7.9%. Today’s figure was not as bad as expected and the [...]
The Office for National Statistics (ONS) has today revealed that unemployment grew by 210,000 to 2.47 million in the three months to July – the highest level since 1995. The latest figures take the unemployment rate to 7.9%, up from 7.8%, according to the ONS. Meanwhile, the number of people claiming jobseekers allowance increased 24,400 [...]
Despite the latest trend for “staycations”, British seaside resorts are being hit by unemployment. Staycations are a result of the recession as families tighten their purse strings, more people are holidaying in the UK to save money. However, according to the TUC, the trade union body, unemployment was at “crisis level” in many of England’s [...]
A report has warned of challenging times for school leavers this summer, according to the Prince’s Trust and the University of Sheffield. According to the figures, a record number of school leavers could be claiming Jobseeker’s Allowance and those leaving school with no GCSEs at all are twice as likely to sign on. Professor Danny [...]
Figures released by the Office for National Statistics (ONS) today show that the number of unemployed in the UK has risen to its highest level since 1995. Official figures show that unemployment increased by 220,000 to 2,435,000 in the three months to June, and takes the unemployment rate to 7.8%. The figures equate to around [...]
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 [...]
In a bid to prevent rising job losses, the CBI is proposing an “alternative to redundancy” scheme. The scheme would mean employees would remain at home for up to six months, with a view to being called back to work when economic conditions improve. Alternatively, if demand is still low, employees would then be offered [...]
The latest figures from the Office for National Statistics (ONS) have revealed that UK employment soared to 1.971 million between October and December – the highest level in over a decade. In addition, the ONS said the number of people receiving Jobseekers Allowance rose by 73,800 to 1.23 million in January – the fastest rate [...]
Figures from the Office for National Statistics have revealed that in the three months to October, the number of people out of work in the UK rose by 137,000 to 1.86 million. This represented the highest level in over a decade and takes the unemployment rate up from 5.8% to 6%. Meanwhile, the number of [...]
Figures from the Office for National Statistics (ONS) have revealed that UK unemployment is at an 11-year high. According to the ONS, in the three months to September the number of people out of work in the UK soared by 140,000 to 1.82 million, the highest level since 1997. Meanwhile, claims for Jobseeker’s Allowance rose [...]
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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