Generous taxpayer-backed pensions give top government bureaucrats an average pot of over £900k

A groundbreaking investigation into public sector pensions has revealed the 22 individuals who run UK government departments have an annual average pot of £907,273. The TaxPayers’ Alliance (TPA) has today revealed the details of some of the most generous unfunded pensions in Whitehall, with Sir Simon McDonald, head of the Foreign and Commonwealth Office, currently sitting on a pension pot valued at £1,858,000. Fourteen of the top government bureaucrats will also receive a huge lump sum payout in addition to their annual...

Cutting down on meat saved Brits more than £2.8 billion last year

Cutting down on meat saved Brits more than £2.8 BILLION last year, a study found. Researchers who polled 2,000 UK adults found 26 per cent reduced their meat intake during the past 12 months - and in doing so, saved an average of £209 each. The biggest motivations for making the change include health concerns, saving money and reducing the impact of meat consumption on the environment. Commissioned by vegetarian brand, Linda McCartney Foods, the study found the proportion of...

$1 trillion leaves British shores ahead of Brexit D-day

Banks and financial institutions have shifted at least $1 trillion worth of assets out of the UK and into the European Union because of Brexit, EY have claimed in a report published this week. Many banks have set up new offices in Europe to safeguard their regional operations, which means they have moved substantial assets over to satisfy EU regulators. Other firms are moving assets to protect clients against market volatility and sudden changes in regulation. In total at least £800 billion...

The FTSE has lost more value in last 12 months than the UK has paid into the EU in decades

Economic worries, Brexit uncertainty and the trade war between the US and China saw the FTSE 100 tumble by 12.5 per cent during 2018, wiping out more than £240 billion off shareholder value. The blue-chip index of top UK shares ended the year at 6,728 points, down from 7,687 on the last trading day of 2017. The sell-off has inflicted significant losses on pension funds, major fund managers and small investors alike. Shares in major house builders fell sharply amid...

£400k awarded for legal services to help most vulnerable after Universal Credit roll out

A London funder has awarded three law charities funding for welfare, immigration and legal services following an increase in demand after the roll out of Universal Credit. City Bridge Trust, the City of London Corporation’s charitable funder, awarded £136,700 to Camden Community Law Centre, £185,800 to Islington Law Centre and £101,000 to Southwark Law Centre to help the capital’s most vulnerable in legal battles. Islington Law Centre’s money will fund a specialist Welfare Benefits Advisor to provide advice on the...

Breaking: London stock market hits 28-month low

Stocks are falling in London, as traders rush to sell following last night’s hike in US interest rates. It is the worst performance since Sept 2016. When the markets opened for trading the FTSE 100 shed 119 points (1.6%), which is a new 28-month low of 6646 points. Over in the US, Wall Street stocks slumped on Wednesday after the Federal Reserve lifted interest rates, sending major indices to fresh 2018 lows, even as the US central bank signaled it...

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