28th November 2023 - Credit Connect

Families hit by £605 food bill increases in past two years

28th November 2023 Customer Insight and Analytics | #inflation

The average UK food bill has gone up by around £605 over the last two years, as climate and energy costs continue to hit shoppers in their pocket, according to new research for the Energy and Climate Intelligence Unit (ECIU). The report was carried out by researchers from the universities of Bournemouth, Exeter and Sheffield…

Lords calls for Bank of England reform

28th November 2023 Consumer Lending |

The Economic Affairs Committee has published a new report which is calling for the operational independence of the Bank of England to be preserved. The report that reforms are vital to improve its performance; strengthen its accountability to Parliament; and ensure it focuses on its key objectives of tackling inflation and maintaining financial stability. The…

Parents gift children average £109 each at Christmas

28th November 2023 Consumer Collections |

New research by Halifax has found that over three-quarters of parents will give children money at Christmas with their children receiving £109.93 on average. The research found that over three-quarters of parents (76%) make gift giving a touch simpler, by handing over cash at Christmas time with money also gifted on birthdays. The pros and…

Threat of recession has caused 50% of businesses to stop innovating

28th November 2023 Commercial Credit Management | #innovation

Half of UK C-suites (50%) say that the threat of economic disruption has meant innovation has ceased in their business, according to new research from independent consultancy Magnetic. Just 22% disagree, with 28% undecided. This corroborates the 56% who say they’re prioritising the survival of their business above all else; an especially concerning figure when two-thirds…

One in three households will struggle to afford Christmas

28th November 2023 Arrears and Recoveries |

New YouGov polling commissioned by StepChange Debt Charity, which explores people’s finances and borrowing habits, reveals that one in four people will struggle to afford Christmas this year, rising to more than one in three (34%) households with children. The survey also found that. one in twelve (8%), around 4 million people, will be relying…

Dudley Building Society appoints Chief Risk Officer

28th November 2023 Appointments |

Dudley Building Society has announced it has appointed Andrew Turvey as its new Chief Risk Officer. Turvey has previously worked for a number of banks and building societies, most recently Vida Homeloans. He is currently a data standards committee member for the Bank of England and has also previously worked at the Financial Conduct Authority. In…

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