Financial news

‘A deeply broken system’: is it time England abandoned council tax?

07-04-2024 14:00

In London, rates for Battersea power station’s £8m flats are still set with reference to its low-value past, and their rich owners pay less than householders in HartlepoolBattersea power station offered no prospect of luxury living when Tony Belton became a local councillor in 1971. The coal-fired behemoth was nearing closure after 40 years of belching soot over London, and would spend almost as long in dereliction and blight as a result of false starts at redevelopment.By 1991, most

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Skiing holidays, school fees, second homes… the rich are truly deserving of our pity | Catherine Bennett

07-04-2024 08:00

The cries of the poor – merely short of food and heat – are drowning out other people in needPerhaps it’s down to upbringing, maybe it’s a fault in their education: for whatever reason, struggling high earners are apt to be their own worst advocates.Assuming the financial pain is as severe as some are claiming, you wonder if they wouldn’t do better to invite cameras and a celebrity, following in the footsteps of Matthew Parris and Michael Portillo, to join their com

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Secret home insurance commissions raking in millions for landlords in England and Wales

07-04-2024 08:00

Insurers have made huge hidden payments for buildings cover over many years, experts sayLandlords of developments in England and Wales where residents face hefty service charges face calls to disclose millions of pounds in “secret commissions” raked in over the years for arranging buildings insurance.Experts say these hidden commissions, paid to landlords including City investment funds that hold freeholds and managing agents, have been worth tens of millions of pounds a year. The ar

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Britain’s staycation boom may be over as bookings dry up

07-04-2024 06:00

The cost of living, cold weather and a surplus of holiday lets have hit rental property owners in both cities and the seasideIs the British staycation boom over? Short-term holiday rentals experienced a surge in recent years, especially during the pandemic, when Britons stayed at home in the UK, leading to a spike in rates.However, holiday-let owners across the UK are reporting a significant fall in bookings so far this year as the sector feels the effects of the cost of living crisis, poor weat

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