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Finance

Supermarket offering interest-free loans of up to £100 on food bills – how to claim

Simon Dukes, the CEO of Fair for You, shared why the loan scheme will be important for households across the country. Mr Dukes explained: “Nobody should have to go hungry in order to feed their kids, or be forced into making impossible decisions between putting food on the table or having hot water. “Our mission […]

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Finance

Universal Credit payments could be ‘wiped out’ as energy bills rise to £595 a month

Research carried out by Citizens Advice Scotland found that prepayment meter customers are at risk of seeing the entirety of their Universal Credit claim spent on energy costs. In Scotland alone, around 470,000 households are customers who pay their energy bills in advance which is usually more expensive than those who pay via direct debit. […]

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Finance

State pension boost: 4 easy ways you may be able to increase amount you get in retirement

“Others missed out when they opted out of Child Benefit after the introduction of the high-income Child Benefit tax charge. If you claim Child Benefit in your name, then you will get the NI credit towards your pension.” Specified Adult Childcare Credit On top of this, those approaching state pension age can apply for Specified […]

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Finance

PIP warning: Britons risk losing £628 a month if they don’t report changes to DWP

Personal Independence Payment (PIP) is a disability benefit payment administered by the Department for Work and Pensions (DWP). It is designed to help those with a long-term disability or health issue with the extra financial costs that arise from having their condition. While recipients of PIP are able to get up to £628 support a […]

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Finance

Half a million pensioners ‘face poverty and financial hardship’ after state pension frozen

John Duffy, the chair of the International Consortium of British Pensioners, praised the Government’s commitment to supporting UK residents but criticised its exclusion of those living outside the country. Mr Duffy explained: “Although we welcome the rise in UK pensions, we are hugely disappointed that the UK Government is continuing to treat British citizens living […]

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Finance

UK on the brink of ‘much deeper recession’ if interest rates continue to rise

“In that sense, they simply cannot move too far on rates or they will lock in a much deeper recession.” Mortgage holders and those in debt are likely to be among the many that will be worse by conditions where rate rises. Despite many banks and building societies passing down the Bank of England’s rate […]

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Finance

UK inflation to hit 18% for low earners – ‘Bills going to be horrendously unaffordable!’

This comes following new research from the Institute for Fiscal Studies (IFS) which found that the poorest fifth of earners are currently dealing with inflation of 10.8 percent. In comparison, the same study from the IFS showed the richest fifth are only facing inflation-hikes on prices of 8.5 percent. Inflation is causing the prices on […]

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Finance

State pension rise ‘certainly justifiable!’ – payments could exceed £200 a week

“In cash terms, a 10 percent rise would take the [new] state pension (which applies to anyone who began claiming after 2016) from £185.15 to £203.66 per week. “It would also take the annual income from a full state pension to £10,590.32 – the first time the payment has been worth more than £10,000 a […]

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Finance

Households could save £1,000 on bills under new proposal for energy bills price cap freeze

This comes as the latest forecasts from Cornwall Insights estimate that the energy price cap will hit £4,266 in January 2023. This would mean the expected 80 percent energy bill rise in two months’ time would not happen, saving the average household £1,000 annually, according to the Labour leader. In response to this, the Labour […]

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Finance

Britons urged to ‘know how much credit’ they have with energy supplier as bills hit £4,200

“That means if you can’t pay, there’s a plan. That means that there is something like a safety net and a soft landing for all the millions of households that really struggled to pay their bills this winter. “On that note, I would encourage everyone to know and to establish how much credit, if any, […]