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."
Scottish takeover of HBOS falls by the wayside
The two Scottish entrepreneurs who had openly discussed a possible takeover of HBOS have now formally conceded defeat. While the criticism of the way in which the offer was announced by the government continues, there is also concern that the government stepped in at the last minute to suggest that the rescue package already agreed with the bank would be renegotiated if a new party entered the sce...Read More
UK government announces £1 billion house building programme
The UK government has today announced plans for a £1 billion fund to kick-start the many property developments up and down the UK which stalled as the recession took hold. The idea is that up to 20,000 new jobs could be created and around 23,000 new homes introduced to the market. While around 20% of the £1 billion fund available will be dished out in the form of non-repayable grants, the vast m...Read More
Stephen Hester cannot see the green shoots of recovery
The chief executive of government controlled Royal Bank of Scotland, Stephen Hester, has today shot down hopes of a quick turnaround in the UK recovery. Amid suggestions that he did not believe the green shoots of recovery have appeared yet he was unable to give a definitive forecast as to when the Royal Bank of Scotland will return to profitability, instead choosing to suggest that 2009 2010 will...Read More
Is Gordon Brown really the champion of the middle classes?
Gordon Brown has today reiterated his stance regarding the middle classes of the UK despite only days ago ridiculing David Cameron because of his "privileged background". Indeed Gordon Brown has spoken in detail about his own "privileged background" with many suggesting he is trying to align himself with those in middle England, who effectively won the election for the Labour Party last time. T...Read More
Hedge funds deny blame for banking sector collapse
Hedge funds across the world have today denied being instrumental in the recent collapse of the UK banking sector. There have been rumours and counter rumours of substantial profits from "short selling" which many believe has piled yet more pressure on the sector. However, the hedge funds deny they are to blame instead suggesting that the banking sector has been slow to come forward and clarify ce...Read More