Financial Favourites

We are very excited to tell you about a new children’s book by Anthony Flower and Miriam Abigail Flower called The Most Unusual Friends.

We can exclusively tell you that not only is the book great but they are also offering a free fan club for a limited time only and all members receive a personalised letter from their favourite character.

So, to get yours, head on over to www.TheMostUnusualFriends.com and sign up now!

A system of assessments to encourage more people on benefits back into work is “not a financially-based exercise”, a minister has said.

Work and Pensions minister Chris Grayling said that work capability assessments were all about identifying people with the potential to work.

The government is seeking to reassess all 2.6 million people on incapacity benefit – and its successor, employment and support allowance (ESA) – by 2014.

Some charities criticised the move. Source

Will this effect you, how do you feel?

Quick post to say the giveaway at The Face Fits has been extended to this Friday, so if you haven’t already checked it out, please do so!

It’s The Face Fits‘ birthday today, help them celebrate by registering or logging in (if you’re already a member) and they’ll upgrade your account to one million points, enough for all features and unlimited photos absolutely free!!
Happy birthday The Face Fits!

The average family will be £910 worse off this year as they face the biggest peace-time squeeze on their finances since 1921, according to a report.

Rising household bills mean spending power will be significantly less than two years ago, the Centre for Economic and Business Research said.

The consultancy estimates that disposable incomes will fall 2% in 2011, following a 0.8% drop in 2010.

Only the two world wars had bigger impacts on spending, the CEBR said.

The organisation forecasts that inflation will average 3.9% in 2011 – its highest since 1992 – as January’s hike in VAT to 20% from 17.5% and the rising cost of oil and other commodities continue to drive up prices.

Pay packets, on the other hand, will rise just 1.9% as unemployment remains high and the full extent of public sector cuts kick in.

http://www.bbc.co.uk/news/business-13029870

Tax and benefit changes affecting millions of people have come into force amid a political row over their impact.

Labour are arguing that a child benefit freeze, tax credit changes and the way benefits are linked to inflation will leave many families worse off.

The Treasury said there would be “some losers” but the poorest 80% of households would, on average, be better off with some taken out of income tax.

The changes have come into effect as the new tax year starts.

The parties are at odds over who will lose out the most – with the government denying Labour claims that the changes are “regressive”, hitting the poorest hardest.

http://www.bbc.co.uk/news/uk-politics-12981021

Key Points from the BBC:

1. Chancellor George Osborne has delivered the Budget in the House of Commons
2. Fuel duty to be cut by 1p and expected 4p rise cancelled – all paid for by a £2bn tax on oil companies
3. Further £600 increase in personal tax allowance from April 2012
4. Financial help for 10,000 first-time buyers to get on property ladder
5. Tobacco duty rates up by 2% above inflation from 28 March, and alcohol duty rises – 4p extra on a pint, 15p on a bottle of wine and 54p on a bottle of spirits
6. Forecast for how much UK economy will grow in 2011 downgraded

For live update on the Budget: http://www.bbc.co.uk/news/uk-politics-12759543

Finance ministers from the G7 group of the world’s richest nations have agreed to step into currency markets in a bid to control volatility in Japan’s yen.

It is first time since 2000 that G7 countries have jointly intervened in currency markets.

Earlier this week, the yen hit its highest level since World War II against the US dollar, adding to fears over Japan’s recovery.

The yen weakened to 81.44 against the US dollar after news of the plan.

The nuclear crisis in Japan, coming soon after a huge earthquake and tsunami devastated the coastline, has hit financial markets around the world, with many worried about the impact on the global economy.

http://www.bbc.co.uk/news/business-12781534

Senior Liberal Democrats want the government to give away billions of pounds of its shares in Royal Bank of Scotland and Lloyds Banking Group to the general public.

The radical idea would see most of its stake in the banks shared between 46 million adults on the electoral roll.

He said: “There is a danger that when the banks return to the private sector, it is business as usual. There is a general feeling in this country that we need to get something positive in return for the bail-out.

Read More: http://www.bbc.co.uk/news/business-12661005

Something a bit different from our usual finance news.  Anthony and Miriam Abigail Flower, friends of the site, have written a children’s story called The Most Unusual Friends and it is now available on the Amazon Kindle store.

You can read Kindle books on your PC, Mac, Kindle Device,iPhone, iPad, iPod Touch, BlackBerry & Android Phone.

This first story is just $1.13 (USD), they will add more stories, if people enjoy and share this one – Buy on Amazon UK (70p) | Buy on Amazon US ($1.13)