![](\"https://multiply.ghost.io/content/images/2021/03/image-20.png\")
The 1-minute read to get all the money news plus expert adviser views.
The north-south divide in the property market has been turned on its head, with house prices growing fastest in the north west. London is the worst performer. Overall, prices slipped 0.2% in March, according to mortgage lender Nationwide. It reckons the slowdown was driven by a fall in demand ahead of the original end of the stamp duty holiday, which would have been yesterday.
The national living wage goes up today, delivering a pay bump to 2 million people, including 23 and 24 year olds for the first time. It has risen 2.2% to £8.91 an hour, a pay rise worth £345 a year for a full-time worker. The voluntary Real Living Wage also rises to £10.85 an hour in London and £9.50 outside the capital, but only a few employers have signed up to pay it.
From today, businesses can get up to £18,000 in restart grants to help them reopen after lockdown. Councils have been urged to get the £5 billion funding into companies’ pockets as soon as possible. Non-essential shops, pubs, restaurants, and gyms will all be eligible for the funding.
Unity Mutual has fixed its market-leading Lifetime ISA interest rate at 1.5% for another year, guaranteeing the rate until 5th April 2022. Amid a landscape of low cash returns, other providers such as Moneybox have dropped their interest rates. Unity Mutual has been offering 1.5% interest on its LISA since April 2019.
","url":"https://multiply.ghost.io/house-price-divide-revealed/","uuid":"7c924cbc-978f-4261-965a-d0ed566ee145","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6065760c5f52a1003b1db729"}},{"node":{"id":"Ghost__Post__60643a5a5f52a1003b1db6e4","title":"Economy bounced back","slug":"economy-bounced-back","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/415.png","excerpt":"Plus: key workers priced out of homes, worst tax year on record for savers, businesses explore 4 day week.","custom_excerpt":"Plus: key workers priced out of homes, worst tax year on record for savers, businesses explore 4 day week.","created_at_pretty":"31 March, 2021","published_at_pretty":"31 March, 2021","updated_at_pretty":"31 March, 2021","created_at":"2021-03-31T09:01:14.000+00:00","published_at":"2021-03-31T09:08:41.000+00:00","updated_at":"2021-03-31T09:08:41.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news with expert adviser views.\n\nGDP bounce\nThe economy grew 1.3%\n[https://www.reuters.com/article/uk-health-coronavirus-britain-economy-idUSKBN2BN0L8] \nin the last 3 months of 2020, according to the Office for National Statistics\n(ONS). That might not sound like much, but it’s higher than the previous\nestimate of 1%. The savings rate also jumped in the final quarter, meaning Brits\nsaved 16.3% of their income in 2020 - that’s the highest on record.\n\nKey workers priced out\nFrontline workers are priced out of home ownership\n[https://www.theguardian.com/uk-news/2021/mar/30/covid-frontline-workers-priced-out-of-homeowning-in-98-of-great-britain] \nin 98% of the UK, according to analysis by The Guardian. It found the average\nearnings of some workers are too low to qualify for the mortgage needed to buy\nan average-priced home in many areas, even with a 10% deposit.\n\nWorst tax year ever\nThe tax year is coming to a close, and many savers will be happy to see the back\nof it. It’s been the worst tax year on record for returns, with the average Cash\nISA rate sitting at just 0.63%\n[https://www.telegraph.co.uk/personal-banking/savings/cash-isa-savers-suffer-worst-tax-year-record/]\n*. Inflation since April 2020 has averaged 0.78%, meaning savers have lost money\nin real terms.\n\nHot cakes\nWaltham Forest has topped a list of London boroughs where homes sell fastest,\nwith two-bed terraced houses snapped up in just 35 days\n[https://www.cityam.com/revealed-the-london-boroughs-where-houses-sell-fastest/]\n. Suburban boroughs dominate the list, with Barking and Dagenham, Bexley, and\nRedbridge close behind.\n\n4 day week?\n1 in 5 small businesses are considering cutting their work week to 4 days\n[https://www.telegraph.co.uk/business/2021/03/31/four-day-week-cards-one-five-firms/]\n* in a bid to boost productivity. Many large companies are already trialling the\nidea. The survey by Be the Business also found 5% of small firms already have a\n4 day week.","html":"The 1-minute read to get all the money news with expert adviser views.
The economy grew 1.3% in the last 3 months of 2020, according to the Office for National Statistics (ONS). That might not sound like much, but it’s higher than the previous estimate of 1%. The savings rate also jumped in the final quarter, meaning Brits saved 16.3% of their income in 2020 - that’s the highest on record.
Frontline workers are priced out of home ownership in 98% of the UK, according to analysis by The Guardian. It found the average earnings of some workers are too low to qualify for the mortgage needed to buy an average-priced home in many areas, even with a 10% deposit.
The tax year is coming to a close, and many savers will be happy to see the back of it. It’s been the worst tax year on record for returns, with the average Cash ISA rate sitting at just 0.63%*. Inflation since April 2020 has averaged 0.78%, meaning savers have lost money in real terms.
Waltham Forest has topped a list of London boroughs where homes sell fastest, with two-bed terraced houses snapped up in just 35 days. Suburban boroughs dominate the list, with Barking and Dagenham, Bexley, and Redbridge close behind.
1 in 5 small businesses are considering cutting their work week to 4 days* in a bid to boost productivity. Many large companies are already trialling the idea. The survey by Be the Business also found 5% of small firms already have a 4 day week.
","url":"https://multiply.ghost.io/economy-bounced-back/","uuid":"a7d5fa43-43c5-4774-8e95-1b7f77db59dd","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60643a5a5f52a1003b1db6e4"}},{"node":{"id":"Ghost__Post__6062dc7d5f52a1003b1db6b9","title":"The next pandemic?","slug":"the-next-pandemic","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/414.png","excerpt":"Plus: Deliveroo IPOs tomorrow, Spoons opening 18 new pubs, tube facing 12% revenue dip.","custom_excerpt":"Plus: Deliveroo IPOs tomorrow, Spoons opening 18 new pubs, tube facing 12% revenue dip.","created_at_pretty":"30 March, 2021","published_at_pretty":"30 March, 2021","updated_at_pretty":"30 March, 2021","created_at":"2021-03-30T08:08:29.000+00:00","published_at":"2021-03-30T08:14:36.000+00:00","updated_at":"2021-03-30T08:20:14.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nGlobal treaty\n20 world leaders including Boris Johnson have called for countries to work\ntogether to defeat future pandemics\n[https://news.sky.com/story/pm-joins-world-leaders-to-call-for-global-treaty-to-prepare-for-next-pandemic-12260490]\n. They say the coronavirus crisis has been a reminder that “nobody is safe until\neveryone is safe”. The treaty would be similar to the post-WW2 agreement, and\nwould aim to share resources, data, and research between countries to build\nresilience.\n\nDeliveroo IPO\nDeliveroo will float its shares\n[https://www.reuters.com/article/uk-deliveroo-ipo-preview-idUSKBN2BM0GV] on the\nLondon Stock Exchange tomorrow. It’ll be the UK’s biggest initial public\noffering (IPO) in a decade. With a strong year of lockdown business under its\nbelt, it was fully subscribed within hours. But many big investors are sitting\nthis one out, over concerns about riders’ working conditions and the threat of\nstrike action.\n\nEven more Spoons\nWetherspoon has announced plans to open 18 new pubs\n[https://www.cityam.com/wetherspoon-to-invest-145m-in-new-pubs-and-upgrades/] \nand create 2,000 new jobs, starting within weeks of pubs reopening. It’s\ninvesting £145 million to boost its business across the UK, and says it’s just\nthe start of a 10-year expansion plan. Spoons boss Tim Martin did warn that the\ninvestment is conditional on the UK reopening its hospitality sector\npermanently, with no further lockdowns.\n\nTube squeeze\nTransport for London (TfL) is facing a 12% hit to revenue\n[https://www.cityam.com/transport-for-london-to-face-funding-squeeze-as-journey-numbers-will-never-hit-pre-covid-peak/] \nwith passenger numbers predicted never to return to pre-pandemic levels. 1 in 5\nwill no longer need TfL’s services, according to analyst Moody’s. London\ntransport relies on fares to cover 70% of its costs, more than the likes of\nParis and New York where fares make up just 35% of income.","html":"The 1-minute read to get all the money news plus expert adviser views.
20 world leaders including Boris Johnson have called for countries to work together to defeat future pandemics. They say the coronavirus crisis has been a reminder that “nobody is safe until everyone is safe”. The treaty would be similar to the post-WW2 agreement, and would aim to share resources, data, and research between countries to build resilience.
Deliveroo will float its shares on the London Stock Exchange tomorrow. It’ll be the UK’s biggest initial public offering (IPO) in a decade. With a strong year of lockdown business under its belt, it was fully subscribed within hours. But many big investors are sitting this one out, over concerns about riders’ working conditions and the threat of strike action.
![](\"https://multiply.ghost.io/content/images/2021/03/image-18.png\")
Wetherspoon has announced plans to open 18 new pubs and create 2,000 new jobs, starting within weeks of pubs reopening. It’s investing £145 million to boost its business across the UK, and says it’s just the start of a 10-year expansion plan. Spoons boss Tim Martin did warn that the investment is conditional on the UK reopening its hospitality sector permanently, with no further lockdowns.
Transport for London (TfL) is facing a 12% hit to revenue with passenger numbers predicted never to return to pre-pandemic levels. 1 in 5 will no longer need TfL’s services, according to analyst Moody’s. London transport relies on fares to cover 70% of its costs, more than the likes of Paris and New York where fares make up just 35% of income.
","url":"https://multiply.ghost.io/the-next-pandemic/","uuid":"46a4d598-c8dd-4229-946c-a262d3913193","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6062dc7d5f52a1003b1db6b9"}},{"node":{"id":"Ghost__Post__6061991d5f52a1003b1db6a9","title":"England unlocks (a bit)","slug":"england-unlocks-a-bit","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/413.png","excerpt":"Plus: 1 in 5 pause exports to EU, Ever Given floats free, and roads closed for al fresco dining.","custom_excerpt":"Plus: 1 in 5 pause exports to EU, Ever Given floats free, and roads closed for al fresco dining.","created_at_pretty":"29 March, 2021","published_at_pretty":"29 March, 2021","updated_at_pretty":"29 March, 2021","created_at":"2021-03-29T09:08:45.000+00:00","published_at":"2021-03-29T09:11:51.000+00:00","updated_at":"2021-03-29T09:11:51.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nStep out of lockdown\nPicnics, barbecues, and afternoons on the golf course or football pitch are all\nback on the cards, as England takes its latest baby step out of lockdown. Groups\nof 6 are allowed to meet up outside [https://www.bbc.co.uk/news/uk-56559173],\nand organised sports are starting up again. Northern Ireland will follow suit on\nThursday and Scotland on Friday, while Wales already lifted its “stay local”\nrule over the weekend.\n\nEU exports stalled\n1 in 5 small British exporters have paused sales to the EU\n[https://www.reuters.com/article/us-britain-eu-exports-idUSKBN2BK0RV] amid\nBrexit disruption and delays. Companies trying to export to the continent have\nbeen struggling with the new paperwork and unfamiliar rules. British exports to\nthe EU fell by a record 40.7% in January, and imports fell by 28.8%.\n\nEver Given freed\nThe mega-container ship lodged in the Suez Canal is finally floating\n[https://news.sky.com/story/suez-canal-breakthrough-as-huge-container-ship-partially-refloated-12259837]\n, after nearly a week of blocking £6.5 billion a day of global trade. She is\nstill stuck though, so the job’s not done yet. The traffic jam has pushed up\nglobal freight and oil prices, and forced ships to take the long way round the\nCape of Good Hope. Oil prices have slipped back 2% on today’s news.\n\nAl fresco takeover\nTowns and cities across the UK are getting ready to turn streets into al fresco\ndining rooms\n[https://www.theguardian.com/business/2021/mar/29/uk-towns-and-cities-to-make-room-for-return-of-alfresco-dining] \nonce again. Outdoor hospitality is slated to reopen on 12th April, but just 40%\nof pubs and restaurants have their own outside space. 60 roads will be closed in\ncentral London, and Manchester and Birmingham are also planning to pedestrianise\nsome areas.","html":"The 1-minute read to get all the money news plus expert adviser views.
Picnics, barbecues, and afternoons on the golf course or football pitch are all back on the cards, as England takes its latest baby step out of lockdown. Groups of 6 are allowed to meet up outside, and organised sports are starting up again. Northern Ireland will follow suit on Thursday and Scotland on Friday, while Wales already lifted its “stay local” rule over the weekend.
1 in 5 small British exporters have paused sales to the EU amid Brexit disruption and delays. Companies trying to export to the continent have been struggling with the new paperwork and unfamiliar rules. British exports to the EU fell by a record 40.7% in January, and imports fell by 28.8%.
The mega-container ship lodged in the Suez Canal is finally floating, after nearly a week of blocking £6.5 billion a day of global trade. She is still stuck though, so the job’s not done yet. The traffic jam has pushed up global freight and oil prices, and forced ships to take the long way round the Cape of Good Hope. Oil prices have slipped back 2% on today’s news.
Towns and cities across the UK are getting ready to turn streets into al fresco dining rooms once again. Outdoor hospitality is slated to reopen on 12th April, but just 40% of pubs and restaurants have their own outside space. 60 roads will be closed in central London, and Manchester and Birmingham are also planning to pedestrianise some areas.
","url":"https://multiply.ghost.io/england-unlocks-a-bit/","uuid":"a435ff98-d254-4377-a178-9dfc6a81b71b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6061991d5f52a1003b1db6a9"}},{"node":{"id":"Ghost__Post__605db1955f52a1003b1db691","title":"Suez tailbacks costing billions","slug":"suez-tailbacks-costing-billions","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/412.png","excerpt":"Plus: Retail rebound in February, FCA failing investors? And 100,000 more bosses claim furlough.\n","custom_excerpt":"Plus: Retail rebound in February, FCA failing investors? And 100,000 more bosses claim furlough.\n","created_at_pretty":"26 March, 2021","published_at_pretty":"26 March, 2021","updated_at_pretty":"26 March, 2021","created_at":"2021-03-26T10:04:05.000+00:00","published_at":"2021-03-26T10:16:23.000+00:00","updated_at":"2021-03-26T10:16:23.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nEver Given still stranded\nThe mega-container ship stuck in the Suez canal is holding up £7 billion of\nglobal trade [https://www.bbc.co.uk/news/business-56533250] every day - and it\ncould be there for weeks. The Ever Given got lodged earlier this week, causing\nhuge tailbacks. The delayed ships at either end are loaded up with oil,\nfurniture, clothing, and other goods.\n\nRetail rebound\nWe bought slightly more stuff last month, especially garden furniture and DIY\nsupplies. Overall sales volumes rose 2.1% in February\n[https://www.reuters.com/article/uk-health-coronavirus-britain-economy/uk-retail-sales-rise-in-february-consumers-prepare-for-garden-parties-idUSKBN2BI0SJ] \n- a small bounce from the 8% nosedive we saw in January as the third national\nlockdown took hold. 36% of all shopping was done online - another record,\naccording to the Office for National Statistics.\n\nFCA failing investors?\nThe Financial Conduct Authority needs to do more to warn investors about\ninvestment scams and fake websites, according to Which?. The number of rogue\ninvesting sites more than doubled last year, from 573 to 1,184, and the\nregulator is struggling to keep up\n[https://inews.co.uk/inews-lifestyle/money/investment-scams-protect-investors-online-fraud-sites-926053]\n. It publishes an online warning list of known scams, but Which? says there are\nmany unaccounted for, and they give FCA the slip too easily.\n\nEven more on furlough\nOver 100,000 more companies turned to the furlough scheme\n[https://www.theguardian.com/uk-news/2021/mar/26/employers-claiming-furlough-up-by-more-than-100000-in-january] \nin January, pushing the total relying on the payouts to 858,629. Many other\nbusinesses increased their ask, with pub chains JD Wetherspoon and Mitchells &\nButlers remaining the largest claimants in January.","html":"The 1-minute read to get all the money news plus expert adviser views.
The mega-container ship stuck in the Suez canal is holding up £7 billion of global trade every day - and it could be there for weeks. The Ever Given got lodged earlier this week, causing huge tailbacks. The delayed ships at either end are loaded up with oil, furniture, clothing, and other goods.
We bought slightly more stuff last month, especially garden furniture and DIY supplies. Overall sales volumes rose 2.1% in February - a small bounce from the 8% nosedive we saw in January as the third national lockdown took hold. 36% of all shopping was done online - another record, according to the Office for National Statistics.
The Financial Conduct Authority needs to do more to warn investors about investment scams and fake websites, according to Which?. The number of rogue investing sites more than doubled last year, from 573 to 1,184, and the regulator is struggling to keep up. It publishes an online warning list of known scams, but Which? says there are many unaccounted for, and they give FCA the slip too easily.
![](\"https://multiply.ghost.io/content/images/2021/03/image-17.png\")
Over 100,000 more companies turned to the furlough scheme in January, pushing the total relying on the payouts to 858,629. Many other businesses increased their ask, with pub chains JD Wetherspoon and Mitchells & Butlers remaining the largest claimants in January.
","url":"https://multiply.ghost.io/suez-tailbacks-costing-billions/","uuid":"91d32068-d0a6-4d09-9467-e14fbd40f83e","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"605db1955f52a1003b1db691"}},{"node":{"id":"Ghost__Post__605c55d2c758a3003bde63c9","title":"Pub passports?","slug":"pub-passports","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/411.png","excerpt":"Plus: 95% mortgages return, MasterCard could owe millions.","custom_excerpt":"Plus: 95% mortgages return, MasterCard could owe millions.","created_at_pretty":"25 March, 2021","published_at_pretty":"25 March, 2021","updated_at_pretty":"25 March, 2021","created_at":"2021-03-25T09:20:18.000+00:00","published_at":"2021-03-25T09:40:31.000+00:00","updated_at":"2021-03-25T15:54:21.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nPub passports\nPubs could soon ask to see your vaccine certificate\n[https://www.bbc.co.uk/news/uk-politics-56517486] before pulling you a pint, and\nit might be up to individual pubs to decide their own rules. The idea is\ncurrently under review, along with an option of showing a negative coronavirus\ntest. We’ll find out in May if it’s a goer. \n\n95% mortgages\nThe low deposit lending market is opening up again\n[https://www.telegraph.co.uk/property/buy/boost-first-time-buyers-lenders-launch-95pc-mortgages-without/]\n* a year after most 95% deals were withdrawn. Many big banks have signed up to\nthe government’s mortgage guarantee scheme, which will launch next month. But\nYorkshire Building Society, Bank of Ireland, and Skipton Building Society have\nalready launched their own 95% mortgages, without the government support.\n\nMasterCard owes you £300?\nThis week a court will decide whether to allow a class action against MasterCard\n[https://www.reuters.com/article/uk-britain-mastercard-lawsuit-idUSKBN2BH013]. A\nformer financial ombudsman claims the credit card company overcharged 46 million\npeople over 16 years. If the case goes ahead and is successful, the people\naffected could receive £300 each in compensation.","html":"The 1-minute read to get all the money news plus expert adviser views.
Pubs could soon ask to see your vaccine certificate before pulling you a pint, and it might be up to individual pubs to decide their own rules. The idea is currently under review, along with an option of showing a negative coronavirus test. We’ll find out in May if it’s a goer.
The low deposit lending market is opening up again* a year after most 95% deals were withdrawn. Many big banks have signed up to the government’s mortgage guarantee scheme, which will launch next month. But Yorkshire Building Society, Bank of Ireland, and Skipton Building Society have already launched their own 95% mortgages, without the government support.
![](\"https://multiply.ghost.io/content/images/2021/03/image-16.png\")
This week a court will decide whether to allow a class action against MasterCard. A former financial ombudsman claims the credit card company overcharged 46 million people over 16 years. If the case goes ahead and is successful, the people affected could receive £300 each in compensation.
","url":"https://multiply.ghost.io/pub-passports/","uuid":"8c6d1b79-a54c-4402-b75f-069383ea6ac3","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"605c55d2c758a3003bde63c9"}},{"node":{"id":"Ghost__Post__605b0354563816003bc6b49b","title":"Another staycation surge?","slug":"another-staycation-surge","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/410.png","excerpt":"Plus: TUI shutting shops, inflation drops, banks still funding fossil fuels, and scams on the rise.","custom_excerpt":"Plus: TUI shutting shops, inflation drops, banks still funding fossil fuels, and scams on the rise.","created_at_pretty":"24 March, 2021","published_at_pretty":"24 March, 2021","updated_at_pretty":"24 March, 2021","created_at":"2021-03-24T09:16:04.000+00:00","published_at":"2021-03-24T09:21:45.000+00:00","updated_at":"2021-03-24T09:21:45.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need.\n\nTravel review\nThe government will reveal its report into international travel a week early,\nand expects to give guidance on holidays on 5th April\n[https://inews.co.uk/news/covid-19-restrictions-overseas-holiday-ban-triggers-surge-in-staycations-927462]\n. However, Boris Johnson has warned that rising cases in Europe mean foreign\nholidays look “difficult” for now. The news has fuelled a rush of interest into\nUK holiday bookings, with booking sites enjoying a new surge of enquiries.\n\nTUI shutting shops\nHoliday company TUI is closing another 48 shops\n[https://www.reuters.com/article/uk-health-coronavirus-britain-tui-idUSKBN2BG0V3]\n, on top of the 166 it has already shut over the last year. Many travel firms\nare bracing for a second “lost summer”.\n\nInflation drops\nThe rate of inflation has dipped slightly\n[https://www.cityam.com/uk-cpi-inflation-rate-falls-back-in-february-as-discounted-clothes-offset-rising-petrol-prices/] \ndue to discounted prices on clothing and shoes. The Consumer Price Index\nrecorded a 0.4% increase in February, down from 0.7% in January. Prices usually\nrise at this time of year as the January sales come to an end - but this year,\nprices have been driven down by low demand.\n\nFossil financing\nThe world’s biggest 60 banks are continuing to fund fossil fuel companies\n[https://www.theguardian.com/environment/2021/mar/24/big-banks-trillion-dollar-finance-for-fossil-fuels-shocking-says-report] \nto the tune of $3.8 trillion since the Paris climate agreement in 2015. A report\nfrom a coalition of NGOs reveals that fossil financing is still rising across\nthe world - the opposite of what’s needed to combat climate change. The\nculprits? The US and Canada accounted for over half of the funding, and Barclays\nwas the worst in Europe.\n\nScams on the rise\n£34.5 million has been stolen in scams [about:blank] since the start of the\npandemic, with 6,000 cases of coronavirus-related scams recorded by police.\nInternet shopping scams, which con people into giving over money and bank\ndetails, is up 42%. Bank loan scams are also on the rise, with scammers calling\npeople up pretending to be from their bank.","html":"The 1-minute read to get the money news you need.
The government will reveal its report into international travel a week early, and expects to give guidance on holidays on 5th April. However, Boris Johnson has warned that rising cases in Europe mean foreign holidays look “difficult” for now. The news has fuelled a rush of interest into UK holiday bookings, with booking sites enjoying a new surge of enquiries.
Holiday company TUI is closing another 48 shops, on top of the 166 it has already shut over the last year. Many travel firms are bracing for a second “lost summer”.
The rate of inflation has dipped slightly due to discounted prices on clothing and shoes. The Consumer Price Index recorded a 0.4% increase in February, down from 0.7% in January. Prices usually rise at this time of year as the January sales come to an end - but this year, prices have been driven down by low demand.
The world’s biggest 60 banks are continuing to fund fossil fuel companies to the tune of $3.8 trillion since the Paris climate agreement in 2015. A report from a coalition of NGOs reveals that fossil financing is still rising across the world - the opposite of what’s needed to combat climate change. The culprits? The US and Canada accounted for over half of the funding, and Barclays was the worst in Europe.
£34.5 million has been stolen in scams since the start of the pandemic, with 6,000 cases of coronavirus-related scams recorded by police. Internet shopping scams, which con people into giving over money and bank details, is up 42%. Bank loan scams are also on the rise, with scammers calling people up pretending to be from their bank.
","url":"https://multiply.ghost.io/another-staycation-surge/","uuid":"4a0bce17-83d4-4c7b-9db2-30d3301e4d60","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"605b0354563816003bc6b49b"}},{"node":{"id":"Ghost__Post__6059b2be563816003bc6b482","title":"Lockdown: 1 year on","slug":"lockdown-1-year-on","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/409.png","excerpt":"Plus: employment rate rises, £5,000 fine for foreign holidays.","custom_excerpt":"Plus: employment rate rises, £5,000 fine for foreign holidays.","created_at_pretty":"23 March, 2021","published_at_pretty":"23 March, 2021","updated_at_pretty":"23 March, 2021","created_at":"2021-03-23T09:19:58.000+00:00","published_at":"2021-03-23T09:24:37.000+00:00","updated_at":"2021-03-23T09:25:34.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nLockdown anniversary\nExactly 1 year ago today, Boris Johnson told us to stay at home\n[https://www.bbc.co.uk/news/uk-56491532] for the first time. He’s described the\npast year as “one of the most difficult in our country’s history”. A year on\nsince the start of the first national lockdown, we’ve lost 126,172 people to the\ndisease, vaccinated 28 million people against it, and endured unprecedented\nrestrictions to our freedom.\n\nEmployment rate rises\nThe number of people in work has risen for the third month in a row\n[https://news.sky.com/story/covid-19-payrolled-employment-rises-for-third-month-after-a-year-of-lockdown-misery-for-jobs-12254091]\n, with an increase of 68,000 according to the Office for National Statistics.\nThe rise in employment means there were 200,000 more employees on payroll in\nFebruary than in November. But overall the employment rate is far lower than\nbefore the pandemic, with almost 700,000 people fewer in work than in February\n2020.\n\n£5k holiday fine\nBrits who try to travel abroad before the end of June will be hit with a £5,000\nfine\n[https://www.reuters.com/article/us-health-coronavirus-britain-holidays-idUSKBN2BF0P0]\n, amid concerns over rising cases in Europe. The government is planning to\nreview the rules on foreign holidays - which are currently banned - on 12th\nApril, and might still give jet-setters the green light from 17th May. But if\nnot, the travel fines will stay in place.","html":"The 1-minute read to get all the money news plus expert adviser views.
Exactly 1 year ago today, Boris Johnson told us to stay at home for the first time. He’s described the past year as “one of the most difficult in our country’s history”. A year on since the start of the first national lockdown, we’ve lost 126,172 people to the disease, vaccinated 28 million people against it, and endured unprecedented restrictions to our freedom.
The number of people in work has risen for the third month in a row, with an increase of 68,000 according to the Office for National Statistics. The rise in employment means there were 200,000 more employees on payroll in February than in November. But overall the employment rate is far lower than before the pandemic, with almost 700,000 people fewer in work than in February 2020.
Brits who try to travel abroad before the end of June will be hit with a £5,000 fine, amid concerns over rising cases in Europe. The government is planning to review the rules on foreign holidays - which are currently banned - on 12th April, and might still give jet-setters the green light from 17th May. But if not, the travel fines will stay in place.
","url":"https://multiply.ghost.io/lockdown-1-year-on/","uuid":"c8135504-6ddd-4407-99ac-31beb242a608","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6059b2be563816003bc6b482"}},{"node":{"id":"Ghost__Post__60586347563816003bc6b456","title":"Jab supplies blocked?","slug":"jab-supplies-blocked","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/408.png","excerpt":"Plus: bike sales accelerate 41%, Facebook's working on under-13s Instagram app.","custom_excerpt":"Plus: bike sales accelerate 41%, Facebook's working on under-13s Instagram app.","created_at_pretty":"22 March, 2021","published_at_pretty":"22 March, 2021","updated_at_pretty":"22 March, 2021","created_at":"2021-03-22T09:28:39.000+00:00","published_at":"2021-03-22T09:33:33.000+00:00","updated_at":"2021-03-22T09:33:33.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nVaccine wars\nThe EU has threatened to block exports of AstraZeneca vaccines [about:blank] to\nthe UK, as the row over supplies continues. EU leaders will discuss the possible\nban on Thursday. Boris Johnson is phoning them all individually over the next\nfew days, to make the case for allowing the jabs to make the journey the UK from\na Dutch factory.\n\nBike boom rolls on\nJanuary bike sales rose 41%\n[https://www.theguardian.com/business/2021/mar/21/cycling-boom-rolls-on-amid-struggle-to-meet-uk-demand-during-covid] \ncompared to last year, and bike makers and sellers are struggling to keep up\nwith demand. Last year’s lockdown kicked off a cycling boom, which is showing no\nsigns of braking. Electric bikes and road bikes are most in demand. Servicing\nand repairs are on the up too, with many hauling rusty wheels out of storage.\n\nInstagram for kids?\nFacebook is working on an under-13s version of Instagram\n[https://inews.co.uk/news/business/facebooks-plans-open-instagram-under-13s-spark-concerns-childrens-privacy-923481]\n. Under privacy rules, young children are not allowed to use the regular app.\nThe company describes the app as a “parent-controlled experience”, but Amnesty\nInternational has warned it’s one of the biggest threats to children’s privacy.","html":"The 1-minute read to get all the money news plus expert adviser views.
The EU has threatened to block exports of AstraZeneca vaccines to the UK, as the row over supplies continues. EU leaders will discuss the possible ban on Thursday. Boris Johnson is phoning them all individually over the next few days, to make the case for allowing the jabs to make the journey the UK from a Dutch factory.
January bike sales rose 41% compared to last year, and bike makers and sellers are struggling to keep up with demand. Last year’s lockdown kicked off a cycling boom, which is showing no signs of braking. Electric bikes and road bikes are most in demand. Servicing and repairs are on the up too, with many hauling rusty wheels out of storage.
Facebook is working on an under-13s version of Instagram. Under privacy rules, young children are not allowed to use the regular app. The company describes the app as a “parent-controlled experience”, but Amnesty International has warned it’s one of the biggest threats to children’s privacy.
","url":"https://multiply.ghost.io/jab-supplies-blocked/","uuid":"1230a82a-9228-4de8-be63-7a6a032ee4db","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60586347563816003bc6b456"}},{"node":{"id":"Ghost__Post__60546c08563816003bc6b438","title":"UK keeps borrowing","slug":"uk-keeps-borrowing-2","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/407.png","excerpt":"But less than forecast. Meanwhile, NatWest buys itself back and sports fan could get back to stadiums.","custom_excerpt":"But less than forecast. Meanwhile, NatWest buys itself back and sports fan could get back to stadiums.","created_at_pretty":"19 March, 2021","published_at_pretty":"19 March, 2021","updated_at_pretty":"19 March, 2021","created_at":"2021-03-19T09:16:56.000+00:00","published_at":"2021-03-19T09:22:16.000+00:00","updated_at":"2021-03-19T09:27:32.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nGovernment debt\nFebruary was another record-breaking month\n[https://www.bbc.co.uk/news/business-56453869] for borrowing, as costly pandemic\nsupport measures continued. The government borrowed £19.1 billion last month,\nthe highest for February since records began in the 90s. The public sector is\nspending a lot and has less coming in from income tax, business rates, VAT and\nfuel duty.\n\nLess than forecast?\nTotal borrowing for the year is likely to undershoot official estimates\n[https://www.reuters.com/article/us-britain-economy-idUSKBN2BB0KP]. The\ngovernment deficit (the gap between public income and spending) was officially\nforecast to hit £350 billion. But unless there’s a major surge in March, we’re\nlikely to come in well below that.\n\nNatWest buys itself back\nThe government has sold a £1.1 billion chunk of NatWest\n[https://news.sky.com/story/government-offloads-1-1bn-chunk-of-state-backed-lender-natwest-12250294] \nback to the bank. Taxpayers still own 59.8% of the state-backed bank though,\nafter it was rescued during the financial crisis. The bank, which used to be\ncalled RBS, tends to buy back a tranche of its own shares every few years.\n\nHey, sports fans\nKeen to get back into a stadium? Remember to pack your vaccine passport. Culture\nminister Oliver Dowden has said certification of Covid status and vaccine\nhistory could help facilitate the return of sports events\n[https://www.reuters.com/article/us-health-coronavirus-britain-certificat-idUSKBN2BB0LN]\n, and let big crowds into stadiums again.","html":"The 1-minute read to get all the money news plus expert adviser views.
February was another record-breaking month for borrowing, as costly pandemic support measures continued. The government borrowed £19.1 billion last month, the highest for February since records began in the 90s. The public sector is spending a lot and has less coming in from income tax, business rates, VAT and fuel duty.
Total borrowing for the year is likely to undershoot official estimates. The government deficit (the gap between public income and spending) was officially forecast to hit £350 billion. But unless there’s a major surge in March, we’re likely to come in well below that.
The government has sold a £1.1 billion chunk of NatWest back to the bank. Taxpayers still own 59.8% of the state-backed bank though, after it was rescued during the financial crisis. The bank, which used to be called RBS, tends to buy back a tranche of its own shares every few years.
Keen to get back into a stadium? Remember to pack your vaccine passport. Culture minister Oliver Dowden has said certification of Covid status and vaccine history could help facilitate the return of sports events, and let big crowds into stadiums again.
![](\"https://multiply.ghost.io/content/images/2021/03/image-15.png\")
The 1-minute read to get all the news with expert adviser views.
After a speedy start to the vaccine rollout, there’ll be a drop in the number of jabs available next month. A shipment of 5 million AstraZeneca doses from India has apparently been held up by around 4 weeks. The government says it’ll still hit its targets to offer a first dose to all over 50s by mid April, and all adults by the end of July.
Influencers are in trouble with the advertising watchdog for failing to flag up their sponsored or freebie posts as ads. Social media stars are required to state clearly when they have been paid or given free products. But last year the Advertising Standards Agency found that only 35% of ads Instagram Stories were clearly labelled.
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New rules could weaken the “big 4” auditors and make directors responsible for spotting fraud. After last year’s high-profile collapses of BHS and Carillion, the auditors had the spotlight turned on them. The plans include getting the big guys to share work with smaller firms so they can build expertise to take on the dominant firms: PwC, Deloitte, KPMG and EY.
Donald Trump’s fortune flopped during his presidency, with his hotels, resorts, and office blocks faring badly in the pandemic. Trump’s net worth is now £1.65 billion. He’s currently under criminal investigation into his financial affairs and family business.
WallStreetBets Redditors have adopted 3,500 gorillas and donated £250,000 to a gorilla charity. The online investor community hit headlines earlier this year by “squeezing” GameStop shares and sending share prices skyrocketing. Why gorillas? Fair question. Redditors often refer to each other fondly as “apes”, inspired by the Planet of the Apes movies.
","url":"https://multiply.ghost.io/vaccine-rollout-delayed/","uuid":"ba07f142-3ae6-4b8c-9f5f-8e33d7d3d2a7","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6053137a563816003bc6b423"}},{"node":{"id":"Ghost__Post__6051c3e6563816003bc6b40a","title":"Uber drivers win rights","slug":"uber-drivers-win-rights","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/03/405.png","excerpt":"Plus: automatic energy bill refunds, mortgage costs could rise, £50bn post-lockdown spending spree?\n","custom_excerpt":"Plus: automatic energy bill refunds, mortgage costs could rise, £50bn post-lockdown spending spree?\n","created_at_pretty":"17 March, 2021","published_at_pretty":"17 March, 2021","updated_at_pretty":"17 March, 2021","created_at":"2021-03-17T08:55:02.000+00:00","published_at":"2021-03-17T09:02:18.000+00:00","updated_at":"2021-03-17T09:48:03.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news with expert adviser views.\n\nDriver rights start today\nIn a U-turn, Uber will guarantee its 70,000 UK drivers the right to a minimum\nhourly wage, holiday pay, and pensions. Until last night, it was insisting the\nruling only applied to a small number of drivers. The move takes effect today,\nafter the Supreme Court ruled the company must treat drivers as workers\n[https://www.theguardian.com/technology/2021/mar/16/uber-to-pay-uk-drivers-minimum-wage-holiday-pay-and-pension]\n, rather self-employed “partners”.\n\nEnergy bill refunds\nPeople who overpay for their energy should get an automatic refund [about:blank]\n, according to watchdog Ofgem. Energy companies currently hang on to thousands\nin overpayments, simply adding the cash to customers’ balances as credit. Ofgem\nclaims they hold £1.4 billion surplus, and says the balance should be refunded\nonce a year.\n\nMortgage payments rising?\nA third of homeowners could face higher mortgage costs\n[https://www.cityam.com/uk-borrowers-impacted-by-pandemic-face-rising-mortgage-payments-lg-warns/] \nby going onto their lender’s standard variable rate (SVR) when their current\ndeal expires. Research by Legal & General suggests people are put off\nremortgaging because they don’t want their finances scrutinised. But going onto\na SVR mortgage could add £2,500 a year to repayments.\n\n£50bn spending spree\nBrits plan to spend a quarter of their lockdown savings\n[https://www.theguardian.com/business/2021/mar/17/britons-will-go-on-50bn-spending-spree-when-covid-rules-are-lifted-report] \nonce restrictions lift, according to research by Scottish Friendly. It found\npeople want to spend big on holidays and meals out, and warned the spree could\npush price inflation above 2%. The Bank of England is more cautious; it reckons\nwe’ll only spend 5% of the £192 billion built up in spare cash since March 2020. \n\n£100k pension shortfall\nMillions of over-50s risk running out of money a decade early\n[https://www.telegraph.co.uk/money/consumer-affairs/retirees-face-100k-pension-shortfall-millions-underestimate/]\n* according to a report by Standard Life. 1 in 4 workers over 55 have only\nbudgeted for a 10-year retirement - but most people can expect to live for 20\nyears after stopping work.","html":"The 1-minute read to get all the money news with expert adviser views.
In a U-turn, Uber will guarantee its 70,000 UK drivers the right to a minimum hourly wage, holiday pay, and pensions. Until last night, it was insisting the ruling only applied to a small number of drivers. The move takes effect today, after the Supreme Court ruled the company must treat drivers as workers, rather self-employed “partners”.
People who overpay for their energy should get an automatic refund, according to watchdog Ofgem. Energy companies currently hang on to thousands in overpayments, simply adding the cash to customers’ balances as credit. Ofgem claims they hold £1.4 billion surplus, and says the balance should be refunded once a year.
A third of homeowners could face higher mortgage costs by going onto their lender’s standard variable rate (SVR) when their current deal expires. Research by Legal & General suggests people are put off remortgaging because they don’t want their finances scrutinised. But going onto a SVR mortgage could add £2,500 a year to repayments.
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Brits plan to spend a quarter of their lockdown savings once restrictions lift, according to research by Scottish Friendly. It found people want to spend big on holidays and meals out, and warned the spree could push price inflation above 2%. The Bank of England is more cautious; it reckons we’ll only spend 5% of the £192 billion built up in spare cash since March 2020.
Millions of over-50s risk running out of money a decade early* according to a report by Standard Life. 1 in 4 workers over 55 have only budgeted for a 10-year retirement - but most people can expect to live for 20 years after stopping work.
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