Financial news

• Tax avoidance whistleblowers will earn share of HMRC proceeds, says Reeves

  26-03-2025 20:47 via theguardian.com
  
  Chancellor promises ‘compensation’ for information on tax-dodgers, based on US model, in move to close £1bn ‘tax gap’Whistleblowers who inform HMRC about tax-dodging will get a cut of any money collected as a result, the government confirmed, as Rachel Reeves announced plans to raise an extra £1bn a year by closing the “tax gap”.At her first budget in October, Reeves vowed to collect £6.5bn a year by cracking down on tax avoidance, which is l
  
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• Spring statement 2025: what does it mean for your finances?

  26-03-2025 19:59 via theguardian.com
  OBR says average income of 3.2 million families affected by benefits cuts will drop by £1,720 a year in real termsUK politics live - latest updatesThe chancellor, Rachel Reeves, has delivered her spring statement, and the Office for Budget Responsibility (OBR) has published its latest report on what the plans will mean for the wider economy and individuals. Here’s what it means for you. Continue reading...
  
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• ‘People have been pushed to the brink’: welfare cuts spark fear in Blackpool

  26-03-2025 19:44 via theguardian.com
  Already one of the most impoverished towns in the UK, withdrawal of support has left many unsure how to copeUK politics live - latest updates“It’s not very helpful really,” says Owen Sandford, 27, of the government’s spring statement. “I understand they’ve got a tough job, but we’ve got a tougher job trying to survive.”Sandford is in receipt of universal credit and has been applying for work – but he is struggling. Continue reading...
  
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• ‘I could end up homeless’: weighing the damage after Rachel Reeves’s welfare cuts

  26-03-2025 19:27 via theguardian.com
  A disabled man considers the potential impact that losing disability benefits could have on his lifeUK politics live - latest updatesIt’s just hours since the chancellor, Rachel Reeves, delivered her spring statement, which slashed disability benefits. Lee, a 43-year-old man with autism, is weighing the damage.“I stand to lose so much,” he said. “If all these cuts happen, I could end up homeless. I’m going to lose my independence, I’m going to lose basically e
  
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• ‘I could end up homeless’: weighing the damage after Rachel Reeves’ welfare cuts

  26-03-2025 19:27 via theguardian.com
  A disabled man considers the potential impact that losing disability benefits could have on his lifeUK politics live - latest updatesIt’s just hours since the chancellor, Rachel Reeves, delivered her spring statement, which slashed disability benefits. Lee, a 43-year-old man with autism, is weighing the damage.“I stand to lose so much,” he said. “If all these cuts happen, I could end up homeless. I’m going to lose my independence, I’m going to lose basically e
  
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• Reform of cash Isas is still on the agenda. Quite right, too | Nils Pratley

  26-03-2025 18:09 via theguardian.com
  
  Cap on cash within £20,000-a-year personal allowance to encourage investment in equities could send billions flowing to UK stock marketHands off our cash Isas! Don’t punish savers for choosing safety! Don’t force everyone into stocks and shares! Think of the havoc you’ll cause for first-time buyers if you deprive banks and building societies of their stickiest source of deposits! Don’t fall for the self-interested lobbying of City fund managers!The cries were loud a
  
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• Rachel Reeves does reasonable job of justifying fiscal prudence but welfare cuts cast shadow

  26-03-2025 17:55 via theguardian.com
  Chancellor was able to point to glimmers of hope in spring statement despite economic growth forecasts being slashedUK politics live - latest updatesThe bruising row over welfare cuts in the run-up to Rachel Reeves’s spring statement led to the Treasury being portrayed as a gang of bullies with spreadsheets, ranging across Whitehall.Her moment in the spotlight on Wednesday allowed the chancellor to set these wrangles over tax and spend in a wider context: as a precondition for rebuilding t
  
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• Odds of Bank of England interest rate cut strengthen as inflation falls to 2.8%

  26-03-2025 16:44 via theguardian.com
  
  Bigger-than-forecast decline in annual rate in February is positive news for Rachel ReevesThe odds of the Bank of England cutting interest rates in May have been strengthened after inflation cooled by more than forecast last month.In a boost for Rachel Reeves on the day of her spring statement, the Office for National Statistics (ONS) said inflation as measured by the consumer prices index eased to 2.8% in February from 3% in January. Continue reading...
  
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• Share your experience of being a Tesla car owner

  26-03-2025 12:56 via theguardian.com
  
  We’d like to hear from people who drive Tesla cars and how they feel about themTesla sales have dropped by nearly 45% in Europe, according to data compiled by the research platform Jato Dynamics.The Texas-based electric carmaker, whose CEO is Elon Musk, sold less than 16,000 vehicles across Europe last month, down 44% on average across 25 countries in the EU, the UK, Norway and Switzerland. Continue reading...
  
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• I tried to sell my car but was told it had been written off

  26-03-2025 08:00 via theguardian.com
  
  What looks like an example of cloning is explained by a typo in an insurer’s claims reference number Last summer I took my old Kia to a branch of the car broker webuyanycar to sell, only to discover that its database showed a car with my registration number had been “written off” and an insurance claim paid out.This came as a shock. I have not been in an accident nor made any claims. I called up my insurer, which confirmed there was nothing on its records, and it told me to cal
  
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