On-Money

Millions of households across Britain will pay more for their water in the coming weeks.

From April the average bill for each household for water and sewage services will increase by 7% to £312.

It is thought that those using South West Water, the most expensive in the country, will see their bills rise by 13.7%, bringing the average bill to £483.

It has been said that the extra money will be put towards maintaining pipes, sewers and treatment works, also connecting £1 million new properties to the network and preventing or reducing flooding from 'high risk homes'.

For years the water companies have been running a sub-standard service and now customers are being forced to bail them out.

Popularity: 94% [?]

MPs voted to award themselves an extra £6.5 million of taxpayers' money. It will come into effect from next month.

Every MP will be entitled to claim an extra £10,000 a year to 'communicate' with their constituants.

But in fact the money will allow politicians to pay for letters and glossy campaign leaflets at the General Election.

MPs already cost the taxpayer £86.7 million in expenses and office allowances, including £5 million on travel. Their £60,000 annual salaries cost taxpayers a further £39 million

With these extra costs it brings the total that MPs cost the public purse to £132.2 million.

Popularity: 2% [?]

The financial markets have been rocked by new evidence of meltdown in the US house market.

Sales of new homes have fallen to the lowest level in nearly seven years, plunging 35.5% since July 2005.

Making matters worse, the supply of unsold stock climbed to the highest in 16 years.

Former Chairman of The Federal Reserve Alan Greenspan, warned that the US faces a one in three chance of a recession this year.

There are growing concerns that the rising defaults of America's so-called 'sub-prime' mortgages could hit the economy hard.

Popularity: 3% [?]

What Is It?

A virtual shopping basket, containing 650 goods and services, which represent a cross-section of widely purchased goods.

Prices are collected every month at 150 points all over Britain, and aggregated into two main measures, the Consumer Prices Index, and the Retail Prices Index. The figures are used to generate the national inflation rate.

What's In It?

It's contents change once a year, giving an insight into Britains spending habits. Among the updates announced recently olive oil replaced vegetable oil, brocolli replaced Brussel sprouts, and Brie was kicked out in favour of pro-biotic drinks.

Popularity: 1% [?]

The number of households facing a choice between heating or eating has doubled in the last 2 years.

Large increases in gas and electricity bills have left nearly 4 million families having to spend at least 10% of their disposable income on heating and lighting, the definition of 'fuel poverty'.

For thousands of people the prospect of a warm comfortable home is now a luxury that they cannot afford.

Older people are particularly at risk as they are worried about the cost of running their heating in the winter, and are more prone to contacting cold-related illnesses.

Popularity: 3% [?]

Even though Ministers decided not to go ahead with the home surveys, a report published yesterday reveals that Ruth Kelly the Communications Secretary believes that ultimately the full surveys will come into force.

The Government backed down on plans to introduce £1,000 home information packs containing extensive surveys, after widespread opposition last year.

Instead a watered-down version will be introduced from June1, when sellers will have to pay about £100 for an Energy Performance Certificate giving the property a 'green rating'.

Popularity: 1% [?]

Senior staff at the upmarket Savills agency are enjoying city-style bonuses after the company announced record profits.

A bonus pool of £125 million is being shared among 4,000 employees. Most of it is expected to go to those already earning high salaries.

The company warned that as the allocation of bonuses is discretionary, some employees would receive nothing.

The higher than expected increase in profits of 31% ,have been fueled by the bumper round of City bonuses, which have helped boost the average house price in central London by 10% to £1.45 million.

Popularity: 1% [?]

From today, the face of Adam Smith replaces that of Edward Elgar on the $20 note, despite the fact that three quarters of Britons have no idea who he is.

Smith was an 18th- century philosopher and political economist, who played a key role in the intellectual movement known as the Scottish Enlightenment.

In a recent poll conducted by Virgin Money, Churchill won the vote with 52% among male contenders, with Professor Stephen Hawking in 2nd place with 8%.

On the female list the top contender was Emmeline Pankhurst, one of the founders of the British Suffragette movement.

Surprisingly the late Princess of Wales did not come out on 1st place.

Popularity: 6% [?]

The minimum wage is to increase by 17p to £5.52 an hour, an increase of 3%

The rate for 18 to 21 year olds will rise 15p to £4.60 an hour, while for 16 to 17 year olds it goes up 10p to £3.40.

Dave Prentis of the health union Unison, said that the adult rate should have been set at a minimum of £6 an hour.

But John Cridland of the Confederation of British Industry, was in favour of the governments restraint with the increases.

Popularity: 1% [?]

British Gas has agreed, after growing pressure, to scrap its controversial £5 late payment fee.

The company, which has lost a million customers over the past year, was attacked by consumer groups for introducing the outrageous charge.

The fee would have applied from March 1st, to customers who pay by cheque or cash and who do not settle their bills within 28 days.

Approximately 6 million British Gas customers pay their bills this way, with the remainder paying by direct debit.

Popularity: 24% [?]

Millions of motorists will pay more for petrol this week in the wake of the tainted fuel chaos.

Wholesale prices have surged as Asda, Tesco, and Morrisons seek new supplies to replace petrol which put thousands of cars out of action.

Motorists throughout the country are paying for the problem, with instant rises at the pumps of 3p a litre (14p a gallon), even though the problem was only in the South East.

The oil companies say that the increase is due to increased demand, but we are using the same amount of fuel.

This is about companies which already make billions in profits, finding a new way to hit motorists, and no doubt they will make even higher profits next year.

Popularity: 1% [?]

Zimbabwe's Central Bank has released a $50,000 dollar note, worth only £3, in response to the country's inflation crisis. Previously the highest value note was $10,000 Zimbabwean dollars.

In August, Central Bank slashed 3 zeros from the currency, to stop people having to use bags and large bundles of notes for small purchases.

Zimbabwe has inflation of nearly 1,600%, the highest in the world. The hyperinflation has been caused by rumours of a government freeze on wages and prices.

Popularity: 1% [?]