Is the state pension ‘triple lock’ about to be AXED? Treasury considers suspending policy amid fears payments could rise 20% next year due to furlough distorting wage figures Triple-lock links pensions increases to highest of inflation, earnings or 2.5% But wages have been affected by furlough and experts predict a 2021 surge Move would prove highly contentious … Read more
One million self-employed sign up to government furlough scheme in two days, Treasury figures show As many as 440,000 signed up on Wednesday and a further 500,000 today Takes total number of Britons on furlough schemes to 8.5million and rising Government launched self-employed scheme two weeks ahead of planned date By Luke Andrews For Mailonline … Read more
Treasury throws a lifeline to savers facing financial difficulties due to Covid-19 by reducing exit fees By Sylvia Morris For The Daily Mail Published: 22:01 BST, 5 May 2020 | Updated: 23:35 BST, 5 May 2020 Savers facing financial difficulties due to Covid-19 have been thrown a lifeline. In a welcome move, HM Treasury has … Read more
Victory! Treasury will now allow aspiring first-time buyers dented by lockdown to tap into Lifetime Isas without penalty – just days after we raised concerns On Tuesday, we reported young savers would be penalised The DWP expects people to use Lifetime Isa cash before they can get benefits But the Treasury did not adjust the … Read more
The Treasury is finally set to extend its package of coronavirus rescue loans today, which will come as a relief for hundreds of businesses that had fallen through the cracks. Firms which make more than £45m were denied access to the Coronavirus Business Interruption Loan Scheme (CBILS) launched last month. Help was on offer to … Read more
Half of UK businesses have furloughed nearly ALL their staff after take-up of government scheme was three times more than expected and could cost £40bn Nearly 20% of small businesses plan to furlough all of their staff Treasury estimates originally thought 10% of firms would adopt the scheme But new figures from the BBC show … Read more
If you’re trying to move house and are unsure how the Government’s announcement will affect you, removal quote provider Reallymoving has put together the following advice: Securing a mortgage · Be prepared to provide evidence of job security, something banks will be checking even more closely than usual. · With surveyors currently unable to carry … Read more
BREAKING NEWS: U.S. coronavirus lockdown is set to last 10-12 weeks, Treasury Secretary Steven Mnuchin says Treasury Secretary Steven Mnuchin shared details on Fox News Sunday He said he hopes Congress will vote on the bill on Monday Nearly one in four Americans, or 80 million, were under orders to close up shop and stay … Read more
Treasury Secretary Steven Mnuchin said Tuesday the spread of coronavirus ‘is worse than 9/11’ for the airline industry. United, Delta and Virgin have already drastically slashed their flight schedule, taking other cost-cutting measures, and storing their large aircraft which will be out of use. The airlines have also requested a bailout package from the government, ranging … Read more
Crackdown on tax avoidance and evasion to raise billions for Treasury coffers By Daily Mail City & Finance Reporter Published: 21:50 GMT, 11 March 2020 | Updated: 22:28 GMT, 11 March 2020 The Government said that new measures will recover £4.7bn in tax in tax by 2024/25 that would otherwise have been lost A crackdown on … Read more