Pay continues to grow in UK but faces pressure
Average UK pay rose by 5.9%, official data suggests, while vacancies fell to their lowest since before Covid. Wage growth is slightly ahead of the previous period and was lifted by the public sector, according to Liz McKeown, director of economic statistics at the Office for National Statistics which published the figures.But some economists warned that salaries will come under pressure after increases to the amount of National Insurance employers pay came into force this month at the same time as rises to the National Minimum Wage. Meanwhile, the number of jobs on offer dropped to 781,000 in the first three months of the year, falling below pre-pandemic levels in 2020.
Yael Selfin, chief economist at KPMG UK, said: "The short-term impact of the rise in labour costs which came into effect in April, will likely put downward pressure on pay over the coming months."
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Times
2 hours ago
- Times
Winter fuel payment U-turn: bad news for single pensioners
About 600,000 single pensioners will lose their winter fuel payment this year in what experts have called the 'latest instance of the singles tax'. After last year scrapping the universal payment, worth up to £300 and previously paid to all pensioner households, the government announced a U-turn that will mean those with incomes below £35,000 will get the allowance this winter. Under the new rules, about 9 million pensioners are expected to get the winter fuel payment, up from 1.5 million last year when it was limited to those who claimed pension credit or certain other benefits. But while the payment is per household, eligibility is based on individual income. That means a couple with a combined income of £69,000 would still get the payment, while a single pensioner earning £35,000 would not. Couples where one partner earns more than £35,000 will get to keep half or two-thirds of the money, because of the way the scheme is administered. The average annual income of a pensioner couple was £49,036 in 2023-24, according to the Office for National Statistics. Between 2021 and 2024 it was highest in the southeast of England, at £59,748, and lowest in the northwest at £41,704. On average, a single female pensioner earned £22,516 and a single male pensioner £25,480. But while the income of a single pensioner is typically about half that of a couple, their energy bill is not. A single-pensioner household spent about £1,352 a year on gas and electricity in 2022-23, according to the Office for National Statistics, while a pensioner couple spent £1,669 — about 23 per cent more. This means that before the winter fuel payment is factored in, a typical single female pensioner spends about 6 per cent of her gross income on energy and a single male pensioner 5.3 per cent, compared with 3.4 per cent for a pensioner couple. Sarah Coles from the wealth manager Hargreaves Lansdown said: 'Just because you live alone, it doesn't mean your bills are halved. This is yet another example of the dreaded singles tax, which we also see with broadband and food bills.' • What is the winter fuel payment and who will get it in 2025? Who gets what Under the latest winter fuel payment rules, couples living together get £100 each. If one partner earns more than £35,000, they will share the £200 payment, but half of it will be recouped from the higher earner by HMRC, the Department for Work and Pensions (DWP) said. This means they end up with £100 between them. The money will either be deducted through a self-assessment tax return, or automatically through pay as you earn (PAYE), for those who are still working, or who have a company pension or annuity. It's not just earnings that affect how much you get — age does too. If one partner in a couple is over 80, they get £200, and their partner £100. If the person aged over 80 is a lower-earner and their partner earns more than £35,000, the couple keep £200 of the £300 allowance. But if they earn more than £35,000, they keep £100. If both partners are over 80 and earn less than £35,000, they receive the full £300. About 2 million pensioners will still be ineligible for the payment. The pension consultancy Lane Clark & Peacock estimates that 660,000 of these are single pensioners. Sir Steve Webb, from the firm, expects the number of ineligible pensioners to grow by another 500,000 within the next five years if the £35,000 threshold is frozen. Other crucial thresholds, including the points at which people start to pay income tax (£12,570) and higher-rate tax (£50,270) have been frozen until at least April 2028. But the government has pledged to maintain the triple lock, which guarantees that the state pension rises each year in line with the higher of 2.5 per cent, wages or the consumer price index measure of inflation. The new state pension for those who reached state pension age after April 2016 is £11,973 a year. If state pension keeps rising but the winter fuel payment threshold does not, more pensioners will find themselves ineligible for the benefit. The pensions minister Torsten Bell said £35,000 was 'a round number, and we do not intend to change it in the years ahead'. He added: 'Further in the future, yes, there will be questions about uprating, which will be considered in the normal way.' Bereaved pensioners who inherit their spouse's pension income are also at risk of losing their winter fuel payment in the future. This is likely to affect those who inherit an annuity or older defined benefit pension, which may include death benefits that pay a reduced income to the surviving spouse. Coles said: 'If the partner with the larger pension dies, half of their pension income might go to their spouse. They might then have over £35,000 in pension income and so lose their winter fuel allowance, despite being worse off overall. 'It's easy to assume that inheriting half of someone's pension will mean you can cover your costs, but your bills won't halve when you're living alone, so you need to have a financial plan in place for this phase of retirement. And that plan needs to factor in the loss of your winter fuel payment too.' Should you claim pension credit? The DWP has estimated that about 65 per cent of those entitled to pension credit claimed it in 2022-23, so there could still be tens of thousands of pensioners missing out on what can be a useful benefit. Pension credit, paid to about 1.36 million households, aims to help cover the living costs for those who are over state pension age and have a low income, by topping up their state pension to £227.10 a week for a single person. It also entitles people to other benefits such as the warm homes discount of £150, which is taken off your electricity bill, or the cold weather payment, worth £25 and paid if the average temperature in your area is recorded as, or forecast to be, 0C or below over seven consecutive days. You can normally claim pension credit if you have a single income of less than £227.10 a week or a joint income of less than £346.60, based on income from the state and personal pensions plus any earnings. Pension credit will then normally top up your income to this threshold. For every £500 you have in savings above £10,000, you lose £1 of your entitlement to pension credit.
The Herald Scotland
3 hours ago
- The Herald Scotland
John Watson 'elated' with CBE in King's birthday honours
Mr Watson has focused largely on philanthropic work since selling the family printing firm he had run for several decades to Multi-Color Corporation of Ohio in a multi-million-deal in 2013. By then John Watson and Company, which Mr Watson had run as managing director from the age of 28 and specialised in labelling for the Scotch whisky industry, was the largest printing business in Scotland. Read more: Since retiring Mr Watson has given significant support to a range of causes through his Watson Foundation, including Social Bite, the charity set up by friend Josh Littlejohn to tackle homelessness. The Watson Foundation provided financial backing to the campaign established by The Herald to establish a Covid memorial garden in Pollok Park, which raised nearly £250,000 for the cause. The philanthropist has also supported the Marie Curie Hospice in Glasgow and the restoration of Clyde steamer TS Queen Mary through the foundation. Mr Watson, who remains an influential figure in the Scottish business community, was awarded the CBE just seven months after he received an honorary doctorate from the University of Glasgow for his charitable work and business achievements. He said tonight that he was 'honoured and elated' to receive the CBE, noting that having been awarded the OBE 19 years ago, the latest honour to be bestowed on him 'came as a considerable surprise'.
Scotsman
9 hours ago
- Scotsman
The 6 best UK cities for enjoying the single life, with great clubs and pubs, vibrant culture and cheap rent
You may want to settle down and start a family one day, but until then you probably want to make the most of your freedom. That could mean partying the night away before your clubbing days are behind you and your weary body can no longer cope with the hangovers. Or it might mean appreciating some fine art without a young tyke clinging to your leg and trying to drag you to the nearest playground. We've compared cities around the UK, looking at those which are best for nightlife, according to Capital on Tap, but also boast excellent museums, galleries and historic landmarks to visit. We've also taken into account the culinary scene, including the number of Michelin-starred or Michelin-recommended restaurants, plus the quality of the retail therapy, including independent shops. And because you'll want to have as much money as possible to spend making the most of your singledom, we've only included cities where the average monthly rent is below the UK-wide figure of £1,335. Below is our pick of the best UK cities in which to live while enjoying the single life, based on all the above criteria. Do you agree with our list, and what cities, if any, would you add? Do you have a house hunting story or tips to share? You can now send your stories to us online via YourWorld at It's free to use and, once checked, your story will appear on our website and, space allowing, in our newspapers. 🏠 Whether you're planning to move or just curious what your home is worth, Purplebricks offers free valuations and fixed-fee selling support from local experts. 👉 Request a valuation or browse current listings in your area. 1 . Belfast - 6th Belfast is one of the best cities in the UK for nightlife, according to Capital on Tap, with 2.4 clubs and 3.8 pubs and bars per 10,000 people. It scored 4.3/5 for its nightlife and also has some great restaurants, including two with Michelin stars, along with superb museums, theatres and galleries. The average monthly rent there is £1,076, according to the latest figures from the Office for National Statistics, which is well below the UK average of £1,335. All these things combined make it the sixth best city in the UK for enjoying the single life. |) Photo:Photo Sales 2 . Newcastle upon Tyne - 5th Newcastle is the eighth best city in the UK for nightlife, according to Capital on Tap, with 2.1 clubs and a whopping 6.5 pubs and bars per 10,000 people. It scored 4.3/5 for its nightlife and also has a great foodie scene, including two Michelin-starred restaurants. Cultural highlights include the BALTIC Centre for Contemporary Art, Laing Art Gallery and Newcastle Castle. The average monthly rent there is £1,073, according to the latest figures from the Office for National Statistics, which is well below the UK average of £1,335. All these things combined make it the fifth best city in the UK for enjoying the single life. |Photo:Photo Sales 3 . Leeds - 4th Leeds is rated 4.3/5 for its nightlife by Capital on Tap, with 1.4 clubs and a 4.0 pubs and bars per 10,000 people. It also has some great restaurants, including the Michelin-recommended Ox Club, and is a cultural powerhouse of the north, being the only city outside London with both a resident opera and ballet company. Add to that four major theatres, a top arena and a packed cultural calendar, including the popular Light Night Leeds festival, and it's easy to see why you'll never find yourself short of things to do here. The average monthly rent in Leeds is £1,104, according to the latest figures from the Office for National Statistics, which is well below the UK average of £1,335. All these things combined make it the fourth best city in the UK for enjoying the single life. Leeds is pictured here during the Light Night Leeds festival in 2021, with visitors seen walking beneath the artwork Dear Leeds by James Clancy. | OLI SCARFF/AFP via Getty Images Photo: OLI SCARFF/AFP via Getty Images Photo Sales 4 . Exeter - 3rd Exeter has 0.8 clubs and 3.4 pubs and bars per 10,000 people, according to Capital on Tap, with an average rating of 4.4/5 for its nightlife. There's so much to see in this beautiful, historic city, from exploring its famous underground passages to browsing the wealth of fascinating exhibits at the Royal Albert Memorial Museum. Exeter's also been voted one of the best places in the UK for eating out, with Stage among the many excellent restaurants it boasts. The average monthly rent in Exeter is £1,288, according to the latest figures from the Office for National Statistics, which is below the UK average of £1,335. All these things combined make it the third best city in the UK for enjoying the single life. | English Heritage/Photo: English Heritage/Photo Sales
