£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.
Bank Of England suggests recession will be worst for decades
Sir John Gieve has been speaking in Manchester during the last few days regarding the UK economy and the immediate outlook for the country. He has given the strongest indication yet that UK interest rates will fall yet further amid speculation that 0% could well be attained in the short to medium term. On a more negative note Sir John is suggesting that as well as this recession becoming one of th...Read More
UK car manufacturers barred from direct Bank of England funding
It has been revealed that regulations currently in place are preventing the UK car industry from obtaining funding direct from the Bank of England. This little-known regulation could well scupper the eventual recovery of the sector even though the government announced a separate £2.3 billion package yesterday. As Toyota joined the list of car manufacturers in the UK looking to reduce their cost b...Read More
Are People Skipping Home Insurance To Save Money?
As the economy grinds to a halt there are worrying signs that many homeowners across the UK are cutting back on their house insurance or cancelling their cover outright. More and more people are being pushed onto the poverty line and concerned how they are going to pay for the more basic items such as food and energy. Home insurance seems to be coming further and further down the list even thou...Read More
Should you employ an accountant for your self-employed tax return?
As we covered in two of our earlier articles, the UK government is currently undergoing a major crackdown on the self-employed in the UK and any taxation which may be due and has possibly not been declared. The growth in the power and the use of the Internet in the UK and around the world has led to a significant increase in those who are self-employed, often working from home, which has led to so...Read More
Beating credit card debt
As UK credit card debt continues to spiral higher with more and more people in the UK unable to cover their interest and capital repayments there are concerns that the situation is running out of control. The fact that UK credit card companies have recently increased interest rates has also added to the substantial problems which many people are suffering. So how can you reduce your credit card de...Read More