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Energy price caps in the UK will increase by 2% from October 1, raising typical household bills. Meanwhile, several Japanese power suppliers are raising rates despite government subsidies. Ofgem plans to introduce tariffs with lower standing charges, but these are unlikely to reduce overall bills. Consumers are advised to submit meter readings and compare deals.
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Recent articles highlight ongoing issues with UK children's long-term savings. Over 750,000 young adults haven't claimed their child trust funds, worth an average of £2,240. Meanwhile, junior ISAs remain a popular, tax-free way for parents to save for children’s futures, with advice on how to maximize returns.
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UK households face higher energy bills as Ofgem’s price cap increases to £1,720. Experts recommend cost-saving measures like radiator reflectors, turning off unused radiators, and using smart thermostats. Meanwhile, consumers are advised to prepare for colder weather with affordable heating devices and maintenance tips to avoid costly repairs.
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The UK government is contemplating reducing the annual tax-free savings allowance from £20,000 to £10,000, aiming to boost investment in stocks. Experts warn this could harm mortgage funding and savings culture, emphasizing the need for better financial education. The decision is expected in the upcoming budget.
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A new report shows Australians are spending more on subscriptions, averaging $78 monthly, up 24% since 2024. Many are cancelling unused services amid rising costs and subscription traps. Meanwhile, experts advise switching broadband, energy, and banking to save over a31,200 annually.
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The FCA's proposed scheme to compensate victims of car finance mis-selling faces criticism from MPs, industry leaders, and consumer groups. Concerns focus on the scheme's low payouts, potential economic impact, and influence from lender profits. The scheme aims to address mis-sold agreements from 2007-2024, with payouts averaging £700, but critics argue this undervalues claims.
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Energy bills in the UK will increase by 0.2% in early 2026, driven by policy costs despite falling wholesale prices. The price cap will rise to £1,758 annually for typical households, with further increases expected in April due to network and policy levies. The government is considering support measures in the upcoming budget.
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Chancellor Rachel Reeves plans to reduce the annual cash ISA limit from £20,000 to £12,000, effective April 2027. The move aims to encourage investment but risks reducing savings and impacting mortgage funding. Experts warn it could deter responsible savers and tighten lending in the economy.
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The UK government announced a reduction in the annual cash ISA limit from £20,000 to £12,000 starting April 2027, excluding over-65s. The move aims to promote investment but faces criticism over its potential to discourage savings and increase complexity, with additional reforms to pension schemes and higher taxes on savings income.