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Last year was tricky for many. With the coronavirus pandemic causing havoc in mid-March, many were furloughed or lost their jobs. It might have resulted in a struggle to make ends meet and turn to credit as a result – or maybe extending the debt they were already in. Around three in 10 Britons have … Read more
After years of failed New Year’s resolutions, it appears the global pandemic has helped Britons collectively pay off personal debt like credit cards and loans. Between March and October, the latest figures available from the Bank of England, Britons have paid £15.6billion off their plastic and other loans. When the pandemic swept the country in … Read more
ALEX BRUMMER: Eye-popping national debt is fine while interest rates remain low, but living on never-never is only sustainable short term In the UK, the Chancellor Rishi Sunak is projected to spend £280billion on the pandemic Donald Trump has finally put his signature to a bailout package which will pump a further £1.7trillion into the … Read more
A couple are raising their two-year-old daughter in the back of a converted bus after swapping their three-bedroom rental home for a life on the road. Will Watson, 32, and Kristin Batykefer, 30, of Jacksonville, Florida, bought a 1992 retired Air Force bus and spent $30,000 converting it into a mobile home, complete with a … Read more
ALEX BRUMMER: Chancellor could discourage risk taking and raise funds for Exchequer by removing break on debt interest – what’s holding him back? The common theme which dragged down firms before and during the pandemic is borrowings The UK tax system favours companies, whether owned by private equity, rich entrepreneurs or publicly quoted, which take … Read more
Rishi Sunak braces Britain for tax rises warning the country’s huge coronavirus-fuelled debt pile could be a disaster if interest rates spike By James Tapsfield, Political Editor For Mailonline Published: 09:22 GMT, 3 December 2020 | Updated: 09:22 GMT, 3 December 2020 Rishi Sunak has delivered another strong hint that tax rises are on the … Read more
Are you a secret spender? Britons hide an average of £600 worth of debt from their nearest and dearest (and it seems women are worse than men) Credit card debts, going overdrawn and secret bank loans all a problem Women worse than men when it comes to secret credit card bills, findings say Be careful … Read more
Interest payments on the national debt to be £70bn lower than expected over next five years thanks to rock-bottom rates By Daily Mail City & Finance Reporter Published: 21:50 GMT, 25 November 2020 | Updated: 21:50 GMT, 25 November 2020 Interest payments on the ballooning national debt will be almost £70billion lower than previously expected … Read more
Britons face £46billion of tax rises and spending cuts to start getting the government’s spiralling debt under control, the Treasury watchdog warned today. In a bloodcurdling assessment of the situation, the Office for Budget Responsibility said state borrowing is expected to hit £394billion this year as the coronavirus wipes 11.3 per cent off GDP. The … Read more
Rishi Sunak is readying billions of pounds more for infrastructure, the NHS and defence in what looks like a final splurge as the coronavirus crisis hammers the public finances. The Chancellor will use the spending review on Wednesday to push ahead with huge investment on schools, hospitals, colleges and prisons to meet Tory election pledges. … Read more