By Kevin Peachey Published 4 days ago comments Comments Share close Share page Copy link About sharing Interest rates have been raised for the sixth time in a row from 1.25% to 1.75%. The Bank of England's decision to increase rates by half a percentage point makes it the largest increase for 27 years. The move is an attempt to slow the rate at which prices are rising. The Bank has warned that inflation could pass 13% later this year. The last time interest rates were this high was during the global financial crisis in December 2008. Why does raising interest rates help lower inflation? Prices are going up quickly worldwide, as Covid restrictions have been eased and consumers spend more. Many firms have problems getting enough goods to sell. And with more buyers chasing too few goods, prices have risen. There has also been a very sharp rise … [Read more...] about UK interest rates: How does a rise affect me?
The three pillars why despite the coronavirus pandemic house prices continue to rise
Should you pick Disney Plus, Netflix or Prime Video? (Image: NETFLIX • PRIME VIDEO • WALT DISNEY • GETTY) This article contains affiliate links, we may receive a commission on any sales we generate from it. Learn more Struggling to find something to watch? A streaming service can be an affordable way to unlock hundreds of new TV shows, documentaries, sports fixtures (in some cases) and blockbuster movies. Streaming platforms like Netflix, Prime Video, and Disney+ are all available with rolling monthly contracts so, unlike some of the best Sky TV deals around, you will be able to cancel at any time – making these streamers incredibly flexible. But with news of an incoming Amazon Prime price rise in the UK – the first time costs have increased since 2014, which streaming service offers the ultimate value for money? Netflix remains the most popular, with 220 million subscribers worldwide. Despite huge success with its latest season of Stranger Things, which is … [Read more...] about Netflix vs Disney+ vs Prime Video: Which streaming service is worth the price?
By Connor Gillies Published 24 July Share close Share page Copy link About sharing With holiday season in full swing, BBC Scotland's consumer affairs correspondent Connor Gillies has taken a trip of his own. He wanted to find out how people across the country are coping with the rising price of energy, food and fuel. In four locations over four days, the phrase "cost of living" was greeted with a dreadfully familiar sigh from everyone we met. From Millport on the Isle of Cumbrae, to the Kelpies in Falkirk, Pitlochry and Fort William, our journey showed that every community in Scotland has a unique experience of this crisis. The Barclay family I met Ayrshire couple Gordon and Seonaid Barclay at a caravan park in Pitlochry. They described the current price rises and the impact it is having on their lives as "horrible". Seonaid said: "I shop around now and look for … [Read more...] about Cost of living crisis: How rising prices are affecting people in Scotland
A chalet owner who accepted a lower payment after selling to the Duke and Duchess of York has said she is “outraged” after the Duchess bought a Mayfair house worth £5 million . Isabelle de Rouvre, a French socialite, endured a protracted dispute with the couple over the 2014 sale of the luxury property in Verbier, Switzerland. Despite being owed approximately £6.8 million by the Duke and his former wife, she ultimately agreed to a lower payment of £3.4 million. This was partly because she believed the Yorks were short of cash, and that the situation had been worsened by the Duke’s legal difficulties relating to his friendship with Jeffrey Epstein, the convicted sex offender who took his own life in 2019. Ms De Rouvre, 74, said in January: “The war is finished.” However, last week it emerged that the Duchess, 62, had purchased a £5 million Mayfair home from the Duke of Westminster. It was reported that the property was bought as an investment opportunity for her … [Read more...] about Duchess of York’s £5m Mayfair mews purchase ‘outrages’ chalet owner who sold for cut price
After lockdown raided the savings of hairdresser and gym instructor Lucie Wilby, a lengthy wait for a hip replacement dealt another blow to her family’s finances. “We’re in a lot of debt because of it and that’s a combination of Covid and obviously surgery [and] waiting times,” the 53-year-old mother from Cornwall says. “If I hadn’t had to wait six months, we’d be nowhere near this issue.” Like many of the 6.6 million people on an NHS waiting list, work had become painful and eventually impossible for Wilby as the backlog in treatment forces people to cut their hours or stop employment altogether. “By the time of the operation, I was barely walking and I’m self employed,” she says. “It took about three years to get diagnosed. That’s one of the major problems – it’s not just the waiting time for the operation once you’re on the list, it’s the waiting time for diagnosis.” While tax cuts and even trans issues may have stolen the limelight in the Tory leadership race, the … [Read more...] about Britain really isn’t working – and the collapsing NHS is to blame
If the longest recession since the financial crisis and deepest fall in living standards since the 1960s were not bad enough, Britain is also facing economic humiliation on the international stage – if you believe Government critics. Keir Starmer last month accused former chancellor Rishi Sunak and Prime Minister Boris Johnson of leaving the UK with an “appalling joint economic legacy of the highest inflation and the lowest growth in the G7”. The G7 comparison paints Britain’s painful 9.4pc annual price rise in June as a remarkable outlier, but that does not depict the full picture. Firstly, much of the G7 is in a very similar position: US inflation is at 9.1pc and Germany at 8.2pc. Secondly, the UK is suffering less inflation than the average EU nation – price rises averaged 9.6pc in June across the bloc. Figures on the continent range from 6.1pc in Malta – high by historic standards but unusually low today – to a scorching 22pc in Estonia, according to data from … [Read more...] about Why Europe is suffering a worse inflation crisis than Britain
Published 30 June Share close Share page Copy link About sharing A third of Scots are cutting back spending on food and other essentials due to the cost of living crisis, according to a new report. The Fraser of Allander Institute is also warning that Scotland's recovery from the pandemic is starting to falter. It says rising prices are taking a toll on both companies and consumers. The think tank says it now expects growth of 0.5% next year, instead of the 1.5% it previously forecast. In its latest quarterly economic commentary report, the institute said consumers were starting to modify their spending behaviour in response to the ongoing crisis. More than half reported spending less on non-essential items. A third said they were spending less on essential items such as food and fuel, while the cost of properties is seeing a significant increase. It mirrors the … [Read more...] about Cost of living crisis: Third of Scots cut back spending on essentials
A PROFESSIONAL dog sitter has said that she makes £750 a week and loves her job but there is one type of dog she would never look after. Katie Glass stumbled upon the dream career when she used an app called Rover to book a dog-sitter for £60 while she attended a job interview. Seeing pictures of her beloved furry companion enjoying herself while she packed onto the boiling Tube led her to download Rover that very evening - and within just 48 hours she had four booking requests. But as cute as they are, there is one dog that Katie refuses to babysit - and it may come as a surprise. The seasoned dog-sitter says that she has a "no puppies" rule after her first customer Arti caused a lot of clean-up with his boundless energy, Katie told The Times : "Arti, a bouncy, bitey, lurcher-doodle puppy arrives and immediately makes herself at home digging up my flowerbeds, tearing around my house, constantly threatening to escape the garden and attack next door’s chickens, and … [Read more...] about I’m a dog sitter – I charge £750 a WEEK and I love my job… but there’s one type of dog I won’t look after
It says much about our politics that, at times of plenty, our politicians want to put prices up for the things they wish we did not want – such as fossil fuels – only to panic when, at times of distress, market forces do the job for them. Given the calamity coming our way , it is remarkable that the Tory leadership campaign has focused so briefly on the huge spike in energy costs. The energy price cap – already up twelve per cent last October and 54 per cent in April – will almost double this winter, from £2,000 to more than £3,600. Confronting this crisis will be the first urgent task for the new Prime Minister, whoever wins. The energy shock is causing rapid inflation, inflation is killing demand, and deep recession will follow. Already, pay disputes and strikes are disrupting the economy. Shortages and energy rationing are possible. Without help, millions of households will be unable to pay their bills. An organised “Don’t Pay” campaign threatens to withhold payments. If it … [Read more...] about There is another choice beyond what Sunak and Truss are offering
China could pressure Taiwan with economic boycott says expert SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info China's military has announced fresh military drills in the airspace and seas surrounding Taiwan on Monday. In another brazen show of strength, China's Eastern Theatre Command said it would conduct drills focusing on anti-submarine and sea assault operations. Taiwan’s Foreign Ministry has confirmed China dispatched 39 more aircraft near the island today in its latest show of force, with 13 Chinese warships also lurking in nearby waters. The minister has responded with a defiant statement, saying it would not “back down” in the face of China’s belligerence. It reads: “In the face of military intimidation created by China, Taiwan … [Read more...] about China-Taiwan LIVE: World holds breath as Beijing deploys 39 aircraft and 13 warships