Financial news

• No 10 rethinking winter fuel payment cut after Labour slump in local elections

  05-05-2025 20:17 via theguardian.com
  Exclusive: government fears further electoral losses from unpopular policy as well as from planned £5bn of benefits cutsDowning Street is rethinking its controversial winter fuel payment cut amid growing anxiety at the top of government that the policy could wreak serious electoral damage, the Guardian has been told.Keir Starmer’s senior team has been discussing for several weeks how to handle public anger over the policy, which bubbled over in last Thursday’s local elections,
  
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• The Guardian view on paternity leave: campaigners are right to demand more | Editorial

  05-05-2025 19:01 via theguardian.com
  Too many fathers are forced to miss out on precious early days with their newborns because support is too lowOnly about three in five fathers take paternity leave, despite clear benefits for families and society. Campaigners are right to stress this, as they push for new entitlements to be added to the employment rights bill.Time off helps dads and co-parents bond with newborns and builds habits that last. Mothers are more supported and less alone as they recover from childbirth and ad
  
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• Bank of England poised to cut rates as fears grow over impact of Trump tariffs

  05-05-2025 13:00 via theguardian.com
  Markets suggest quarter-point reduction to 4.25% is almost certain but some economists say Bank must go furtherThe Bank of England is poised to cut interest rates on Thursday amid growing concerns over the hit to UK jobs and growth from Donald Trump’s increasingly erratic global trade war.In the Bank’s first intervention since the US president’s “liberation day” tariff policy announcement sent shock waves through the world economy, Threadneedle Street is expected to
  
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• Sainsbury’s tea to return to Fairtrade label after dropping it in 2017

  05-05-2025 12:44 via theguardian.com
  ‘Tipping point’ as supermarket’s move will increase amount of Fairtrade tea sold in UK by almost 50%Sainsbury’s has drawn a line under a previous controversial attempt to create its own ethical label by agreeing a major tea deal with the Fairtrade Foundation.As a result of the move, all classic teabags in the “by Sainsbury’s” range will move to Fairtrade, with Kerrina Thorogood, the foundation’s director of partnerships, describing the move as a &l
  
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• Britons flying to Scandinavia with older passports risk being denied boarding

  05-05-2025 10:00 via theguardian.com
  ‘Inconsistent application’ of Schengen rules on passport validity has seen people turned back at border by airlinesSome Britons flying to Scandinavia this summer risk being turned away at the gate if they are travelling on an older passport due to the “inconsistent” application of Schengen travel rules, it has emerged.The Guardian was contacted by a British artist who was denied boarding by the airline Norwegian because her passport was issued “more than nine years
  
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• HMRC under fire for taking more than four months to process tax refunds

  05-05-2025 09:00 via theguardian.com
  Reported delays come as tax office says it is shutting free-to-use online filing service used by some small businesses HM Revenue and Customs has come under fire for taking more than four months to process tax refunds owed to some individuals and businesses that accountants say used to take a maximum of a few weeks.The reported delays coincide with anger over a separate HMRC announcement that it is shutting a free-to-use online filing service used by some small businesses. Continue reading...
  
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• HMRC demand letters for people with £3,500 or more in savings account

  05-05-2025 08:00 via express.co.uk
  
  HMRC could send you a tax bill letter if you have £3,500 in your savings account.
  
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• DWP Child Benefit alert as ex-DWP employee urges all parents to claim

  05-05-2025 08:00 via express.co.uk
  
  Sandra Wrench has 42 years' experience dealing with State Pensions and benefits and has explained the reasons why all parents should claim Child Benefit
  
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• Millions saving 'too little' pension to retire - experts say some have just £3,650 a year

  05-05-2025 07:00 via express.co.uk
  
  Nearly nine million people are underprepared for retirement after saving insufficient in private pensions
  
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• Lloyds and Halifax to close 14 bank branches in June - full list

  05-05-2025 06:00 via express.co.uk
  
  Lloyds Banking Group is set to close at least 254 branches in 2025 and 2026.
  
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• DWP PIP form that can be received before major 2026 reforms

  05-05-2025 06:00 via express.co.uk
  
  The DWP has announced huge changes to the Personal Independence Payment system, which will affect all claimants in the UK
  
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• Cash ISA stampede as savers flocked to beat rumoured tax changes

  05-05-2025 03:30 via express.co.uk
  
  The dash for ISAs was fuelled by speculation ahead of the Spring Statement
  
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• Millions of pension savers get huge boost with 'revolutionary' £300m project

  05-05-2025 03:00 via express.co.uk
  
  One of Britain's largest pension firms has become the first to connect its systems to the pensions dashboard project.
  
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• DWP benefits you can no longer claim after reaching State Pension age

  05-05-2025 02:00 via express.co.uk
  
  Upon reaching the State Pension age, individuals face several changes regarding their eligibility for benefits
  
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