March Trade Deficit in the UK Narrows to £2.7N
The trade deficit of the United Kingdom during the month of March has narrowed to £2.7 billion, due to the increased number of exports to big countries such as the United States, China, and Russia. Just the previous month, the trade deficit was at £2.9 billion, according to the report that was released by the Office for National Statistics. There was an increase in the number of automotive exports that amounted to over £200 million more than what was recorded in the past month. The discrepancy from the seasonally adjusted products was recorded to be at £8.6 billion for the month of March, which is not a lot of change compared to the previous month.
3.5M Taxpayers in UK to Get Tax Rebates
There are about 3.5 million taxpayers all over the United Kingdom who will be entitled to a tax rebate in the coming weeks and they will be receiving an average amount of £379 each. There will also be about 1.6 million taxpayers who will receive news that they have not paid the right amount for their taxes and will be asked to pay back an average amount of £537 each. According to the HM Revenue & Customs, the written notices will be forwarded to the corresponding taxpayers two months ahead of time. According to Stephen Banyard from the HMRC, “We are pleased that we are able to start this process more quickly than in previous years, giving money back to those we owe and delivering certainty to those with something to pay.”
You can’t put a price on peace of mind
Unlike the majority of products, insurance is something that we hope we never have to use, particularly when it comes to our health. However, the truth is that a life and health insurance policy is there for a reason, and that is to cover us in the event that the unthinkable occurs and we are struck down with illness or – heaven forbid – something even worse. Even for people who do not have to claim on the policy, it provides one major benefit that you cannot put a price on – peace of mind. Research has shown that a significant proportion of people do not have life insurance in place, even though unexpected expense is one of the biggest fears among UK citizens. Protection policies offered by companies such as Staysure can provide a bedrock of security, and fellow family members can know that, in the sad event of a loss or illness, there is no need to worry about cost.
UK Interest Rate Still at 0.5%
The interest rate in the United Kingdom is still at its record low of 0.5 percent according to the Bank of England. In the same light, the bank has announced that it has no plans of carrying on with the quantitative easing program or more commonly referred to as the QE. Back in February, the Bank of England’s Monetary Policy Committee increased the stimulus package to a staggering £325 billion. The interest rates are still maintained at 0.5 percent for three years in a row, even when there is enough evidence for inflation. During the month of March, the Consumer Prices Index which is the indicator for inflation moved up to 3.5 percent from 3.4 percent in the previous month. The inflation rate has been way over the target rate of just 2 percent for the last 28 months. Many of the analysts, economists, and other law makers are expressing their concern over the inflation figures.
