Banks

UK's free banking debate picks up pace

A top official at the Bank of England has added to speculation that the UK's banking system could be set to change after labelling free banking a 'dangerous myth'.

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Confusion over PPI compensation and tax liability

Individuals receiving compensation for mis-sold payment protection insurance (PPI) are unaware they may be liable to pay tax on awarded payments, after HMRC clarified its position on PPI and taxation.

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FSA investigates banks mis-selling to small businesses

The Financial Services Authority (FSA) is to investigate a growing number of claims that small businesses were mis-sold certain complex financial products by major banks in the UK, following a report that appeared in the Sunday Telegraph.

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Treasury publishes review into financial crisis

The Treasury has published an internal review of how it handled the 2007/8 financial crisis, admitting its staff were 'stretched' and that it 'did not see the crisis coming'.

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Business groups offer last minute Budget proposals

Business groups have urged the Chancellor to take 'radical action' and deliver measures which support small businesses, drive job creation, and encourage UK economic growth, in the Budget that will be announced tomorrow.

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Loan scheme for small businesses launched

A new Government backed loan scheme worth £20 billion aimed at boosting lending to small and medium-sized enterprises (SMEs) has been launched by the Chancellor.

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Independent report advises alternative methods of SME finance

Proposals to increase access to capital and promote alternative sources of finance for small businesses have been published in an independent taskforce report.

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Bank holds interest rate at 0.5% for 3 years

The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates at 0.5 per cent for another month, marking three years since the rate first plummeted to its record low.

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Lenders to clarify mis-sold PPI details

Firms that may have mis-sold payment protection insurance (PPI) to consumers have been given guidelines in order to clarify the information sent to those potentially affected.

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Business groups endorse non-bank finance for small firms

The Government should be doing more to promote the alternative forms of finance available to smaller firms, says the Federation of Small Businesses (FSB).

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