Latest news with #LivingWage
Daily Mirror
3 days ago
- Business
- Daily Mirror
Parents missing out on official scheme that could save £2,000
Many parents are missing out on a scheme that could save up to £2,000 a year for each child, a payroll specialist says. Robert King, director of nanny payroll services at Nannywage Ltd, is encouraging parents to make use of the lesser-known facility. And he said it could save them hundreds on childcare costs this summer, reports Lancs Live. Robert said: "The Tax-free Childcare Scheme allows working parents to save up to £2,000 per child annually on approved childcare costs, with the savings capped at £500 every three months, or £1,000 for children with disabilities. "Over the summer holidays, parents can benefit significantly, as the scheme provides a government top-up of £2 for every £8 deposited into the account. This is a great way to manage rising childcare costs while keeping flexibility to withdraw unused funds if plans change." According to the director, it does not take long at all to sort. Robert said: "Families can apply online for Tax-free Childcare through the government website in just 20 minutes. Once the account is set up, parents can deposit money immediately and use it to pay for nurseries, childminders, summer activity clubs, and other approved providers. Any unused money can be withdrawn at any time." There are criteria to take part. To qualify, each parent must earn at least 16 hours per week at the National Minimum Wage or Living Wage, but no more than £100,000 annually. The scheme is not available to those receiving Tax Credits, Universal Credit, or childcare vouchers. For self-employed individuals or directors, proof of income, such as accountant statements, invoices, or bank statements, may be required to confirm eligibility. The scheme supports children aged 11 or under, or up to 16 if they have disabilities. Eligibility ends on September 1 following the child's 11th or 16th birthday, depending on their circumstances. It comes as a recent study has shown that 61% of parents feel the strain to overspend during the summer holidays, with 51% worried they won't be able to afford a holiday this year. The average weekly cost of childcare has risen by 11.41% since 2023.
Leader Live
5 days ago
- Business
- Leader Live
Millions of workers could see £6,000 boost to pension pots
Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years. The Government plans to double the number of UK pension megafunds by 2030. This could result in an investment of £50 billion in infrastructure projects, which the Treasury hopes will boost the economy and drive up higher returns for savers. Since taking office we've delivered pay rises for over 3 million workers by increasing the National Minimum and Living Wage, and secured trade deals with key international partners. Today I spoke to the unions about our ongoing commitment to working people. Chancellor Rachel Reeves said: 'We're making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the plan for change in action.' The Treasury said the schemes are expected to save £1 billion a year through economies of scale and improved investment strategies. Under the reforms, the local government pension scheme will be consolidated, reducing the current 86 administering authorities into six pools. Deputy Prime Minister Angela Rayner said: 'The untapped potential of the £392 billion local government pension scheme is enormous. Recommended reading: 'Through these reforms, we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our plan for change.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at consultants LCP (Lane Clark & Peacock), described it as a 'truly a red letter day for pension schemes, their members and the companies who stand behind them'. He said: 'The Government has clearly been bold in this area and this opens up the potential for this surplus money to be used more productively to benefit scheme members, firms and the wider economy.'
South Wales Guardian
5 days ago
- Business
- South Wales Guardian
Millions of workers could see £6,000 boost to pension pots
Reforms in the Pension Schemes Bill propose that multi-employer defined contribution pension schemes and local government pension scheme pools operate at megafund level, managing at least £25 billion in assets within the next five years. The Government plans to double the number of UK pension megafunds by 2030. This could result in an investment of £50 billion in infrastructure projects, which the Treasury hopes will boost the economy and drive up higher returns for savers. Since taking office we've delivered pay rises for over 3 million workers by increasing the National Minimum and Living Wage, and secured trade deals with key international partners. Today I spoke to the unions about our ongoing commitment to working people. Chancellor Rachel Reeves said: 'We're making pensions work for Britain. These reforms mean better returns for workers and billions more invested in clean energy and high-growth businesses – the plan for change in action.' The Treasury said the schemes are expected to save £1 billion a year through economies of scale and improved investment strategies. Under the reforms, the local government pension scheme will be consolidated, reducing the current 86 administering authorities into six pools. Deputy Prime Minister Angela Rayner said: 'The untapped potential of the £392 billion local government pension scheme is enormous. Recommended reading: 'Through these reforms, we will make sure it drives growth and opportunities in communities across the country for years to come – delivering on our plan for change.' Sir Steve Webb, a former Liberal Democrat pensions minister who is now a partner at consultants LCP (Lane Clark & Peacock), described it as a 'truly a red letter day for pension schemes, their members and the companies who stand behind them'. He said: 'The Government has clearly been bold in this area and this opens up the potential for this surplus money to be used more productively to benefit scheme members, firms and the wider economy.'
RTÉ News
7 days ago
- Business
- RTÉ News
Event to debate AI risks, potential for unemployed people
The risks and potential of artificial intelligence (AI) for unemployed people will be debated at the annual delegate conference of the Irish National Organisation of the Unemployed (INOU). The conference, which takes place in Dublin, will focus on the potential affects of AI, digitalisation and technological change on the world of work and public services amid potentially dramatic changes to the nature of work and accessing employment. Delegates will debate a motion calling on the Government to ensure any use of AI in the public employment service involves service users in the decision making and evaluation processes of its usage. Another motion will call on the Government to keep its promise to ensure that the Living Wage replaces the National Minimum Wage. Delegates will urge the Government to ensure that unemployed people have access to the full range of information, services and supports that are available to them when they become unemployed or sign on. Additionally, the INOU will call for the benchmarking of all social welfare rates at a level that is sufficient to lift people above the poverty line and to reverse the doubling of the penalty rate for people on a jobseekers payment, introduced in 2024. The conference will be opened by Minister for Social Protection Dara Calleary. "Digitalisation and technological change is something that has become a driving force for my department," Mr Calleary said. "In addition, our public employment service is learning and evaluating where generative AI can best support the delivery of employment services to jobseekers and to employers," he added.
Glasgow Times
27-05-2025
- Politics
- Glasgow Times
'The future of an essential service is under threat'
This is a school so often filled with joy, resilience, and promise, a place that serves children and young people with some of the most complex additional support needs in Scotland. But behind that warmth lies a deeply troubling reality: the very future of this essential service is under threat. East Park is one of just seven specialist schools in Scotland offering care and education to children whose needs cannot be met in mainstream settings. These schools are national assets. They are lifelines for families. Yet, despite the Scottish Government's constant rhetoric about children's rights, social justice, and closing the attainment gap, these schools appear to have been forgotten. East Park has delivered outstanding specialist education on the same Glasgow site for over 150 years. But it now faces a financial cliff edge. The school has historically received £1.3 million in core grant funding, part of a modest £11 million split between all seven schools. That grant will be withdrawn in 2028, with no plan to replace it. In any properly functioning education system, this would trigger urgent action. Instead, we are met with confusion and silence. When East Park staff raised the issue with the Cabinet Secretary for Education, they were not encouraged by her response. That's not just disappointing, it's deeply concerning. East Park, a charitable school, is already feeling the squeeze. Like many organisations, it faces rising costs from VAT, the Living Wage, and national insurance contributions. With grant funding disappearing, the school is being forced to pass costs onto already-stretched local authorities like Glasgow City Council by raising placement fees. It's a short-term fix that pushes the burden further down the chain and risks destabilising vital provision. The recent Audit Scotland report confirms what we already know: local authorities are struggling to deliver core services under mounting financial pressure. Against this backdrop, expecting a charity like East Park to fundraise just to keep running is unjust. Fundraising should be for enhancing pupil experiences like specialist trips, therapy, or learning tools - not to keep the heating on. There is a better way. Legal expert Iain Nisbet has argued persuasively that schools like East Park should be designated centres of national excellence and funded centrally, just like Jordanhill School. That model provides stability and reflects the national importance of this specialist provision. The Scottish Government's own strategy, The Right Help at the Right Time in the Right Place, sets an ambitious target: that by 2026, Scotland will be a world leader in educating children with complex additional support needs. Shaped by the 2012 Doran Review, the strategy promises inclusive, efficient, high-quality services delivered early, locally, and in national partnership. Yet East Park's reality is a world apart. If we are to take that vision seriously, abandoning East Park and its sister schools would be a betrayal of everything the strategy stands for. If the SNP Government is truly committed to equity and inclusion, it must act - and act now. East Park's future cannot depend on bake sales or council bailouts. It deserves stable, central funding and the dignity of a government that keeps its promises to the most vulnerable. I will be writing to the Minister and calling for a members' debate. But more than that, I will continue standing up for East Park and for every child across Scotland who deserves not to be forgotten.
