Money

Updated: 16:53 EST

Households 'face five years of falling disposable incomes'

The Resolution Foundation suggested that real household disposable incomes are set to fall for 19 successive quarters between 2015 and 2020. The 'unprecedented' squeeze will leave households an average of £540 worse-off by 2023 than forecast in March and pay rates will not return to pre-crisis levels seen until the middle of the next decade.

The VED increase, which will apply to new diesel cars registered from April 1 next year, will force buyers to pay up to £500 extra in the first year of ownership and raise more than £250million in total.

In the biggest single investment in the store's 180-year-history, Harrods owners Qatar Holdings will entirely redevelop the store's 330 different sections covering a million square feet of floor space.

The best used cars you can buy revealed by What Car?

This family hatchback is reliable, great to drive and easy to get your hands on. In fact, it took the crown as the best used car because the market is flooded with low-mileage examples with full service histories and barely a scratch on the paintwork. So can you guess which model it is?

Stamp duty should be taken back to a flat 1% across the board, but if we won't do that and give up the revenue maybe it is time to charge the seller on their gain not the buyer.

The rise in borrowing – £29bn over the forecast period already – has led to gloom from the Office for Budget Responsibility as to when the holy grail of a balanced budget might be achieved.

Love it or loathe it, Black Friday is now a huge annual event which sparks a shopping frenzy both in stores and online - and is an extravaganza that rivals Christmas for spend.

Chief executive John Rogers said: 'There needs to be a full reform of business rates - a business tax that's based on property ownership is not fit for purpose.'

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MARKET REPORT: Pub chain Mitchells & Butlers plunges 7%

The firm, which owns Harvester, All Bar One and Toby Carvery, said the economic and political uncertainty in the UK had forced it to cancel its next payment. Full-year profits dropped to £77m from £94m the year before, despite a small uplift in sales at £2.2bn from £2.1bn. Mitchells & Butlers recommended a final dividend of 5p per share but did not recommend an interim dividend for the current financial year.

On average, female employees earn 24.2 per cent less than male staff. Men and women who do the same jobs are paid the same – but top roles are dominated by men.

Shares in Centrica fell more than 15 per cent yesterday as it revealed British Gas had lost 823,000 customers since June 30. Customers have left in droves after the firm hiked its prices.

Trading firm CMC Markets, which is run by former Tory party treasurer Peter Cruddas (pictured), is hoping to win new business from the super rich.

But Dimon, the boss of the Wall Street bank, says rival Democrats will ‘have to come up with a reasonable candidate or Trump will win again’.

Matthew Westerman's surprise departure is much discussed among staff, some of whom suggest he's in a huff over failing to land the chief executive job awarded to HSBC lifer John Flint.

How the Chancellor's Budget will cut income tax bills

Higher rate taxpayers earning £50,000 a year will get a £236 tax cut next year, while those earning £30,000 will benefit to the tune of £101. The rise in the amount workers get to keep from their pay came as the Chancellor lifted the tax-free personal allowance to £11,850 and partially reversed years of fiscal drag by lifting the higher rate tax threshold to £46,350. Check what you will save.

Chancellor of the Exchequer Philip Hammond has delivered his second Budget address of 2017 to Parliament. All the key news is revealed here...

Prudent Britons hoping for some cheer in the Budget today were left bitterly disappointed, with the official 86 page document containing zero mentions of the word 'savers'.

The Chancellor has delivered a stamp duty giveaway that could save first-time buyers £5,000, but ultimately this will drive up house prices, the Budget watchdog has warned.

While it is relatively easy to predict the productivity of a factory, it is far trickier to come up with accurate forecasts for the digital economy, where the UK is a world leader, leading to unnecessary gloom.

Pension savers dodge a Budget hit on tax relief

Pension savers will keep their tax breaks after Chancellor Philip Hammond resisted butchering the popular incentives to raise cash for other pet projects. It was feared a major overhaul was on the cards - which could penalise older or richer savers or both - to fund a giveaway to young people.

Landlords breathed a sigh of relief as fears of another Budget tax raid proved unfounded - with the only buy-to-let reference a pledge to look into longer-term tenancies.

After his last Budget backfired, Chancellor Philip Hammond has gone all out to woo Britain's small and medium-sized business in the Autumn Budget.

OBR cuts forecasts for UK economic growth from 1.6% to 1.4% in 2018, from 1.7% to 1.3% in 2019, from 1.9% to 1.3% in 2020, and from 2% to 1.5% in 2021.

Emma and James Coles, from Milton Keynes, are both business analysts and are taxed at the standard rate. They doubt they will notice the benefit from the rise in tax-free personal allowance.

The best dash cams for under £150

If you have a dash cam fitted you will have solid evidence of what actually happened in an accident, it won’t simply be your word against theirs. This evidence can be used by the insurance companies or the courts to ascertain the truth and apportion blame, something which could be very beneficial to you. Here are 7 of the best devices for capturing footage for under £150.

What Car?'s Target Price index, which calculates the most you should pay for a new car, shows that the average saving being offered on diesel cars is £2,716 - compared to £2,162 for petrol models.

I switched back to Eon after being with Sainsbury's Energy for a year, but now it's telling me the smart meter it fitted no longer works, says reader David Ackroyd from Halifax (pictured).

How movie deals revived Matchless' British leather jackets

Having popular fictional characters wear branded clothing might seem novel, but for Matchless's new owners, the Malenotti family, it is underpinned by a serious want to kickstart the heritage brand back into gear.

In 2012, we featured the case of David Burnett, a lifelong 20-a-day smoker who was then 65. His smoking meant he qualified for more annuity income than a healthy man would have got.

Should I take my delayed state pension as lump sum?

In November 2014, on reaching 65, I deferred receiving my state pension. With the government scheme promising a return of 10.4 per cent on the accumulated amount and a weekly pension, it seemed a 'no-brainer'. I am also receiving a local education authority and teacher's pension. Could you advise me whether to take the three years' accumulated amount as a lump sum or to start taking my state pension at the new rate. Which would be the most advantageous?

The firms that charge you to pay by credit card shamed

Dozens of travel companies, insurers, car dealers and even local councils are charging rip-off fees for paying by credit card - even though the Government says this is unacceptable. Our investigation found customers are having to fork out as much as 3 per cent extra to pay by credit card. In some cases, they are being charged £150 more than they would if they paid by debit card.

The number of savers looking for a fixed-rate deal dropped by almost 10 per cent in the past month, according to research from data monitors Moneyfacts.

Savers looking for the best deals on their easy-access money need to act quickly - and watch out for traps. Top deals can be on sale for a matter of days before they are taken off the market.

What is an Isa? We explain how to pick the best for you

Isas used to be so simple. Now there are new Isas popping up all over the place with ever-more complexity. So we go back to basics and explain what they are and what they're good for. In this episode of the Big Money Questions, senior investment planner at Vanguard James Norton goes through what you need to know, and how you can get started if you are saving for the long term and want to open a stocks and shares Isa.

The Chancellor is set to collect the sum from stamp duty, capital gains tax and inheritance tax between now and 2022. These three taxes provided nearly £100bn over the last five years.

The building society last week launched a deal letting borrowers aged 55 to 84 release cash from their home without having to make monthly payments.

The new Aston Martin Vantage revealed

Even before it was off the design board, the dramatic face of the new Vantage became the inspiration for the DB10 - of which only ten were made for use in the Bond movie Spectre and driven by Daniel Craig. That's because Bond movie bosses preferred it to the looks of Aston's DB11. Now the real-life Vantage has been revealed and here are the first images of the 195mph 4.0-litre twin-turbo V8 sports car.

The most annoying thing about being charged extra to pay by credit card is discovering this nasty little surprise at the checkout.

London home owners are being hammered by stamp duty costs when they move, an estate agency has warned ahead of the Budget.

Will I lose my widow's state pension by remarrying at 73?

I would like to know if I am going to lose my widow's state pension now that I have remarried. I am 73 years old and was married on September 1 this year. I have written to the pension people and rung them and have sent a copy of my marriage certificate which was counter signed at the job centre but I've heard nothing from them.

The £2.3bn Meerkat calls off London float

The Canada Pension Plan Investment Board agreed to buy 30 per cent of shares in the business, which is famous for its adverts with the colourful meerkat Aleksandr Orlov, valuing it at £2.25bn. The deal is expected to complete in April, with BHL – the owner of BGL – retaining a majority stake.

Fankhauser earned £1.8m with a salary of £711,000 and benefits of £67,000. He got 77.1 per cent of the maximum bonus available based on the firm’s profits, cash flow and ‘customer at heart’ strategy.

The consumer goods giant, which owns brands including Hellmann’s mayonnaise and Persil, has reportedly hired headhunters in preparation for the departure of its chief exec.

Thames, which serves 15m customers in London and the Thames Valley, appointed Ian Marchant, the former chief executive of energy firm SSE, as independent chairman.

David Brown (pictured), who was chief executive of Ve Interactive, and Martin King, previously a director, ‘ran out of any other options’, the High Court was told.

Aston Martin accelerates to record profits

The British car maker recorded pre-tax profit of £22million in the first 9 months of this year, reversing losses of £124 million for the same period last year. It put the success down to the popularity of the new DB11 and buyers choosing higher specifications for their cars. And things could get better next year with the arrival of the new Vantage (pictured) - the model bosses predict will become the best-selling Aston Martin of all time.

With a tough UK market, 'challenging' trading in the Middle East and a turnaround scheme in full swing, the retailer's total sales fell by 2.4 per cent.

In September, British Gas increased the price of customer electricity bills by 12.5 per cent. Owner Centrica has seen its share price plunge over 15 per cent.

Britain's biggest developers languished at the bottom of the FTSE 100 index after the Chancellor unveiled £44bn reforms designed to boost construction.

The FTSE 250 listed group saw its annual pre-tax profits fall from £94million to £77million, claiming conditions pose an 'unprecedented level of challenge and uncertainty.'

Chancellor Philip Hammond yesterday announced he would start selling shares by March 2019, even though he is unlikely to get back what was spent on the rescue.

Cowardice by Chancellors, afraid of the political fall-out if shares were sold at a loss, has left the taxpayer ever poorer. The cost of bailing out RBS is far beyond the initial injection of £45.8bn.

Scotland's fashion hit Quiz heads to the US

The brand, which positions itself alongside the likes of online retailers Boohoo and Asos, has 70  stores and 149 concessions in the UK and Ireland. Strong results were also lifted by the continued expansion in the UK and the opening of three stores in Spain and franchises in 20 countries.

SSP runs businesses at airports and train stations in the UK and abroad, with Upper Crust and Ritazza among its brands. Shares have soared 190 per cent since it joined the market in July 2014.

Chairman Donald Brydon is locked in a battle with billionaire hedge fund boss Sir Christopher Hohn over the departure of the LSE's imperious French chief executive Xavier Rolet (pictured).

Thomas Cook said higher hotel price inflation, the weaker pound and increased air capacity made holidays to Spain more competitive than in previous years, putting pressure on prices.

The Food and Drug Administration gave the green light to the first two-drug regimen to treat HIV, the virus that causes AIDS. Current treatments combine three or four medicines.

Jaguar’s E-Pace is the small cat expected to sell big

The E-Pace is expected to build on the success of Jaguar's first ever SUV, the bigger F-Pace, and win over a new breed of family buyers to the firm. I was one of the first to get behind the wheel - both on and off the road - as Jaguar held its international launch around the highways and byways of leafy Surrey and Sussex this week.

Since 2008, cigarette packets have featured images showing damage caused by smoking in a bid to reduce the habit. Campaigners say the same should be done with speed limit signs.

Christmas shoppers who use the car have been warned to be 'very wary' about using private car parks during the festive period thanks to the snowballing number of fines in recent years.

Can tin foil behind your radiators cut energy bills?

The idea is simple - using a reflective foil behind your radiator will bounce heat back into the room, rather than letting it seep out through the walls of your home. So how much does it actually save? And is it worth buying special radiator reflectors or will tin foil work just as well? We find out.

Britain's biggest energy supplier is planning the biggest industry reforms for more than 15 years as it's expected to announce it will no longer sell open-ended or rolling standard variable tariffs (SVTs).

For many who have heard about the cryptocurrency boom, a major grumble has been how to buy it without jumping through hoops, worries over security and how to actually spend it.

Should you invest in the technology boom or fear a bust?

The worry for tech investors is how to pick the genuinely game-changing companies from the hyped-up wonders - and deal with sky-high valuations. Rarely has a sector been more closely watched for the first signs of boom turning into bust, yet at the same time contain firms genuinely changing our lives. We take a look and pick four top funds.

HETHERINGTON: It's the 's' that gives the game away

In a telephone call out of the blue, Paul Gray of Herald Investment Trusts said I held £5,000 in carbon credits and that it had a buyer lined up. I do have these credits, but had written them off as a bad investment. All sounded fine until I was told Herald could guarantee a sale for £8,000, but I would have to pay £1,640 into a bank account, to be refunded after the sale.

A London estate agent who appeared on the BBC's Homes Under The Hammer has been named in an investigation into alleged corruption by a former Nigerian oil minister.

Many think a will is not necessary because they believe family and friends will decide who gets what of any assets - but this is not the case.

Pay for Christmas with our six seasonal saving tips

Research by eBay says we are likely to spend an incredible £748 each on up to 48 different gifts this year - with toys, clothes, gadgets and perfumes the most popular purchases. The good news is that it is possible to recoup the full cost of Christmas by kicking off a pre-holiday review of all our other regular expenses. You may need to wait until some annual insurance policies and contracts expire to make the biggest savings.

50 ways to save money....

To clear the average national household debt of £13,000 at 6% interest with a monthly repayment of £100 will take around 17 years. There are, however, plenty of simple ways to make significant savings on your regular spending that could clear your debt - or boost your savings - in less than a year. This is Money's top 50 - updated - money-saving tips may appear light-hearted but are deadly serious.

Pick the best (and cheapest) investment Isa platform

Choosing the right DIY platform is crucial but a wealth of choice and changes to charges have left many investors scratching their heads. We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever.

We asked trusted experts to recommend the best funds that cover different investment sectors - and included This is Money's selection of active and passive options too.

Rightly or wrongly, some people simply want a quick, straightforward route map to investing in an Isa. To that end, this is our distilled guide to getting started.

How much money do I need to save for my pension?

The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save. We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

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Making the most of a pension is your best chance of securing a decent income when you retire. We explain what you need to know.

Even at a time when we are stretching our finances further to afford a home, moving less, and pushing mortgages beyond 30 years, we still remain captivated by two-year fixed rate deals.

When will UK interest rates rise?

The Bank of England has raised the base rate back to 0.5 per cent. The move up from 0.25 per cent is accompanied by an Inflation Report, which will outline where the bank sees things moving next. Expectations are that rates will not move up swiftly after this first rise, This is Money will bring you the details of the Inflation report and analysis imminently.

What next for mortgage rates?

Borrowers are being offered a raft of cheap fixed rate mortgages as lenders attempt to lure them into remortgaging or buying a home. But HSBC has decided to buck the trend and launch a new rate mortgage that is a tracker instead. We pick out the best fixed and tracker rate mortgages and look at what next for rates.

Ten tips for buy-to-let

For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Climbing house prices, rising rents and improving mortgage deals are tempting investors - although they will need a big deposit. Read This is Money's top ten buy-to-let tips

Best paid jobs and biggest pay rises of 2016 revealed

Compare your pay to the national average and see whether your employer treated you to a pay rise in line with the the rest of your profession. Farmers, care and air travel assistants were big winners on the pay scales in 2016. Travel agents, careers advisers and probation officers lost out.

   

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