Weekly news roundup – 29th October 2010

1 min Read Published: 31 Oct 2010
healingdream / FreeDigitalPhotos.net
healingdream / FreeDigitalPhotos.net

The weekly roundup of the headlines most affecting your personal finances.

Interest rates set to rise as economy recovers

Interest rates will start to rise sooner than expected as British economy grows at fastest rate for a decade, economists say.

Pay cuts 'for years to come' in private sector

Private sector staff are facing effective pay cuts "for years to come" despite better-than-expected GDP growth, new figures have shown.

Inflation proofing baffles public

Most people do not understand how a government change to the inflation-proofing of public sector pensions might affect them, a survey suggests.

Housing benefit

How does it work and who stands to lose out?

Nissan to recall 2.1 million cars

Nissan recalls 2.1 million vehicles worldwide because of an ignition problem, including nearly 84,000 K12 Micras built in the UK.

State Pension: the reforms are good but do they go far enough?

Plans to raise the state retirement pension to a flat rate of £140 are a breath of fresh air and should finally result in a much fairer and simpler pension system.

Penalties for wealthy who fail to disclose child benefit info

Higher rate taxpayers could face penalties if they fail to declare child benefit received by a partner.

Savers ‘losing £12bn in interest’

Which? survey finds UK banks and building societies are offering savers meagre interest rates and failing to promote more suitable accounts.

UK Economy grows faster than expected – but should you care about GDP?

Private pensions to become compulsory for workers

Companies will be forced to enrol staff into private pension schemes from 2012 in a bid to make the UK save more.

UK house prices fall faster than expected

Nationwide survey comes as member of Bank of England's rate-setting MPC warns spending cuts will hit economic growth

Airlines protest against rise in tax

Air taxes are to rise by up to 55% on Monday, making some trips unaffordable, the travel industry has warned.

Energy bills likely to rise after Scottish and Southern Energy announces price increase