Lloyds Bank To Cut 15,000 Jobs

Lloyds Bank To Cut 15,000 Jobs

According to reports, Lloyds Banking Group are set to cut 15,000 jobs in order for the taxpayer owned bank to save £1bn.

The cuts would mean that Lloyds would have cut 28,000 jobs since it’s takeover of HBOS which led the bank to be bailed out and is currently 41% owned by taxpayers.

It is because of the state funded bailout which has meant that Lloyds had to sell off 632 branches because of EU law.

 

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Monday, June 13,2011
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Barclays Will Settle PPI Claims

Barclays Will Settle PPI Claims

Barclays have announced they will pay out payment protection insurance claims which were made before April 20th.

The announcement made by the bank includes a promise to fully reimburse their customers plus 8% interest.

“We can confirm that we are contacting customers whose complaint was put on hold on or before 20 April with an offer to settle their complaint in full as a gesture of goodwill,” the bank said.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

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Monday, June 13,2011
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New Welfare To Work Scheme

New Welfare To Work Scheme

A new Government scheme to help people back into work begins today and aims to get 1 million people back into work over the next 2 years.

The new scheme will see some private sector companies finding work for people claiming jobseekers allowance.

Employment Minister Chris Grayling said: “The Work Programme will tackle the endemic worklessness that has blighted so many of the country’s communities for decades.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

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Friday, June 10,2011
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Fuel Rises In Europe Warning To Travellers

Fuel Rises In Europe Warning To Travellers

A new report by the Post Office has warned holidaymakers about the cost of petrol prices across Europe.

The price of petrol has risen in Europe of the past year causing fear that people may not be aware of the rise untill it is to late.

“The high fuel price increases in Europe mean that UK holidaymakers should plan their routes carefully in advance to cut costs,” said Sarah Munro, of the Post Office.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

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Friday, June 10,2011
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UK Interest Rates Remain At 0.5%

UK Interest Rates Remain At 0.5%

The Bank of England base rate has remained at 0.5% for the 27th month in a row despite recent inflation rises from food prices.

Inflation in the UK is currently 2% higher than the targets set by the Bank of England and was 0.5% higher in April than it was in March.

While it was expected that the interest rate would remain unchanged many experts are now warning that energy and food prices could force a change by the Bank of England.

James Knightley, economist at ING said, “with inflation likely to move above 5% in the next three to four months on the back of rising utility bills and food prices and with employment and employment intentions surveys remaining firm, we feel that the balance of probabilities favours an earlier move,”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

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Thursday, June 09,2011
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Rental Costs Continue Rising

Rental Costs Continue Rising

A new survey by the Royal Institute of Chartered Surveyors (RICS) has found that the cost of renting in the UK has continued to rise in the past quarter.

42% more surveyors had reported a rise in the cost of rent than those who had found it falling. 33% of surveyors also expect rent to increase than those who expect it to fall.

“Although we are beginning to see more mortgages aimed at first-time buyers, many potential homeowners are still restricted from getting a foot on the property ladder, leading to increased demand in an already oversubscribed rental market,” said Rics spokesman James Scott-Lee.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

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Thursday, June 09,2011
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Food Inflation Now At 23 Month High

Food Inflation Now At 23 Month High

According to a new report by the British Retail Consortium (BRC), food inflation has increased to 4.9% which is a 23 month high.

The biggest riser was wheat which increased 72% over the year while gas and electricity prices have began rising with Scottish Power’s price increase.

Analysts are now warning that the increase in both fuel and food prices could put pressure on the Bank Of England to increase interest rates.

 

Debt Support Trust is a registered debt advice charity(SC041902) providing debt advice on a range of debt solutions including;

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Wednesday, June 08,2011
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Pensioners Cut Food To Pay Heating

Pensioners Cut Food To Pay Heating

According to a new report by the Institute For Fiscal Studies, poor pensioner households are having to cut their food expenditure in order to pay for heating.

The report found that all retired households raised their fuel payments by 7% during the winter and food had to be cut to make up for the extra payments.

This report is a worrying statistic when considering the fact that Government has cut the winter fuel payment and Scottish Power are increasing their prices.

 

Debt Support Trust is a registered debt advice charity(SC041902) providing debt advice on a range of debt solutions including;

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Wednesday, June 08,2011
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Scottish Power Increase Energy Prices

Scottish Power Increase Energy Prices

For some time now we have been warning that energy companies may increase their energy prices and now we can confirm that Scottish power has announced their plans.

The energy supplier is planning to increase their gas prices by 19% and electricity prices by 10%. This has caused concern that inflation will also increase and may push some people over the edge financially.

The new energy prices are due to come into effect from the 1st of August according to Scottish Power.

 

Debt Support Trust is a registered debt advice charity(SC041902) providing debt advice on a range of debt solutions including;

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Wednesday, June 08,2011
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Poor Kids

Poor Kids

A one off documentary on BBC last night showed the problems which poor kids in the United Kingdom face on a daily basis.

Currently 3.5 million children live in poverty and according to research by OECD show that these children are the least likely to escape poverty compared to other countries.

“It’s appalling to think that the children in this documentary have little chance of escaping the poverty they live in,” said Sally Copley, Save the Children’s Head of Poverty in the UK.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

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Wednesday, June 08,2011
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