UK motor insurance premiums increase yet again
The AA insurance has today commented upon the state of the UK motor insurance market with a suggestion that the average comprehensive motor insurance policy is now costing in excess of £1000 a year. This is an increase of around 20% on the 2008 figure and is predominantly because of fraudulent claims and the damage caused by uninsured drivers in the UK.
All in all it is believed that UK motorists will face an additional £2.1 billion in insurance costs this year alone purely and simply because of these fraudulent claims and uninsured drivers. Despite the fact that the recession is still impacting upon many people around the UK, and indeed some people are considering downgrading or even cancelling their car insurance, the cost of insuring your vehicle continues to climb higher and higher.
In what is certain to become something of a vicious circle, a 20% increase in motor insurance premiums will almost certainly see more people taking the risk of driving uninsured which will yet again feed into the cost of insurance premiums in the future. Quite why perfectly legal and insured drivers have to pick up the bill for those who have decided not to take out insurance, which is illegal, continues to remain a mystery to many in the UK.
UK government overcharged Northern Rock by £445 million
It has been revealed that the UK government overcharged Northern Rock by a massive £445 million on the interest charged against the taxpayer loan to the company. The revelation that the UK government charged a "premium" interest rate on the loan has shocked many in the city and while there had been hopes of a repayment of around £150 million to Northern Rock, the true figure has now been reveale...Read More
Morrisons announces best Christmas in the food sector
While Morrisons has often been the butt of many jokes in the food sector with the likes of Asda, Tesco and Sainsbury racing away it would appear this trend has most certainly reversed over recent months. The company announced a like for like sales increase of 8.2% in the six weeks covering the Christmas period which was towards the top end of analysts expectations of between 7% and 8.5%.
SNP MEP demands European Commission block takeover of HBOS
Just when you thought the Lloyds TSB and HBOS merger was coming to a conclusion it has been announced that a member of the Scottish parliament has appealed to the European Commission to block the merger of the two companies. The grounds for the request relate to the fact the government appear, in your eyes of many, to have instigated unlevel level playing fields for Lloyds TSB and possible other p...Read More
How do you know that you are paying the correct income tax?
Today's revelation that hundreds of thousands of workers in the UK have received incorrect tax codes for the 2010/11 tax year will have shocked many people. The vast majority of us automatically assume that the information which the revenue sends to our employers and ourselves is correct and does not need to be reviewed or checked. However, how can you be so sure this is the case? While there h...Read More
D2 Jeans announces move into administration
Today saw the first post-Christmas casualty in the UK retail sector when D2 Jeans, the company set up by Sir Tom Hunter, announced a collapse into administration. The company was acquired by a management team back in January 2008 although there have been concerns for some time about the company's rental arrangements which were considered to be relatively high and were causing financial difficultie...Read More