23rd October 2026 - Credit Connect

Low pay stops falling for the first time in 15 years

23rd October 2026 Consumer Collections | #low pay

The share of workers on low pay failed to fall for the first time in 15 years, and in fact rose slightly last year, the Resolution Foundation has said in response to the ONS Annual Survey of Hours and Earnings (ASHE). ASHE is a large ONS survey of businesses and provides valuable detail on earnings…

HMRC making progress on tackling tax debt

23rd October 2026 Consumer Collections | #HMRC debt #tax

HM Revenue and Customs (HMRC) has had success in reducing tax debt as a proportion of tax receipts for three consecutive years, while managing significantly more new debts since the pandemic, according to a new report by the National Audit Office (NAO). Taxpayers owed a total of £43.8 billion in tax debts at the end…

Financial complaints rise by 6.3%

23rd October 2026 Consumer Lending | #complaints #financial services

Latest data from the Financial Conduct Authority (FCA) has shown a 6.3% rise in complaints. Financial services firms reported 1.85 million complaints between January and June 2026. 54.8% of complaints were upheld and £240 million was paid out in redress, Current accounts remained the most complained-about product. Commenting on the data, James Towner, Chief Growth…

Three quarters of mid-sized businesses feel overlooked by Government

23rd October 2026 Commercial Credit Management | #budget #business

Britain’s mid-sized businesses continue to feel overlooked ahead of the Autumn Budget, with more than seven in ten (71%) saying it is hard to find support tailored to their scale. The research, published as part of specialist lender Shawbrook’s M Agenda insight series, shows the proportion of firms struggling to access tailored backing has risen…

Third of households have skipped meals because of financial pressures

23rd October 2026 Arrears and Recoveries | #financial pressures

More than a third (36%) of households in Britain with an annual income of less than £40,000 have skipped meals or eaten less because of financial pressures in the last three months, according to the latest Vanquis Financial Wellbeing Index. Over the same period, more than a quarter (27%) have delayed medical or dental treatment…

Consumer confidence weakened in October

23rd October 2026 Commercial Credit Management | #consumer confidence #economy

British consumers’ confidence in the state of the economy fell from minus 32 to minus 40 this October, according to the British Retail Consortium’s (BRC) consumer index, marking the third consecutive month of deteriorating sentiment. Expectations for personal finances also fell from minus 15 to minus 18 this month, with expectations for personal spending on…

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