Key Quotes - Money

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Last update: Wednesday 25th March




One million children belong to families in England who are getting into debt to pay for school uniforms, a study by the Children’s Society has found. The charity’s report the wrong blazer 2018, published last week, says that 13 per cent of parents surveyed were getting into debt over paying for school uniforms, up from seven per cent in its 2015 report.
Money	Church Times – 31st August 2018



Couples raising two children while working full time on minimum wage fall £49 short of a no-frills lifestyle, according to Child Poverty Action Group’s Cost of a Child report.
Money	Youth and Children’s Work – October 2018



According to a new report the Treasury will lose more than £100m for each year that it postpones the cuts on Fixed Odds Betting Terminals (FOBTs). Earlier this year, after calls from politicians and charities (including CARE), the Government announced that it would slash the stake on the controversial betting machines from £100 to £2 per spin. Research has shown that FOBTs are often clustered predominantly in deprived areas, their presence deliberately targeting vulnerable people. The machines have also been linked to crippling debt, marriage and family breakdown and serious mental health issues.
Money	CARE - 19th September 2018



The Queen’s annual expenditure soared by around 13% as a decade-long programme of renovations began at Buckingham Palace. The taxpayer funds received by the monarchy to pay for official duties and other expenditure – the Sovereign Grant – rose from £41.9 million to £47.4 million, with payroll costs, travel and property maintenance all increasing compared with the previous year.
Money	The Sentinel – 28th June 2018



The UK motor industry has warned that uncertainty over Brexit negotiations is “holding us back” as new figures show investment has been slashed by nearly half so far this year. Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders, claimed contingency planning, job losses and investment cuts are “the price we pay for slow decision-making. It’s ominous.”
Money	The Sentinel – 27th June 2018



Bank and building society branches are closing at an “alarming” rate of nearly 60 per month, according to Which?. The consumer group said analysis showed that between the start of 2015 and the end of 2018, 2,868 branches have closed or are scheduled to do so – averaging just under 60 per month. Which? collected bank branch closure data by tracking closure announcements.
Money	The Sentinel – 15th June 2018



£3bn is saved by the NHS every year thanks to the church and faith groups providing services for vulnerable people, according to a new study by the Cinnamon Network.
Money	Christianity – July 2018



The number of self-made millionaires selling goods on eBay has increased by 300 in the past year, a study shows. The list of top businesses include home furniture and DIY, car parts, clothes and computers. There are now more than 1,000 so called eBay millionaires in the UK.
Money	The Sentinel - 16 May 2018



Between 1948 and 2010, the NHS budget rose, on average, four per cent above inflation. Austerity has limited that to 1.2 per cent, even though inflation is higher in medicine than elsewhere. All this come at a time when the population is ageing, and demand for health care is consequently rising. In 1948, life expectancy for men was 66, and for women 71. Today, it is 79 and 83 respectively.
Money	Church Times - 15th June 2018



Brexit has knocked real household incomes by around £900, the Bank of England governor has said.
Money	The Sentinel - 23rd May 2018



More than a million married couples who are eligible to receive the marriage tax allowance have yet to claim it, according to HM Revenue and Customs.
Money	CARE Impact Direct - 6th July 2018



Four-fifths (80%) of the Post Office Travel Money’s top 40 best-selling currencies are now weaker against sterling than a year ago. Sterling’s biggest year-on-year gains have been against the Turkish lira and the Russian ruble.
Money	The Sentinel - 19th April 2018



Three out of 10 hospitals charge staff for car parking, new figures show. Doctors and nurses are expected to pay at 348 out of the 1,175 hospitals with parking facilities, according to NHS data. The highest average charge for staff is £2 per hour at both Edgware Community Hospital, London and Birmingham Children’s Hospital, analysis by motoring research charity the RAC Foundation revealed.
Money	The Sentinel - 9th April 2018



One in three adults struggle with basic maths tasks such as working out change on a shopping trip, according to new study. It suggests that adults in England and Northern Ireland perform worse on everyday numeracy tasks than those in many other countries.
Money	The Sentinel - 15th March 2018



Wage growth is set to outpace inflation this year and rise at its fastest rate since the 2008 financial crisis, according to a Bank of England survey. Private sector companies are expected to raise average pay by 3.1% in 2018, marking a jump from the better-than-expected 2.6% rise in 2017.
Money	The Sentinel - 15th February 2018

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