Existing home-owners and first time house buyers are being offered incentives to finally get themselves onto the property ladder with the launch of the government’s mortgage indemnity scheme. Construction companies and the taxpayer are to be co-guarantors for new properties purchased. The government expects that the NewBuy scheme, which is being supported by Nationwide, Barclays [...]

Individuals buying new homes are to have the opportunity to borrow as much as 95% of the property’s value within strategies the government claims can help to get “Britain building again”. This mortgage indemnity plan, wherein the government would underwrite a portion of the financial risk to loan providers, may help as many as 100,000 [...]

The Bank of England has held interest rates again in spite of increasing inflation having a damaging effect on the spending power of individuals throughout the country. Inflation has jumped by more than double the Bank’s target to 4.5% in the past few months, influenced by the soaring price of vital products including foodstuffs and [...]

The 1.5 million people in the UK that currently claim incapacity benefit will now begin to receive requests for them to be evaluated for their ability to work. These assessments will form a part of strategies to lessen the amount of long-term claimants. During pilot schemes conducted in Aberdeen and Burnley almost 30% of those [...]

The Treasury said a windfall tax levied on oil firms is not going to be handed on to drivers through increased fuel prices. George Osborne introduced the windfall tax on North Sea oil companies in the Budget, he said this will raise £2bn and will pay for the fuel duty reduction. Labour suggested the oil [...]

Chancellor George Osborne has announced that he Government will provide loans to aid first-time house buyers. In the 2011 Budget, the Chancellor explained that a shared-equity initiative would cost £250 million. He said the scheme, First Buy, is going to be accessible to first-time buyers that cannot afford a large deposit to buy a new [...]

The Consumer Prices Index (CPI) 12-monthly inflation rose in February to 4.4%, a rise from 4% in January, leading to renewed speculation of an imminent interest rate hike by the Bank of England. The rise in inflation was powered by increased costs of food, energy and clothing, February’s statistics show the highest level for 28 [...]

The Irish Welfare Information Centre, Digbeth sees the Birmingham Launch of the Irish in Britain Census campaign today. The campaign, headed by the Federation of Irish Societies, has the backing of more than 50 MPs – some of Irish descent, and others that represent constituencies with solid Irish communities. A number of Irish celebrities including [...]

Birmingham binmen may strike again over the ongoing contract and pay dispute, following their rejection of the city council’s most recent offer. Unions claim that around 95% of the 500 employees voted to reject the latest offer. The binmen have staged several strikes as well as working to rule for a number of weeks over [...]

The Business Secretary has launched new steps aimed at encouraging small businesses to enter the export market, as statistics confirmed the UK’s growing trade deficit. Vince Cable reported that the UK consumes too much and exports too little. He said that 4 fresh programmes will be developed to assist companies obtain access to credit and [...]