News headlines for 16th September

Business/Economics

  • Pressure is growing for Osborne for U-turn over deficit reduction reports the Daily Mail. While Hamish McRae writes in the Independent that rising deft risks UK’s safe haven status.

Property

  • Britons have more than £2,800 worth of clutter stored in their attics research by Co-op has found. As well as gadgets, the most common items stored are family heirlooms, photographs and old clothes. Nearly a third keep their wedding dresses there while one in ten families store old bicycles.

Personal Finance

  • Household incomes will enjoy a rise in real incomes next year for the first time in three years but the wealthier will benefit the least says a new report by the Centre for Economic and Business Research. Households with incomes above £50,000 will see slowest growth despite top rate tax being cut to 45p from April next year says the Sunday Times cover story. Middle Britain is in the red as debt rockets to £60bn according to the Credit Services Association. Middle income families are falling behind on their payments for the first time. £33.2 billion has been placed by debt collection agencies who are paid a percentage of any money they recover and £28.2 billion had been sold to debt buyers who give the creditor a proportion of the face value of the debt and then pursue the money owed themselves reports Dan Atkinson in the Mail.
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