UK mental health crisis sends disability benefits bill soaring, IFS says July 6, 2022 The UK’s mental health plight has led to a rise in disability benefits spending as claims increased. Research by the Institute for Fiscal Studies today showed that the number of people on disability benefits rose to 6 per cent of the working age population in 2020-2021, at 2.2m, with spending soaring by 70 per cent. [...]
Pound still at lowest level since start of pandemic amid government chaos July 6, 2022 The British pound is at its lowest level since the start of the Covid pandemic in March 2020 as the UK government faces a political crisis. The pound has slid 0.6% today to $1.1883 as a wave of ministers resigned from Boris Johnson’s government. Sterling initially dropped more than a cent to below $1.20 for [...]
UK firms slash debt levels as interest rates rise July 6, 2022 UK firms are paying off debt for the first time in eight years as rising interest rates dissuade further borrowing and strong cash flows are channelled into repaying existing debt, a new survey has revealed.
Clamp down on ‘rogue pension providers’ preventing transfers, PensionBee boss tells ministers July 5, 2022 The boss of fintech firm PensionBee has called on the government and regulators to clamp down on “rogue providers” preventing the transfer of pension pots, as ministers prepare to assess the impact of freedoms granted to retirement savers seven years ago.
£330 pay boost for 30m Brits as National Insurance threshold will rise to £12,570 from tomorrow July 5, 2022 Millions of Brits will get a modest boost in their pay packets this month as they grapple with surging living costs, because – from tomorrow – the threshold at which people pay National Insurance (NI) will increase. The UK Government has previously said this will benefit nearly 30m working people with a typical employee saving [...]
Premier League said to have asked clubs to back ban on gambling to avoid regulation July 5, 2022 Premier League clubs have been asked to back a voluntary ban on shirt sponsorships relating to gambling companies as the English football’s top flight looks to avoid legislation that could be part of a gambling White Paper due in the coming weeks. According to Sky Sports, clubs were contacted yesterday by their governing body with [...]
15 years of income stagnation leaves families brutally exposed to cost of living crisis with income inequality growing fast July 4, 2022 Real typical household disposable income growth for working age families has slumped to just 0.7 per cent a year in the 15 years leading up to the Covid-19 pandemic. This has left households, particularly those in rented accommodation and with young children, brutally exposed to the current cost-of-living crisis, according to new research published today [...]
Manufacturing Technology Centre rolls out four day week after trial boosts productivity July 4, 2022 Coventry-based firm the Manufacturing Technology Centre has rolled out a four day working week for staff after a trial period was found to have boosted productivity. The organisation, which aims to build technologies developed in academia, said that after conducting a two-year trial of flexible working with more than 600 of its staff, it would [...]
Female FTSE 100 directors earn 74 per cent less than male counterparts July 4, 2022 Female FTSE 100 directors earn 74 per cent less than their male counterparts, with an average pay of £245,000 compared to £935,000, research by Mattison Public Relations found. Women make up 14 per cent of the FTSE 100 board executives, with 34 of the 238 executive positions on FTSE 100 boards. They get an average 4 per [...]
Londoners owed £40m in council tax refunds July 3, 2022 London households are owed £40m in council tax refunds, new research yesterday revealed. An investigation by Moneysavingexpert.com showed that 862,027 households in England, Scotland and Wales were due a refund in overpaid council tax. With claims worth a total of £150.2m, households that have overpaid their council tax are owed an average of £174 each. [...]