BT increases cost of phone calls
Families and businesses around the UK are today looking at a 10% increase in the cost of telephone calls due to inflation busting price rises by BT. It has been revealed that the minimum cost of a standard call using the BT network will be 17.3p after taking into account connection charges and call rate increases. So why has BT decided to increase charges?
The company recently underwent a review of its pricing structure and has decided to increase charges to cover costs and put the company in better shape when it leaves the recession. While there are ways and means of reducing BT bills from today's inflation busting figures, via signing up for inclusive packages and paying one year's line rental up front, these are options not open to everybody.
The company has begun writing to its 12.5 million customers to explain why prices have risen and exactly what this means to their particular payment plans. Whether this will play into the hands of competing telecom provides in the UK remains to be seen but a 10% increase in charges at this stage of the economic cycle is not what consumers and businesses would have expected.
UK government to introduce supermarket ombudsman
The UK government has today confirmed plans to introduce a supermarket ombudsman to monitor the relationship between supermarkets and their supplies to ensure there is no abuse of power. For many years there has been constant criticism of the supermarket industry with claims that suppliers are being pressurised to produce goods at wafer thin margins and are effectively at the beck and call of the...Read More
Insolvencies slow while repossessions grow
The rise in personal insolvencies has slowed sharply in the second quarter of 2007, and now stands just 4.2 per cent higher than last year.Previous years have seen double-digit year-on-year growth in the number of personal insolvencies, but this year they fell 8.1 per cent on the quarter to 26,956, from all-time highs in the previous two quarters.This fall comes despite five interest rate hikes al...Read More
Energy regulator steps up pressure on energy companies
It has today been revealed that Ofgem, the regulator for the energy industry, is unhappy about the speed at which the UK energy providers are stripping out over £500 million of excess premiums, much of which are charged to those with prepayment meters. While progress is being made on the £500 million savings there are concerns that the energy companies are "dragging their feet" at a time when pr...Read More
DIY sector on the rise
In a sign of the times, B&Q parent company Kingfisher has today revealed profits which are nearly 40% higher compared to the six-month corresponding period last year. This is a major development in the DIY sector which has been one of the main casualties of the recession. So is the DIY market leading the UK property sector higher?
It would appear that while many people are still loc...
Is inflation dead?
The substantial fall in the rate of inflation has been welcomed across the board in the UK with investors and consumers now beginning to look to the future. However, those who believe that inflation has now been beaten and is dead may well need to review their opinions in the future. We have been in this situation before when the authorities have suggested that not only was inflation beaten but th...Read More