Government to hunt down ‘callous’ benefit fraudsters in new £600m crackdown that should save £2bn May 19, 2022 A new crackdown on benefit fraud should save the taxpayer £2bn over the next three years. A £600m plan is to be unveiled by the Government. The plan will involve 2,000 trained specialists reviewing two million universal credit claims over the next five years. DWP officers will also be bolstered with new powers, including to [...]
Brexit red tape onslaught deepens as UK economy loses £47bn because businesses drown in cross-border tax complexities May 18, 2022 Cross-border tax complexities cost the UK economy £47.6bn in lost revenue last year, an average revenue loss of 16 per cent on total EU exports, according to fresh industry data shared with City A.M. this morning. The stresses of navigating complex regulations post-Brexit continues to hold back growth for UK exporters, and is causing significant [...]
London average hits £440k: First-time buyers in for a shock as house prices for newcomers rise £24 per day May 18, 2022 While celebrities can often be seen splashing millions of pounds on their first homes, the average first-time buyer (FTB) is spending £223,751 on their first property. In fact, the average FTB needs to find £43,623 more than they did in 2016 to secure their first own property, a 24 per cent increase, according to data [...]
The Elizabeth line effect: House prices along Crossrail skyrocket by as much as 215 per cent May 17, 2022 With the initial launch of Crossrail imminent, it has emerged that postcodes with stations due to benefit from Crossrail (CR) have seen house prices increase by up to 215 per cent since the project was first announced, carrying a 14 per cent premium versus the wider areas. Postcodes home to a Crossrail station have seen [...]
Burned Out? Here Are Great Companies To Move To May 17, 2022 Burnout is nothing new – many of us have experienced it at work at some stage, and it is so real that the World Health Organisation has classified it as an “occupational phenomenon” in its International Classification of Diseases. A term that is a bit newer, but probably still pretty familiar, is the concept of [...]
Exclusive: FTSE100 companies grossly overestimate their performance on diversity, equity and inclusion May 17, 2022 Nearly two years on from the BLM protests, companies of all sizes are failing to enact the cultural and operational changes that they promised at the time. An audit of the FTSE100 by agility firm Agility in Mind found that despite almost all (99 per cent) having an inclusive mission statement, less than half (48 [...]
Fewer unemployed people than job vacancies: Jobless rate lowest since 1974 with 121,000 more Brits on payrolls May 17, 2022 The number of UK workers on payrolls rose by 121,000 between March and April to 29.5m, the Office for National Statistics said this morning. It means Britain’s jobless rate has fallen to its lowest level for over 47 years but workers have seen their pay fall further behind rocketing inflation, according to official figures. The [...]
Are you suffering from re-entry syndrome? How to cope with post-COVID anxiety May 17, 2022 | City Talk Information and support to help you cope with anxiety brought on the post-pandemic return to ‘normal’. The heights of the COVID-19 pandemic and the associated periods of lockdown were extremely difficult for many people. From health concerns to money worries and loneliness, a range of issues placed pressures upon our mental wellbeing. Whilst COVID hasn’t gone [...]
Exclusive: UK business loans written off by banks almost double to £356m as insolvencies quadruple May 16, 2022 The value of UK business loans written off by banks nearly doubled in the last quarter of 2021, rising 87% from £190m in the third quarter to £356m in the fourth quarter. Debt advisors told City A.M. this afternoon that write offs of loans have been subdued throughout the Covid crisis but are now rising [...]
Enough is enough: Employers are running out of steam on ability to hike pay or make well-paid job offers May 16, 2022 Close to half of UK employers report having vacancies that are hard-to-fill, and almost two thirds anticipate problems filling vacancies in the next six months. The most common response made in the past six months by employers with hard-to-fill vacancies has been to increase pay, according to new research from CIPD, the professional body for [...]
