BUSINESS

Rocketing interest rates will bring the era of the cheap money to a swift end, and it’s going to turn our world upside down. Just nine months ago, bank rate stood at 0.1 percent. Soon, it could hit 6 percent. It’s going to be an almighty shock. Here are five things that will change. House prices

Alongside the Energy Price Guarantee, from today the Government is also launching the Energy Bills Support Scheme which was brought in by former Chancellor Rishi Sunak earlier this year. The £400 Energy Bills Support Scheme will be paid in six monthly instalments from October to March next year and the discount will be applied automatically

The bank is also encouraging people not to be rushed into making a snap decision and to hang up the phone and call their bank using the number on the back of their card. Many Britons reported receiving a scam email recently purportedly from Santander, which features the bank’s red and white logo. The fake

Between three to four years, the gifts will be taxed at a rate of 32 percent and between four to five years, it will be taxed at 24 percent. If the person dies between five to six years after the gift it will be taxed at 16 percent and between six to seven years it

Emily Seymour, energy editor at consumer magazine Which?, shared some tips on how reduce bills from electrical appliances, including vacuuming the fridge. She urged people to be mindful of the consumption of everyday appliances around the home, as they can use a lot of energy. Speaking on BBC Radio 5 Live, she said: “The first

Another Twitter user @ladyv74766704 said: “I use the prepaid service for my medications and saved over £300 in one year” According to MoneySavingExpert.com, over one million people missed out on savings by not having a PPC in 2020-21. Before purchasing a PCC, Britons are urged to check if they are entitled to free prescriptions anyway

According to the Department for Work and Pension (DWP) one of the most underclaimed benefits is Attendance Allowance and around 3.4 million pensioners are estimated to be missing out on this extra cash boost each month. Attendance allowance helps with extra costs if someone has a disability severe enough that they need someone to help

“When someone wants to book, they can get in touch through the Peerspace platform, tell me about their project and I can decide whether to accept the booking.” The flat is situated within a large detached Victorian house, which features two working fireplaces, in the living room and master bedroom. Anna rents out the property

The bank will buy £5 billion worth of bonds every day for 13 weekdays. In an announcement, the bank said: “Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability. “This would lead to an unwarranted tightening of financing conditions and a reduction of the flow

Thousands of Carer’s Allowance Supplement payments were made in June and the next one is due in December. This year’s supplement payments are worth £245.70 each and the latest figures from Social Security Scotland show that 81,680 payments were made to carers who were eligible in April 2022. The supplement is paid to people in

As Britons wait, experts have weighed in on what the country needs from the upcoming landmark announcement. Jane Mackay, National Head of Tax at leading audit, tax, advisory and risk firm Crowe UK, Mr Kwarteng’s “mini-budget” caused a turbulent economic environment. She told Express.co.uk that the UK needs “certainty” as pressure mounts on the Chancellor

Liz Truss and Kwasi Kwarteng are set to meet the Office for Budget Responsibility (OBR) Chair Richard Hughes on Friday to discuss the economic outlet. But the Government got a boost ahead of the meeting as the pound is up to the highest level against the US dollar since the mini-budget at 1.12. Ahead of

Around eight million Britons will be monitoring their bank accounts to see if the second half of their £650 Cost of Living Payment has arrived, worth £324. We have just received the latest DWP update on this. That is not the only one-off DWP support pensioners are due to get this winter. In total, a

Parents are spending up to £1,300 annually on childcare costs, according to new research. On average, households have seen their costs rise £110 per month, with the typical nursery in London and the South East now charging around £300 a week. As a result, parents have opted into falling into debt to survive, but people

The Ofgem energy price cap will increase tomorrow, although Prime Minister Liz Truss has intervened with a price cap “freeze”. Despite this, thousands of people are still grappling with debt and the prospect of not being able to pay their bills. One consequence of this is being placed onto a prepayment meter, requiring Britons to

Harry Kind, Which? consumer rights expert, explained one of the “best things” people can do in order to keep their bills down. With temperatures dropping, and energy bills set to rise, many people may be wondering how to keep the house warmer for longer periods. “They are the best things since sliced bread when it comes

Prime Minister Liz Truss urged Britons to check the Government website to see what type of income support they may be entitled to. She tweeted: “We are facing difficult economic times globally. We must put this country on a trajectory for long-term growth whilst maintaining fiscal discipline. “Cutting taxes will boost investment, creating jobs and opportunities

Martin Lewis has called the current mortgage crisis “perverse” and “unprecedented” and shared his suggestions on what people on standard variable mortgage rates and fixed rate deals coming to an end can consider. The Money Saving Expert founder warned Good Morning Britain viewers that rates could increase massively over the next year.  Speaking on the

With temperatures dropping, and energy bills set to rise, many people may be wondering how to keep the house warmer for longer periods. By taking into account these small suggestions, people may be able to make big changes. The “secret” to keeping the house warm is “insulation,” an expert explained. Jean Graham, consumer energy expert

Why has the Bank stepped in? The Bank has announced plans for a temporary programme to buy gilts, effectively stepping in to provide a backstop in the market and halt a sell-off. It made the move after the yield – or interest rate – charged on long-dated gilts soared to levels not seen for many