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Regional pay plans suspended

Controversial plans to impose regional pay for health workers across the South West have been suspended.

There were widespread protests after 20 health trusts in the region formed a consortium to look at ways of setting local terms, in an effort to reduce the wage bill.

Unions have now agreed to some changes and the consortium says it will abide by national agreements for the time being.

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Cornwall Credit Union goes into liquidation

The Cornwall and the Isles of Scilly Credit Union has closed for business as it has gone into liquidation. The directors say the failure is a result of bad debts on loans made by the credit union.

It was owned and controlled by 2,100 members with total savings of £550,000. The directors blame bad debts on loans made by the credit union.

The company, which trades as Cornish Community Banking, says that all savings are protected by the Financial Services Compensation Scheme (FSCS).

You can find out more here.

If you are affected, you can post your comments on our Facebook page.

West Country (E)

Water bills to rise by 3.5% over the next year

The regulator Ofwat has announced average household water and sewerage bill in England and Wales is set to increase by 3.5% over the next year.

Households will pay an average of £388 from April 2013 to March 2014 - 0.5% above the rate of inflation.

Back in 2009, companies wanted bills rises of 10% above inflation. That didn't chime with what customers told us they wanted, so we said they could only increase bills in line with inflation.

We understand that there is huge pressure on household incomes, and any rise is unwelcome. Inflation is driving these increases.

– Regina Finn , Ofwat chief executive

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Gary Rhodes opens new restaurant in 'culinary capital' Plymouth

by Jonathan Gibson

Business leaders say Plymouth can claim to be the culinary capital of the South West following the opening of another celebrity-backed restaurant. 'Rhodes at the Dome' was officially unveiled by Gary Rhodes last night. Now the city is fast becoming a foodies' destination of choice.

South West parents face biggest rise in child-raising costs

The cost of raising a child to the age of 21 has reached £222,000 as parents pay 58% more than a decade ago, with parents in the South West seeing the biggest hike in costs, according to an annual study. Families here now pay £100,077 more per child than ten years ago.

Education and childcare remain the biggest costs, with 76% of parents reporting that they have been forced to make cuts to meet the financial demands of raising their offspring, the survey for insurer LV found.

The overall figure is more than £4,000 up on last year and £82,000 more than ten years ago, when the first annual Cost of a Child Report was published.

"The cost of raising a child continues to soar and is now at a ten-year high. Everyone wants the best for their children but the rising cost of living is pushing parents' finances to the limit.

There seems to be no sign of this trend reversing. If the costs associated with bringing up children continue to rise at the same pace, parents could face a bill of over £350,000 in ten years' time."

– Mark Jones, LV Insurance
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