Latest HMRC numbers indicate half a million more retirees paying income tax

Creative Media NewsFriday, 28 June 2024, 21:000

According to HMRC's most recent numbers, more retirees are paying income tax than ever.The number of people over the state pension age who pay income tax increased by 660,000, from 7.85 million in 2023/24 to 8.51 million in 2024/25.It implies that approximately 9 million people over 65 are now paying income tax, up from 4.9 million in 2010/11.The massive increase in retirees paying tax is partly due to a stagnant income tax, with the £12,570 personal allowance frozen since 2021.

Public debt limits future government’s investment, says Lloyds Banking Group’s Charlie Nunn

Creative Media NewsFriday, 28 June 2024, 0:000

The CEO of the UK's largest mortgage lender lays out the most significant issues for the next administration, warning that families should not expect a return to the ultra-low interest rates that have prevailed for most of the previous 16 years.The CEO of Lloyds Banking Group, the UK's largest lender, has cautioned that whoever wins the general election will be unable to drive growth by boosting government borrowing.According to Charlie Nunn, the UK's national debt has risen during the last decade and a half due to "massive shocks" such as the global financial crisis, the pandemic, the war in Ukraine, and other challenges peculiar to the UK economy.

Mortgages cost £400 more each month since last election

Creative Media NewsMonday, 24 June 2024, 21:000

According to data, first-time buyers are paying £400 more monthly on mortgage repayments than before the last general election.According to Rightmove, the average repayment has increased from £667 to £1,075 since Boris Johnson's overwhelming victory in 2019. This represents a 61% increase over a period in which salaries increased by 27%.It highlights the financial strain on individuals taking their first step onto the housing ladder, even as Rishi Sunak points to good GDP growth and falling inflation as proof that his plan is working.

Hydrogen driving: We test the fuel cell Ineos Grenadier

Creative Media NewsSunday, 16 June 2024, 0:000

Electric vehicles are the future, and everyone agrees on that. That is the mantra offered to motorists who are encouraged to convert to EVs.However, not everyone agrees that the future of motoring will be entirely dominated by plug-in electric vehicles; some believe hydrogen fuel cells may play an essential role.Ineos, owned by buccaneering boss Sir Jim Ratcliffe, is already developing a robust 4x4 EV called the Fusilier, but it is also considering hydrogen power.

Netflix will drop 16 smart TVs next month. Is YOURS listed?

Creative Media NewsFriday, 14 June 2024, 15:000

Netflix stated that its app will no longer work on some smart TVs beginning next month, forcing consumers to add a streaming device to stay connected.The world's most extensive streaming service announced that consumers will be unable to access the service on a number of obsolete Sony TVs manufactured in 2014.Users who wish to keep their devices the same in order to preserve access must pay between $20 and $50 for an Amazon Fire TV Stick, Roku, or Chromecast with Google TV.

Voters want energy bill reduction for vulnerable houses

Creative Media NewsFriday, 14 June 2024, 2:000

Voters have urged the future administration to assist the most vulnerable with their energy expenses.According to the advocacy organization Warm This Winter, over two-thirds (57%) of the population wants to see a social tariff introduced to provide cheaper energy to people in true need.While 32% were undecided or did not know whether they supported the measures, only 11% rejected them.

Epoch Times executive arrested for $67m money laundering

Creative Media NewsTuesday, 4 June 2024, 17:000

A senior executive at the Epoch Times, a conservative media outlet headquartered in New York and renowned for its vehement criticism of the Chinese government, has been apprehended on suspicion of participating in a money laundering scheme.The United States Department of Justice announced on Monday that Weidong "Bill" Guan, the outlet's chief financial officer, is accused of participating in a "sprawling, transnational scheme" to launder at least $67 million in unlawfully acquired funds for the benefit of himself and the company.

Dr Marten expects severe profit and revenue drop as US sales fall

Creative Media NewsTuesday, 28 May 2024, 4:000

Dr. Marten anticipates a substantial revenue and profit decline due to decreased United States sales.The London-listed company's sales are projected to shrink to £900 million, marking an 11% decline from the previous year, a period when it celebrated its first $1 billion milestone.

Kia’s £30,000 EV3: Affordable 372-mile electric SUV

Creative Media NewsFriday, 24 May 2024, 23:000

Kia, the brand that has successfully dominated the electric vehicle market with its award-winning and best-selling EV6, has recently unveiled its new EV3 model, designed to appeal to the lower end of the market. The compact SUV market will be introduced to the EV3, a cheaper and smaller vehicle with a "best-in-class battery range" and an extensive five-seat interior.

Petrol and diesel automobiles write-off and scrap more than EVs

Creative Media NewsThursday, 23 May 2024, 2:000

A new analysis has revealed that insurers are writing off and scrapping electric vehicles at a rate that is half that of petrol and diesel automobiles. A series of reports indicate that insurers are disposing of electric vehicles (EVs) at an alarming rate due to the unrepairable harm that minor collisions are allegedly causing to the batteries.

Truss blames Bank; markets deemed mini-Budget disastrous

Creative Media NewsTuesday, 21 May 2024, 22:000

In October 2022, the then-Chancellor Kwasi Kwarteng arrived at the temporary residence of Britain's Ambassador to Washington, Dame Karen Pierce, on a wet and windy night in Washington, D.C. He appeared to be a man without a care in the world. As the English sparkling wine poured, his extrovert hostess, who was colorfully attired, appeared equally at ease.

Drivers abusing parent and child parking spaces is shocking

Creative Media NewsThursday, 16 May 2024, 17:180

In a startling new survey, many drivers acknowledged violating one of the most significant parking lot regulations.More than a quarter (28 percent) of drivers utilize' parent and child' spaces when they do not have a child in the vehicle.This further elucidates why approximately 55% of parents need space when they visit crowded parking lots, such as retail centers and supermarkets.

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