Family finances

MPs press Treasury to abandon ‘absurd’ inflation measure | Business – Business Article

The government is coming under intense pressure to either abandon or fix the “grossly unfair” retail prices index inflation measure, which MPs say is penalising students and rail passengers. In a rare combined letter from parliamentarians in the House of Commons and the House of Lords, RPI was described as “absurd” and its continued use was labelled “a ridiculous merry-go-round”. In the letter sent to the head of the UK Statistics Authority, John Pullinger, the House of Commons Treasury select…

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Calls for regulator to ensure access to cash after bank IT failures | Business – Business Article

The government is facing calls for a new regulator to protect consumers’ access to cash, following several bank IT failures and thousands of cash machine and branch closures across the UK. The consumer group Which? said cash is still a necessity for more than 25 million people in the UK. It also noted the combined closures of cash machines and branches have left people struggling to pay for essential goods and services. The charity is campaigning for the creation of…

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Millennials’ pay still stunted by the 2008 financial crash | Money – Business Article

Millennials who entered the job market during the financial crisis are still suffering “scarring” effects on their earnings as they enter their mid-30s, making it even harder for them to cope with the economic pressures of having a family, a leading thinktank has warned. Their pay has suffered by far the biggest squeeze of any age group since the 2008 crash, according to a study by the Resolution Foundation. While the wages of the over-50s have recovered to levels above…

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UK wages worth up to a third less than in 2008, study shows | Business – Business Article

Wages are still worth a third less in some parts of the country than a decade ago, according to a report. Research by the Trades Union Congress (TUC) found that the average worker has lost £11,800 in real earnings since 2008. The UK has suffered the worst real wage slump among leading economies, the union organisation said. The biggest losses have been in areas including the London borough of Redbridge, Epsom and Waverley in Surrey, Selby in North Yorkshire and…

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Tax return 2019: a stress-free guide to tackling it | Money – Business Article

The weather may have turned arctic, but frostbitten fingers won’t get you out of doing your tax return. HM Revenue & Customs has issued a list of the most bizarre (and unsuccessful) excuses it received from customers who missed last year’s self-assessment deadline. They included “My boiler had broken and my fingers were too cold to type”. If you have been putting off the day when you have to gather up all your bits of paper and sit down and…

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