London Money News

The Governments contraversialbenefits caps will come into effect in some parts of London this morning. Fromtoday people in the London boroughs of Bromley, Croyden, Enfield and Haringeywill see the maximum amount they can claim capped at £500 per household.

• UK

The personal allowance for income tax rises today from £8,105 to £9,440. In addition, there's good news for high earners as the 50p tax rate falls to 45p on salaries over £150,000.

Basic state pensions will increase by £2.70 per week. However, pensioner's income tax allowances have been frozen at 2012 levels, but restricted to people already claiming their pension.

• Money
• Income tax

The New Bond Street auctioneers Bonhams have been showing off a 'fancy' deep-blue diamond which they will auction off on April 24th. Blue diamonds are very rare while the term 'fancy' is used to describe its intense colour.

Two years ago, Bonhams sold another blue diamond ring for £1.9m so their experts predict this one is likely to be sold for a similar sum.

• UK
• diamond
• Bulgari

In London, the average Easter spend per family is £2432 according to research carried out by children's charity, Action for Children. Over a third of London parents are concerned about the rising costs of the Easter break.

10% of parents nationally admitted that it's a very stressful time of year and worry about keeping their children entertained. Over the Easter period, Action for Children is hosting The Big Egg Hunt in Covent Garden.

• Money
• Easter
• Action for Children

The Duchess of Cornwall joked about the cost of Coleen Rooney's wedding dress at a charity event today.

Camilla was speaking to charities about the importance of financial education at an event at Toynbee Hall, Tower Hamlets.

James Wilson, education officer at the charity, said: "The particular slide she spotted was Coleen McLoughlin, Wayne Rooney's wife.

"The question is 'how much does her wedding dress cost?' and it works out somewhere in the region of £5million, once she paid for it to be hand made and the diamonds."So she joked about just learning about being more sensible with your money."

The Duchess then visited the Bethnal Green branch of The London Community Credit Union, a not-for-profit community owned bank, which offers low cost credit personal loans and free money advice.

A Clarence House spokesman said Camilla was interested in the work of communities helping each other at a grassroots level, and in Credit Unions' financial awareness work.

• Royal
• Duchess of Cornwall

Most young people cannotafford to take up an unpaid internship in London because of the high cost ofliving in the capital, according to new research by the TUC.

A survey of over1,000 people aged between 18 and 34 found that only one in ten would consider an internship in London.

The TUC says that the costs of an unpaid internship, especially in the capital, prevent young people from poorer backgrounds getting the best jobs, and makes internships no more than 'finishing schools for the middle classes'.

• UK

House sellers' asking prices in the capital are at the highest they have ever been for the month of March according to new figures.

Property website Rightmove said asking prices here are now 9% higher than they were a year ago at more than £496,000.

• Money
• property
• house

Video from YouTube

A cyclist less than happy with the state of the roads in Islington has posted a video of his route through the borough.

Damodoublemint said: "I don't normally travel this way, I've been using a different route due to the state of the road. I reported this to Islington council 3 years ago, and received an automated response, but nothing more."

If you want to report a particularly bad pothole in your area, click here for the Fill That Hole website

• UK
• Islington
• Potholes