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. [...]
It has been announced that the tough austerity measures introduced by the coalition Government are set to lead to industrial action following a trade union gathering in Manchester today. At the annual Trades Union Congress (TUC) meeting, union leaders urged delegates to “stand up and fight” against the massive spending cuts. The motion was supported [...]
In the Government’s emergency budget in June, it was revealed that the benefits system would be in line for a radical overhaul. One option being considered would see unemployment benefits and tax credits abolished and replaced with a single payment, Work and Pensions Secretary, Iain Duncan Smith, has announced. The move is designed to cut [...]
The Office for National Statistics (ONS) is to publish UK unemployment figures this morning and analysts expect the figure to be around the 2.5 million mark. Figures last month 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. [...]
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 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 [...]
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 [...]
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 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 [...]
Despite the positive news that the recession may be coming to an end, a report today has revealed that unemployment will continue to rise until the end of next year – long after economic recovery. The Trades Union Congress (TUC), general secretary, Brendan Barber said: “Some now say that we have a recovery. But even [...]
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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