News Team

As part of new rules to better protect consumers from scams, victims of authorised push payment (APP) financial fraud could soon be guaranteed refunds from their bank. The Payments Systems Regulator (PSR) has issued a consultation paper proposing making it mandatory for banks to reimburse victims of APP scams, in which people are tricked into … Read more

Furloughed workers are still more likely to suffer higher levels of unemployment, but sector shortages are protecting staff from the worst anticipated effects. Staff who were placed on furlough are six times more likely to lose their jobs than other workers, but an assessment of the programme has found that the end of the scheme … Read more

The UK’s independent forecaster has warned that households are set to remain worse off than they were pre-pandemic until 2023. Charlie Bean, a committee member of the Office for Budget Responsibility (OBR) told MPs that incomes would not return to 2019 levels for another two years. The main reason, he said, is ‘a very low … Read more

Small business leaders are more concerned by what was left out of the Autumn Budget than the announcements that were made. UK Business Forums (UKBF) says the Autumn Budget offers little by way of a robust plan for their economic recovery and calls it a ‘non-event’ for small businesses. Richard Osborne, founder of UKBF, says … Read more

Pensions are an easy target as the Chancellor comes under increasing pressure to restore the public finances in his budget on Wednesday. As Rishi Sunak refuses to rule out hitting investors, pension savers and shoppers, households should prepare for another round of the Chancellor’s tax raids. Prompting fears that Britons’ wallets will be squeezed in … Read more

As business costs increase and government support shrinks, insolvency experts predict more companies will experience failure in the coming months. Last month saw the largest number of business failures in England and Wales since the Covid pandemic began. Data from the Insolvency Service show that in September, company insolvencies totalled 1,446, increasing from 1,349 in … Read more

Business Secretary Kwasi Kwarteng is not proposing any additional government support for the business sector grappling with record gas prices. Firms could be forced to shut down operations, some industries have warned. Although Kwarteng has said he is working closely with the chancellor on potential support for energy intensive sectors, a Treasury source said this … Read more

The mass processing of personal data has resulted in a widening gulf between the cheapest and most expensive car and home insurance. Obtaining insurance at a reasonable price should be a universal right, but certain groups of people are being increasingly priced out of buying cover altogether. Insurers are scrutinising credit scores, occupations and even … Read more

Soaring prices will cause some members at the Bank of England to press for increased interest rates to control inflation, while others will state that now is not the time to do so. When the Bank’s Monetary Policy Committee (MPC) meets this week, there will be contrasting warning signs to consider as economic growth loses … Read more