A petition calling on the Treasury to give pensioners a higher tax-free earnings limit has forced a Commons debate after drawing more than 116,000 signatures.Campaigners want pensioners to benefit from a £25,140 threshold before income tax applies — double the current personal allowance of £12,570.The petition secured enough support to trigger a parliamentary discussion, but a date for the...

The government-backed savings institution National Savings and Investments is preparing to make large payouts after admitting mistakes that left customers without money to which they were entitled.Ministers will discuss the issue in Parliament as officials try to work out the final bill.Officials estimate the problems could affect roughly 37,000 customers. NS&I, which looks after about 24...

Chancellor Rachel Reeves says the government is drawing up contingency plans to shield the most vulnerable households if the war in the Middle East drives UK energy costs higher.Reeves warned the full economic fallout is still unclear but promised measures would focus on those most in need, while sticking to borrowing limits and a goal of keeping inflation and interest rates down.Households in...

Households face a sharp rise in energy costs from July, with consultancy Cornwall Insight projecting an increase of roughly £332 a year for a typical dual-fuel home.The firm estimates the annual bill under Ofgem's price cap for July to September would reach about £1,973, up from the current level of £1,641.Cornwall Insight is updating its outlook weekly because of large swings in wholesale...

Chancellor Rachel Reeves has ignited a fresh political row after urging closer economic cooperation with the EU as a route to greater resilience.Speaking at the Mais lecture hosted by Bayes Business School in London, Reeves argued the UK should deepen its economic links with Europe to shore up growth and stability.Her call has prompted sharp criticism from opponents who say seeking tighter...

The government has announced a rise in the national minimum pay that will take effect from April, with adults aged over 21 set to receive an extra 50p an hour, lifting the rate to £12.71.Chancellor Rachel Reeves said around 2.7 million workers will benefit from the increases.Younger workers will also see larger percentage gains. Pay for 18 to 20-year-olds will increase by 85p to £10.85 an...