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£100 billion savings glut could fuel economic recovery, says Bank of England December 17, 2020

The £100 billion in excess savings built up by UK households during this year’s coronavirus (COVID-19) lockdowns could help fuel an economic recovery, according to the Bank of England. Accidental savers working from home have not had any commuting costs and have been unable to spend on holidays, said the Bank. The Institute for Fiscal
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CGT rise would adversely affect entrepreneurs, warns IoD December 17, 2020

The Institute of Directors (IoD) has warned the government that a rise in capital gains tax (CGT) would affect Britain’s entrepreneurial spirit. The business group believes CGT could be targeted by the Treasury and increased in order to help put public finances back on a stable footing following the coronavirus (COVID-19) pandemic. Tej Parikh, Chief
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Individuals urged to remain vigilant when making festive charitable donations December 17, 2020

Action Fraud has warned the public to remain vigilant when making festive charitable donations as the number of scams rises. Figures published by Action Fraud showed that £350,000 in charitable donations ended up with criminals over the festive period in 2019. It warned that fraudsters often set up fake charities or impersonate well known charitable
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Lenders still supporting thousands with payment deferrals December 15, 2020

The UK’s banks and financial lenders continue to support tens of thousands of borrowers with payment deferrals, according to the latest figures from UK Finance. However, the number of people seeking support from deferrals has dropped markedly since earlier this year. In mid-November there were still 127,000 mortgage payment deferrals in place, a significant reduction from the 1.8
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Businesses have ‘insufficient information’ on Brexit changes, BCC finds December 15, 2020

An analysis carried out by the British Chambers of Commerce (BCC) has suggested that businesses lack detailed official information on the rules that are set to take effect once the Brexit transitional period ends on 31 December. The BCC found that businesses have insufficient information in regard to 24 critical areas. This is ‘undermining their
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