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Overdraft charges are elephant in the room, say MPs

Overdraft charges are “the elephant in the room” as not enough has been done to tackle subsequent debt problems, a committee of MPs has said. Bank overdrafts were the major source of high-cost borrowing for millions of people, the All Party Parliamentary Group on Alternative Lending concluded. The costs can exceed those of payday loans, […]

Ford forecasts 1,160 Bridgend job cuts

Media captionEconomy Secretary Ken Skates said the UK government should engage more meaningfully with Ford Ford is projecting a reduction of 1,160 workers at its Bridgend base by 2021, according to a leaked document from the company seen by BBC Wales. Mass meetings are being held at the engine plant on Wednesday afternoon. The projection, […]

Jump in death fees for large estates

Jump in death fees for large estates

Image copyright PA Large rises in fees payable after death that will affect millions of people in England and Wales have been confirmed by the government. The Ministry of Justice will raise probate fees in May to as much as £20,000 for those with the biggest estates. At the moment such fees are fixed at […]

Mitie sells home healthcare business for £2

Mitie sells home healthcare business for £2

Image copyright Science Photo Library Image caption Mitie is exiting the home healthcare market Outsourcing firm Mitie, which has issued three profit warnings in the past year, is selling its home healthcare business for just £2. The buyer is private equity firm Apposite Capital, which will also receive £9.45m from Mitie to fund the business’s […]

Insurance premiums ‘set to soar’ after compensation changes

Insurance premiums ‘set to soar’ after compensation changes

Image copyright Getty Images Average car insurance premiums could increase by up to £75 a year as a result of a government ruling, industry experts have said. A new formula for calculating compensation payments for those who suffer long-term injuries has been announced by the Ministry of Justice. But the Association of British Insurers (ABI) […]

Free range eggs temporarily lose status after bird flu measures

Free range eggs temporarily lose status after bird flu measures

Millions of UK eggs will temporarily lose their free range status after hens were forced to spend weeks inside barns as part of emergency bird flu measures. Since December, poultry has had to be kept indoors under government orders to prevent the spread of the disease. Under European Union rules, if birds have been housed […]

UK ‘must insulate 25 million homes’

UK ‘must insulate 25 million homes’

Image copyright PA Image caption The UK needs a radical overhaul of existing housing stock if it is to meet emissions targets More than one home every minute will need to be refurbished in the UK between now and 2050, experts say. A report to Parliament says 25 million existing homes will not meet the […]

Tesco to replace 1,700 managers with lower-paid staff

Tesco to replace 1,700 managers with lower-paid staff

Image copyright Getty Images Tesco plans to replace 1,700 deputy managers in its chain of Express convenience stores. Their work will be taken by an extra 3,200 lower paid “shift leaders”, increasing staff numbers by 1,500. The retailer said the deputy managers would be offered the new roles, be redeployed or redundancy payments. Tesco announced […]

HMRC criticised over film industry tax avoidance probes

HMRC criticised over film industry tax avoidance probes

Image copyright Thinkstock HMRC has rejected criticism by Andrew Tyrie, chairman of the Treasury select committee, over its response to the exploitation of tax breaks for the film industry. The Tory MP has written to Chancellor Philip Hammond, to express a “number of concerns”. The tax office has cracked down on a number of schemes […]

HMRC rejects tax avoidance criticism

HMRC rejects tax avoidance criticism

Image copyright PA HMRC has rejected criticism by Andrew Tyrie, chairman of the Treasury select committee, over its response to the exploitation of tax breaks for the film industry. The MP has written to Philip Hammond, the Chancellor, to express a “number of concerns”. The tax office has cracked down on a number of schemes […]