FYT weekly news - 16TH december



The Conservatives’ win

What does it mean for your money?



The ££ this Christmas

  • it will buy you more of the currency you’re buying

  • about 10% more versus exchange rates in August


Pledges


🤞 Budget within 100 days


🤞 National Insurance contributions

 threshold increased to £9,500

earnings from £8628

worth £95 pp per year



🤞 No tax or VAT increases for 5 years



🤞 Nat Living Wage boost within 5 yrs

to £10.50/hour for 21+

from currently £8.21 age 25+



🤞 House Prices

with the election over, commentators predict

⬆️ a boost in house prices

📆 but short term until EU trade deal reached


🤞 Student tuition fees

Continued freeze likely at £9250/pa



🤞 Universal Credit and Jobseeker’s Allowance +1.7%



🤞 State pension +3.9%

to £175.20/week




Millions of gig workers to get new mortgage deals


First ever mortgages are coming for gig/zero hours contract workers

Banks are working on new ways to assess creditworthiness 


Research shows….


10 million

people have unpredictable incomes

and by 2025 this will grow by

30%






Marieke Flament

Chief Executive of RBS’s Digital Bank Mettle

“A 9 - 5 corporate job is not the norm any more. We see a gap in the market...we should serve”

YET



Baroness Ros Altmann

Former Pensions Minister


“this may be recreating conditions that led to the financial crash ten years ago”






HO HO HO, What Christmas bonus?


A nationwide study by Hawk Incentives found that....



33%

of UK workers have never received a Christmas bonus


3/4

are not expecting one


1/3

believe employers don’t care enough to reward them at Christmas




Chris Ford, director at Hawk says…

“Christmas bonuses…are morale boosting. A small token of appreciation at Christmas time, or any time, can go a very very long way"

Police “Just pay for your coffee"

Hundreds of fake McDonald’s coffee stickers found


👮‍♂️Police stopped a driver and found multiple sheets of counterfeit stickers


☕️They said he was trying to defraud the free coffee loyalty scheme


❌McDonald’s said anyone found with one would be refused a free drink








Scrapyard to donate £20k found in old safe



Staff at a scrap metal dealer found

£20,000 in cash when they cut open an old safe


No one has claimed the cash 


The scrapyard is now the legal owner


They will donate it to two hospice charities


⬇️ ⬇️ ⬇️




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