The Resolution Foundation has predicted that the coronavirus crisis will see Britain’s 15-year squeeze on household incomes prolonged, with pay cut by £1,200 annually within the next four years.  The Foundation’s report ‘Here Today, Gone Tomorrow ‘shows that the Covid crisis is causing immense damage to the public finances and permanent damage to household finances…

Specialist home credit provider Morses Club, says its revenue increased by 14.3% to £133.7 million (FY19: £117 million) in its preliminary results for the 53 weeks ended 29 February 2020. The listed business also reports a statutory pre-tax profit of £11.5 million (FY19: £20.2 million). Total credit issued to Home Collected Credit (HCC) customers was…

As consumers prepare for one of the biggest shopping days of the year, Cifas, the UK’s leading fraud prevention service, is warning shoppers of the dangers of online fraud. With a large proportion of the UK still in lockdown, online sales are expected to soar this Black Friday as shoppers look for bargains on the…

The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has announced Baroness Tyler of Enfield as its new President. Baroness Tyler takes over the role from Baroness Coussins who will remain involved with the charity as an Ambassador. Otto Thoresen, author of the ‘Thoresen Review’ into financial advice that led to…

Women approaching retirement are facing a confidence conundrum: they are the most anxious about being able to afford a comfortable retirement yet are the least likely to consider alternative funding options to plug the gap. A new report published by the Equity Release Council (the Council) and finance specialist, Key, titled The Pension / Property…

The Institute of Directors (ioD) has welcomed the reinstatement of a key insolvency protection for company directors, the suspension of liability for so-called ‘wrongful trading’, through a statutory instrument laid before parliament. In June, the Government introduced emergency coronavirus legislation to facilitate a time-limited suspension of director liability for ‘wrongful trading’ applying from 1 March…

Late payments have escalated since the onset of the coronavirus pandemic, according to the latest UK Payment Practices Barometer by trade credit insurer Atradius.. The new report reveals that nearly half the value of Business to Business (B2B) bills are being paid late, while half of the businesses surveyed have been hit by revenue loss…