Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
Public support needed to tackle 'housing crisis'
Public support is essential if house builders are to play their part in resolving the UK's housing crisis, the industry has warned.With demand in desirable parts of the country continuing to outstrip supply, the country needs more houses.But the Home Builders Federation (HBF) has said local communities are often unwilling to have new developments on their doorsteps."We need to build more homes con...Read More
Northern Rock cuts 0.5% from standard variable rate mortgages
The Northern Rock is tonight under serious pressure after the revelation of a 0.5% cut in the standard variable rate mortgage package offered by the company. Northern Rock is under government control, having been saved via taxpayers funding, but recent results show the group is the most aggressive in the market place when it comes to repossessions and passing on cost savings. The 0.5% cut in the g...Read More
Who is next under the UK tax microscope?
Over the last few weeks we have seen a number of potential new taxes discussed in political circles which include a tax on homes with a value of £1 million and over, a telephone line tax, car park tax and yet more taxation with regards to the environment. Slowly but surely the UK government is casting its net very wide to try and bring in as much new tax income as possible by introducing indirect...Read More
5m Expected To Join Social Housing List
As the credit crunch continues to impact upon a range of areas of the UK economy it seems that the demand for social housing is set to mushroom over the next five year. The Local Government Association believe that the current problems in the UK property market will see the social housing waiting list pushed up to 5 million causing a massive strain on local authority budgets. While the above s...Read More
Currency exchange company goes under
Crown Currency Exchange, one of many currency exchange businesses in the UK, has today been placed in administration with 13,000 customers potentially on the verge of losing their money. Over the last few days there have been problems with the company's website and orders would appear to have stalled but only today did we learn that apparently the company is insolvent and administrators have been...Read More