Tag: finance

Which? – We need a Pensions Dashboard

Which? is calling for the urgent introduction of a comprehensive pensions dashboard after an investigation exposed how the current system leaves workers struggling to track down and understand their retirement pots.

The consumer champion challenged 12 volunteers to track down key pieces of information about each of their 38 pension schemes, to see what difficulties they faced.

Of the volunteers, nine (75%) encountered gaps in their data, while only three (25%) were able to find all the requested information via paper statements, online accounts and phone calls.

Some volunteers struggled to find the value of their pension or projected entitlement under a defined benefit scheme. One was told by their provider that they had to wait 40 working days – almost two months – for a new statement to give the information.

Several participants discovered worrying errors. Among the top concerns consumers had was missing information – particularly when it came to pension charges and investment strategy, with some unable to find anything at all about either.

Which? also found that even where information was available, it wasn’t always correct.

One participant, 36, from London, had a shock when she started looking at her pension with her last employer, a US-based marketing agency using a UK payroll provider.

For a period of eight months, pension payments had been deducted from her salary, but neither this money nor any company contributions had found their way into her pension account – potentially breaking the law through non-payment of contributions.

Other volunteers found that pension company mergers and takeovers can add to the sense of confusion, with one having historic correspondence from three different providers for the same scheme. This was after her pension company was first taken over by another provider and then her employer switched its nominated firm.

The new research was published as Westminster debated the Pension Schemes Bill, which legislates for the introduction of a pensions dashboard.

In a separate survey, Which? asked more than 300 members across the UK whether they would use a pensions dashboard to manage their retirement and what they most wanted to see included in it.

More than three quarters (77%) said they would be likely to use the dashboard to find out about their pensions.

Among the top requests for inclusion on the dashboard was an update on the state pension, with nearly three quarters (74%) wanting to know how much they’d get at state pension age.

Almost two thirds (62%) were keen to have a projection of their future retirement income, while more than half (55%) wanted to know their current pension value and a similar number (54%) wanted to see charges.

Which? has long called for the introduction of a pensions dashboard to ensure that savers can see all their pensions in one place.

The consumer champion has pressed the government to ensure that a dashboard provides people with relevant information about all of their pension pots in one place – including the state pension. The dashboard must also publish key information such as charges and income projection figures, to ensure savers are equipped with the information they need to plan for their future.

The pensions dashboard project was first announced in the 2016 Budget and the government originally promised to ensure that it was designed, funded and launched by 2019. But a prototype version won’t probably be available until 2021 at the earliest.

Gareth Shaw, Head of Money at Which?, said: “A pensions dashboard could be a game changer for consumers who have struggled for too long with a complex, fragmented pensions system.

“For the millions of pension savers to get genuine benefit from a dashboard, the government must use this opportunity to ensure that it delivers all the information consumers need to see including their charges, income projection figures and state pension entitlement.”

Which?’s Pensions Planner checklist:

  • Get to grips with the basics: ask for an up-to-date statement if you haven’t had one in a while and make sure any online log-ins still work.
  • Update your details: if you haven’t updated your address since moving, your pension statements may end up with someone else.
  • Nominate a beneficiary: after your death, most pension schemes will allow anyone to inherit your pension.
  • Find lost savings: the Pensions Tracing Service is a free service that searches a database of more than 200,000 workplace and personal pension schemes.

Capital Coalition votes to slash services

Edinburgh’s ruling SNP-Labour ‘Capital Coalition’ voted though cuts of £35 million to public services last night – and agreed to raise Council Tax by almost 4.8%. Labour councillor Gordon Munro abstained.

And if you think the cuts will end after next year, think again: the Council set a three year budget and plans to make cuts of £87 million over the next three years.

Council leaders say the budget will protect vital services, but opposition parties argue that the scale of the cuts will damage communities.

SNP Cllr Adam McVey, Council Leader, said: “We’ve agreed a bold budget which protects the most vulnerable in society and guarantees a fairer quality of life for future generations. It prioritises those Council services which work to help those who are most in need of our support – protecting our young people, our communities and our planet in the process.

“In the face of growth and a global climate emergency, we’ve outlined plans for the biggest investment ever to be made into new, sustainable and affordable homes in Edinburgh.

“The people of Edinburgh have told us they want their city to be sustainable, to be fair and for frontline services to be protected. That is what we are delivering with a budget which invests in the services our city needs. I’d like to thank fellow Councillors for standing up for a plan which is fair and sustainable.”

Labour Cllr Cammy Day, Depute Leader, said: “The plans passed today support new schools, sustainability and the regeneration of this city and I’m pleased we’ve been able to – yet again – agree a balanced budget, despite the ongoing financial uncertainty we and all local authorities face.

“This forward-thinking approach will provide much greater certainty to residents, to workers and to partners right across the city and will help us tackle poverty in all its forms.

“Under today’s budget, this Council is committing to do all that we can with the resources we have to improve residents’ lives and protect those services which are vital to our most vulnerable citizens. This will be supported by the thousands of new, affordable homes we’ll help to build and the community regeneration we’ve pledged to deliver.

“For too long we’ve turned our back on our fantastic waterfronts and this budget plan will allow us to move forward with our plans to regenerate Granton, providing new homes and a fantastic community for people to work and visit.”

Far from moving forward, Lib Dem councillors Kevin Lang and Louise Young believe the budget is a backwards step.

Commenting last night, the brother and sister councillors for Almond ward said: “We are sorry to say the SNP’s Council budget was passed tonight. We argued strongly for our alternative which avoided the worst of the service cuts but the votes weren’t there.

This means:

❌ an end to all Council funding for community policing, putting dozens of officer posts at risk.
❌ removing all 130 teachers from our nurseries.
❌ a big cut to headteacher school budgets.
❌ slashing the funding for local sports and leisure centres.
❌ opening the door to library cuts.

“The SNP also refused to accept our fully costed plan to put more money into road and pavement repairs or into new park playground equipment.

“We always try to be optimistic but there’s no getting away from the fact this is a bad budget for our constituents.”

Earlier this week the Convention of Scottish Local Authorities warned that the Scottish Government’s Budget will hit vulnerable communities the hardest.

COSLA said the Government has not considered successive years of cuts, or rising inflation and demand and have therefore put council services at risk.

Councils have said they believe the budget will have a major impact on the Government’s ability to address the four priorities of inclusive growth, tackling child poverty, wellbeing and climate change, and puts Scottish Government commitments at risk if no further funding is found as part of the Budget Scrutiny process.

COSLA’s view is that taken on its own, the Scottish Government’s announcement of an additional £495m for councils is misleading to communities.

Councils are required to deliver an additional £590m worth of new Scottish Government policy commitments, resulting in a cut to council budgets of £95m. It is vital to note that this doesn’t account for inflation and therefore the real terms cut to the Local Government revenue budget is nearer £300m.

The draft capital budget is equally as devastating. Whilst £54m of new capital money has been announced this is negated by £171m worth of Scottish Government commitments. This leaves a £117m cut to core capital budgets of 17%. Again, if we include inflation the real terms cut to capital budgets is £130m.

This settlement does not address any of the restoration called for in light of many years of cuts.

Speaking ahead of an evidence session at the Scottish Parliament’s Local Government and Communities Committee on Wednesday, COSLA Resources Spokesperson Councillor Gail Macgregor said: “COSLA has campaigned hard in recent months for the Scottish Government to address falling Local Government budgets.

“We called for Scottish Government commitments to be funded, inflation to be accounted for and restoration to the budget to reflect successive years of cuts to Local Government. It is unfortunate that a sphere of government in this country has not been listened to. 

“This draft budget will impact on jobs, frontline services and Local Government’s ability to address inclusive economic growth, child poverty, wellbeing and climate change and does not address the growing demand most councils are facing in relation to services.”

COSLA President Councillor Alison Evison added: “Recent benchmarking statistics have shown that 10,000 FTE jobs have been lost in Local Government since 2010/11. The impact of this on communities is real and cannot continue. 

“We are calling on Scottish Government and the Parliament to address these concerns, listen to our asks and prevent the loss of essential council services which communities rely upon.

“Make no mistake, councils and the services which communities rely upon will be at risk as a result of this budget.”

Councillors voyed to raise Edinburgh’s Council Tax by 4.79%. The tax band levels for Edinburgh in 2020/21 will come into effect on 1 April 2020 and will be:

A – £892.39

B – £1,041.13

C – £1,189.86

D – £1,338.59

E – £1,758.76

F – £2,175.21

G – £2,621.41

H – £3,279.55

Budget overshadowed by Mackay scandal

Investing in vital public services and ending Scotland’s contribution to climate change are at the heart of the Scottish Government’s tax and spending plans for the year ahead, according to the Scottish government – but critics say the budget is another wasted opportunity and will mean yet more cuts to public services.

Yesterday’s budget was completely overshadowed by the shock resignation of Finance Secretary Derek Mackay, who left office just hours before the budget was due to be presented following a newspaper expose.

Public Finance Minister Kate Forbes stepped in to deliver the budget.

Setting out the Scottish Budget 2020-21, Ms Forbes announced a package of funding to accelerate Scotland’s transition to a net-zero economy, including £1.8 billion of investment in low carbon infrastructure which will help reduce emissions.

She also announced a record investment of £15 billion in health and care services and £645 million for the expansion of early learning and childcare.

The Scottish Budget 2020-21 also proposes:

  • £117 million investment in mental health for all ages and stages of life
  • £180 million to raise attainment in schools
  • an above real-terms increase of £37 million to the police budget and an additional £6.5 million to support community justice to reduce re-offending
  • £220 million of seed funding for the Scottish National Investment Bank to support its mission to drive the transition to a net-zero economy
  • increased investment of £270 million in rail services and an additional £16 million in concessionary travel and bus services, taking total investment in rail and bus services to around £1.55 billion
  • increased investment of £5.5 million in active travel
  • £20 million for peatland restoration with a commitment to invest more than £250 million over 10 years
  • Investment of more than £64 million to support the commitment to plant 12,000 hectares of forestry, with the aim to reach 15,000 hectares by the mid-2020s
  • a new £120 million Heat Transition Deal and a total investment of £151 million in energy efficiency
  • £40 million for an Agricultural Transformation Programme
  • a 3% pay uplift for public sector workers earning up to £80,000

Ms Forbes said: “The global climate emergency is at the centre of our Programme for Government and we have already put in place the most ambitious climate legislation and targets of any country. This Budget will help deliver on that world-leading ambition.

“From increased investment in low carbon transport to funding for peatland restoration and forestry, this Budget sets out our spending plans to help us deliver the transformation we need across society to transition to net-zero.

“We have also put wellbeing firmly at the heart of this Budget to benefit as many people as possible across the country. We will do this through prioritising inclusive economic growth with the creation of high quality jobs, supporting our public services and tackling inequalities head on.

“We estimate that we are investing at least £1.4 billion to support low-income households, mitigating the worst effects of the UK Government’s benefit cuts which are hitting the poorest in society and our Scottish Child Payment will help lift 30,000 children out of poverty when it is fully rolled out in 2022.

“I urge the Parliament to work constructively with us to pass this Budget in the national interest.”

The budget has come in for criticism, however.

STUC General Secretary Grahame Smith said: “This budget is long on promise but falls short on delivery. Positioning the budget as building the well-being economy is to be welcomed but far more was required to make that a reality.

“There is no doubt that the UK Government’s approach to Budget setting has left the Scottish Government in a difficult position. But to tackle the ‘crippling reality of austerity’ requires investment in decent local services. At best the budget provides only half of what local councils say they desperately need.

“We welcome the freezing of the higher rate tax threshold but much more is needed on redistributive taxation if the well-being economy is to be achieved.

“The Scottish government has missed an opportunity to commit to building the homes for social rent desperately needed in Scotland. By the next budget, it will be too late and local authorities and housing associations will have downed tools, without the funding to continue to build more homes for social rent. It is also disappointing that there are minimal new financial commitments in social security.

“On pay we are pleased that the government has listened to unions and extended the 3% pay increase to those earning over £40k per year, however we are a long way short of the much-needed restoration on public service pay to pre-austerity levels.

“While there are some new measures to tackle climate change, the funding levels proposed are still not sufficient to tackle the climate emergency.

“Given the failure over a number of years to create the new green jobs once promised, it is crucial that new funding comes with new jobs and does not simply provide cash handouts to big business and landowners.

“To be worthy of the name of a Green New Deal would require a publicly led and planned approach to decarbonisation involving publicly-owned companies, something this Budget fails to do.”

Jim McCormack, Associate Director of Joseph Rowntree Foundation Scotland, said: “This Budget was an opportunity to show the Scottish Government’s ambition to deliver on tackling poverty, yet today’s statement falls short of the mark.

“It cannot be right that one in four children in Scotland have their lives restricted by poverty. At the start of the decade in which all parties have pledged to solve child poverty, we welcome the financial commitment to introduce the Scottish Child Payment. But we know this won’t be enough to turn the tide: Scotland is not on track to meet the ambitious targets set for 2023-24.

“Scotland’s lower levels of child poverty compared with the rest of the UK are due to lower housing costs. If this advantage is to be maintained then the affordable homes programme needs to be continued beyond 2021. Now is the time to commit to further investment in secure, affordable homes for those facing rising rents and stuck in temporary accommodation.

“In-work poverty is a pressing economic challenge for families. Two-thirds of children in poverty are in families where an adult is working. The new Parental Employment Support Fund is too small to meet the scale of the challenge and only runs for two years. Investment should be increased and extended to benefit more families for longer.”

COSLA said it was disappointed that once again the Scottish Government has presented a Budget for Local Government that looks much better than the reality behind the figures.

Speaking this afternoon following the Scottish Government’s (Thursday) Budget announcement, COSLA’s Resources Spokesperson Councillor Gail Macgregor said: “On the face of it this looks like a good Budget for Local Government with a cash increase of £495million and whilst we acknowledge this money, the reality behind this figure unfortunately is quite different.

“What we are left with when you factor in the Scottish Government commitments of £590million – is a cut to Local Government core budgets of £95 million. This is £95 million in hard cash that will need to be taken out of front line services for communities. We campaigned hard to ensure that this position did not happen – it is disappointing our message has not been listened to.

“When you add in a £117million cut to capital funding (which equates to a 17% cash cut) – a hit to both communities and growing the economy you are left with a crisis for Local Government which is a long way from the picture being painted. This is even worse when seen in the context of an increasing Budget for the Scottish Government.

COSLA President Councillor Alison Evison added: “Local Government’s core budget which provides our essential services has been cut as a result of today’s budget. A cut of a significant proportion is the Budget Reality that our Communities now face – a cut to services, a cut to local jobs, a cut to the work councils do to tackle child poverty and respond to climate change.”

“In addition to the cuts – it is also extremely disappointing that we have seen no money for inflation or any other of the significant pressures we face, such as restoration for cuts to our funding in previous years. COSLA will be raising these issues with the Scottish Government and all parties across the Parliament at the earliest opportunity to ensure this picture is rectified as part of the budget scrutiny process. It is our communities and the priorities of tacking child poverty, wellbeing, climate change and inclusive growth that will suffer.

“Things cannot go on in this manner. I am really concerned that more and more of what Local Government does is directed by the centre. As a result of the Scottish Government commitments that Local Government has to deliver we are no longer able to respond to local priorities.”

The Scottish Government argues that the budget offers a real terms increase for local government, hower. Cabinet Secretary for Local Government Aileen Campbell said: “This budget provides a fair settlement for our partners in local government and supports vital public services across Scotland.

“Taken together with the flexibility to increase council tax, this local government settlement gives councils an increase of revenue spending of up to 4.3% in real terms to deliver local services.

“The settlement will deliver on our joint key commitment to expand the funded hours of early learning and childcare this year, funds a fair pay deal for our teachers, and invests more than £120 million targeted at closing the attainment gap through the Pupil Equity Fund.

“This increased settlement will ensure fair, sustainable funding for local authorities.”

 

Mackay to deliver ‘Green Budget’

Scottish Budget to prioritise the climate emergency

Tackling the global climate emergency will be at the heart of the Scottish Budget this week. Speaking ahead of the budget, Finance Secretary Derek Mackay said: “This week I will set out the Scottish Government’s spending plans for the year ahead.

“The global climate emergency was at the centre of our Programme for Government and will be a priority theme in the budget this week.

“We have already put in place the most ambitious climate legislation and targets of any country including decarbonising Scotland’s railways by 2035 and making the Highlands and Islands the world’s first net zero aviation region by 2040.

“This budget will set out how our spending plans and investments will help us achieve these ambitions.

“We will also provide certainty for local government and vital public services. Despite the delay to the UK Government announcing its budget, we will confirm individual local authority funding allocations, having already announced that we are giving them the flexibility to increase their council tax levels by up to 3% in real terms.

“We will not stand by while the UK Government’s benefit cuts are hitting the poorest in Scotland so we will continue to mitigate the worst effects of these cuts to support low income households and tackle child poverty head on.

“I am focused on delivering a budget that promotes inclusive economic growth and puts wellbeing at the heart of our economic strategy to ensure as many people as possible across the country benefit.

“However, as we set out our spending priorities for the year, Brexit remains the biggest threat to our economy and the risk of a ‘no deal’ Brexit is still on the table with the UK Government ruling out any extension to the transition period.

“In a period of great uncertainty caused by Brexit, the national interest demands that the Scottish Parliament passes this budget in good order, and I urge all parties to work constructively to ensure that happens.”

A Digital Economy? Not Cashless, But Less Cash

Big Tech must open up data and help fund digital inclusion as UK economy moves away from cash in 2020s, says IPPR

  • New competition powers should compel big digital firms to share their data if they enter personal finance market – to prevent market domination and promote innovation
  • As UK heads to a ‘less cash, but not cashless’ digital economy, UK must step up investment in digital skills and connectivity to meet new inclusion targets

In a comprehensive review of the future of UK payments, the think tank IPPR has set out how the transition to a ‘less cash’, but not cashless, digital economy can be managed to protect the vulnerable and spread digital opportunities widely and fairly.

The digital transition is already happening fast. While in 2008 60 per cent of UK consumer payments were made in cash, this had fallen to just 28 per cent in 2018. The IPPR report cites forecasts that by 2028 fewer than one in 10 payments will be made in cash.

The digital revolution in finance means a shift to a considerably less cash-based digital economy, but the prospect of a fully cashless UK is not on the horizon, argues IPPR. This shift is expected to boost UK productivity and create opportunities for business and consumers, but there is a significant risk that people and areas reliant on cash may be excluded.

Giant tech firms such as Facebook and Amazon are already starting to offer more personal financial services, alongside traditional banks, but the control they could have over huge amounts of people’s data poses significant risks.

The IPPR report argues that as cash use continues to fall and digital payments break new ground, it is critical that policymakers take action to shape the future of UK payments.

To deliver a future that is both more digital and more just, IPPR recommends:

  • Major platforms such as Facebook and Amazon should be required to open up their data upon entry into the personal finance market. New powers should enable the Competition and Markets Authority (CMA) to impose conditions on market entry for major platforms, including requirement to comply with Open Banking principles and open-source technology. These should include an option to block market entry, including for major technology platforms, where it could lead to consumer detriment, slowing in innovation rates, or excessive market power.
  • Democratising data – Anonymised personal banking and financial service data should be held in a new public data trust, ‘Digital Britain’. This will strengthen competition, promote innovation and prevent monopolistic tech giants dominating the market.
  • Digital Transition Levy worth billions of pounds a year – Reforming the Banking Levy on banks and financial service providers to fund the delivery of digital inclusion schemes against new digital inclusion targets – boosting internet connectivity, strengthening digital skills and fostering innovation that will help people overcome the barriers to the digital economy. The new levy combined with new targets would mean that those who stand to gain most from the digital transition will have some of their gains reinvested in communities that risk being left behind.
  • Bridging the digital divide – More than 8 million UK adults still rely on cash and one in five people do not yet have the digital skills they need to access the digital economy. New targets and investment should be put in place to protect cash access for those who rely on it and to narrow the digital divide across the UK.
  • Protecting long-term access to cash – Between 2017 and 2018 6,243 cash machines have been closed – a 9 per cent drop in a single year. While there are still more UK ATMs in operation than at any point before 2006, this recent rate of decline is a cause for concern. To stem the decline of free-to-use ATMs, business rate rebates should be offered to operators who provide them, and retailers should be incentivised to roll out free cashback services.
  • Creating a new Post Bank – Between January 2015 and August 2019, 3,312 bank and building society branches closed in the UK, equivalent to 55 closures a month. The UK Treasury should oversee the creation of a publicly owned Post Bank with a public service mandate to provide basic banking services to all citizens. It would operate via the existing Post Office network and help ensure the future viability of the Post Office.
  • Championing digital self-employment – The government should develop a digital platform for self-employed workers, so they can better manage payments, streamline tax accounting and apply social security provision. This will not only save them time and boost tax revenues, but also help tackle fraud and financial crime by bringing the informal economy into the system.

IPPR argues that these proposals, amongst others in the report, will deliver a path to a digital economy that delivers not just greater prosperity, but greater economic justice: where more people can access better payments and banking services, data is harnessed for the public good and the most vulnerable people are protected.

The report notes that an increasingly digital economy brings faster payments, more personalised services and greater convenience for digital users. However, if these benefits are only available to digitally savvy people – typically younger people and those with higher incomes – inequality could be embedded into the future of finance, it warns.

IPPR urges the government to seize this moment to prevent all the gains from digitisation flowing to big tech firms and big finance and instead deliver excellent financial services for all, a competitive innovative personal finance market and democratic control of data.

Rachel Statham, IPPR Economic Analyst and lead report author, said: “The future will have less cash. But urgent action is needed to set the UK on course towards an economy that is both more digital and more just.

“By getting ahead now, we can invest the billions needed to get every part of the country ready for a more digital future and protect access to cash where people rely on it. This could see the potential benefits brought by a move away from cash invested to narrow rather than widen inequalities, handing control over from Big Tech and banks to people and communities.

“The move away from cash should only happen as fast as people are ready for, and the benefits of doing so should be shared. By setting new digital inclusion targets at the national, regional and local level, and investing to meet these targets, we can make sure bridge the digital divide and protect cash for those rely on it.”

Carys Roberts, head of the Centre for Economic Justice and IPPR Chief Economist, said: “There are opportunities within reach as the UK economy shifts away from cash and towards digital payments – from productivity increases to preventing fraud and financial crime.

“But there’s also a danger that the shift to digital, if not proactively shaped, will work for some and leave many behind. The government should enable everyone to take part in the digital economy and ensure powerful companies like Apple and Google play their full part in shaping a fairer move away from cash in the UK.”

Jenny Ross, Which? Money Editor, said: “While digital payments have brought great benefit to countless consumers, it is crucial that a balance is found that also protects cash for all those reliant on it – instead of stripping people of this vital payment method.

“With the cash landscape on the verge of collapse, it’s clear that industry alone cannot be relied upon to guarantee withdrawals – so the government and payments regulator must quickly step in with a plan to protect cash against the sweeping tide of bank branch and cashpoint closures.

“Ultimately, the government should legislate to give consumers confidence that they can access cash for as long as it is needed.”

Council will set budget on 20 February

The city council has announced a new timetable to enable councillors to agree a three-year budget on 20 February.

Following confirmation from the Scottish Government that the Cabinet Secretary for Finance, Economy and Fair Work intends to outline his spending plans on 6 February, a special Finance & Resources Committee has been added to the council diary on 14 February, where proposals for spending and investing will be considered in more detail.

A series of proposals developed by Council officers, which have been shared with all political groups in the City Chambers, will be developed into Coalition proposals and published on 10 February.

No decisions have yet been made and officers continue to explore a number of options based on previous feedback from residents and council employees.

However whether the budget is for one year or three, one thing is inevitable: communites face yet more cuts to services.

Council Leader Adam McVey said: “Despite the uncertainty brought about by delays to the UK Government’s budget announcement, we’re committed to setting a balanced three-year budget for Edinburgh – paving the way for record capital investment in our schools and transport over the next 10 years.

“We’ve already started outlining our long-term plans for making the city more sustainable and accessible while managing our city’s growth more fairly and effectively. But to reach these goals, we need to act now and make the smartest use of the resources we have available.

“Yes, there will be some difficult decisions we’ll need to make – that’s no secret. But it’s extremely disappointing that budget information, much of it inaccurate, has found its way into the public domain, causing unnecessary alarm in our communities.

“We won’t let this cloud the process or stand in the way of our priority, which is to agree the best budget for the people of Edinburgh; one that supports people out of poverty, responds to the climate crisis and allows our residents to share in our city’s success.”

The ciy council is currently run by a SNP – Labour ‘Capital Coalition’ – the majority SNP group supported by Labour’s twelve  councillors.

Council Depute Leader, Labour’s Cammy Day, added: “While many Councils across the country will be meeting next month or even later to set a one-year budget, we’re going further, outlining our spending plans until March 2023.

“Despite challenging budgets and continued pressure on local government finance, we will set a three year budget to allow the Council, partner organisations and our residents some certainty for the next few years.

“We will prioritise and invest in the areas our citizens have told us really matter to them, with a focus on poverty and sustainability. I’m confident that our future planning will see the capital city with a positive and progressive outlook for the future.”

Councils need extra £1 BILLION ‘before it’s too late’

The Convention of Scottish Local Authorities has warned the Scottish Government that it risks causing further suffering amongst Scotland’s communities if it does not adequately fund council services. Continue reading Councils need extra £1 BILLION ‘before it’s too late’

Surviving the January sales

New Year bargain hunters have been given 11 top tips for grabbing the best deals in the sales.

Making a list before hitting the shops, using cash instead of cards and shopping on a full tummy are among the tips from the shopping experts at NetVoucherCodes.co.uk.

They say by following a few simple rules shoppers could grab some great deals, but a few false moves and those bargains may not look quite so good later in the day.

Simple tips like planning ahead, questioning whether the item is really needed and taking regular stops to refuel are among the advice given.

A spokesperson from NetVoucherCodes.co.uk said: “Keeping a clear head when shopping is important so you don’t get sucked into fake bargains.

“You want to make sure your shopping trip is enjoyable and satisfying, there’s nothing worse than coming home feeling exhausted, regretting your buys and broke after a long day.

“Many shoppers don’t end up coming home with exactly what they set out to get, so we’ve compiled a list of the best tips for a smooth, satisfying shopping experience so that you can enjoy the New Year’s sales and grab yourself some real bargains.”

Here are NetVoucherCodes.co.uk top sales shopping tips:

1. Check opening times

Before you head off sales shopping, check the opening times. Some stores open much earlier than others. Leave it until mid-morning and you may miss the best of the bargains.

2. Cash NOT card

Avoid using debit or credit cards – it’s far too easy to get carried away with them. Instead, withdraw a maximum spending value in cash. This is more likely to curb spending and help you avoid impulse buying.

3. Fill up

Make sure you have a decent breakfast before you head out shopping so you’re full of energy and ready to make a strong start. Make sure you refuel throughout the day.

4. Use public transport

Rather than battle for a parking space, take the train or bus when you head out shopping. It’ll be cheaper, easier and you won’t have the stress of fighting the crowds to get a space.

5. Do I really need it?

Before you buy, question whether you really need the item. It may have 50% off but if it’s just going to sit in a cupboard or in your wardrobe, then it’s a complete waste of money.

6. Make a plan of attack

There’s nothing wrong with doing a little forward planning to help save time and stress. Make a wish list of what you really want by having a browse online.

7. Bag up

Take plenty of big sturdy bags to help you carry your shopping load. There’s nothing worse than having lots of small plastic bag handles cutting into your forearms and fingers all day.

8. Don’t worry about other shoppers

Don’t get carried away with the crowds, if you have your goals in mind – ensure you stay on track, otherwise you may end up not finishing what you set out to do before closing time.

9. Have a breather

Take regular breaks to collect yourself, stay fed and hydrated and use these little stops to remind yourself of your wish list.

10. Learn the returns

Make sure you have a handle on the returns policy and check if you can return before you purchase.

11. Don’t get roped in

Sales are a great opportunity for many shops to rope customers into signing up to sneaky credit card schemes. These encourage over-spending and what they don’t tell you is that you’ll still be paying for the items months after buying them. THINK before you sign.

Us and Them: Pay for top earners “back in the fast lane”, TUC analysis reveals

  • Britain’s highest earners have enjoyed 7.6% real pay rise over last two years
  • Real wages have remained flat for those on average pay
  • High earners would be boosted further by Boris Johnson’s £9.6bn tax “giveaway”, says TUC

Pay for the top 1% of earners has increased faster than for any other income group over the past two years, according to new TUC analysis,

The analysis shows that pay for Britain’s highest earners (those earning £63 an hour or more – or £2,300 and above for a full-time week) increased by 7.6% in real terms between 2016 and 2018.

By contrast, real wage growth for the typical worker increased by just 0.1% over the same period.

The TUC warned that the gap between those at the top and average workers would get worse under plans floated by Boris Johnson for tax cuts for higher earners – that would cost the Treasury around £9.6bn a year.

The union body says no serious attempt has been made this decade to rein in excessive pay, with Theresa May rowing back on her promise to put workers on company boards.

Average pay is still worth less in real terms than before the financial crisis, with UK workers suffering the longest pay squeeze since Napoleonic times.

TUC General Secretary Frances O’Grady said: “While millions struggle with Britain’s cost of living crisis, pay for those at top is back in the fast lane.

“We need an economy that works for everyone, not just the richest 1%.

“Boris Johnson’s promised tax giveaway to high earners would only make things worse. The prime minister is focused on helping his wealthy mates and donors – not working people.”