For the first time since the 1980s, more householders own their homes outright than the number of people who are purchasing with mortgages.
The two top HSBC bosses have rejected calls for them to quit over the bank’s Swiss tax scandal, but said they were cleaning up after a “terrible list” of control and compliance failings.
Aviva Investors, part of the UK’s biggest insurer, has paid out nearly £150m in fines and compensation for systems failures that prevented it managing conflicts of interest fairly.
With just six weeks to go before the launch of the radical reforms to the pensions industry announced by Chancellor George Osborne in last year’s budget, a new report accuses the Government of not doing enough to prepare for their delivery, saying that ‘key policy detail’ is still missing.
The Organisation for Economic Co-operation and Development (OECD) has urged Britain to continue with its austerity measures in order to remain one of the fastest growing economies in the developed world.
Help for firms is “poorly communicated and confusing”, MPs have warned.
Kristin Forbes, a member of the Bank of England’s Monetary Policy Committee (MPC), has claimed that if low interest rates continue they could threaten to slow growth of productivity and make it more difficult for the bank to quickly respond in a future crisis, should it ever be required to do so.
The second ‘Pitch 10’ start-up pitching event was held at 10 Downing Street last week, where representatives from new digital businesses from all over the UK pitched their ideas to policymakers and investors, hoping for financial backing and advice.
Registration for the new marriage allowance scheme has opened, which, according to Prime Minister David Cameron, could help with the cost of living and reduce a couple’s annual tax bill by up to £212.
High earners looking for tax-efficient investments, who have already saved the maximum Isa amount (£15,000) and reached the £40,000 tax-free annual pension allowance, have other options available that will not incur scrutiny from HM Revenue & Customs (HMRC).