Financial news

• Ofwat accused of showing ‘contempt’ to customers over water bill price rises

  11-07-2024 20:15
  
  Politicians and campaigners condemn charging proposals, as regulator puts Thames Water into special measuresCompany by company: how much more might you pay?Thames Water placed in special measuresPoliticians and campaigners have condemned proposed water bill rises for England and Wales, accusing the industry regulator of showing “contempt” to customers who have endured poor service, sewage dumping and leaks.Ofwat’s recommendation on Thursday that households pay on average £
  
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• Labour pressed to end two-child benefit cap with 1.6m youngsters affected

  11-07-2024 19:29
  Campaigners say figure is shameful and that Tory policy is single biggest driver of child povertyThe Labour government has come under fresh pressure to abolish the two-child benefit limit after the latest official figures showed a record 1.6 million children were living in families affected by the controversial policy.Campaigners, charities and MPs across the political spectrum described the figures as shameful and renewed calls for the benefit limit to be scrapped, saying the much-criticised po
  
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• Water bills in England and Wales: how much more might you be paying?

  11-07-2024 18:59
  
  The regulator is allowing different companies to put up prices by different amounts. Here’s what it will meanOfwat accused of showing ‘contempt’ for customers over price risesThames Water placed in special measuresConsumers face a sharp rise in water costs after the industry regulator gave permission for companies to increase bills to pay for stopping sewage spills and fixing leaking pipes.Ofwat published its assessment of English and Welsh suppliers’ spending plans for 2
  
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• Labour has power at last. Will it use it to scrap the inhumane two-child benefit cap? | Ruth Patrick

  11-07-2024 16:06
  Shoes too small, not enough food to go around: children I work with are suffering the effects of this catastrophic policyRuth Patrick is a professor of social policy at the University of YorkOne Born Every Minute was magical reality TV, inviting us into the delivery suite to marvel at the everyday miracle that each new life brings. Who doesn’t love the feeling of hope, possibility and fresh beginnings that comes with a baby’s birth?But for the past seven years, the opportunities of m
  
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• Rise of £94 in water bills over five years is ‘bitter pill’, says chancellor

  11-07-2024 14:11
  
  Customers in England and Wales to pay an extra £19 each year on average as firms raise money to tackle sewage and leaky pipesThames Water placed in special measuresCompany by company: how much more might you pay?Water bills in England and Wales will rise by an average of £94 over the next five years, under plans set out by the regulator and described by the chancellor as “a bitter pill” for households.Rachel Reeves said the planned 21% increase to an average of £535
  
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• UK economy grows by 0.4% in May; households face £94 water bill increase over next five years

  11-07-2024 08:59
  UK economy resumes recovery from recession; 21% increase in water bills is less than water companies asked forHere is our full story on water bills.Back to the UK economy returning to growth in May, which is a boon for Keir Starmer’s government.While the warmest May on record may have helped activity in the services and construction sectors, UK GDP is now undeniably picking up steam. The short-lived recession is now very much behind us. It’s now likely that Q2 growth could come close
  
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• Water bills to rise by £94 over next five years in England and Wales

  11-07-2024 08:50
  
  Increase amounts to about £19 each year and is a third less than requested by water companiesBusiness live – latest updatesWater bills in England and Wales will rise by an average of £94 over the next five years, in plans set out by the regulator.The sum is a third less than the increases requested by companies, and amounts to a rise in bills of about £19 each year over the period. Continue reading...
  
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• Dartford Crossing charge firm told me not to pay, but still fined me £2,230

  11-07-2024 08:00
  
  Despite being told there was ‘no crossing to be paid’, a driver received 23 penalty noticesIn November I had to start using my boss’s car for work. After making my first journey across the Dartford crossing on the M25, I tried to pay the Dart charge. I typed in the car’s details but the website clearly stated there was “no crossing to be paid”.I presumed that this meant my boss had the car on his own Dart account. As a result, I did not add it to my own accoun
  
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• London stock market rules shaken up in attempt to stop firms moving overseas

  11-07-2024 07:00
  Changes will allow companies to skip shareholder votes on takeovers, which critics say risk ‘diluting the quality’ of the UK marketThe City watchdog will trigger the biggest shake-up of London stock market rules in more than 30 years this month, in an attempt to make the UK a more attractive place to list shares.The Financial Conduct Authority (FCA) confirmed on Thursday it would streamline and loosen rules for listed companies on 29 July, after months of hand-wringing over an exodus
  
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• Trader recommendation websites must vet firms, says watchdog

  11-07-2024 01:01
  
  CMA draft guidance says platforms must also tackle fake reviews and sanction rogue tradersPopular trader recommendation websites must vet the firms they advertise and tackle fake reviews under new rules designed to protect households from cowboy builders and tradespeople.Nationally, unscrupulous traders cost homeowners about £1.4bn a year, according to trading standards authorities, a problem that is escalating as demand for home improvements, loft conversions and extensions increases. Con
  
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