Tag: scheme

UK banks introduce mentoring scheme for SMEs

UK banks introduce mentoring scheme for SMEs

The UK’s five largest banks: Barclays, HSBC, Lloyds Banking Group, Royal Bank of Scotland and Santander, have launched a scheme aimed at providing support and financial advice for small and medium-sized enterprises (SMEs). The initiative comes at a time when banks have come under fire for not lending enough to SMEs. Under the Project Merlin [...]

July 4, 2011 | 0 Comments More
Chancellor Osborne delivers 2011 Budget

Chancellor Osborne delivers 2011 Budget

Chancellor George Osborne has delivered his Budget speech today, what he has described as a “Budget for growth”. Firstly, Mr Osborne unveiled a scheme aimed at helping 10,000 first-time buyers purchase new-build flats and houses. The buyer would have to fund 5% of the cost, while the Government and home builder would both put up [...]

March 23, 2011 | 0 Comments More
HMRC: House sales rise in February

HMRC: House sales rise in February

HM Revenue & Customs (HMRC) has today revealed a slight rise in the number of homes sold in February in the UK. According to HMRC, 57,000 homes worth at least £40,000 or more were sold in the month – 4,000 more than January‘s levels. The figures come as the British Bankers’ Association (BBA) revealed a [...]

March 23, 2011 | 0 Comments More
New scheme will help first-time buyers

New scheme will help first-time buyers

Five local authorities are piloting a scheme which is set to help first-time buyers get on the property ladder. Since the credit crunch more than three years ago, first-time buyers have been struggling to secure a mortgage unless they have a substantial deposit. It is hoped that the scheme, called Local Lend a Hand, will [...]

March 16, 2011 | 0 Comments More
Measures may be needed to boost growth says Bank’s Bean

Measures may be needed to boost growth says Bank’s Bean

December 13, 2010 | 0 Comments More
Licensing scheme for estate agents to be launched

Licensing scheme for estate agents to be launched

A new licensing scheme for estate agents is to be launched. aimed at protecting consumers from unqualified estate agents. According to the National Association of Estate Agents (NAEA), most estate agents are reputable but anyone can start up as an estate agent in the UK without qualifications or formal checks. The new scheme was described [...]

November 18, 2010 | 0 Comments More
Workers to be automatically enrolled into pension scheme

Workers to be automatically enrolled into pension scheme

In a bid to encourage people to save for their retirement, the Government has announced that all UK businesses should offer a company pension scheme or enrol members of staff into the new National Employment Savings Trust (NEST). Employees will be enrolled automatically in the scheme unless they opt out, contributing 4% of their salary. [...]

October 27, 2010 | 0 Comments More
BCC calls for more stimulus to withstand harsh cuts

BCC calls for more stimulus to withstand harsh cuts

The British Chambers of Commerce (BCC) today echoed other reports and suggested the Bank of England needs to inject more money into the economy, via its quantitative easing (QE) scheme. QE, also known as printing money, is a process whereby the Treasury injects funds into the financial system to ease pressure on banks by giving [...]

October 12, 2010 | 0 Comments More
Government supports climate change with electric car investment

Government supports climate change with electric car investment

Earlier this month, Business Secretary Vince Cable warned that the UK’s car industry will not receive any further funding from the Government but said it would consider investing in measures which would reduce emissions from cars and to help transform the UK into a low carbon economy. As a result, the Government has today unveiled [...]

July 28, 2010 | 0 Comments More
Labour‘s Saving Gateway account axed in budget

Labour‘s Saving Gateway account axed in budget

A Saving Gateway scheme, aimed at encouraging low-paid workers to save, has been axed by the coalition Government. The scheme, proposed by Gordon Brown to help lower-income families, was due to be launched next month via the Post Office and would have contributed 50p for every £1 saved. It was designed to help up to [...]

June 23, 2010 | 0 Comments More
Obama approves housing aid for five US states

Obama approves housing aid for five US states

Approval has been given by the Obama administration to help areas affected by the housing bust, as part of a $1.5 billion programme. According to Treasury sources, plans for Arizona, California, Florida, Michigan and Nevada have received approval. Under the scheme, more than 90,000 homeowners are set to benefit broken down as follows:- California will [...]

June 23, 2010 | 0 Comments More
Budget change to Support for Mortgage Interest scheme

Budget change to Support for Mortgage Interest scheme

Yesterday’s emergency Budget contained a change to the Support for Mortgage Interest (SMI) scheme, which aims to give homeowners in financial difficulties time to find new employment or recover income, without the added stress of potentially losing their homes. The scheme involves lenders reducing a borrower’s monthly mortgage payments by deferring interest, which can be [...]

June 23, 2010 | 0 Comments More
Lloyds launches mortgage overpayment scheme

Lloyds launches mortgage overpayment scheme

Lloyds Banking Group is inviting its standard variable rate (SRV) mortgage customers to increase their monthly repayments. Under a new scheme that will run for a year, borrowers can overpay by up to 20% without incurring a financial penalty. Research by the bank, which is the UK’s biggest mortgage lender, suggests over 63% of mortgage [...]

March 13, 2010 | 0 Comments More
Fed warns of higher unemployment

Fed warns of higher unemployment

In its latest forecast for the world’s largest economy, the US central bank, the Federal Reserve, has said economic growth will be between 2.8% and 3.5% in 2010 - better than its previous forecast of 2.5% to 3.5%. However, the Fed has warned that despite strong growth for this year, unemployment will remain high. Earlier [...]

February 18, 2010 | 0 Comments More
Ford returns to profitability amid cost-cutting

Ford returns to profitability amid cost-cutting

US carmaker Ford has today reported its first annual profit since 2005 after a turbulent 12 months for the American car industry. The company reported an annual net profit for 2009 of $2.27 billion (£1.4 billion) compared with a loss of $15 billion in 2008. Meanwhile, for the fourth quarter of 2009, profit was $868 [...]

January 28, 2010 | 0 Comments More
US retail sales up 1.4% in October

US retail sales up 1.4% in October

Figures published by the Commerce Department today have revealed a better-than-expected 1.4% rise in US retail sales for the month of October. Analysts had expected a rise of 0.9%. The rise follows a revised 1.5% decline in September, and October’s rise was attributed to an increased demand for cars, despite the Government’s ’cash for clunkers’ [...]

November 16, 2009 | 0 Comments More
BoE widely expected to leave interest rates at 0.5% today

BoE widely expected to leave interest rates at 0.5% today

The Bank of England’s Monetary Policy Committee is today expected to keep UK interest rates on hold at the record low of 0.5% for the eighth month in a row. It is the first meeting since it was revealed on 23 October that the UK economy had not emerged from recession as hoped. Official figures [...]

November 5, 2009 | 0 Comments More
UK economy growth figures revised upwards again

UK economy growth figures revised upwards again

The Office for National Statistics (ONS) has today revealed that the UK economy contracted by 0.6% in the April to June period - rather than the 0.7% previously reported and the 0.8% reported prior to that. The latest revision comes as the manufacturing and construction sectors performed better than originally thought and brings further hope [...]

September 29, 2009 | 0 Comments More
Popular US Cash for Clunkers scheme comes to an end

Popular US Cash for Clunkers scheme comes to an end

The US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme has boosted car sales with Ford reporting a 17% rise in sales in August compared with July. General Motors (GM) said sales had soared by 30% from July this year but did report a 20% drop in year-on-year sales. Overall, total [...]

September 2, 2009 | 0 Comments More
CBI calls for new apprenticeships to tackle youth unemployment

CBI calls for new apprenticeships to tackle youth unemployment

The Confederation of British Industry (CBI) is urging the Government to deal with the growing levels of youth unemployment and is calling for £125 million of the Government’s £500 million recruitment subsidy fund to be spent on creating 50,000 new apprenticeships. The growing problem was highlighted last week by the Prince’s Trust and the University [...]

August 24, 2009 | 0 Comments More