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Older state pensioners across the UK are set to receive a weekly payment increase from the Department for Work and Pensions (DWP) in April next year.The boost comes thanks to the triple lock which is used to determine how much State Pension rates increase at the start of each new tax year. The new April rates are set based on whichever is highest out of three factors – known as the ‘triple lock’. These are the consumer price index (CPI) measure of inflation (measured for September in the previous year), average wage growth between May and July of the previous year, or 2.5%.Under the triple lock guarantee, pensioners are currently on course for a 4.8% boost to their State Pension in 2026, with the rates expected to rise in line with average wage growth – as this is the highest figure out...

Rachel Reeves is acting as if she’s been reluctantly forced to act by events beyond her control. It’s all the fault of the Tories, Donald Trump, Nigel Farage, Vladimir Putin, Liz Truss... anybody but our actual, literal Chancellor. Don't believe it. This Budget belongs to her, as the last one did. Her fingerprints are all over it.Reeves and PM Keir Starmer crushed a recovering economy the moment they started banging on about the need for huge tax hikes straight after the election. Something they strangely forgot to mention during the campaign. Households and businesses took fright, and they were right. Last October’s Budget was even worse than feared.Reeves slapped on more than £40billion of tax rises, the biggest raid since the early 1990s. Most of the pain landed on employers thanks t...

November has arrived, and with it, comes anxiety for winter's dropping temperatures and energy bills during UK's Cost of Living crisis. Now under a month till Reeves' budget, Brits are preparing for the dark reality of Winter Fuel and pension cuts, along with the rising prices of food and travel. However, UK residents have been told all is not lost as they could recieve a Warm Home Discount to aid budgets for energy costs. This Goverment scheme could award eligible households up to £150.Luckily, over 2.7 million additional households will become elligible, resulting in over 6 million houses across England, Scotland and Wales benefiting from the scheme. With a different scheme for Scottish residents, whereby low-income Scotes must apply, those living in England and Wales should become ac...

Nearly 24 million people across Great Britain are claiming at least one benefit from the Department for Work and Pensions (DWP). However, many may not know about an annual bonus paid to some claimants before Christmas. The DWP 'Christmas Bonus' is a one-off, tax-free payment of £10 made to people in receipt of certain benefits, not including Universal Credit. Payments will be issued automatically before January 1, 2026.Those on the State Pension, PIP, devolved Scottish disability benefits, Attendance Allowance, Carer's Allowance – 23 benefits in total - will receive the money automatically before Christmas. However, they need to meet the eligibility criteria during a specific qualifying period, which is typically the first full week in December. The DWP will issue this as a separate pay...

Shoppers looking to save money on their weekly shop might be surprised by who’s come out on top in the latest supermarket price comparison. Aldi is often seen as the cheapest, but it’s just been knocked off the top spot. Consumer group Which? compared the average prices of 70 popular items, including branded and own-brand products such as milk, bread, and cheese, across eight of the UK’s biggest supermarkets.And this time, it was Lidl that came out cheapest, with a basket of 70 goods costing £120.38 with a Lidl Plus card, or £120.46 without it. Aldi followed closely behind at £121, while Asda was the third cheapest at £132.69. Which? said the findings showed just how tight the battle has become between Aldi and Lidl, with competition heating up after Lidl ended Aldi’s long-running winni...

Pensioners and landlords are set to bear the brunt of a possible income tax hike that could cost typical earners hundreds of pounds a year.Chancellor Rachel Reeves has given her clearest signal yet that she is prepared to break Labour’s election pledge not to raise income tax, VAT or National Insurance, saying “we will all have to contribute” to efforts to rebuild Britain’s economy.Speaking at Downing Street, Ms Reeves said her priorities were to reduce debt, support the NHS and ease the cost of living.She added: “Each of us must do our bit for the security of our country and the brightness of its future.”Her comments have fuelled speculation that the Chancellor is preparing a 2p increase in income tax in this month’s Budget - potentially offset by a 2p cut in National Insurance.Under s...

Marks and Spencer's boss has warned that customers are "preparing for the worst" after Chancellor Rachel Reeves's "presentation of nothing" speech on Tuesday, adding that customers are now even more worried about tax hikes.The chief executive, who revealed he had a “frank” conversation with Ms Reeves during a store visit last month, said the evidence from customer surveys it conducts suggested "they are getting worried about rising costs and they got more worried after yesterday’s speech". They are very worried about tax rises and they think things are heading in the wrong direction.” He added: “They are planning for the worst and hoping for the best".Mr Machin also said the group faced cost increases of more than £50 million from the National Insurance hike in April over its first half...

‘The Big Money Show’ panel reacts to New York City’s stunning socialist turn, warning that voters chasing ‘free stuff’ may drive jobs, businesses and taxpayers out as affordability and crime worsen. Economic concerns were at the forefront of American voters' minds as they cast their ballots on Tuesday in key elections around the country. New York City voters tapped democratic socialist candidate Zohran Mamdani as the Big Apple's next mayor. Voters elected a duo of Democratic congresswomen in gubernatorial races, with Mikie Sherrill prevailing in New Jersey and Abigail Spanberger winning in Virginia, while Californians voted to allow partisan congressional redistricting.Economic issues were a focal point for Americans in several of those key races, and voters had a relatively pessim...

Almost half of adults have used AI to choose gifts for their partner - with nearly four in 10 relying on it for birthdays, anniversaries and even Christmas. But while many are happy to let algorithms do the hard work, more than a fifth admit they wouldn’t tell their other half that their ‘thoughtful’ surprise was AI-assisted.Men are more likely to use AI secretly, with 46% admitting they would hide it compared to 37% of women. Despite these efforts to pull the wool over their partner’s eyes, 36% believe they’d be able to tell if a gift they received had been chosen by AI. Still, more than half  said it’s perfectly fine to use AI to buy presents for a partner – suggesting that honesty really might be the best policy.The research of 2,000 adults, which was commissioned by a global payment...

The DWP has issued a statement about proposals to stop benefits such as PIP (Personal Independence Payment) for people with certain health conditions. The update came after Shadow Work and Pensions Secretary, MP Helen Whately, set a motion before the House of Commons, proposing changes to curb welfare spending.She called for several changes to "fix Britain's welfare system", including "stopping benefits for those with lower-level mental health conditions". Further setting out the Conservative party's plans, she said: "We would stop sickness benefits for people with lower-level mental health conditions like anxiety and reform Motability, putting an end to taxpayer-funded cars for people who have conditions like ADHD and tennis elbow."We would bring back face-to-face assessments, which ar...