Budget 2014: The headlines

Budget 2013 the headlinesGeorge Osborne, the Chancellor of the Exchequer, got to his feet at 12.30 today and over the course of the next hour delivered his latest Budget Statement If you have a pension or ISA the changes announced today are possibly the largest for a generation; read on to learn more. He started by saying that the “economy was recovering faster than forecast” and that “together with the British people we held our nerve” he then went on to announce huge changes to the way in ...

Cost of raising a child hits £150,000

iStock_000005361710_ExtraSmallRecent research conducted by the Child Poverty Action Group (CPAG), has revealed some families could face financial hardship, as the cost of raising a child, to the age of 18, has hit £150,000. The report reveals:   It now costs £148,000 to raise a child to the age of 18 The cost of raising a child has risen by 4% The value of both child benefit and tax credit fell in real terms last year Families with children are at higher risk of falling into poverty, than those ...

Who are the winners and losers from Mark Carney’s interest rate announcement?

Autumn Statement 2012 Winners & Losers_istockThe phrase ‘forward guidance’, introduced into the financial dictionary earlier this week by Mark Carney, the new Bank of England Governor, sounds innocuous enough. But for better or worse, it will soon affect each and every one of us over the next few years. First things first, what does ‘forward guidance’ mean? Put simply, the Bank of England’s Monetary Policy Committee (MPC) is tasked with keeping inflation at 2%; not higher, not lower, but at ...

How much will it cost to raise your children?

iStock_000013339740_ExtraSmallNew research has shown the cost of raising a child has risen over the past year. According to Quidoco.com, the cost of raising a child has increased to £2,774 per year, equivalent to a total of £51,000. However, as this figure only takes into account costs up to the age of 18 and does not include the cost of university or higher education, the real figure will be much higher for many parents. The research shows the biggest areas of expenditure are leisure ...