Financial news

• Poverty is deepening in modern Britain – but will economic growth be the solution?

  21-03-2024 20:45
  
  Official figures will trouble Rishi Sunak during an election year as millions found to be strugglingAbout 300,000 more UK children fell into absolute poverty in a single yearModern Britain: the sixth-richest economy in the world, with 12 million people living in absolute poverty.The latest official figures showing the biggest increase in poverty in 40 years have been described by charity leaders and politicians as both “shocking” and “horrifying” in their confirmation of
  
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• The Guardian view on the Waspi women: findings of maladministration must lead to redress | Editorial

  21-03-2024 20:02
  
  Successive governments failed to explain pension changes. Thousands of women are entitled to compensation The final report by the Parliamentary and Health Service Ombudsman on the way pension entitlement changes affecting women passed into law between 1995 and 2011 is a milestone in a long-running campaign – but not the end. Five years ago the women lost a discrimination case they had brought against the government. Their complaint to the ombudsman was the result, and the verdict vindicate
  
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• 300,000 more UK children fell into absolute poverty at height of cost of living crisis

  21-03-2024 19:06
  
  Nearly fifth of population struggled with basic needs, it emerges, as charities accuse government of failing poorestYou’ve heard stories of poverty in Britain. Now here’s the irrefutable evidence of a society failing its poorestAbout 300,000 more children were plunged into absolute poverty in a single year at the height of the cost of living crisis amid soaring levels of hunger and food bank use, official figures show, prompting calls for an overhaul of the UK’s creaking welfar
  
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• Thousands of UK women owed pension payout after ombudsman’s Waspi ruling

  21-03-2024 18:37
  
  Manner in which state pension age was raised upended many retirement plans, but DWP has indicated it will not pay compensationThousands of women, potentially hundreds of thousands, are owed compensation because of government failings related to the way changes to the state pension age were made, a long-awaited official report has said.The Parliamentary and Health Service Ombudsman (PHSO) said those affected should be compensated. But the recommended payouts of between £1,000 and £2,9
  
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• Have you passed on a decent job offer because of unaffordable housing?

  21-03-2024 18:29
  
  We’d like to hear from people who decided not to take up a job offer because they could not find affordable housing close enough to the workplaceWe’re interested to hear from people who have recently opted to turn down a job offer they were interested in because they found housing in the area of the workplace too expensive.Whether you turned down a job because of unaffordable sale or rental prices for property within a reasonable distance to the workplace in question, and whether you
  
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• Biden administration to cancel $5.8bn in student debt for public service workers

  21-03-2024 18:28
  
  Under the Public Service Loan Forgiveness program, 77,700 people working in government and non-profit jobs will see reliefThe Department of Education announced on Thursday plans to cancel $5.8bn in student debt for 77,700 public service workers who qualify under the Public Service Loan Forgiveness (PSLF) program.The program, which was created in 2007, promises student debt cancellation to graduates working full-time in public service jobs in government and the non-profit sector. The program only
  
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• You’ve heard stories of poverty in Britain. Now here’s the irrefutable evidence of a society failing its poorest | Tom Clark

  21-03-2024 18:26
  
  Ministers boast of lifting families from ‘absolute poverty’ but figures show even that’s getting worse. The safety net has been shreddedIf you work in a shop, you’ll have noticed an extraordinary wave of thefts that retailers link to a growing black market in food. If you work in a hospital, you might have clocked a surge in diagnoses of malnutrition and other dietary deficiencies among patients. If you’ve walked around any large British city with your eyes open of
  
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• DWP state pension underpayments branded 'shambles' as action demanded

  21-03-2024 16:51 via express.co.uk
  
  Between January 11, 2021, and February 29, 2024 97,016 underpayments were identified adding up to £571.6m, according to the Department of Work and Pensions.
  
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• MAPPED: Best and worst UK areas to rent in as prices skyrocket by up to 20%

  21-03-2024 16:40 via express.co.uk
  
  It cost £1,238 a month to rent the average private home in Great Britain during the 12 months to February 2024, a nine percent increase on the previous year.
  
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• Recession already over for Brexit Britain, according to this key economic indicator

  21-03-2024 16:37 via express.co.uk
  
  Britain's economy grew for a fifth consecutive month in March, according to a closely watched economic indicator, signalling that it has already come out of recession.
  
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• Direct Line outlines cuts to see off takeover bid - and promises to improve prices

  21-03-2024 16:03 via express.co.uk
  
  Direct Line has promised £100million of cost cuts and a new growth strategy as part of new chief executive Adam Winslow's takeover defence against rival insurer Ageas.
  
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• What does the report on state pension age changes mean for UK women?

  21-03-2024 16:02
  
  Campaigners said older women lost out financially and some say their plans were cast into chaos. What exactly happened?Thousands of UK women owed pension payout after Waspi ruling‘I felt like I’d been scammed’: Chaos of state pension changesThousands of women born in the 1950s could be in line for compensation linked to changes to the state pension age and the potential bill could end up running into billions of pounds.The Parliamentary and Health Service Ombudsman (PHSO) said
  
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• ‘I felt like I’d been scammed’: woman describes chaos of state pension age changes

  21-03-2024 15:55
  
  Hilary Simpson was forced to make lump sum intended for five years stretch to over 10Thousands of UK women owed pension payout after ombudsman’s Waspi rulingWhat does report about UK state pension age changes mean for women affected?Hilary Simpson was happy in 2009, when she was 55, to take early retirement from her job in local government. She wanted to help her daughter get on in her career by taking on childcare responsibilities of her granddaughter. And, after 30 years of hard work, sh
  
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• Fraud victims 'more likely to suffer from anxiety and depression'

  21-03-2024 15:42 via express.co.uk
  
  More than half of people whose mental health was affected said they experienced anxiety.
  
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• Nationwide buyout of Virgin Money - what customer need to know and how it affects you

  21-03-2024 15:37 via express.co.uk
  
  The sale of Virgin Money is expected to complete in the fourth quarter of the year.
  
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• Next boss predicts retail price plunge despite Red Sea inflation crisis

  21-03-2024 14:51 via express.co.uk
  
  Next chief executive Lord Wolfson says that its prices are likely to fall this year thanks to falling factory prices, despite the Suez Canal crisis and rising staff costs.
  
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• Inheritance Tax receipts set to earn HMRC record-breaking amount of money

  21-03-2024 14:43 via express.co.uk
  
  Inheritance Tax Receipts reached £6.8 billion in the 11 months from April 2023 to February 2024 according to HMRC.
  
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• Direct Line to cut costs by £100m a year after rejecting takeover bid

  21-03-2024 13:55 via express.co.uk
  
  The car insurance giant said the savings would come from technology and digitisation initiatives and from simplifying the group's structure.
  
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