Key Quotes - Money

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Last update: Wednesday 25th March




The economic downturn is making Britons mean, with people ignoring friends’ birthdays and refusing to buy rounds in the pub, a survey has claimed. A third said they no longer bought rounds of drinks and one in four had given up buying presents. Others admitted they shunned leavers’ collections at work and no longer sent flowers to say thank you, in the poll of 5,010 people carried out by Moneysupermarket Vouchers during April.
Money	The Sentinel- 19 June 2009



An amnesty for long-term illegal immigrants could be worth up to £3 billion for the UK’s economy, a report said yesterday. A study by the London School of Economics estimated there are 618,000 illegal immigrants living in the UK, with 71% living in London. A five-year residency plan might see 67% eligible to stay. Only 111,265 have been deported in 10 years since 1998, costing the UK £11,000 a person.
Money	The Sentinel- 16 June 2009



Thousands of would-be Indian investors were taken in by a man claiming to have divine powers that could magically triple their investments within a fortnight. Ashok Jadeja from Gujarat is now on the run with a fortune reported to run into millions. The homeopathic doctor fooled his victims by invoking a local deity, claiming she had the power to triple money.
Money	The Sentinel- 19 May 2009



One of Ireland’s top bankers was pelted with eggs as hundreds of angry shareholders voted to pump billions of taxpayers’ money into the institution. Dermot Gleeson, chairman of Allied Irish Bank, ducked to avoid the missiles just moments after addressing a meeting in Dublin. Pensioner Gary Keogh threw two eggs at Mr Gleeson.
Money	The Sentinel– 14 May 2009



The recession has caused three quarters of UK adults to rethink their core values and reconsider the meaning of life, but hardly any have turned to the church, according to Christian Research. In a survey of more than 2,000 adults, 70 per cent said they were searching for meaning because of the credit crunch, or worries about personal finances or job security, but just three per cent had said they had considered going to church.
Money	Christianity- May 2009



Benefit overpayments are continuing to rise, with the outstanding debt owed to the Department of Work and Pensions (DWP) hitting a record £1.8 billion, the Whitehall spening watchdog said. The National Audit Office said although the DWP managed to recover £272 million in 2007-08, it was outstripped by the £558 million made in overpayments.
Money	The Sentinel – 1 May 2009



Fast food and pub workers are having their pay cut as new legislation on holidays squeezes employers’ profits, according to a new report today. The rising of statutory holidays to 28 days a year from last month, had “heavily affected” some firms, it was claimed. Income Data Services said that around two out of five of the biggest fast food and pub employers had decided to offset the impact by cutting pay for bank holidays to standard hourly rates.
Money	The Sentinel – 5 May 2009



Taxpayers in Stoke-on-Trent pay almost the lowest average income tax of all the top 100 UK towns and cities, according to new research. City residents paid an average of £2,450 per taxpayer in the last tax year – just over half the average income tax contribution of £4,333. It leaves the city at no. 98 in the chart. The higheast average income tax is paid by people of St. Albans at £10,500 last year. Stoke-on-Trent taxpayers earn an average of £17,800 while the UK averasge income is £24,292. The figures are based on statistics provided to accountancy firm UHY Hacker Young by HM Revenue and Customs.
Money	The Sentinel – 27 April 2009



The UK’s recovery from recession is still a year away and will be ‘’slow and fragile’’ the CBI business group warned today. The slowdown should ease in the second half of this year but only return to growth in spring 2010, it said. The Ernst of young ITEM club, which bases its forecasts on the Treasury's own economic model, also predicted a spring 2010 recovery but a tough road ahead as unemployment soars past three million.
Money	The Sentinel-20 April 2009



More firms have been freezing pay while average rises at companies awarding increases were falling, according to new research out today. A study of 110 settlements by pay analysts IDS showed that one in ten involved in wage freezes, while many firms, especially those in the motor industry, were postponing decisions on pay. Average increases in the three months to February were 3.4%, down by 0.1% from the quarter to January.
Money	The Sentinel - 2nd April 2009



The recession will be longer lasting in Britain than in any other major economy, according to the International Monetary Fund(IMF). An analysis predicts that the UK will be among the worst hit this year. It suggests that the global economy will shrink by 0.6 per cent in 2009, compared with 3.8 per cent in Britain.
Money	The Sentinel - 18th March 2009



National Lottery grants for sport, arts and heritage projects have more than halved while administration costs have soared, according to new figures. Grants to the three key areas peaked in 1997-8 but fell by more than 50 per cent in the decade which followed. In the same period, administration costs have more than doubled.
Money	The Sentinel - March 24th 2009



Figures are today set to reveal the measure of inflation used in wage negotiations turned negative for the first time since 1960 last month. Economists are predicting that Retail Prices Index (RPI) inflation – key for private sector wage deals and pension payments – will have plunged from 0.1 per cent in January to –0.7 per cent in February. This is the first negative reading since March 1960.
Money	The Sentinel - March 24th 2009



Council taxpayers in England are facing a 3.5 per cent rise in their bills this spring as the recession hits town hall revenues, the local Government Association (LGA) warned today. The LGA said that the projected increase would be the lowest for more than a decade, despite the pressure on council budgets. The increase is below the Government’s preferred CPI rate of inflation, which is currently running at 4.1 per cent.
Money	The Sentinel – 19th January 2009



British Gas today said it was cutting the price of its standard tariff by 10 per cent. The energy supplier said the reduction would come into force on February 19 and would affect 7.5 million homes. It estimates the cut will save customers £79 on the average annual gas bill.
Money	The Sentinel - 22nd January 2009

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