Financial matters

[SteveH]

20 ways you can save cash, from smart meters to loyalty cards
A third of residents still haven't found a way to save money despite nearly a half trying new methods,

UK residents have tried saving cash using various methods this year, with some taking showers at the gym and others reusing their tea bags, a poll has found. The research (polling 2,000 adults) revealed that 48 per cent of people had attempted to save money using a new method over the past 12 months.

And the money-savvy habits don't stop there, with residents opting for discount shopping, bulk buys and repairing their clothes instead of taking a trip to the shops. The poll found that 27 per cent had focused on their energy usage, with 51 per cent of people with smart meters saying the devices had helped them tackle their bills

cont https://www.inyourarea.co.uk/news/20-ways-you-can-save-cash-from-smart-meters-to-loyalty-cards/

[SteveH]

The NHS and council services like schools and transport will be spared when the Welsh government sets out plans to balance its books later.

Other Welsh government-funded services could face cuts in the announcement.

Inflation has been blamed for the unusual exercise, which has come in the middle of the financial year.

Welsh Tories have criticised spending on "vanity projects", while Plaid Cymru questioned how transparent the process has been.

The Welsh government said it was "under unprecedented pressure caused by the impact of inflation, more than a decade of austerity on public services, and the UK government's mismanagement of the economy".

Finance Minister Rebecca Evans will announce more detail in the Senedd on Tuesday afternoon.

A spokesperson said she would announced a "package of financial measures which protect Wales' public services, NHS and transport" - she has previously committed to protecting council budgets.

First Minister Mark Drakeford had asked his ministers to find savings during the summer, describing a shortfall of ?900m.

cont https://www.bbc.co.uk/news/uk-wales-politics-67089977

[SteveH]

Food prices saw their first monthly fall in two years in September, but fuel prices rose sharply, official figures show.

It came as the overall rate of inflation held steady at 6.7%, ending a run of three consecutive monthly falls.

The price of milk, cheese and eggs all decreased, easing the pressure at supermarket tills, the Office for National Statistics said.

But petrol increased by 5.1p per litre, hitting drivers at the pumps.

Analysts had expected the overall rate of inflation to fall slightly, and the ONS said there may be "some disappointment" about the unchanged figure.

cont https://www.bbc.co.uk/news/business-67142756

[SteveH]

Workers on voluntary Real Living Wage see 10% pay rise

Hundreds of thousands of UK workers will see a 10% pay rise from Tuesday, because their employer is signed up to the voluntary Real Living Wage scheme.

The rise - from ?10.90 to ?12 an hour outside London - would be a "lifeline" for low-paid workers, the Living Wage Foundation said.

Employers can choose to pay the real living wage, a rate that is higher than the government-set minimum wage.

But a business group warned there was "a limit" to what firms could afford.

cont https://www.bbc.co.uk/news/business-67194691

[SteveH]

The 23 medical conditions that will qualify you for ?518 monthly payments from DWP
People are being urged to check if they are eligible

The benefit is given to help with extra costs if you have a disability or health condition that affects how much you can work. You can apply for 'new-style' ESA if you are below state pension age and you have a disability or health condition that affects how much you can work but you also need to have both worked as an employee or been self-employed and paid enough National Insurance contributions ? normally in the last two to three years

cont https://www.dailypost.co.uk/news/north-wales-news/23-medical-conditions-qualify-you-27977461

[SteveH]

The temperature is dropping again, and many of us are reaching for our cosy jumpers and winter duvets while we try to put off switching on the heating.

Energy prices aren't quite as high as they have been but the cost of living crisis continues to bite and we are all keen to keep our household bills down.

So when is the best time to turn on your heating? And what else can you do to keep your home warm?

Here's what you need to know as we head into winter........ https://www.bbc.co.uk/news/business-67197871

[SteveH]

?129 higher bills warning for anybody who's a British Gas, EDF, OVO, Octopus, E.On, Shell customer
Prices in the electricity market are predicted to rise next year

Customers of British Gas, EDF, OVO, Octopus, E.On, Shell have been warned their bills could be higher next year. People are already struggling with the cost-of-living crisis, but electricity market prices are predicted to rise in 2024 and stay well above pre-energy crisis levels for the rest of the decade.

Analysts at Cornwall Insight predicted Britain?s wholesale power prices would rise from an average of ?96.64 per megawatt-hour so far this year to ?129/MWh next year due to higher gas prices.

Electricity prices were also forecast to stay elevated until the end of the decade, remaining at least 60% higher than they were in 2021.

cont https://www.dailypost.co.uk/news/north-wales-news/129-higher-bills-warning-anybody-27996324?IYA-reg=49560bcd-5a9c-47f0-8fc5-ba2e71710589

[Ian]

Wasn't the government thoughtful when they declared 'privatisation was the way forward for lower bills"?

[mull]

Well done----

All our electric supply on Mull is powered by Hydro. No gas involved at all. Water is still for free.

So why is my electric bill going up ?

[SteveH]

Flight fares will go up as air traffic control charges soar
Airlines have warned that passengers will 'bear the brunt' of the 43 per cent rise

Airlines have threatened to raise plane ticket prices after the UK's Civil Aviation Authority announced an increase in the fees that planes will pay to fund the country's air traffic control system. Despite a summer marred by widespread disruptions, the charge will see a ?17 increase, pushing it from ?47 to ?64 per plane for the period spanning 2023 to 2027.

This marks a 43 per cent rise, although accounting for inflation since 2020, it's a 26 per cent increase, according to the CAA. The average cost per passenger will climb by around 43p to approximately ?2.08 per passenger per flight.

cont https://www.inyourarea.co.uk/news/flight-fares-will-go-up-as-air-traffic-control-charges-soar/

[SteveH]

It's not something your friends are likely to be talking about down the pub but in the City there's something fund managers and investors are increasingly worried about.

Bond markets.

They are falling and have been for some time.

It is a flashing warning sign about the state of the UK and US economies and may affect the costs of our loans and mortgages.

So how worried should we be?.................... cont/stats https://www.bbc.co.uk/news/business-67262339


Warning one in 10 county councils face effective bankruptcy
In September Birmingham City Council was forced to slash spending after declaring itself effectively bankrupt.

More local authorities fear they could be next, according to a survey by the County Councils Network.

They are calling for emergency funding from the government to stave off financial collapse.

The government said it had already made ?5.1bn extra available to local authorities for 2022/23 - and was ready to talk to any council concerned about its financial position.

cont https://www.bbc.co.uk/news/uk-politics-67228883

[SteveH]

Interest rates are expected to be left unchanged as the Bank of England looks to balance the impact of higher rates on the UK economy.
Sluggish economic growth and signs that the country's job market is slowing down have led to predictions that rates will be held at 5.25%.

Rates had been hiked previously in a bid to slow the pace of price rises and are at the highest level for 15 years.
The Bank of England, which sets rates, will reveal its decision at midday.

Money markets say there is a 92% chance that rates will be held.

Higher interest rates mean that the cost of borrowing money for things like mortgages and other loans goes up. However, it also means higher returns on savings accounts.
cont https://www.bbc.co.uk/news/business-67286913


Shell posts $6.2bn profit as oil prices rise again
Oil and gas giant Shell has posted strong profits helped by oil prices rising again.

The energy giant reported earnings of $6.2bn (?5.1bn) between July and September, up sharply on the previous quarter.

Profits were down from $9.4bn in the same period last year, however, when Russia's invasion of Ukraine caused a spike in oil and gas prices.

Oil prices are currently lower than that period, but have risen recently.

That is largely due to members of the Opec+ group of oil-producing nations cutting output to support the market. 

cont https://www.bbc.co.uk/news/business-67294888

[SteveH]

How does your pay compare with other jobs?

The average full-time worker in the UK was earning nearly ?35,000 a year in April, official data shows, a rise of 5.8% on the previous year.

The size of that rise varies from job to job, with travel agents getting a pay bump of 21%, while sport coaches saw their earnings fall the most.

Despite the increases in pay, most workers' wages rose by less than inflation, the rate at which the cost of goods and services rise.

This means that in real terms, wages fell by 1.9% for full-time workers - a sign of the continued cost of living squeeze.

Use the lookup table below to see what the average pay is in your job group, how that has changed from the previous year, and whether a pay rise has topped inflation.

cont https://www.bbc.co.uk/news/business-67308318

[Helig]

Another mess created by our government:

https://goodlawproject.org/two-thirds-of-beds-bought-for-nightingale-hospitals-were-unfit-for-use/?utm_source=Good+Law+Project&utm_campaign=a4eb5d17eb-EMAIL_Investigations_2023_11_03_10_16&utm_medium=email&utm_term=0_db5adb9599-8e29602e85-%5BLIST_EMAIL_ID%5D&mc_cid=a4eb5d17eb&mc_eid=9f8454a5a5

I wonder who will profit from this?

[Hugo]

Don't forget the Fiasco of the PPE's  Helig,   not even put out to tender!       Be patient,  there's only 12 months left for this lot