The Bank of England has once again voted to keep interest rates at 5.25 per cent – a 16-year high. However, the minutes from the Bank’s most recent rate-setting committee suggest that they are looking to cut interest rates this August. If true, this would be the first drop in borrowing costs for more than…
Recent surveys indicate a mounting concern among British citizens regarding their retirement savings. As the cost-of-living crisis continues and the economy stays unpredictable, many people are worried they won’t have enough money to retire comfortably. The latest research from Wealth at Work revealed that 39 per cent of employees think they will never be able…
Over 200,000 pensioners – mostly women – are expected to receive letters from HM Revenue & Customs (HMRC) informing them that they are entitled to a payment of £5,000. The payments are due following errors made by the Department for Work and Pensions (DWP) resulting in underpayments to state pensions. Those mainly impacted by the…
According to an Office for National Statistics (ONS) survey from May 2024, 55 per cent of adults across Great Britain reported an increase in their cost of living compared to April. The data showed that 42 per cent of people said their cost of living had remained the same, and the other three per cent…
Recent research from MetLife UK has revealed that over half (52 per cent) of working parents have no form of financial protection. This means should they find themselves needing to take time off work to look after their unwell child they will have no additional financial support. The data highlighted that of the individuals without…
The UK’s consumer confidence grew again in May, with people continuing to see a brighter future for their finances. This is according to the Consumer Confidence Index from researchers GfK. They saw a two-point increase from April to May regarding people’s feelings about their economic situation. The Consumer Confidence Index provides insight into how UK…
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