Devastating floods could cost insurance industry over £100 million
The devastating floods in Cumbria and South Scotland could cost the UK insurance industry in excess of £100 million although this figure could rise significantly because the flooding has yet to subside. We have literally seen homes washed away in the flood water, vehicles left battered on the road site and indeed we have seen the unfortunate sight of casualties and fatalities during the floods.
The UK government is now looking to put together an emergency package to ensure that those affected by the torrential rain in Cumbria and the South of Scotland are provided for as soon as possible. These particular rainfall numbers have been described as "biblical proportions" and events which are unlikely to be seen for the next thousand years. However, for those who have seen their livelihoods, their homes and their businesses washed down the river this will be little consolation in these most difficult of times.
No doubt we will also find out how many households in Cumbria and the South of Scotland were under insured which will no doubt result in the emergence of various battles for compensation. This only goes to show that home insurance is a vital element of any household budget and even though it may be tempting to reduce your insurance cover, or indeed suspend it in these difficult economic times, it is in many ways a false economy.
UK minister faces questions over tax affairs
Baroness Scotland, the attorney general, is this evening at the centre of mysterious questions regarding the taxation of her former housekeeper's salary. The situation regarding the former housekeeper has been in the press for some time, after it was revealed she was actually an overseas visitor to the UK who had overstayed her visa and was here illegally. Even though the situation seemed to have...Read More
Consumer confidence falls in April
In a bitter blow for the UK economy the GfK NOP Consumer Confidence Index dropped by one point in April to -16. This is a reflection of the regular survey carried out amongst UK consumers to find out about their confidence in both their personal financial situations and the UK economy as a whole. Even though the figure of -16 is a vast improvement on the -27 figure from April 2009, many experts ha...Read More
Will the council tax freeze hold in Scotland?
There are real concerns this evening that the Scottish government has lost the plot in relation to their proposed freezing of the Scottish council tax next year. While this is a continuation of the move which began last year, they are only promising the same £70 million finance package for councils to enable them to freeze the tax.
However, anybody who lives in the UK knows that...
Why Is There No Talk Of Tax Cuts?
As the economy lurches from a slow down into a full blown recession it would have been reasonable to expect talk of tax cuts and returning money to the UK population. However, tax cuts have never been further from the table with many even suggesting that the UK is braced for another round of tax increase. But does this make sense?
The truth is that the UK public purse is in such a...
Doorstep Lenders On The Prowl
As a follow up to an article we issued some time ago about doorstep lenders it seems as though business is very brisk in this area and growing strongly. For those not aware of the so called doorstep loan companies, these are financial companies which may cold call you offering loans - often to people who may have credit difficulties and live in run down areas - at rates well in advance of the hi...Read More