'DIY' holidaymakers risk travel cover
Around eight million UK tourists risk being stranded during the summer because they are not covered by Air Travel Organisers' Licensing (Atol) travel protection.Most traditional travel agents automatically cover holidaymakers with Atol protection, which should ensure that tourists are escorted home and reimbursed should their agent cease trading.'DIY' tailored holidays from independent agents do not always offer this scheme, yet 39 per cent of holidaymakers booked this kind of holiday last year where a decade ago 97 per cent of holidays were booked through conventional agents.David Clover, spokesman for Atol, said on Channel 4's News at Noon that he was concerned that a new survey by the Civil Aviation Authority showed that a third of holidaymakers mistakenly believe they are covered by the Atol scheme when booking independently.Mr Clover said: "Atol provides full financial protection if anything goes wrong with the travel company, that means they'll get their full refund or be repatriated back to the UK if the tour operator goes bust.He warned of the importance of making sure you have adequate travel insurance, saying: "If you do a DIY holiday then there are real risks people will be stranded abroad or will lose out financially."
UK pension squeeze is on the way
A report by AXA has confirmed that the UK pension industry, despite having a difficult decade, is set for further trouble in the future. It would appear that more than three in five UK citizens are looking to rely upon the state pension as their main source of income in retirement, as the private pension sector continues to decline and more and more workers are withdrawing from pension schemes. So...Read More
UK government is looking at £20 billion of loan guarantees
As Gordon Brown digs deeper and deeper to try and refloat the UK economy it has been revealed that this Wednesday should see a £20 billion small business loan guarantee system announced to the public. There have been a number of hints by the government over the last few weeks regarding such a scheme although the Conservative party believe that a figure of up to £50 billion is more useful in the...Read More
Bradford and Bingley Shares Plummet In Early Trading
Yesterdays announcement of a deal with US based investment house Texas Pacific, and a warning that profits for the first 4 months of the year are just under half of the figure for the same period last year, saw Bradford and Bingley shares plummet in early trading. Such was the selling pressure on the shares they had to be suspended for a 9 minute period to restore order and allow the company to a...Read More
False boost to the UK property market revealed
It has been revealed that the number of first-time buyers in the UK hit a two year high last December amid the impending repeal of the stamp duty concession which gave buyers the chance to save up to £1,750 on a purchase. Lenders have revealed that nearly 25,000 mortgages were approved for first-time buyers in December 2009 which was 26% up on November. While these figures may be slightly boosted...Read More
Is it possible to control economic cycles?
While Gordon Brown once famously professed to ending the economic boom and bust cycle, he was later shown to be foolish in his assumption that economic cycles can be controlled to that particular degree. But is it possible to control economic cycles to any degree?
The truth is that economic cycles can in many ways be controlled to some degree but ultimately they are the brainchild o...