As many as three-quarters of local authorities in England plan to increase bills for families who currently have their council tax reduced or fully covered. The most vulnerable could be worst hit, according to the research from the independent research group the Resolution Foundation.
Click through latest news features
MONEY'S SIX OF THE BEST
How sky-high bank overdraft charges worth 53,000,000% force borrowers into the arms of payday lenders
Bank customers who run out of cash and are forced into the red must pay three times more for borrowing £200 for ten days in a current account than if they had taken a payday loan. The baffling and expensive charges are forcing many to use alternative lenders — whose up-front fees appear to be clearer and cheaper — but their tactics have been heavily criticised by MPs. ...read
DON'T MISS
- Five tips to getting that self-assessment form in before midnight Thursday TWO MILLION are set to miss deadline for online tax returns...
- 'My friend lost £50,000 after betting on when Americans would die' 'So whom should she approach for compensation?' Tony Hazell answers...
- Family gets £23,000 medical bill shock after father is put into coma on cruise ship Insurer initially refused claim because of previous illnesses.
- Now you can sue over flight delays Landmark ruling will mean payouts for hold-ups over 3 hours
- HSBC crackdown on financial crime Bank appoints Dave Hartnett as part of committee to oversee potential wrongdoing
- Midwives earn £29,248! Compare your pay to the national average in your job League table of official UK salaries across 400 trades and professions.
- 10p savings tax: Our step-by-step guide to claiming a perk worth £1,247 How to claim back overpayments and how much you could get.
- JAMES CONEY: Treading through the debt minefield People who fall into financial hardship should be supported by their bank, not a payday lender
- New fund supermarket offers cut-price fees for investors Regular fund savers can earn extra £1,000 in a decade by using Charles Stanley.
- 'Why did Santander take so long to send me a cheque after I closed my account?' 89-year-old reader left waiting in limbo for £3,000-plus.
- More than 95,000 National Savings customers to see rate jump by 1.75 percentage points NS&I; moves those in old Cash Isa to higher paying account.
- Best and worst cities to find a job revealed Get on your bike to Aberdeen? Jobseekers in Hull face 50 rivals for each vacancy.
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CITY & MARKETS
MARKET REPORT: Trouble at Italian oil and gas firm sparks Petrofac plunge
Saipem, which is controlled by Italian oil business Eni, issued a profit warning late on Tuesday night after the markets closed. The business said last year's profits would be 10 per cent below market forecasts, while it predicted next year's profits would be a whopping 50 per cent below consensus forecasts.
Latest from Markets
- CITY INTERVIEW: Don't blame us for rising bills, says Npower chief Paul Massara
- BP's record $4bn penalty for Gulf of Mexico tragedy approved
- Barclays' former pay chief opposed boss Bob Diamond's 2011 bonus
- MARKET REPORT: Trouble at Italian oil and gas firm sparks Petrofac plunge
- Toymaker Hornby on course to meet full-year expectations
- ALEX BRUMMER: Band of enforcers in control at HSBC
- FTSE CLOSE: Recent London market rally grinds to a halt after shock US economy contraction
- Footsie holds onto gains above 6,300 as analysts ask if 'January effect' could signal a 2013 shares bonanza
- Mothercare Australia goes into administration after sale to co-owner falls through
- Private security group assembles first private navy since East India Company to protect Indian Ocean shipping convoys from Somali pirates
- PIBS: Permanent interest bearing shares
- Customers flock to made-over Carpetright stores to check out new bed and flooring ranges
MONEY NEWS & ADVICE
Family gets £23,000 medical bill shock after father is put into coma on cruise ship and travel insurer refuses to pay up
When Anthony Thompson, 64, fell seriously ill on-board a cruise in the Atlantic Ocean his family thought that he would be covered by his Barclays Travel Plus bank account. But they then faced a traumatic battle over a £23,000 medical bill when the insurer providing the cover claimed that previous illnesses suffered by Mr Thomson had invalidated his policy.
SIMON LAMBERT: The house prices sham - how the Land Registry undercooks what homebuyers pay by £90k
The Land Registry's monthly figures, based on actual prices paid, are the stick used to beat other major reports. But they are nowhere near a fair reflection of what we pay for a home. Its paid-for report, which includes new-builds, paints a far truer picture of what people are paying for property - almost £250k.
Buy-to-let mortgage rates tumble to a six year low - so is now a good time for landlords to invest or remortgage?
Buy-to-let fixed mortgage rates have tumbled to levels last seen in 2007, as the Funding for Lending Scheme continues to boost landlords. The average rate across the top ten lowest rates for two-year fixed deals is 3.35% compared to 3.69% a year ago, according to Moneyfacts. But some serial landlords, like Tristan Compton, say lenders remain restrictive.
Compare your pay to the national average in your job: League table of official UK salaries across 400 trades and professions
Midwives in the UK get paid on average £29,248: so where does your salary fit into the national league table, and how does it compare to the average in your profession? Our table lists hundreds of Britain's jobs from company executives and doctors to van drivers, waiters and textile machine operators.
ASK TONY: My friend lost £50,000 after betting on when Americans would die
A 75-year-old lady acquaintance's investment fund was suspended in 2008 and she has been advised its value is in deficit! Basically, the fund has vanished. My questions to various bodies hitherto — and ones that remain unanswered — are: ‘Where are the proceeds of such policies going? Who is getting them?’ So whom should she approach for compensation?
The Green Deal energy efficiency scheme launches - should you borrow for home improvements?
The government’s Green Deal scheme was officially launched today with the aim to help 14million households improve energy efficiency. But will getting a loan reduce your bills?
Would you try it? Horse burger sales surge as controversial meat piques consumers' curiosity
The revelation that thousands of beef burgers eaten by British families may have been contaminated with horse meat provoked widespread revulsion across the UK. But for hundreds of shoppers it only served to pique their curiosity.
MORE BUSINESS, CITY AND ECONOMY NEWS
Tesco boss Phil Clarke can breathe a sigh of relief as latest industry figures appear to validate his turnaround plan
The under-pressure retail chief has spent £1bn trying to kick-start growth at the troubled UK business and early independent signs show this is beginning to work. For the first time since June 2011 Britain’s biggest retailer has maintained market share while simultaneously matching the average level of growth seen across the industry, data from Kantar Worldpanel shows.
YOUR MONEY ESSENTIALS
'We secured a low-rate five-year fix': Home loan freeze is thawing - but not for first-time buyers without a big deposit
In the past ten days, at least 12 lenders have cut rates on all or some of their home loans. Some, like Nationwide, Coventry and Skipton building societies, have been reducing rates almost weekly. Alistair Brown and his wife Liz have just remortgaged with NatWest to a five-year fix of 2.95 per cent.
WHAT NEXT FOR YOUR MONEY?
When will UK interest rates rise? Markets suggest Bank will not hike rates until 2014 at earliest
We explain the factors that will decide when interest rates rise - and how quickly, including the latest forecasts from markets and economists. ...read
New state pension age: when will you retire?
We explain the upcoming rule changes to the state pension age. Find out when you will be allowed to retire
Latest: Mortgages & home
- The great house prices sham: How the Land Registry undercooks what homebuyers pay by £90k
- Property market finds some cheer from cheap loans scheme as mortgage approvals hit eleven-month high
- Homeowners wanting to to cut energy bills are hit with £180 upfront fees for Green Deal - even if no work is done
- Buy-to-let mortgage rates tumble to a six year low - so is now a good time for landlords to invest or remortgage?
- 'I was facing debts that felt unmanageable': Pensioners forced to release cash in their homes to pay mortgages and bills
- Watchdog to rule interest-only loans were NOT mis-sold as officials face up to problem of borrowers unable to repay their mortgage
- House prices flat in January but agents more upbeat about gains this year as lending scheme kicks in
- Bank's figures set to show signs of life in mortgage market
- Northern Britain behind cities house price boom as cost of property in Aberdeen DOUBLES in 10 years
Latest from Investing
- New fund supermarket's cut-price fees can help investors earn an extra £1,000
- SMALL CAPS FOCUS: OPG Power Ventures' measured approach to expansion is key to its success
- Ignis UK Property: Fund managers aim for prime properties to beat falling shop values
- Cazenove UK Opportunities: Fund up 32% in a year thanks to Julie Dean's confidence and eclectic investing
- MIDAS SHARE TIPS: Revived Dogs snap at heels of the Footsie
- A 60% rise in the FTSE All-Share in the next two years? Optimism gathers pace and even the bears spot opportunities
- Oil firm Enquest tempts savers with retail bond offering a 5.5% return - should you bite?
- Watchdog probes ICAP over Libor sending shares tumbling
- Want to invest a little each month with your bank? Then you'll need £50k - or to fork out hundreds in charges
Latest from Saving & banking
- JAMES CONEY: Bank charges leave those in need treading a wary path through the debt minefield
- Battle to keep the 10p savings tax: Pensioners must claim back overpayments to stop preferred rate being scrapped
- 10p savings tax: Our step-by-step guide to claiming a perk worth £1,247
- More than 95,000 savers with National Savings & Investments to see rate jump by 1.75 percentage points
- How sky-high bank overdraft charges worth 53,000,000% force borrowers into the arms of payday lenders
- Move your cash Isa now to avoid a sharp rate dip as bonus periods come to an end
- How to start saving, beat the taxman and track down the best rates
- Iceland wins legal battle to avoid paying back UK for Icesave collapse compensation
- Co-op launches trust to protect customers' Christmas savings
- You think banking is free? Banks and building societies make £139 a year on each of the UK's 61 MILLION current accounts
ANSWERS FROM THE Experts
- Why did Santander take so long to send me a cheque after I closed my account?
- ASK TONY: My friend lost £50,000 after betting on when Americans would die
- 'Our insurer refused to pay out after our "lost" foster girl stole wife's £8,500 gems'
- ASK THE EXPERTS: Bank snubs my divorce payouts for mortgage
- 'I'm in work and disabled. Will a modest cash inheritance affect my working tax credit?'
- Money moral: Should I keep chasing my builder for a bill so I can pay what I owe - or forget about it?
- ASK TONY: I signed up for cheap foreign calls with Vodafone - then they were cancelled
- Is my home insurance invalid if I don't set my burglar alarm at night?
- My wife has dementia, can I cancel a debit payment from her account without power of attorney?
- Thomas Cook delayed and then diverted our flight home, but now won't look at our complaint
Currency | Rate | Buy now |
---|---|---|
Updated 31 Jan 2013. | ||
Euro | 1.1448 | Buy Now |
US Dollar | 1.5467 | Buy Now |
Australian Dollar | 1.4618 | Buy Now |
Canadian Dollar | 1.5413 | Buy Now |
Chinese Yuan | 9.4086 | Buy Now |
Croatian Kuna | 8.5301 | Buy Now |
Czech Koruna | 28.988 | Buy Now |
Danish Kroner | 8.4322 | Buy Now |
Egyptian Pound | 9.954 | Buy Now |
Euro | 1.1448 | Buy Now |
Hong Kong Dollar | 11.917 | Buy Now |
Hungarian Forint | 331.04 | Buy Now |
Japanese Yen | 140.45 | Buy Now |
Malaysian Ringgit | 4.6433 | Buy Now |
New Turkish Lire | 2.6921 | Buy Now |
New Zealand Dollar | 1.843 | Buy Now |
Norwegian Kroner | 8.3813 | Buy Now |
Polish Zloty | 4.7216 | Buy Now |
Singapore Dollar | 1.8967 | Buy Now |
South African Rand | 13.803 | Buy Now |
Sterling | 1.0 | Buy Now |
Swedish Kroner | 9.7066 | Buy Now |
Swiss Franc | 1.4218 | Buy Now |
Thai Baht | 45.153 | Buy Now |
UAE Dirham | 5.6269 | Buy Now |
LATEST ON HOUSEHOLD Bills
- Millions of the poorest households could see council tax bills rocket by more than £600 a year from April in benefits overhaul
- The Green Deal energy efficiency scheme launches - should you borrow for home improvements?
- Millions could be hit with council tax hikes as just one third of local authorities agree to freeze bills
- Millions of older property owners neglect home repairs because they can't meet maintenance bills
- At last, some-fin for nothing: Sainsbury’s free 'alternative' fish giveaway in stores across the UK today
- £5 for your jumble: H&M; scheme to recycle your old clothes in exchange for store vouchers
- 'My nephew bought a £500 trip to Nepal': Smartphone users warned over apps that can spend hundreds at the click of a button
- How to cut home insurance costs
- Small energy suppliers have the beating of their giant rivals on service - with npower and EDF Energy voted worst
- EBay to stop traders selling music and sports tickets as it tries to breathe life into reselling website StubHub
Latest from Cards & loans
- Tit-for-tat loans battle drives costs down: Derbyshire Building Society matches market-leading 5.1% rate
- You thought Wonga was bad? Meet Easy Finance Club - the payday lender with an APR of 68,300%
- John Lewis and supermarkets have best credit card customer service while High Street banks are slammed
- OUR PICKS: Best 0% balance transfer credit card rates and deals
- 'We weren't told about the £450,000 exit fee': Thousands of firms are gearing up to fight the banks over complex loans
- Barclaycard to launch new market-leading 25-month zero interest balance transfer card
- Borrowers with big credit card debts 'can save £830 in interest' by switching to best balance transfer deals
- Families' disposable income slashed by a fifth every month because of debt interest alone
- Councils' reckless use of bailiffs to chase debts as low as £50 sees record distress calls to advice charity
Latest: money and Cars
- OFT clears oil firms on petrol prices, despite experts' claims that they quickly rise but fall too slowly
- Cautious car owners can avoid paying sky-high insurance by proving they can drive like women
- Teenage female drivers see car insurance premiums rise by 50% since EU ruling
- Car insurance gap between young female and male drivers’ narrows as insurers digest EU gender rule
- Used car prices fall to their lowest level for more than a year – but some regions miss out on the best deals
- Britain set for an Arctic blast, so should you buy winter tyres? Could fitting them to your car help beat potential icy and snowy conditions?
- Revealed: Parking fee profits soar by 15% in a year – so how much did your Council make last year?
- Innocent victims of car crashes pay £700 more for repairs and car hire than motorists who are to blame
- 'I saved over £1,000 by using a 'black 'box' tracker': What to do to avoid a big bump in your car insurance
Latest reports from News
- Federal Reserve admits US downturn is not over yet as global recovery outlook darkens
- H&M; to open 325 new stores despite seeing outlay on new brand and online service eat into profits
- US economy dives at end of 2012 as Washington budget crisis shreds business confidence
- As TWO MILLION are set to miss deadline for online tax returns... Five tips to getting that self-assessment form in before midnight Thursday
- 'I'm not sure I'll be able to afford to insure my dog again': Why it's more expensive to insure a dog in Dorking than Durham
- Get on your bike to Aberdeen? Jobseekers in Hull face 50 rivals for each vacancy, as best and worst cities to find a job are revealed
- Now that's optimism! Greece will dig itself out of recession this year promises finance minister as he lectures Britain over EU exit
- Dragon's Den star Theo Paphitis joins race to snap up HMV
- High Street survival hopes dealt another blow as demand for retail space drops
- Would you try it? Horse burger sales surge as controversial meat piques consumers' curiosity
- George Osborne told case for second Budget is 'weak' as it could create economic uncertainty
- 30 SECOND GUIDE: Graphene
- VIEWPOINT by HUGO DUNCAN: Only a deluded elite would say this crisis is over
- Redundancy payouts cost employers £4.9bn last year with workers walking away with an average £12,000
Latest from Pensions
- A third of pensionless workers remain unconvinced about landmark auto-enrolment scheme
- Final salary pension schemes closing to new members at the fastest rate on record
- JEFF PRESTRIDGE: A retirement law injustice for one group of women
- Experts back lifting restrictions on NEST pensions as government review comes to an end
- 'Capping pension charges would be like capping the price of baked beans' says pensions minister
- Retirement incomes taken this year could be £14k less than in 2010 as dreadful annuity rates hit
- In debt and living on a pension: One in five retiring this year will owe more than £30,000
- DAN HYDE: Is Metro Bank any different to the big banks after all?
- Retired savers to see income boost as drawdown pensions cap to be lifted in March
- JEFF PRESTRIDGE: First steps for a retirement without fear
- Relief at pension drawdown change that will give savers an income boost
Latest from Holidays
- Winter holidaymakers lose £5.5million due to injury or lack of snow but STILL one in eight don't have insurance
- Family gets £23,000 medical bill shock after father is put into coma on cruise ship and travel insurer refuses to pay up
- Travel insurance: How to get the cheapest quotes and best cover
- 'I'm thankful I had winter sports cover when I broke my leg': Third of skiers risk £3m bills without cover
- Families filling up pre-paid currency cards with holiday cash urged to be cautious as Travelex hikes fees for new customers
- Bad news for cricket fans... Australia and New Zealand top expensive destinations league for UK tourists in 2013
- Rising rail fares 'could deter half of British holidaymakers staying in UK from travelling by train'
- Brits planning to take longer, more expensive and more adventurous holidays in 2013... but value for money is paramount
- Travel agent sues for libel over 'false, malicious and defamatory' internet holiday reviews
FIX YOUR FINANCES
- This is Money's five favourite cash Isas Essential Isa reading kept up-to-date throughout the year
- Should you fix your mortgage? The latest on the best deals and what next for mortgage rates
- How to plan for a richer retirement Whatever your age, there's a plan for you. Follow our decade-by-decade guide
- How to pick the best DIY investing Isa We explain how to decide and pick five of the best (and cheapest) available
- Energy bills: Is it worth switching? What are the best deals and should you fix?
- How to get out of debt Read our ten-step guide to getting back into the black
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