Banks fail the âstress testâ
The Financial Services Authority (FSA) has published details of its âstress testâ for banks, which assumes that house prices will halve and unemployment will peak at 12 per cent. The…
Tag: unemployment
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FSA warns of rising cost of mortgage insurance
The Financial Services Authority has warned a number of insurers have recently increased the premium charged for mortgage payment protection insurance or reduced the level of protection offered, at a…
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Deprived parts of Wales see few economic gains
Economic gains in deprived parts of Wales in the past 10 years have been wiped out by the recession, and worse is still to come. A report by the Joseph…
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Action to head off credit crunch stress
A package of measures to help unemployed people who are experiencing depression or anxiety to get back to work were announced on the weekend by health secretary Alan Johnson and…
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Migrants have a positive effect on jobs and wages
A new study by the Institute of Public Policy Research has found that there is no evidence to suggest that large-scale migration from eastern Europe since 2004 has had a…
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‘Drop outs’ will top 1 million
The number of young people not in employment, education and training (neets) is expected to total one million by September research by the Local Government Association has found. Much earlier…
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Public losing support for welfare state
Public attitudes to the welfare state have hardened during Labour’s decade in power, and even more so among Labour voters, a study by the London School of Economics has found.…
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Shelter warns of second wave of arrears
Shelter has warned the government and mortgage lenders to start preparing for a second wave of arrears and repossessions that will hit the UK in the next two years. It…
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Householders face a lifetime of debts
Typical householders have ‘no realistic hope’ of paying off their debts in their lifetime, Citizens Advice said today. People turning to CAB advisers for assistance owed an average of £16,971,…
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Barclays forecast a 30% drop in house prices in total
The head of Barclays bank has predicted that house prices will fall in total by 30 per cent, ahead of the latest UK unemployment figures on Wednesday. The chief executive,…