Credit, Collections & Insolvency News
The Bank of England’s latest Financial Stability Report which sets out the Financial Policy Committee’s (FPC) agenda has urged banks to remember the pressures consumers and businesses still face despite the rapid rollout of a Covid-19 vaccine. The FPC also said that while businesses and individuals have emerged largely stable from the pandemic, there are…
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New research by the TUC (produced by Landman Economics) has revealed that over a million children of key workers are currently living in poverty. The research, which used the government definition for key workers, found that in some regions more than a quarter of children in key worker households are living in poverty. Key worker…
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Around 10% of Scottish construction companies and sub-contractors could close by the end of 2022 following the expiration of Covid-19 supports, a construction sector restructuring specialist at Azets has warned. With The Corporate Insolvency and Governance Act 2020 introducing a number of temporary measures which are due to end on 30th September 2021, to provide protection for…
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New National Fraud Database figures have revealed a surge of identity fraud with an 11% increase in the first six months of 2021 with patterns of fraudulent conduct similar to the aftermath of the 2008 financial crisis are being repeated as the economy recovers from the pandemic. Cifas’ new Fraudscape report has indicated that the…
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One in three people (34%) think their parents will need paid-for care later in life according to research by Opinium. When asked whether their parents could afford it, 45% said they had enough in savings, and 30% said they would have to sell the house to pay care bills while almost one in ten (9%)…
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Consumer spending figures from Barclaycard show that activity in June was 11.1% higher than in the same month of 2019. Barclaycard said spending on fuel, hotels, resorts and accommodation all grew for the first time since the pandemic began. Spending at pubs and bars rose by 38.1% as customers opted to watch big sporting events,…
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New research from Hitachi Capital Business Finance has revealed that the percentage of small businesses predicting they will contract or scale down has hit its lowest level since the pandemic struck the UK and that there are now signs of bullish recovery from troubled sectors such as hospitality, leisure and retail for the summer months.…
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