When a bank hits the headlines, it isn’t usually for good reasons. Such is the case for Metro Bank which has found itself the talk of the town. Share prices took a massive dip amid concerns for its future, although the news has improved with a £925m investment package preventing it from collapsing. But, while…
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Tougher measures to support small businesses in battle against late payments
Tougher measures to address late payments to small businesses have been announced by the Government. In 2022, SMEs were owed, on average, an estimated £22,000 in late payments. This can slow down growth with many companies spending disproportionate time chasing payments that can lead to cash flow problems. Small Business Minister Kevin Hollinrake said: “Small…
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Major increase to National Living Wage and its impacts
Two million people will receive a pay rise next year when the National Living Wage increases to at least £11 an hour. It means the annual earnings of a full-time worker on the National Living Wage – currently set at £10.42 an hour – will rise by more than £1,000. It will be welcome news…
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Almost 430k young adults urged to claim their cash
Hundreds of thousands of young adults have an average of £2,000 sitting unclaimed in Child Trust Funds. The long-term, tax-free savings accounts were set up for every child born between September 2002 and January 2011, with the Government contributing an initial deposit of at least £250. Funds can be withdrawn once the account matures when…
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