Category: Banks and building societies

City minister accused of ignoring £2bn car finance tax loophole

Critics say banks will be able to avoid tax on compensation payouts to victims of £11bn loans scandalThe City minister, Lucy Rigby, has been accused of snubbing taxpayers after she appeared to brush off concerns about a...

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Lending to small businesses and low-income areas must expand, say Labour backbenchers

Senior politicians have tabled bill that would force UK banks to make affordable finance more accessibleSenior Labour backbenchers are urging the government to introduce legislation forcing UK banks to expand affordable lending...

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Reeves’s plan to cut cash Isa limit could raise mortgage rates, say finance bosses

Building societies fear consumers will be put off from saving if chancellor’s budget announces a 40% reductionBusiness live – latest updatesRachel Reeves’s plan to slash the annual cash Isa limit by 40% could...

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UK pension savers urged not to withdraw cash due to budget ‘fear and rumour’

Financial experts express alarm after jump in sums people taking out of retirement pots amid ‘jitters’ about taxOlder savers should avoid making rash decisions about their pension cash based on “fear and...

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Rachel Reeves’ ‘save less to invest’ policy could be brilliant for ordinary Britons – or a disaster | Hilary Osborne

People know about savings. But investing in stocks and shares? Not so much. Ministers have a duty to be clear about the benefits and risksHilary Osborne is the Guardian’s money and consumer editorWithout wanting to sound...

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Isa shakeup: How can Rachel Reeves nudge savers into buying stocks and shares

All you need to know, from investment pros and cons to what changes are on the table and how best to take advantageRachel Reeves wants Britons to put more of their spare cash into shares to help them get better returns, support...

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Bank of England rolls out looser mortgage rules to help first-time buyers

Move hopes to push lenders to offer more high loan-to-income mortgages and help 36,000 buyers on to the housing ladderBusiness live – latest updatesThe Bank of England has rolled out looser mortgage rules that policymakers...

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Holiday spending: eight ways to save money and cut card costs

From debit and credit cards, to using hard cash, plan ahead to avoid paying more than you need toWhen packing for your summer holiday, don’t forget to pay attention to your plastic. Pick the wrong card to use abroad and...

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