Credit, Collections & Insolvency News
The Chancellor, Rachel Reeves, has delivered her Spring Statement outlining the Government’s economic plans. The data showed public sector net borrowing set to fall from 4.3% this year, decreasing to 1.8% in 2029–30. The Office for Budget Responsibility lowers growth forecasts to 1.1% for 2026 but upgrades the outlook in 2027 and 2028 to 1.6%.…
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Pubs and music venues in England will be given a 15% discount on their business rates bills from April and will not see increases for two years. It comes after a backlash against November’s Budget, which left many facing major increases in their business rates bills, and led to more than a thousand pubs banning…
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A new report on the DWP, the Public Accounts Committee (PAC) is calling out the unacceptable waits some people face for their Personal Independent Payment (PIP) to be processed, which can cause them to get into debt and push them into poverty. The report cites examples of people waiting over a year for their PIP…
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The Government has announced in a Written Ministerial Statement that the Ministry of Justice will be consulting on how to implement regulation of the enforcement sector. The Government says the review will aim to increase protections for those facing debt enforcement action and raise fees recoverable by bailiff firms. Setting out plans to overhaul to…
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The Government has announced that it is investing £121 million in quantum technology to tackle crime, fraud, and money laundering. The technology will be used to tackle the first signs of fraud and halting money laundering which could save billions for the economy. The funding is being made available over the next year to expand…
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After a tough Budget and Spring Statement for low-to-middle income households, the Government’s Spending Review could brighten a bleak living standards outlook by prioritising spending on services they use the most, according to new research by the Resolution Foundation. The research notes that public services are crucial for quality of life, providing ‘in-kind’ benefits worth…
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New research by Shawbrook has found that only four in ten (40%) feel that SMEs are a high priority to the current Government. The data also showed that 42% of SMEs in the UK feel the incoming NIC hikes are going to negatively impact them. A third (33%) said that the Autumn budget last year…
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A new All Party Parliamentary Group (APPG) report has criticised the Financial Conduct Authority’s (FCA) handling of issues affecting mortgage prisoners. Commenting in response to the report, Leon Diamond, CEO of LiveMore, said “As hard-hitting as the APPG report is, it is a stern reminder to the industry of how serious this issue is for…
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