Should Interest Rates Protect The Economy Or Lower Inflation?

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

Road Pricing Could Follow Surge In Number Of Electric Cars

If the demand for electric cars proves to be stronger than forecast, the UK may suffer a double whammy of reduced tax revenue and greater congestion. The Government will ban the sale of petrol and diesel vehicles by the end of the decade and cars will be cleaner and greener, enabling the UK to achieve … Read more

Driver And Care Staff Shortage Likely To Persist After Furlough Ends

A mismatch between the skillsets of those needed and those losing jobs in the UK will continue unless the Government steps in after the furlough scheme ends, says the Resolution Foundation. According to a study by the leading thinktank, the UK’s shortage of lorry drivers and care staff is unlikely to be resolved by furloughed … Read more

NatWest Pays Compensation For Customers’ Account Closures

Customers who were denied mortgages, left to fend off debt collectors and forced to turn to food banks after NatWest closed their accounts have won a series of compensation payouts. Consumers have won claims of up to £500 from the taxpayer-owned bank, which has been heavily criticised for its strict anti-money laundering ‘de-risking’ safeguards. They … Read more

How Will Return Of Roaming Charges Affect UK Travellers?

As if we don’t have enough problems at the moment, roaming charges for using a mobile in the EU are threatening to make a comeback. Anyone planning a winter holiday in Europe this year should prepare to pay more to use their mobile phone while away, as roaming charges are due to make a very … Read more

A Glitch On A Credit File Could Increase Cost Of A Mortgage

As a glitch on a credit file could mean having to sign up to higher interest rates, all relevant agencies should be checked before applying for a mortgage. With Halifax launching a fixed-rate deal priced at 0.83pc last week, mortgage rates are at record lows, but these ultra-low rates are typically only available to those … Read more

Mortgage War Drives Interest Rates Down Below 1pc

Borrowers are being urged to lock in bargain interest rates that could save them thousands of pounds on their mortgage bill. Homeowners are currently being offered some of the lowest mortgage rates ever seen in the UK, as lenders fight for borrowers’ business. Last week, Halifax launched a two-year fixed deal at 0.9pc and a … Read more

It’s Brexit That’s Damaging UK Exports, Not Covid

Businesses that deal in exports, including many in the red wall, will be suffering for a long time, as report after report reaches the same conclusion. Trade with the EU is suffering and foreign investment is heading south, as Brexit begins to take its toll. Neither trend is temporary and both damage the Government’s stated … Read more

One Million Freelancers Risk Paying Too Much Income Tax

HMRC expects freelancers who are not trading to pay taxes on profits they have not made. When around one million struggling self-employed people are billed in a week’s time, they face paying too much income tax, because HM Revenue & Customs’ calculations have not taken into account coronavirus losses. HMRC is billing freelancers and SMEs … Read more

UK Inflation Surges To 2.5% As Food And Secondhand Car Prices Rise

The June figure is above analysts’ forecasts and is the highest since August 2018 as supply shortages and rising demand due to the easing of lockdown restrictions resulted in higher prices last month. Dearer clothing, food, footwear, fuel and secondhand cars were to blame for the jump in the annual inflation rate from 2.1pc to … Read more