Temie Laleye

5 days ago | gbnews.com | Temie Laleye

Ten energy suppliers have paid around £7million in compensation and refunds to thousands of customers after an error. More than 34,000 customers were overcharged on their energy bills over the past six years due to an error, according to the energy watchdog Ofgem. The affected suppliers include Octopus Energy, Utility Warehouse, Ovo Energy, So Energy, Outfox The Market, Ecotricity, E.On Next, Tru Energy, Rebel Energy and EDF Energy.

5 days ago | gbnews.com | Temie Laleye

The Bank of England has warned the UK economy is nearing a critical point, with pressure from trade tensions, inflation, and global uncertainty. Governor Andrew Bailey said there’s a growing risk of a sharp drop in demand, raising fresh fears of recession. Bank of England Governor Andrew Bailey has warned that the UK faces growing economic uncertainty, despite becoming the first country to secure a trade deal with the US under President Trump’s new tariff regime.

6 days ago | gbnews.com | Temie Laleye

Hundreds of thousands of benefit recipients are being urged to watch for crucial Universal Credit migration notices arriving through their letterboxes. Failing to respond could result in the complete loss of vital payments. The Department for Work and Pensions (DWP) is ramping up its "managed migration" process, which aims to move everyone from legacy benefits to Universal Credit by 2026.

6 days ago | gbnews.com | Temie Laleye

Rachel Reeves' £25bn raid on employers' National Insurance Contributions is putting the brakes on wage growth across the UK, new research has shown. Just as workers were beginning to see their pay packets recover from the cost of living crisis, the Chancellor's tax increase is causing employers to tighten their purse strings. Wage growth is now slowing sharply, with company surveys clearly pointing to the Chancellor's policies as the culprit.

6 days ago | gbnews.com | Temie Laleye

Rachel Reeves has been warned of a looming darkening economy, despite the Bank of England’s decision to cut interest rates. Although the base rate was cut, experts explain that interest rates "still remain high" and households are bearing the brunt as they are set to spend an extra £3,500 under the Labour Government. UK interest rates were cut to 4.25 per cent today, following a split vote among policymakers.