Live updates


London kids pocketing more for their household chores

London children receive the most pocket money in England

London children are receiving more pocket money than kids anywhere else in the country. Parents in the capital are handing out an average of £8.26 a week to their kids, according to a Halifax survey of children aged between 8 and 15. Kids in East Anglia receive the lowest, £5.15 a week.

To earn the money, 65% of children do some kind of household chore, with tidying the bedroom and washing up the most common. The survey also found pocket money payouts have risen more than twice as fast as their parents' wage increases since the late 1980s.

Londoners say UK needs more homes

A new survey has found that Londoners see the greatest need for house building in the UK.

68% agree that more new homes are required - a higher proportion than the national average of 56% and those in the North where only 52% agreed.

Londoners want more house building in the UK Credit: Reuters

The findings form part of a nationwide study by financial firm Genworth highlighting the difficulties Britons face trying to get a foot on the property ladder.

It showed that 81% of British adults feel that saving for a deposit remains the key obstacle to owning a home.

1 in 13 Londoners worried about paying rent this month

If there were 13 people at your bus stop or train platform this morning, it may shock you to know that at least one of them has serious concerns about their ability to pay their rent or mortgage at the end of this month.

New figures released by Shelter have revealed not just worrying levels of debt in the capital but even more worrying levels of denial.

  • More than a third of Londoners say they're expecting to struggle or fall behind with their rent or mortgage over the next 12 months
  • More than one in five say they've not opened post if they thought it was a bill or late payment reminder.
  • And, one in six have even put letters in the bin without opening them.


Capital's Olympic legacy continues

The Government has announced that a four year goal of raising £11 billion pounds in economic benefit as part of the Olympic legacy has been met in just twelve months.

New foreign investment and firms winning contracts since last summer's events, has meant business is booming in the capital.

The total also includes £130 million of contracts won by UK companies for next year's soccer World Cup in Brazil, and the next Olympic Games, in Rio in 2016.

Why are towns like Croydon so worried about debt?

Croydon and Redhill in Surrey are two of the ten areas in the UK where people are the most worried about money.

The conclusion was drawn by debt management company PayPlan who surveyed 40,000 people.

Many families have seen their budgets squeezed. Some parts of the country are in recovery while other parts are still in decline; but even in more affluent areas if wage increases have not matched the rising cost of living then debt is still a problem.

Many people are struggling to make ends meet, so if mortgage rates rise and gas and electricity prices increase it will push many more people into problem debt.

“The issue is to get people to seek help and not take out more debt as, over time, this only makes matters worse. Once debt is managed then people can get on with their lives.”

– Jason Eaves, Payplan Director

Croydon and Redhill debt hotspots: Facts and figures

Redhill library. Credit: Google Street View

Croydon and Redhill in Surrey are two of the ten areas in the UK where people are the most worried about money.

The research, over the last 12 months, comes from debt management company PayPlan who found out:

The average amount of debt callers had was £83,465.

The amount of debt the company dealt with over the year was £3.4 billion.

Some months there were over 10,000 calls - that is the equivalent to a call for help every 20 seconds.

Redhill town centre. Credit: Google Street View
Bus station in Croydon. Credit: Google Street View
Croydon Library. Credit: Google Street View
Load more updates