Wales to roll out world’s most generous basic income scheme with guaranteed income of £1,600 per month February 16, 2022 Wales is to introduce what is believed to be the most generous basic income scheme ever trialled in the world. Ministers want to use the scheme to assess the impact receiving a basic income has on young people as they leave care, particularly those from disadvantaged backgrounds. All young people leaving care who turn 18 [...]
Workers in these sectors could be owed thousands from HMRC as cost of living set to spiral February 15, 2022 With the cost of living set to spiral, research by tax refund experts, accountants have told City A.M. this morning many UK workers are unaware of the thousands of pounds they could be owed via a tax refund, particularly those working within construction, security, in offshore oil and gas or within the armed forces. It’s shaping [...]
Valentine’s day: Money can buy love as one in three Brits break up when partner goes broke February 14, 2022 They say you can’t put a price on love, but a new study would seem to suggest otherwise, with one in four Brits saying that financial responsibility is the most attractive trait in a partner, above looks or personality. According to new research conducted by digital wealth manager, Moneyfarm, 42 per cent of the UK [...]
Legal & General agrees £370m buy-in with Heathrow pension scheme February 10, 2022 Life insurance and pensions firm Legal & General has announced a £370m ‘buy-in’ with London Heathrow’s pension scheme to shore up the savings of more than 1,400 savers.
‘Outdated recruitment practices’ exclude job seekers with disability, criminal record or older workers February 10, 2022 Outdated recruitment practices should be addressed to tap into more diverse pools of talent, including those who are disabled, have prior criminal convictions and younger and older workers, according to an industry group. The call to action issued by Business in the Community (BITC) comes as analysis shows that there are 3.1m people in the [...]
Four day work week could close gender pay gap, argues women’s rights group February 9, 2022 Moving to a shorter working week could help to close the gender pay gap, according to a new report released today. When unpaid and paid work is combined, women continue to work longer hours than men but for less money, while overwork and overproduction are a direct cause of climate change, the Women’s Budget Group [...]
Treasury’s £4.3bn fraud write-off likely to be eclipsed by £20bn Covid loan defaults as CBILs and BBLs are not repaid February 8, 2022 The £4.3bn of Covid loans that may have to be written-off by The Treasury due to fraud and highlighted by the recent resignation of Lord Agnew, could be eclipsed by businesses failing to repay their CBILs and BBLs Covid support loans, an industry expert warns. £73.8bn has been loaned under the above schemes to around [...]
Female-focused investment programme launches to help close gender funding gap February 8, 2022 A new female-focused fundraising programme has launched today to aim to close the UK's gender funding gap and work with female founders to navigate unconscious bias in venture capital (VC) investing.
Nothing left: Less than one in three Brits to receive an inheritance despite overall pot growing fast February 3, 2022 Less than one in three Brits expect to get an inheritance from their family, partner or other loved ones, while those who are already relatively well off being significantly more likely to benefit, according to new data shared with City A.M. this morning. While the overall value of inheritances is expected to surge in the [...]
It’s a myth that ETFs are eating the world February 2, 2022 | City Talk ‘Software is eating the world’: so wrote the US venture capitalist Marc Andreessen back in 2011. From today’s perspective, with companies like Alphabet, Microsoft and Meta dominating the stock markets, Andreessen’s observation seems to have held up. Had BlackRock chief executive Larry Fink made similar comments about exchange-traded funds (ETFs) 11 years ago, he likewise [...]