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UK Personal Insolvency Rates Reach 10 Year LowMoneyExpert (blog)The Money Advice Trust, the body running National Debtline also welcomed the news about falling insolvency rates but expressed reservations about rising debt levels. "Many households will be able to accommodate this extra borrowing as the economic ...
The IndependentWeekly Money: the personal finance stories you might have missed 27 to 31 JulyThe IndependentThe cost of car insurance is being pushed up by a fresh wave of claims for personal injury such as whiplash, warns the Association of British Insurers. The average price for a year's comprehensive cover increased by 2.1 per cent in the last three ...
The IndependentWeekly Money: The personal finance stories you might have missed 20 to 24 JulyThe IndependentThe energy firms now owe us more than £1.1bn. Not all of us, however. Only about half of British homes are owed money, which is on average £93, according to uSwitch. The debts have built up because many homes used less energy than they paid for but ...
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The IndependentWeekly Money: the personal finance stories you might have missed 13 to 17 JulyThe IndependentIts report published today reveals that at GCSE level where financial education is compulsory, just 36 per cent of girls currently learn about personal finance, while 45 per cent of boys the same age do. Girls also receive significantly fewer classroom ...
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Budget Reflections

This Budget felt very different.

Usually we spend the speech neither listening to what the government is saying
nor to the doom laden responses of the loyal opposition, but next day we rush to the
papers to look at the tables of comparison that tell us how much
better or worse off we might be if we are pensioners, borrowers, savers, parents, 

smoke, drink or drive a car.  All the technical stuff about government borrowing and national indebtedness, pass
us by, as most of us  live in the present rather than the longer term .

I asked a friend how he felt after Wednesday's Budget. His answer:  ' Oh a bit
better off, because I can save more in ISAs' .  He also liked the extension
of the stamp duty exemption on properties at the lower end of the market as youngsters
in  his family are trying to get on the housing ladder.  So he was
responding as you would expect, but then he said 'But I'm really concerned
about all this government borrowing because the payback, when it comes,

will affect everyone in my family, and their friends, as well as me, for
years and years to come.'

I wonder how many of us feel the same.  This Budget is like an iceberg
with a red flag on top. The red flag, taxing the rich at 50%, was a
distraction; the immediate changes to savings and house purchase and the
like, are the 10% of the iceberg above the water clear for all to see. But when you look at
the great mass, the 90% that's below the water line things really do
look very worrying  and the water looks very murky.

Buried deep, down there in all the detail, along with the
devil, comes something I spotted which will affect a lot of people in my part of the
country in East Anglia: the decision to scrap tax breaks and
concessions, that were introduced to encourage investment in self catering
holiday cottages and boost the tourism industry, after April 2011. Many
people will sell up and tourism, a cornerstone of many local economies and the UK economy,
will suffer at a time when it was thought that the the home grown holiday
trade would benefit as people stayed in the UK. Just one tiny detail from the depts.

So what else is lurking there as yet unnoticed by the majority of people, I wonder.

My friend's last comment was also pointed : ' Who on earth would be mad
enough to get themselves elected, when they have to sort all this lot out?
Who indeed!!'


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