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Drop in public sector borrowing shows deficit reduction remains on-track


Public sector net borrowing dropped £1.3bn in September to £14.1bn, whilst the monthly budget deficit narrowed marginally to £11.9bn, the Office for National Statistics shows.


Government group launched to simplify financial services


‘Simple’ financial products are being developed by government with help from financial industry experts, in order to make it easier for the UK consumer to navigate the complex web of financial services offered.


MiFID II must offer business financial security


The European Commission are to revise the MiFID (Markets in Financial Instruments Directive) scheme intended to curtail speculative, fast-paced trading in the derivatives market, offering consumers greater protection.


Interest rate low sees variable-rate mortgage holders save £2,600


1.8 million mortgage holders whose fixed rate deals have come to an end are currently on their lender’s reversionary variable rate, research published on Thursday by the Council of Mortgage Lenders shows.


G20 ministers agree on financial consumer protection principles


Financial ministers from G20 member states have reached a set of agreements intended to strengthen trust and confidence amongst consumers in the financial sector.


EU financial regulation damages crucial UK growth, warn CBI


Heavy-handed regulation coming from Europe could do serious damage to the UK’s professional and financial services sector, which is crucial for jobs and growth, the CBI’s Director-General John Cridland said last night (Thursday).


Stock market dives slash 30% from pension incomes


Recent equity falls are bolstering the gilts market, driving up the cost of purchasing an annuity and pushing down pension incomes.


Quantitative easing will make matters worse, argue think tank


The Bank of England yesterday voted through a £75billion cash injection into the UK economy in a move that has been widely praised by business organisations considering the move to be a necessary boost to business confidence at a time of worsening economic crises.


Factory gate inflation edges higher


Producer prices inflation crept up again over September, with output prices showing particularly marked increases.


IoD tax paper response: let small businesses use 'cash accounting'


The Institute of Directors today publishes its response to the Office of Tax Simplification’s discussion paper “A simpler income tax system for the smallest businesses”.