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UK Economy News

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Pound Falls Amid Scottish Independence Poll

The British pound fell to its lowest level for 10 months, after a poll revealed a narrow support for Scottish independence. The Scottish public are set to be asked the question “Should Scotland be an independent country?” on Thursday 18th October, in a referendum that could see the Scotland leave Great Britain.

49% Of Britons Think Interest Rates Will Go Up

Nearly half of Britons think that the Bank of England will raise the interest rates over the next 12 months.A poll have shown that 49% of people think interest rates will rise from the current record low rate, the highest number of people in 3 years. This would affect mortgage, credit card and loan rates for everyday consumers.

OneStop Shoppers To Receive Offers Via App

Customers will now be able to receive offers directly to their smartphones as soon as they walk into a OneStop shop. These will be personalised based on customers internet shopping history and can be redeemed at the till or shared on Facebook

UK Economy Stronger Than Previously Thought

The UK economy has grown stronger over the past few years than was previously thought, according to new figures from The Office for National Statistics. The new figures are due to a change in the way The Office for National Statistics (ONS) calculate the size of Britain's economy

€RDR Advice Gap’ Still Widening

Mr Heath is currently completing a report, known as the Heath Report, which is analysing changes within the advice industry since the implementation of the RDR in January 2013. What is clear already, according to Mr Heath, is that a number of advisers have already left the industry. As well as

Interest Rates Will Not Increase In 2014 € Bank Of England

The Bank of England has confirmed that interest rates will remain at the benchmark low of 0.5% for the remainder of 2014. There has been speculation in recent months that interest rate rises would be enforced as the economy continues to recover, however a fall in inflation has eased any pressure on the Bank to increase their rates in the near future.

UK Economic Growth Figures Better Than Expected

The UK economy performed better than expected in the second quarter of 2014, as it expanded by 3.2% in comparison with the same period last year. It was originally estimated that the economy would only grow by 3.1%, but figures released by the Office for National Statistics (ONS) confirmed that the UK economy had its best year since its 2008 peak.

IPPR Warns Government Over Youth Unemployment

The youth unemployment problem in the UK will not be solved by an economic recovery, the Institute for Public Policy (IPPR) has warned in a report. The report said that although youth unemployment has been falling steadily, there are still around 868,000 unemployed 16 to 24 year-olds in the UK. The IPPR said that one of the biggest problems is a ‘mismatch’ between what these youths are being trained to do and what jobs are actually available.

Fears Raised As Personal Insolvencies Jumps

Personal insolvencies have increased at the quickest rate since 2010, according to government figures. The figures showed that 27,029 people in England and Wales became insolvent between April and June 2014, which is a 5.1% increase on the same period 12 months ago.

Young Fraudsters On The Rise

The cost of fraud committed by people aged 26-35 increased by 285% during the first half of 2014, according to a report by accountancy company KPMG. Fraudsters in this age group conned their victims out of £62m in the six months to July 2014, meaning there could be a shift in who the stereotypical con artist is.

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