'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."
Norwich union cut bonuses
Norwich union has become the latest insurer in the UK to cut bonuses on its profits funds and lower final payouts. While the move was not unexpected after the recent French Provident announcement there is serious risk to many investors across the UK who had seen with profits funds as their saving schemes of the future. There are now serious concerns that too many people in the UK appear to have pl...Read More
Is this the end of the free market?
Many experts believe that the events of the last 18 months could herald the end of the free market in the UK finance sector. Never before has one sector been proven to be so instrumental in the direction of an economy as the UK financial sector over the last few months. No future government in UK can really afford to give one area of the UK economy so much power and we could see the end of the fre...Read More
HMRC looks to cut costs to the bone
Those who have been overcharged tax in the past will know how difficult and time-consuming it can be to retrieve your hard earned money. However, historically the UK government has paid interest on tax which was taken in error and repaid this together with capital when the figures had been agreed. Sadly for those who have been overcharged on their tax bills, the government from today will be payin...Read More
Business leaders demand revamp of UK gas storage system
After news that a number of UK companies had their gas supplies cut off over the last few days, business leaders in the UK have today called on the UK government to introduce an obligation on UK gas suppliers to store backup gas supplies in the UK. Despite the fact that we take our gas supply for-granted in the UK, the revelation that just eight days of backup supply are available onshore has shoc...Read More
George Osborne denies pact with Bank of England
George Osborne, the Chancellor of Exchequer, has today rubbished claims that the UK government has made some form of informal pact with the Bank of England with regards to the level of UK base rates. This comes only 24 hours after Mervyn King, the governor of the Bank of England, suggested that UK base rates could remain at 0.5% for some time to come. So is there some kind of informal agreement?...Read More