Key Quotes - Money

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Last update: Wednesday 25th March




Young people are turning the tables on old habits and saving for the future. A new breed of "young and determined savers" has set its sights on economic prosperity as pensions plummet, house prices rocket and education grows more expensive by the day, according to a National Savings and Investments survey. The NS&I survey found young people across the country are facing up to the reality of the tough financial climate with determination and are leading the way as the nation's best savers.
Money	Sentinel Sunday – 12th December 2004



Hospital consultants have been overpaid to the tune of nearly £300,000, it was revealed today. The top medics received the cash by mistake at the Royal Hampshire County Hospital in Winchester, Hants, over several years. The unnamed doctors are now in negotiations with health managers to discuss how to pay back the £290,000 given to them in the form of a bonus called distinction points.
Money	The Sentinel – 24th November 2004



Government policies to raise people out of poverty are successful in the short-term but offer no guarantees of a lifetime of financial security, according to research published today..Such long-term problems in the Government's social policies could have a major impact on pensions and pensioner poverty in years to come, the report's authors warned. The study also found that parents who are saving to avoid poverty in retirement could be increasing their children's risk of poverty.
Money	The Sentinel – 24th November 2004



A quarter of Britons would get rid of copper coins for good, rounding up or down to the nearest 5p, according to research published today. Some 5.3 million of us admit to throwing small coins away, the survey for Prudential found.
Money	The Sentinel – 1st December 2004



Thousands of people will be offered £40 a week to get them off benefits and back to work. The cash incentive is being introduced in Staffordshire to tackle the county's "sick note culture" and help to fill unwanted job vacancies. It forms part of a plan to help incapacity benefit claimants return to the workplace and overcome illness ranging from back pain and angina to mental health problems.
Money	The Sentinel – 3rd December 2004



The country's biggest union has urged the Government to increase the minimum wage from the current £4.85 to £6.50 an hour. Unison said the rate had risen at a snails pace since it was introduced at £3.60 an hour in 1999.
Money	The Sentinel - 15th November 2004



Britain is in the grip of the fear of a compensation culture, fuelled by unregulated claims companies that use aggressive advertising to raise and prey on false expectations, according to the Government. Particular concern was expressed about distasteful advertising in hospitals that encourage patients to bring frivolous claims against doctors.
Money	The Independent - 11th November 2004



Men are putting off fatherhood because of money worries, according to research by Virgin Life Insurance. By 2030 the average man could be over 50 before he felt ready to start a family.
Money	The Sentinel - 12th November 2004



Wealthy townies moving to the country are snapping up farmland and forcing up prices, according to figures published. The average price of farmland is now close to £10,000 a hectare, a rise of 30% in the last 12 months.
Money	The Sentinel - 12th November 2004



Household debt in the UK is set to explode in the next 10 years with devastating consequences. The debt mountain will rise from £1 trillion to £1.6 trillion over the next decade, according to Skipton Building Society.
Money	The Sentinel - 28th October 2004



Total outstanding student debt in the UK rose 18.7% to just over £14.6bn last year according to a study by the Royal Bank of Scotland. Students graduate owing an average of £12,000, up from £6,000 when Labour came to power, and one in 10 students owe above £15,000. About 40% of students will work part time to earn some extra cash.
Money	Christianity - October 2004



The Average retirement age is currently 62.Alan Johnson, the Secretary of State for Pensions, yesterday acknowledged the problems the Government faced in coping with the twin effects of an ageing population and lower than expected stock market values. He admitted the Turner report was likely to present some "stark choices", adding "We estimate that between 8 and 13 million people are either under-saving or might want to save more. Half the population do not even work up to pensions age."
Money	The Independent – 11 October 2004



The basic salary for an MP is £57,485 a year but they are paid a huge amount more in allowances, expenses, perks and pensions. These extras, including the cost of running a constituency office, work out at £119,908 per MP. That figure relates to 2002/03, and will have risen.
Money	The Independent – 21 October 2004



Millions of the poorest people in Britain are facing a benefit increase of just 50p a week, the smallest rise in their payments for at least 30 years. Millions of claimants of Job-seeker's Allowance (JSA), Housing Benefit and Income Support will see payments go up by just 1% next year; thanks to the operation of a government formula. The increase is the lowest since at least 1974, and less than a third of the 3.1% inflation rate. The decision has echoes of the row five years ago when a similar formula delivered a rise of just 75p a week in the state pensions, forcing the Government into a U-turn.
Money	The Independent – 25 October 2004



The gap between the pay of women and men is wider than previously thought and has not narrowed as quickly as previous figures suggested, new research revealed today. Pay analysts Incomes Data Services, (IDS), said the gap between average hourly earnings of full-time male and female workers is 19.5%.
Money	The Sentinel - October 20 2004

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