Financial news

• Hunt says plan to scrap employee national insurance could ‘take more than a decade’

  13-03-2024 19:42
  
  Chancellor’s unfunded proposal would be ‘work of many parliaments’ and depended on growth of economyJeremy Hunt has admitted his unfunded proposal to scrap employee national insurance could take more than a decade, after conceding it would require a sharp increase in economic growth to avoid making cuts to public services.With the government under growing pressure to explain how the plan could be afforded, the chancellor told MPs on the Commons Treasury committee: “It won
  
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• Want to tackle council tax inequity? Look back to George Lansbury | Letter

  13-03-2024 17:59
  
  June Perry recalls Poplar’s Labour mayor, who led an East End rebellion over a century ago In recent discussions about the inequities of council tax (Letters, 5 March), I am surprised that no one has referred to the almost identical struggles faced by George Lansbury in Poplar, east London, a century ago. The council there was faced with the similar problem of a poor community being expected to pay for the care of those needing help, whom it had in greater numbers than its richer neig
  
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• Victoria Coren Mitchell: Ovo pocketed thousands ‘they were not owed’

  13-03-2024 16:17
  
  Broadcaster shares energy provider’s alleged incorrect billing on X, saying ‘nothing but legal action will do’The writer and broadcaster Victoria Coren Mitchell has indicated she may take legal action after claiming that her energy provider, Ovo Energy, wrongly pocketed thousands of pounds “that they were not owed”.She is the most high-profile Ovo customer yet to apparently be on the receiving end of incorrect bills. Her case prompted the consumer group Which? to ca
  
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• Ground rent not legally or commercially necessary, says UK watchdog

  13-03-2024 15:37
  
  CMA says government may have to step in to protect leaseholders, as thousands in England and Wales remain trapped in contractsBritain’s competition watchdog has said ground rent is “neither legally nor commercially necessary” and that government may need to step in to protect consumers from soaring costs.The housing secretary, Michael Gove, is considering capping all existing ground rents – possibly reducing them to a nominal “peppercorn” level, in effect zero
  
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• Holiday home owners in the UK: are you planning to sell up or switch to long-term letting?

  13-03-2024 15:10
  
  We’re interested to hear from British owners of furnished holiday lettings about their plans amid higher interest rates and the loss of tax reliefThousands of UK owners of holiday homes will lose a major tax break as a result of changes announced by chancellor Jeremy Hunt in the spring budget, in an effort to boost the supply of long-term rentals in British communities.The furnished holiday letting (FHL) tax regime – scrapped from April 2025 – currently allows the owners of abo
  
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• The UK economy is climbing again – but the road ahead looks rocky

  13-03-2024 14:37
  
  Figures may seem positive at first glance but the broader picture for UK plc is still one of relative stagnationHopes of UK exit from recession boosted as GDP risesUK’s weak economy is taking a toll on its labour marketBritain’s economy is on the road to recovery. After a dismal end to last year as soaring living costs forced households to cut back their spending, official figures show growth returned in January with a modest 0.2% increase.The early signals show that the UK is on tra
  
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• Metro Bank to axe 1,000 jobs and cut branch opening hours in overhaul

  13-03-2024 09:41 via express.co.uk
  
  The troubled high street lender said previously announced plans to cut annual costs by £50 million was seeing it shed around 22% of its 4,266-strong workforce by mid-April higher than the originally expected 20%.
  
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• NS&I responds as Premium Bonds customer slams 'appalling' phoneline after 7 failed calls

  13-03-2024 08:58 via express.co.uk
  
  They were told there was no email address linked to their account despite them previously providing this.
  
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• Britain's GDP finally rises as economy grows by 0.2% in latest quarter

  13-03-2024 08:04 via express.co.uk
  
  The services and construction industries have led the way for Britain's GDP boost.
  
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• Vueling airline owes us £969 but won’t pay up

  13-03-2024 08:00
  
  Compensation was due after a cancelled flight but it is ignoring us despite a ruling from the watchdogCan you help me get the £969 I am owed by Spanish airline Vueling. You really are my last hope.In September 2022, we were due to fly from Gatwick to Barcelona, but the airline cancelled the flight while we were waiting to board. The whole thing was a nightmare and we ended up driving to Heathrow and paying more than £1,000 to get on a BA flight. Continue reading...
  
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