Key Quotes - Money

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Last update: Wednesday 25th March




British Gas parent Centrica was expected to post half-year profits of around £880 million today as millions of its customers reel from a record high in gas bills. The UK’s biggest domestic energy supplier, which has 15.9 million customers, has been forced to pass on soaring wholesale gas prices after first raising bills in January. Yesterday, the group upped gas bills by a mammoth 35 per cent, with electricity prices up 9 per cent, This takes annual dual fuel payments to £1,317. £404 above the beginning of the year.
Money	The Sentinel - July 31st 2008



Water firm United Utilities is to pump an additional £2 million a year into its fund for struggling customers. The company, which manages water and wastewater distribution in the north east of England, will now donate a total of £5 million per annum to the charity. It will go towards helping families with serious financial problems, giving them a one-off chance to clear debts.
Money	The Sentinel - August 5th 2008



As belts tighten could fair trade shopping be squeezed? Sales of goods bearing the Fairtrade brand have seen huge growth, jumping from £286m to £500m in two years. Some 70% of the UK population now recognise the Fairtrade mark, so mainstream has it become. The Department for International Development said earlier this year it was doubling to £1.2m, it’s commitment to help expand Fairtrade labelling across Europe.
Money	Life and Work – September 2008



Household bills are rising, recession is looming, and families are bunkering down in a wartime mood. One survey found 59% of consumers saying that rising food prices were making them “more cautious” in their shopping habits, with 15% taking matters into their own hangs by starting to grown their own vegetables.
Money	Life and Work – September 2008



House prices are falling at their fastest rate for almost 18 years as potential buyers stay away from the market. The average cost of a home in the UK has dived by 10.5 per cent during the 12 months to the end of August, the biggest drop since 1990, according to Nationwide Building Society. The rate at which property values are sliding also sped up during the month, with prices falling by a further 1.9 per cent in August, falling drops of 1.5 per cent and 0.9 per cent in July and June.
Money	The Sentinel - August 28th 2008



The UK’s largest pension schemes have plunged deep into the red as a result of the credit crunch and market volatility, a report today indicated. Retirement plan funding for FTSE 100 companies showed a deficit of £41 billion in mid-July compared to a £12 billion surplus a year earlier, according to figures from consultancy firm lane Clark & Peacock (LCP).
Money	The Sentinel - August 6th 2008



Consumers facing higher gas and electricity bills were warned that the era of cheap energy is over. Business Secretary John Hutton said there was “genuine concern” about the difficulties for families faced with soaring heating bills this winter, adding that the Government was looking at what extra support it could provide. But he warned against creating a climate that would make it harder for the UK to attract new investment for nuclear power, renewables and clean coal technology. His comments, in an interview with the Daily Telegraph, come as Prime Minister Gordon Brown faces demands to impose a windfall tax on the energy firms.
Money	The Sentinel - August 28th 2008



Students face the most expensive academic year to date. The Student Price Index found that the inflation rate for undergraduates is almost seven per cent, compared to the Consumer Price Index of 4.4 percent. Students spend more on items which have risen in price fastest, such as food and drink, clothing, tobacco, personal care products, housing and travel.
Money	The Sentinel – August 18th 2008



Personal debt in the UK is higher than the income generated by the country as a whole for the second year running, research has shown. The total owed by consumers through mortgages, loans and credit cards rose by 7.3% to stand at £1.444 trillion. But during the same period gross domestic product (GDP) rose by only 5.1% to £1.41 trillion. As a result it would take until January 8, 2009, to pay off the UK’S consumer dept from GDP during a calendar year.
Money	The Sentinel - August 22nd 2008



Almost a quarter of the population will be in fuel poverty by next year and those on low incomes will be especially badly hit, new figures today showed. A report published by the National Housing Federation shows that by the end of 2009 5.7 million UK households will be spending at least 10 per cent of their annual income on energy bills – an increase of 100 per cent since 2005. The research, entitled Energy Prices and Debt, written by IPA Energy and Water Economics, says around 5.7 million people will be in fuel poverty by 2009, compared with around 3.8 million in 2007 and 2.4 million in 2005. It says annual electricity bills are expected to increase to over £500 each year and gas bills to around £900 by 2010.
Money	The Sentinel – September 8th 2008



Prisoners could be charged less for phone calls after the phone regulator criticised the price of calls. Ofcom found prisoners paid much more in state-run prisons than in privately- run institutions. It also found British Telecom, which runs phones in prisons in England and Wales, was making a “relatively high return” on its investment.
Money	The Sentinel - September 23rd 2008



One in three Britons cannot afford to put aside any savings for their retirement, new research suggests. A survey of 6,381 people showed half of respondents were not saving enough for a comfortable life after work. The survey is part of a report by life insurer Scottish Widow. Almost 60 per cent of those surveyed said they would not be able to increase their savings over the next year
Money	The Sentinel - 30th June 2008



Lloyds TSB launched a drive today to try to reunite customers with £69 million which is sitting in unused accounts. The bank has appointed specialist search agency Tracesmart to track down the holders of more than 120,000 savings accounts, current accounts and commercial accounts that have not been touched for 15 years.
Money	The Sentinel- June 18th 2008



Lloyds TSB launched a drive today to try to reunite customers with £69 million which is sitting in unused accounts. The bank has appointed specialist search agency Tracesmart to track down the holders of more than 120,000 savings accounts, current accounts and commercial accounts that have not been touched for 15 years.
Money	The Sentinel - June 18th 2008



Four out of 10 people say their finances are now tight following jumps in the cost of living, a survey showed today. Around 39 per cent of people said that while they were managing to get by, things were “pretty tight,” up from just 25 per cent who felt this way in 2006. Also, the proportion of people who admitted they were really struggling financially has doubled.
Money	The Sentinel - July 23rd 2008

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