£6bn lost on cancelled holidays
With a recent study revealing that over £6 billion was lost last year through people cancelling holidays they have already booked, Britons have been reminded of the importance of taking out a comprehensive travel insurance policy.According to the insurer More Than, who released the findings, while many people book their holidays well in advance, many fail to take out insurance and therefore leave themselves vulnerable to losing money spent on booked travel and accommodation should their plans change.Of all the claims made through More Than's travel insurance service last year, 26 per cent were for the cancellation of holidays, with an average cost of £856.Commenting on the findings, the company's head of travel insurance, Keira Clark, said: "It's encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don't realise that by purchasing their policies late, they miss out on valuable cancellation cover."The comments come soon after British holidaymakers were advised to make sure their building insurance is up-to-date before going away, in the event of leaking pipes and water damage.
Is your overdraft at risk of being called in?
While the vast majority of the UK population are likely to have an overdraft facility which is possibly in use at the moment, there are concerns that UK banks are looking to reduce their exposure to risk yet further. We have seen similar action in the credit card industry, with some customers having their credit limits reduced and a portion of their debt requested via the "payment upon demand" sma...Read More
George Osborne believes the UK is on the road to ruin
George Osborne has stepped forward today to suggest that the UK economy is on the road to ruin without significant spending cuts in the short to medium term. This comes just days before his first budget, which many believe will be the most important budget in recent UK history, and amid signs of voter and MP unrest in relation to some of the proposals mentioned. So is George Osborne right to be so...Read More
House of Commons committee to investigate takeover of Cadbury
A committee of MPs will this month make plans to investigate the controversial takeover of Cadbury by US giant Kraft foods. At the heart of the issue is the apparent indication that jobs would be safe in the short to medium term and then the immediate U-turn which saw the announcement of a planned closure of Cadbury's Bristol plant next year. This will result in the loss of 400 jobs although few f...Read More
Who leaked today's inflation data?
Yesterday the financial markets were full of details regarding today's inflation data with "expectations" that the figure would be announced at 3.1%. Hey presto, this morning we have the announcement of the consumer price index which was indeed 3.1% for July. So who leaked the UK inflation data early? In this day and age it is nigh on impossible to backtrack and find out how the data was leaked...Read More
Is risk bad for the economy?
Over the last few years we have seen many reviews of risk in the UK financial arena and the impact this can have upon the UK economy. In many ways you could be forgiven for assuming that all risk is bad and by reducing the level of risk in the UK we will in some way ensure a better standard of living and a more stable financial arena. But is this really correct? The truth is that without risk t...Read More