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Joseph Rowntree Feed

  • Will the cap fit for children in poverty?
    Fri, 03 Feb 2012 10:51:27 +0000
    pAs the dust begins to settle on the a href=http://services.parliament.uk/bills/2010-11/welfarereform.html target=_blankWelfare Reform Bill/a, were left wondering what this means for child poverty./ppMany of the measures that will lead to more children living in poverty by 2013-14, according to a a href=http://www.ifs.org.uk/publications/5973 target=_blankreport from the Institute for Fiscal Studies/a, have been announced in Budgets and Spending Reviews rather than in the Bill itself. These include freezes in Child Benefit and levels of Working Tax Credit, and the decision to uprate benefits by the Consumer Price Index, rather than the Retail Price Index./ppBut perhaps the most contentious proposal in the Bill, the benefit cap that will impose a £26,000 limit on the annual receipt of benefits received by out-of-work families, has often been debated in terms of its impact on the poorest children./ppFor proponents of the cap, and a href=http://www.guardian.co.uk/politics/2012/feb/01/coalition-overturns-welfare-reform-amendmentsas Chris Grayling argued/a in the House of Commons, the proposal embodies the idea that out-of-work families should not receive more in benefits than the average family earns through wages. This, a href=http://www.publications.parliament.uk/pa/ld201212/ldhansrd/text/120123-0001.htm#12012312000907 target=_blankas Conservative peers suggested/a in the House of Lords, will help to tackle the poverty of aspiration that they argue leaves too many families out of work, and in poverty./ppFor the caps opponents, the proposal fails to recognise that nearly all families would already be a href=http://www.leftfootforward.org/2011/05/lib-dem-opposition-to-george-osbornes-benefit-cap/ target=_blankbetter off in work than claiming out-of-work benefits/a, due to the impact of in-work subsidies, including tax credits. They say it risks a href=http://www.housing.org.uk/publications/find_a_publication/legislation/household_benefit_cap.aspx target=_blankincreasing family homelessness/a, with knock-on effects on the wellbeing of children in families that are affected./ppThe debate has made much of the distinction between in work and out of work families, with the cap clearly applying only to the latter. But what has been less discussed on either side of the debate is that these two groups are often made up of the same people ? just at different points in time./ppThe a href=http://www.dwp.gov.uk/docs/household-benefit-cap-wr2011-ia.pdf target=_blankimpact assessment/a for the cap shows that the largest group of those affected, those on Jobseekers Allowance, have mostly been out of work for less than a year. And a href=http://www.jrf.org.uk/publications/recurrent-poverty-family-labour-market-changesJRF research has clearly shown the low pay no pay cycle/a that still affects many families; while chronic poverty only affects 10 per cent of the poor population, and 3 per cent of the population as a whole, poverty at some point affects 30 per cent of the population./ppThe a href=http://www.jrf.org.uk/sites/files/jrf/poverty-social-exclusion-assessment-full.pdf2011 Monitoring Poverty and Social Exclusion/a report for JRF showed that over half of all children living in poverty now have at least one parent in work: whether or not the benefit cap proves an incentive for more parents to move into employment, its clear that this wont be enough on its own to tackle poverty./p
  • I cant live, if living is without integrated care
    Thu, 02 Feb 2012 16:50:55 +0000
    pI wouldnt normally open up my heart on the JRF blog. But I need to get this off my chest./ppAt points last year, it felt like I was in an intense and troubled affair. With the Health and Social Care Bill, that is./ppAt the start of our liaison we spent every waking hour together. I used to stay up late, learning its every clause. I wouldnt stop talking to my friends about it. I even introduced it to my parents. /p!--?p--!--?p--pThen things went sour. I started flirting with other Bills. The sexier Localism Bill, the mysterious Welfare Reform Bill, the mature and academic Education Act. The a href=http://www.bbc.co.uk/news/health-13600151Listening Exercise/a came and went. We grew apart./ppEventually, as the a href=http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_127443 target=_blankFuture Forum/a reported, I decided it was the end of the road. The Strategic Health Authority of our love was abolished, and the GP Consortia of All By Myself took its place. We went our own ways, and havent seen each other since./ppUntil now. Because the Health Bill is back. For the past six months, it slipped off the political radar. But its returning as a dominant political theme. Its started creeping into mainstream news again, and into the a href=http://blogs.telegraph.co.uk/news/tomchiversscience/100134154/lansleys-nhs-bill-is-unnecessary-incomprehensible-and-possibly-illegal-other-than-that-its-great/ target=_blankscribings of the commentariat/a/ppLike unexpectedly bumping into an ex, Ive been startled by its return. And do you know what? It hasnt changed, really. Ive moved on, but its the same old Health Bill. Still bringing on the biggest reshuffle of the NHS since its inception. Still worrying the Conservatives with its a href=http://blog.itv.com/news/tombradby/2012/02/a-tale-of-two-conflicts/ target=_blankpotential to damage the party brand/a/ppCrucially, its still not really grappled with integrating health care and social care. For all that we argued about the need for integration ? dont so many young lovers? ? it still hasnt been resolved. We still dont really know how social care is going to look, and how it fits in with the re-organised NHS./ppMaybe Im being harsh. This spring, theres going to be a Social Care White Paper. Its a chance for things to be patched up, I suppose. Maybe it deserves a second chance./ppBecause theres one thing I really would welcome back into my life: policy that genuinely integrates health and social care./ppLets hope this isnt the end of the affair./p
  • The benefit cap: What do we know about large families?
    Wed, 01 Feb 2012 13:57:36 +0000
    pIn discussions about benefits, it helps to understand exactly who were talking about./ppYou may have noticed there was a row over the planned £26,000 cap on benefits last week. The Department for Work and Pensions says 90,000 adults and 220,000 children will be affected. Theyre likely to be large families. But what do we actually know about large families in the UK? I used the Labour Force Survey to answer our top three questions about large families in the UK./ppstrongWho are they?/strong/ppAsian or Asian British and black or black British families are most likely to be large: 16-17% of families in these groups have three or more dependent children. Some 9% of mixed-heritage families are large households whereas only 6-7% of white or Chinese households have three or more dependent children./ppemstrongProportion of large families (3 or more dependent children) by ethnicity, UK, 2010/strong/em/ppimg src=http://www.jrf.org.uk/sites/files/jrf/aleks-chart1.JPG border=0/ppstrongWhat do large families do for a living?/strong/ppThe chart below shows the relationship between large families and class, and ignoring the diverse group on the right, is broadly U-shaped with a lower proportion of large families in intermediate and lower supervisory or technical occupations./ppemstrongProportion of large families (3 or more dependent children) by socio-economic classification, UK, 2010/strong/em/ppnbsp;/ppimg src=http://www.jrf.org.uk/sites/files/jrf/aleks-chart2.JPG border=0/ppstrongWhere are the large families?/strong/ppRegional analysis shows Northern Ireland has the highest proportion of large families. Following this, London. This is hardly a surprise but it is good to see the hard evidence. Regions with the lowest proportion of large families are Scotland, the North East and the South West./ppstrongemProportion of large families (3 or more dependent children) by UK country/English region, UK, 2010/em/strong/ppimg src=http://www.jrf.org.uk/sites/files/jrf/aleks-chart3.JPG border=0/ppWe can break down the data further and look at it by local authority. Tower Hamlets stands out as having the highest proportion of large families. Tamworth, Newham, Luton, Blackburn (with Darwen), Bradford, Daventry, Harborough, Oadby and Wigston, Barking and Dagenham, Westminster, Stevenage, East Northamptonshire and Birmingham all have at least 12% of families with three or more dependent children./ppNone of this solves the argument about the merits or problems of the benefit cap. But it does help us to understand exactly who we?re talking about when were discussing it./p
  • Flooding report adds heat to climate change debate
    Tue, 31 Jan 2012 16:06:01 +0000
    pClimate change is a hot topic in the news this week./ppLast Thursday the Government published its first a href=http://www.defra.gov.uk/environment/climate/government/risk-assessment/climate change risk assessment for the UK/a (UKCCRA), highlighting concerns for the natural and built environment, agriculture, forestry, business, transport and other sectors. Today the Public Accounts Committee published a report on a href=http://www.publications.parliament.uk/pa/cm201012/cmselect/cmpubacc/1659/165902.htm target=_blankflood risk management in England/a/ppThe extent of the climate change challenges we face is brought into even sharper focus by this new evidence. Flooding is arguably the most pressing concern. With 5 million people already at risk of flooding and annual flood damage costs estimated at over £1 billion, it is increasingly urgent that we think about how best to protect people in future./ppThere are several issues to consider./ppFirst we need to improve our understanding of a href=http://www.jrf.org.uk/focus-issue/climate-changewhich people and places are most at risk/a. While the UKCCRAs analysis of social vulnerability is still in its infancy, two important reports published by JRF help to identify who is vulnerable to the impacts of climate change and what action is needed./ppA report from the Universities of Dundee and St Andrews examines the poorly understood issue of a href=http://www.jrf.org.uk/publications/pluvial-flooding-invisible-hazardpluvial flooding/a ? surface water flooding caused by heavy downpours and problems with urban drainage systems./ppThe work highlights that socially deprived areas are at slightly higher risk of pluvial flooding than other areas, particularly people who rent in those areas. While climate change will increase the risks, three times more people will be at risk from pluvial flooding by 2050 because of national population growth./ppA second report ? by a team led by John ONeill at Manchester University ? identifies who might be most a href=http://www.jrf.org.uk/publications/climate-change-justice-and-vulnerabilitydisadvantaged by river flooding and heatwave risks/a. It highlights the need to consider peoples ability to prepare for, respond to and recover from extreme weather, alongside the more obvious aspects of vulnerability such as a person?s health, age and where they live. For example:/pulliOlder people living alone in high rise flats are particularly vulnerable to heatwaves./liliPeople living in a high crime area may be unwilling to open their windows or leave their house to cool down. /liliLow income affects peoples ability to take precautionary measures against flooding, including buying insurance. /liliPeople who dont have social networks that can provide support and a safety net in times of trouble./li/ulpWe need to do more to ensure that these communities are protected. Insurance can provide an important safety net, but as the risks of flooding increase, and the cost of payouts for floods mounts up, there are growing questions about how insurance will be delivered in the future./ppThe issue is becoming more pressing ? the current agreement between Government and industry to provide household insurance, based on maintaining certain levels of flood risk and defences, comes to an end next year./ppJRF wants to ensure that a href=http://www.jrf.org.uk/work/workarea/climate-change-and-social-justicesocial justice/a is considered in any future insurance regime. We need to ensure that households get appropriate protection and that areas do not become blighted because household insurance is unavailable or prohibitively expensive./ppWe will soon be publishing a paper that sets out the principles at stake and how best to address the issue. In spite of the current economic context, we hope we can encourage policy-makers and insurance providers to address flood protection in the longer term, manage the costs and benefits nationally, and take account of the needs of the most vulnerable groups in society./p
  • Whats the impact of local authority spending cuts on poorer people and places?
    Fri, 27 Jan 2012 10:45:01 +0000
    pDo we have any idea of what the impact of spending cuts actually is, or what it might be in future?/ppWe know that local authorities (LAs) are among the most significant casualties of public spending cuts in the UK. And the range of local services facing cuts is potentially very wide: housing, schools, social services, youth work, community centres, street cleansing and refuse collection, to name but a few. A new study published by JRF takes the first systematic look at the a href=http://www.jrf.org.uk/publications/serving-deprived-communities-recessionimpact of early spending cuts, with a particular focus on the needs of poorer people and places/a/ppThe evidence here suggests that reductions in local government provision will be felt very differently in different parts of England. The analysis shows that:/pulliThe most deprived LAs will be hit hardest: these have lost the most spending power, especially in the first year, while some affluent areas have experienced only mild cuts initially. /liliAttempts to absorb cuts through efficiency measures have not been enough to stave off significant reductions in spending on services./liliThe impact of service reductions will fall most heavily on disadvantaged people: this is largely because their greater reliance on the broad range of public services compared with affluent households who have the capacity to access other forms of provision./li/ulpInterviews with senior LA executives revealed different approaches to managing budget contractions. One common difference was between authorities who favoured a client- or community-targeted approach, and those who resisted a targeted approach in favour of a focus on service sustainability and equity. Another common difference was between those who managed cuts via a decentralised or neighbourhood management approach, and LAs whose approach to managing cuts was not spatial./ppOverall, the study concluded that there was no guarantee that the needs of disadvantaged residents or communities would be given special consideration by councils as they managed their budget reductions ? in fact, many LAs lacked the capacity to analyse and therefore understand the true impact of cuts on poor people and places./ppBy 2014 a a href=http://www.jrf.org.uk/work/workarea/living-through-austeritymuch larger systematic study/a from JRF will examine how local authorities manage spending cuts. One aim is to provide local authorities with the tools they need to understand the impacts of their spending reductions ? an important and so far largely neglected area of research. The impact of service cuts on the poor and the vulnerable will depend on how far services vital to their well-being can be protected, and how well these services are designed, targeted and delivered./p
  • How to cut taxes for people on low incomes?
    Thu, 26 Jan 2012 17:04:52 +0000
    pNick Clegg a href=http://www.dailymail.co.uk/news/article-2091898/Nick-Clegg-Abolish-income-tax-10k-23m-ease-pressure-families.htmlrepeated his calls/a for raising the income tax allowance today. Handily enough, we were discussing this at JRF just the other day. So here are two quick points.nbsp;/ppFirst, in 2010, we funded a Demos report, called a href=http://www.demos.co.uk/publications/goodworkHow to Cut Taxes for Low Income People/a. This may be of interest, particularly for anyone wondering how to cut taxes for low-income people.nbsp;/ppSecond, the conversation at JRF was partly about what counts as a straightforward idea. The appeal of raising the income tax allowance lies partly in its simplicity ? £10,000 is a nice, neat number at which you start paying tax.nbsp;/ppExcept, by its nature, tax is complex.nbsp;/ppTo give a fuller discussion, heres an extract from 2011s a href=http://www.jrf.org.uk/publications/minimum-income-standard-uk-2011Minimum Income Standards/a report:/pblockquote class=inlinepAnother way to look at living wages would be to consider how much a family would need to earn, before any intervention by the state, in order to provide for their needs. This would show the extent to which employers are covering needs. In the case of a single person, without having to pay tax or national insurance contributions, the earnings requirement would be around £12,600 rather than £15,000 ? implying a wage requirement of £6.42 an hour, only 49p more than the minimum. For a single-earner couple with two children, who at the MIS level must pay more tax than they get back in benefits and tax credits, the requirement without these transfers to and from the state falls from £31,600 to £26,100. Where both are working and the couple uses childcare, the requirement remains the same at £36,800 (that is, taxes and benefits/tax credits balance out). A lone parent using childcare receives much more from the state than is given back, and the parent would need £24,300 rather than £18,200 were it not for these transfers./ppSome critics of the role of the state argue that this shows that lower taxes for people on low incomes would reduce the need for tax credits and make it easier to link a living wage to the behaviour of employers rather than the state. However, under an individual system of taxation, the principle of not taxing people whose incomes are below an acceptable minimum would also require substantial tax cuts for many people whose households are well above the minimum. For example, a couple with two children, with each partner earning £18,400, paying for full-time childcare, gets almost exactly as much back from the state as they pay in tax and national insurance contributions, and this family is able to cover its minimum costs exactly. In theory, they could achieve the same result with no transfers to or from the state, but this would require the tax allowance for everybody to rise to £18,400, necessitating huge increases in tax rates or cuts in spending. The only way to avoid this would be to switch to a family rather than individual basis for taxation./p/blockquotepDepending on what you think the purpose of tax is, you can probably react to that in different ways. This debate will rumble on, and I think its a good thing that we?re talking about tax in an explicitly pro-poor way. But at the very least, we do need to understand we?re dealing with a complex beast./p
  • Equity release - new research
    Wed, 25 Jan 2012 14:05:41 +0000
    pWould you draw on the value of your home to finance a better quality of life in old age?/ppA a href=http://www.jrf.org.uk/publications/equity-release-pilot-schemesnew JRF report assesses three equity release pilot schemes/a, aimed at asset-rich, cash-poor older home owners. Pilots ran for 18 months in three local authorities (London Borough of Islington, Maidstone County Council and Royal Borough of Kensington and Chelsea)./ppJRF?s interest in equity release goes back many years to an a href=http://www.jrf.org.uk/sites/files/jrf/9781859354612.pdfOlder Peoples Inquiry/a into a href=http://www.jrf.org.uk/sites/files/jrf/authorities-supporting-older-people-summary.pdfthat bit of help/a. We knew three things:/polliolder people put a high value on low-level support;/liliit can be hard to get this given rising eligibility criteria;/lililarge numbers of older homeowners living on low incomes had significant housing assets./li/olpSo, might equity release be a potential or partial solution for some?/ppWe funded a href=http://www.jrf.org.uk/sites/files/jrf/1939.pdfresearch into the obstacles/a, and then convened a a href=http://www.jrf.org.uk/sites/files/jrf/equity-release-plans-summary.pdfTask Force to work out how to tackle them/a. Through this, one major equity release provider (a href=http://www.justretirement.com/Just Retirement/a) stepped forward to develop a new product enabling smaller drawdowns of money in a way that would not have an adverse impact on benefits (DWP-approved). A regulated financial adviser (a href=http://www.justretirement.com/jrs/?id=amp;epslanguage=enJust Retirement Solutions/a) agreed to offer objective advice at a lower cost than usual for a pilot period. And the three local authorities agreed to pilot signposting to the new product./ppAs a href=http://www.communitycare.co.uk/Articles/25/01/2012/117941/council-staff-reluctant-to-signpost-clients-to-equity-release.htmCommunity Care reports today/a, the number of enquiries was small. This partly reflects reluctance or uncertainty felt by local authority staff about promoting equity release. In contrast, a much larger number of enquiries have been made via a href=http://www.ageuk.org.uk/products/products/financial-products--services/Age UK Enterprises/a and a href=http://www.firststopcareadvice.org.uk/First Stop Advice/a following the national roll-out of the Home Cash Plan in November 2010 (during the pilot period). What does this say about how to achieve relevant financial advice and information about ageing, planning, care and support?/ppThere are continuing uncertainties about equity release generally ? despite heavy regulation and clear codes of conduct led by a href=http://www.ship-ltd.org/SHIP/a (the equity release trade body). But there are also signs that perceptions are changing ? with a href=http://www.mortgagefinancegazette.com/equity-release/equity-release-sees-first-year-of-growth-in-four-years/analysis reported yesterday/a bya href=http://www.keyrs.co.uk/ Key Retirement Solutions/a of the first growth in the equity release market for four years./ppOf interest, trends in use of equity release are:/pollihome improvements;/lilidebt consolidation;/liliholidays./li/olpThey are not yet used to pay for low-level support or for care./ppSo, is the Home Cash Plan a commercially viable product albeit with a limited market? Or a financial product that is ahead of its time?/ppOne last word: to thank all those who led, delivered and supported the pilots in the local authorities and the equity release industry - for foresight, leadership, and readiness to share learning openly through this JRF-funded study./p

FT.com - Your Investments

  • Fidelity backs fund charges shake-up
    Mon, 30 Jan 2012 22:54:34 +0000
    Fund manager joins calls for transparent retail investment charges in attempt to 'restore trust' and end 'hyperbolic, inconsistent comparisons'
  • Volatile stocks test trend funds
    Fri, 27 Jan 2012 18:08:02 +0000
    Failure of trend-following funds to react to the recent market rally has led some to question their effectiveness

Citywire Money, Tax and Property

  • Mansion tax: a terrible, unworkable idea
    Wed, 25 Jan 2012 11:58:02 Z
    Vince Cable?s plan to impose a tax on properties worth more than £2 million is impractical, unethical and cowardly, argues Linton Chiswick.
  • Rents fall again ? even in London
    Fri, 20 Jan 2012 00:01:00 Z
    High tenant demand and limited supply, however, mean it won't be long before rents resume their upward march.

BBC Business News

  • China issues EU carbon tax 'ban'
    Mon, 06 Feb 2012 01:55:04 GMT
    China tells its airlines not to pay charges to the EU's Emissions Trading Scheme, aimed at cutting carbon emissions.
  • Greek leaders pause bailout talks
    Sun, 05 Feb 2012 21:01:42 GMT
    Party leaders in Greece's ruling coalition end talks on details for a crucial 130bn-euro EU rescue plan without agreement.
  • PM urged to cut wind farm subsidy
    Sun, 05 Feb 2012 15:15:53 GMT
    More than 100 Conservatives are among MPs who have written to the prime minister calling on him to slash subsidies for onshore wind turbines.
  • Government to oppose rail bonuses
    Sun, 05 Feb 2012 13:46:54 GMT
    Transport Secretary Justine Greening says she will vote against bonuses for senior Network Rail executives at the company's annual general meeting.
  • Work contacts 'cut dropout rate'
    Sun, 05 Feb 2012 00:37:36 GMT
    The more young people come into contact with employers the less likely they are to drop out of school and become unemployed, research suggests.
  • VIDEO: Your Money: Tips on money management
    Sat, 04 Feb 2012 18:09:48 GMT
    In this week's Your Money, Declan Curry looks problems with pensions, considers the benefits of credit unions and gets some top tips on how to manage your money.
  • High Streets bid for £1m funding
    Sat, 04 Feb 2012 11:35:58 GMT
    The government is looking for 12 run down High Streets in England to share £1m as a part of plans proposed by TV retail guru Mary Portas.
  • England players go unsold at IPL
    Sat, 04 Feb 2012 09:28:59 GMT
    Seven England players and Ireland batsman Kevin O'Brien fail to attract bids at the Indian Premier League auction.
  • Annuity sales 'unfair and opaque'
    Sat, 04 Feb 2012 00:01:34 GMT
    The way annuities are sold is costing half a million retirees each year as much as £1bn in future pension income, the National Association of Pension Funds says.
  • New Virgin staff pay for checks
    Fri, 03 Feb 2012 23:53:12 GMT
    Virgin Atlantic is forcing successful job applicants to pay for their own criminal record checks, Radio 4's Money Box reveals.
  • Work programme on track: Grayling
    Fri, 03 Feb 2012 23:33:18 GMT
    Around 20% of unemployed people who have been on the government's main welfare-to-work scheme, the Work Programme, for at least 6 months have been found a job, the BBC has learnt.
  • US job numbers show strong growth
    Fri, 03 Feb 2012 21:45:26 GMT
    The US economy created 243,000 jobs in January, while the unemployment rate fell to 8.3%, official figures show.
  • 'Most' Portuguese unions back cuts
    Fri, 03 Feb 2012 18:11:23 GMT
    Most Portuguese unions back the government's structural reforms, the Portuguese economy minister, Alvaro Santos Pereira tells the BBC.
  • Apple overturns Motorola's ban
    Fri, 03 Feb 2012 16:10:08 GMT
    Apple is granted a suspension of a sales ban imposed on some of its iPads and iPhones in Germany.
  • Score draw in TV football case
    Fri, 03 Feb 2012 15:30:27 GMT
    The Premier League and the importers of foreign satellite TV decoder boxes and cards are both claiming victory after their latest court battle
  • VIDEO: RBS chairman defends Hester bonus
    Fri, 03 Feb 2012 13:46:08 GMT
    The chairman of the Royal Bank of Scotland (RBS), Sir Philip Hampton, has defended his decision to award a bonus to chief executive Stephen Hester.
  • 1.1 million face £100 tax fines
    Fri, 03 Feb 2012 13:44:16 GMT
    Just over one million taxpayers face a penalty of £100 for failing to submit their self-assessment tax returns on time, HM Revenue and Customs says.
  • 'Sale and rent back' closed down
    Fri, 03 Feb 2012 12:54:29 GMT
    The sale and rent back industry has been almost completely closed down, says the Financial Services Authority.
  • RBS boss calls for pay correction
    Fri, 03 Feb 2012 12:40:08 GMT
    The chairman of 82% taxpayer-owned Royal Bank of Scotland (RBS) says banker pay has been "high for too long" and needs to be corrected.
  • VIDEO: RBS boss: Banker pay too high
    Fri, 03 Feb 2012 11:36:01 GMT
    RBS chairman Sir Philip Hampton says chief executive Stephen Hester was 'entitled' to a near-£1million share bonus, which he later turned down.
  • VIDEO: Tett: Don't blame just the bankers
    Fri, 03 Feb 2012 11:30:52 GMT
    The woman credited with foreseeing the financial crash claimed people love to bash the bankers but they were not the only ones to blame.
  • Hungarian airline Malev collapses
    Fri, 03 Feb 2012 11:21:06 GMT
    Hungarian airline Malev ceases trading after 66 years after being ordered by the EU to repay state aid it has received.
  • Personal insolvencies 'down 11%'
    Fri, 03 Feb 2012 11:09:00 GMT
    Fewer people were declared insolvent in 2011 in England and Wales than in 2010, but the number of companies going bust increased.
  • Service sector sees strong growth
    Fri, 03 Feb 2012 11:01:06 GMT
    The UK's service sector grew at its fastest rate since March 2011 in January, according to a closely watched survey.
  • Eurozone service sector growing
    Fri, 03 Feb 2012 09:47:52 GMT
    The eurozone's service sector grows for the first time in four months, although Spain and Italy continue to struggle.
  • Panasonic predicts a record loss
    Fri, 03 Feb 2012 07:11:05 GMT
    Japanese electronics giant Panasonic forecasts a record net annual loss of $10bn for the year to March.
  • UK recession looms, says report
    Fri, 03 Feb 2012 00:02:24 GMT
    The UK will enter recession in the first half of the year as households continue to cut back, says the National Institute of Economic and Social Research.
  • Olympics 'boosting' Scots tourism
    Thu, 02 Feb 2012 19:26:28 GMT
    Tourist bookings for visits to Scotland around the time of the London Olympics are rising, it is claimed.
  • Cold front ad for Mini backfires
    Thu, 02 Feb 2012 12:49:50 GMT
    An advertising agency for BMW pays to name Europe's cold weather "Cooper" in Germany, after the firm's Mini Cooper car, but the stunt backfires.
  • UK download speed gains 'uneven'
    Thu, 02 Feb 2012 00:02:49 GMT
    Ofcom reports a 22% gain in the UK's average broadband download speed between May and November, but not all ISPs improved.

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