Property Rescue Blog

The rate of unemployment in the UK continues to rise, with 2.47 million UK residents unemployed as of April.

New tax rules regarding Capital Gains Tax will hit higher rate tax payers particularly hard.

The Office for National Statistics (ONS) has reported an unexpected fall in the UK industrial output in April. Rather than increasing by 0.4%, which was expected, industrial output fell by 0.4% from March.

As part of the new Budget, there will be new limits to Housing Benefits, which has been significantly reduced. The maximum level will now be £400 per week, which is only for properties having three or more bedrooms.

Part of the new Budget includes a two-year pay freeze for those working in the public sector. This will affect all workers earning more than £21,000 per year.

Spending related to the World Cup is credited with giving UK retail sales a boost in May.

New restrictions on benefits for expectant mums and new parents are poised to make raising children significantly more expensive.

The Pension Protection Fund (PPF) reported a significant increase in the collective deficit of the private sector’s final salary pension schemes in the UK. By the end of May, the collective deficit of the 7,300 PPF-monitored schemes expanded to £42 billion, which is a huge increase over the £2 billion deficit reported in April.

UK residents can expect to see many changes as the government undertakes its reforms. One of the first reforms includes a change in the pension age, which is scheduled to go from 65 to 68.

The College and University Support Network have been fielding more calls from higher and further education lecturers of late, largely due to existing funding crisis.