From the 1st of October 2011 the National Minimum Wage in the UK is set to increase modestly.  The changes, are due to effect all bands, and will increase as follows: The adult (aged 21 and over) minimum wage rate will increase from £5.93 to £6.08 an hour The Youth Development Rate (18-20 year olds) will rise from £4.92 to £4.98 an hour The minimum wage for 16-17 year olds will increase from... 

British banks today lost a High Court ruling when the Judge declared that the banks must look retrospectively into how they sold Payment Protection Insurance on loans, credit cards and mortgages.  The ruling, which could potentially cost the banking sector up to £4.5 Billion pounds as a result.  Naturally the banking sector is reeling from the ruling, with the British Bankers Association saying ... 

On the 6th of April, major changes to the tax and benefits system came into force first introduced during the Emergecy Budget after the General Election in May last year. The Changes will impact every home in the land, as austerity measures and cuts come into effect and services provided by local, central government and the devolved Assembly’s will be scalled back.  The results could possibly... 

Tomorrow is Budget Day.  And what George Osbourne, the Chancellor of the Exchequer, says will effect everyone in the country. What is the Budget? The treasury describes the budgest as “..the major financial and economic statement made each year by the Chancellor of the Exchequer to Parliament and the Nation. Since 1998, the Chancellor has presented the Budget in the Spring. The role of the... 

During the bleak days of the Second World war women have been doing men’s work on the “Home Front”. They proved their worth time and time again.  They could both manage a home and a job within society, and keep Britain going while their husbands and boyfriends were fighting the war.  As the men returned home, they once again adopted the traditional role of looking after hearth and... 

Figures released by the British Retail Consortium show that  food prices around the world have risen sharply this month, sparking concerns that we are at the beginning of an inflationary trend in the cost of food. The largest increases in the UK in 2010 have been in processed food, the cost of which has jumped by six per cent. Fresh food has risen by a smaller rate of 3.5 per cent. Overall shop price... 

Mervyn King, the Governor of the Bank of England, insisted prices are being driven higher by “temporary” forces as the official inflation rate surged to double the target, increasing pressure to raise interest rates. UK inflation jumps to 4pc, double the target. He repeated his warning tha the consumer prices index (CPI), could hit 5pc “over the next few months”, after figures... 

From Tuesday the 1st of February, changes in Consumer credit legislation come into force, giving consumers greater rights when obtaining credit. So what are the new consumer credit directive regulations, and How will the impact you? The new Consumer Credit Directive legislation (CCD) aims to guarantee high levels of consumer protection and is aimed to join together Law, Regulation and Administrative... 

The latest figures released today by the Office of National Statistics show that the UK Economy has shrunk by 0.5 percent sparking fears that the UK could be heading for a double dip recession. The Government blamed the shock downturn on the winter weather that most of the country experienced in December. Chancellor, George Osbourne today said “We have had the coldest weather since records began... 

While the most recent figures indicate that the bankruptcy rate in the UK has dropped over the past few months, these same figures show that there were more the 33,000 personal insolvency claims in the previous quarter.  This is almost 4% fewer filings than there wee in the same quarter last year.  These insolvency figures include all Debt Relief Order, Individual voluntary arrangements, and all... 

The Financial Services Authority (FSA) has confirmed that the new deposit compensation limit for the United Kingdom will increase from £50,000 to £85,000 per person, per authorised firm, from 31 December 2010. This is the Sterling equivalent of the €100,000 deposit compensation limit which comes into force in all European Economic Area (EEA) member states at the end of the year.[ad#Google... 

George Osborne has now confirmed that the VAT increase to 20% will not be reversed, he insisting it was a ‘structural’ change to the tax system. VAT goes up on January 4. The rise, which will cost the average middle-class family up to £448 a year, was announced in June’s emergency Budget.[ad] // However in an interview with the Spectator magazine, Mr. Osborne dismissed the idea that VAT, which...