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Is Britain Happy?

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ITV News Poll: Are you feeling the effects of falling inflation

With news that inflation has fallen to its lowest level for 5 years, we want to know whether you think you're feeling the benefits. As our economics editor writes, falling inflation generally means good news for consumers, because prices aren't rising as fast.

But wage increases for many remain low or non-existent. So we want to know whether your weekly budget is going further.

Take our poll to tell us what you think.

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Help to Buy 'does not pose material risk' to economy

The Bank of England has cleared the Government's Help to Buy scheme, saying it "does not pose material risk to financial stability".

However, the Bank has also asked Chancellor George Osborne for extra powers to intervene in the housing market if it deems it necessary.

ITV News Economics Editor Richard Edgar is following developments.

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  1. Joel Hills

New tax rules for tech giants could affect UK firms too

The Chancellor didn't name names, but it is generally accepted he is talking about the likes of Google and Apple and Microsoft.

He is not happy with the way there are paying tax, and believes that British profits are being funneled abroad to places like Ireland, where they pay lower rates of tax, and sometimes further afield, where the rates of tax they pay is close to absolute zero.

Completely wrong, you may think, but all completely legal.

The OECD is in the process of trying to renew international tax law to come up with some sort of global consensus, but what is interesting about today is the Chancellor has clearly decided he is not going to wait.

He says there is hundreds of millions of pounds at stake, which makes it sound a bit like a one-way bet - it's not.

Remember we have our own global multinationals too. It may end up with the likes of Vodafone, BP and GSK paying less in Britain.

Johnson: You need economy to be going gang-busters

London Mayor Boris Johnson has defended the Chancellor's reforms to welfare.

Speaking during a visit to a factory in Newcastle-under-Lyme, he said:

If you want to have the cash to pay for the whole of society, then you need the economy to be going gang-busters.

The most important thing for us in the UK economy is you've got to reform welfare and it's quite right that you should be looking at ways of improving how it's spent, but you've got to get the economy moving because that's the way to pay for the whole she-bang.

– boris johnson, mayor of london

One-in-four homeowners 'fear interest rate rise'

Credit: Yui Mok/PA Wire

One in four mortgage holders fear they will be in financial trouble when interest rates start to rise, research has found.

Some 27% of those surveyed for the Building Societies Association (BSA) and charity the Money Advice Trust think they will be in difficulty when the base rate eventually moves off its historic 0.5% low.

One in 14 (7%) people said that they would be in serious financial trouble if mortgage rates and repayments changed as they expect over the next three years, while a further one in five (20%) said this would cause them slight financial problems.

Around 39% of those surveyed said they will be forced to cut spending on holidays and eating out to cope with rate rises, while one-fifth plan to reduce spending on essentials such as clothing and food.

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