Latest news with #NI
BBC News
3 hours ago
- Business
- BBC News
Future of Tollymore outdoor activity centre 'under review'
Sport NI has begun a "strategic review" into the future of Tollymore National Outdoor Centre, the only facility of its kind on the island of Ireland. The Bryansford based activity centre has been closed since January following damage from Storm Éowyn, and it will remain closed while the review is NI said the current operating model for the centre is no longer financially sustainable, with the centre only generating an income of around £250,000 last year, while it cost over £1.3m to body added the review process is expected to take up to a year and will result in "a small number of local redundancies". The centre, located on the outskirts of Tollymore Forest Park, provides a range of courses in rock-climbing, hillwalking, canoeing, kayaking, mountain biking, mountaineering and orienteering."In recent years, the running costs of the Tollymore National Outdoor Centre have steadily increased and its income has reduced," according to Richard Archibald, interim chief executive of Sport NI. He said that with an "extended closure of up to a year and having explored other options, very regrettably, we have now commenced redundancy consultations with some of the centre's permanent staff".Archibald added that while the centre was never intended to be profit-making, Sport NI "have a duty to ensure value for money for the public purse and for the whole sports sector".Because of the damage caused by Storm Éowyn, he said a large re-investment would need to be made in order to re-open the centre."We cannot justify such investment when the facility is significantly under-utilised," he NI said the review would look at a wide range of options aimed at reimagining the role and function of Tollymore National Outdoor Centre "in a financially sustainable way, and ensuring it continues to develop our outdoors sector in an impactful and effective way".
Daily Mail
3 hours ago
- Business
- Daily Mail
Britain needs a tax break: Labour's lavish spending hurts jobs, work and commerce, says ALEX BRUMMER
Aspiration is terrific, but Labour's bravado about Britain being the fastest growing economy in the G7 was always hooey. Economic output is trivialised if assessed as a sports league table. Any growth at all is welcome in an uncertain world of tariffs, fragmentation and geopolitical turmoil. Raising taxes by £40billion and piling much of the cash into the public sector without productivity targets was a nonsense. Worse, the surcharge on employers' National Insurance (NI) contributions and levies on wealth penalised jobs, work and enterprise. Latest forecasts from the International Monetary Fund (IMF) show that UK growth at 1.2 per cent this year and 1.4 per cent next will lag that of the US and Canada. Despite nostalgia in some quarters for a return to the European Union, the UK's fleet-of-foot services-led economy outpaces Germany and France. The IMF has upgraded forecasts for global output this year and in 2026. In April, the Fund's projections were overshadowed by Liberation Day tariffs. But Britain, Japan, India and the EU have limited damage. The US and China are still working on a deal so, critically, a new era of beggar-thy-neighbour retaliatory actions has been averted. The brakes on globalisation have been applied. Data from Yale University's Budget Lab shows that, after the EU deal, the average tariff for goods entering the US will be 17.3 per cent, the highest since the 1930s. There is no mystery as to Donald Trump's remedy for dealing with stuttering growth. As master instructed pupil Keir Starmer in Scotland this week, the best way forward is lower taxes. Lessons of October 2024 must be learned. Every tax increase outlined, from NI and capital gains to inheritance and stamp duties on lower priced homes, stymied commerce. Simple changes to the tax system could help. Abolishing stamp duty on share trading would boost listings and confidence. Including digital expenditure in full expensing of capital spending could light a fire under AI and biotech. As wonderful as reviving tin production in Cornwall may be, spending money on an AstraZeneca plant just might have averted the pharma giant's American tilt. Captain America AstraZeneca boss Pascal Soriot has good reason to look across the Atlantic. A knighthood is one kind of recognition. But Keir Starmer's government has still to come up with a credible pharma strategy. A fixation on steel, car making and renewables has left medicines, one of Britain's most dynamic industries, in the lurch. Soriot remains tight-lipped on a move of Britain's largest listed company to New York. His current enthusiasm for America shows no bounds. A £37billion US investment strategy and a promise of local manufacturing is his ace card. AstraZeneca has two world class R&D centres and a workforce of close to 20,000 in America. It has good reason to double down on a market which represents 40 per cent of sales. Speaking to CNBC, the Astra boss also praised the US for its science and innovation. There was barely a mention of home territories in the UK and Sweden. AZ's pipeline of oncology drugs is as strong as ever with sales up 15 per cent at £9billion, contributing almost half of total revenues in the first half of the year. Next on the agenda for Soriot is an oral compound designed to take on leaders Novo Nordisk and Eli Lilly on weight loss. He believes that his company can deliver Americans an oral medicine at a cheaper price than rivals. The meltdown in first mover Novo Nordisk's share price suggests investors believe the weight loss tortoise could, eventually, catch the hare. Trading places Barclays is thriving despite a reputational hit from the Jes Staley-Epstein relationship. Goldman Sachs looks to be cooling off on the UK. But Barclays retains its place as Europe's most influential investment bank. It is a big beneficiary of volatility since Liberation Day with profits climbing by 23 per cent on the back of an industry beating 26 per cent gain on fixed interest, currencies, and commodity trading. As chief executive Venkat reiterated, success should not be an excuse for Labour to clobber banks with more tax.
Scotsman
12 hours ago
- General
- Scotsman
Home Responsibilities Protection: error may owe thousands
Thousands risk missing out on State Pension top-ups due to a government error 👀 Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... People who took time off work to care for children or family between 1978 and 2010 may be owed thousands in missing State Pension payments A government error meant many didn't receive Home Responsibilities Protection (HRP) credits, reducing their National Insurance record and pension amount Martin Lewis warns the government has stopped proactively contacting those affected On average, underpayments are worth around £5,000, but some have received backpayments exceeding £30,000 Those who suspect they're affected should check their State Pension forecast on People who took time off work to care for children or family between 1978 and 2010 are being urged by Martin Lewis to check if they're owed thousands in missing State Pension payments — with some reclaiming more than £30,000 in backpay. The MoneySavingExpert founder has warned that a government error, which went unnoticed for decades, could be depriving hundreds of thousands of a State Pension boost worth an average of £5,000. Advertisement Hide Ad Advertisement Hide Ad But most of those affected haven't been contacted, and time is running out to claim what they're owed. What's the issue? The error centres on Home Responsibilities Protection (HRP), a government scheme that ran from 1978 to 2010. It was supposed to protect the State Pensions of people — mostly mothers — who claimed Child Benefit or cared for someone long-term ill or disabled. HRP gave people National Insurance (NI) 'credits' for the years they weren't working due to caring duties. These credits count towards their State Pension entitlement. Advertisement Hide Ad Advertisement Hide Ad But due to government record-keeping failures, around 194,000 people never received those credits, meaning their NI records are incomplete and their State Pensions lower than they should be. Speaking on his podcast, Martin Lewis gave a blunt warning: 'This is an important heads-up for women aged 40 to 90, particularly those in their 60s and 70s. 'If you looked after children or a disabled person between 1978 and 2010, you were likely meant to get HRP. But many didn't — and while the government was trying to contact people, it's now stopped doing so.' Although HMRC sent over 370,000 letters to people it believed could be affected, uptake was poor. According to the Department for Work and Pensions (DWP), only 12,379 underpayments were corrected in 2024/25. Advertisement Hide Ad Advertisement Hide Ad Due to the low response rate and 'challenging' nature of correcting the error, the Government has scaled back the compensation programme. Originally, it earmarked £1.2 billion to repay affected pensioners — but this has now been slashed to just £29.8 million, suggesting most people may never see the money they're owed. Former pensions minister Sir Steve Webb has criticised the DWP's failure to fix the problem, calling the campaign a 'dismal failure'. 'The vast majority affected are women — some underpaid for decades or who even died before being paid the correct pension,' he said. 'The government's admission that most won't get their money is shameful.' How to check if you're owed money You could be eligible if: You were born between roughly 1930 and 1970 (aged 50+ now) You claimed Child Benefit or cared for someone full-time between 1978 and 2010 You have gaps in your National Insurance record You're getting less than the full State Pension (currently £221.20 a week) To find out: Advertisement Hide Ad Advertisement Hide Ad Visit to view your forecast Check if you have gaps in your NI contributions See if those gaps fall between 1978–2010, when you were a stay-at-home parent or unpaid carer If so, you can apply to backdate your HRP credits You can also contact the HMRC National Insurance helpline on 0300 200 3500. Are you struggling to make ends meet as costs continue to rise? 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.
Scottish Sun
13 hours ago
- Business
- Scottish Sun
Are you missing out on £2,212 in unclaimed cash? Forgotten bank accounts could be a goldmine
Plus we explain how you can track down other missing accounts which could make you £2,500 richer every month CASH IN Are you missing out on £2,212 in unclaimed cash? Forgotten bank accounts could be a goldmine Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) SAVERS could be missing out on £2,212 in unclaimed cash - here is how you can track yours down. Child Trust Funds are a type of tax free savings accounts, which were set up for every child born between September 2002 and January 2 2011. Sign up for Scottish Sun newsletter Sign up 1 Teens could be coming into a collective £4.7billion worth of Child Trust Fund cash Credit: Getty - Contributor The Government deposited £250 for every child born between that period or £500 if they came from a low income family. When the child turned seven, an extra £250 or £500, depending on their families' economic status, was deposited. In 2010, this was scaled back to £50 for better off households and £100 for those on a lower income. The scheme was eventually axed in 2011, was later replaced with Junior ISAs. Parents of friends can deposit up to £9,000 into the child's account tax-free. The money is usually invested into shares. HMRC previously estimated that the average amount of savings tied up in each account is £2,212. Youngsters can take control of these accounts at 16, but can not withdraw the cash until they are 18. If you think you are entitled to a Child Trust Fund, you can track it down using a Government tool. You can find this by searching for "find a Child Trust Fund" on What Does My Tax Code Mean? A Simple Guide to Your HMRC Letter You'll need to have a few personal details to hand to do the search, including your date of birth and National Insurance (NI) number. Your NI number remains the same for your entire life. It's made up of two letters, six numbers and a final letter. You can find this number on your payslips or by downloading the HMRC app, which can be downloaded on the Apple or Google Play Store. When you're done filling this out, HMRC will then send you a letter revealing what company has your Child Trust Fund. There are a number of third party groups offering to search for Child Trust Funds but it's worth noting that they will charge a fee so you might lose a chunk of your money. Other ways you may have forgotten cash And it is not just a Child Trust Fund that could have thousands squirrelled away. Millions of workers have forgotten about old pensions from previous employers. There are 3.3million lost pots worth a combined £31billion - up from 2.8million worth £26 billion two years ago, according to the Pensions Policy Institute. An easy way to track the cash down is by using the Government's free Pension Tracing Service. This can be found by visiting You could then consolidate your pension and help boost your retirement by over £20,000. You can also track down lost bank and building society accounts using free online tools. For example, My Lost Account can help customers trace missing bank account. You should get a response from providers within three months.
Scotsman
16 hours ago
- General
- Scotsman
Home Responsibilities Protection: error may owe thousands
Thousands risk missing out on State Pension top-ups due to a government error 👀 Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... People who took time off work to care for children or family between 1978 and 2010 may be owed thousands in missing State Pension payments A government error meant many didn't receive Home Responsibilities Protection (HRP) credits, reducing their National Insurance record and pension amount Martin Lewis warns the government has stopped proactively contacting those affected On average, underpayments are worth around £5,000, but some have received backpayments exceeding £30,000 Those who suspect they're affected should check their State Pension forecast on People who took time off work to care for children or family between 1978 and 2010 are being urged by Martin Lewis to check if they're owed thousands in missing State Pension payments — with some reclaiming more than £30,000 in backpay. The MoneySavingExpert founder has warned that a government error, which went unnoticed for decades, could be depriving hundreds of thousands of a State Pension boost worth an average of £5,000. Advertisement Hide Ad Advertisement Hide Ad But most of those affected haven't been contacted, and time is running out to claim what they're owed. What's the issue? The error centres on Home Responsibilities Protection (HRP), a government scheme that ran from 1978 to 2010. It was supposed to protect the State Pensions of people — mostly mothers — who claimed Child Benefit or cared for someone long-term ill or disabled. HRP gave people National Insurance (NI) 'credits' for the years they weren't working due to caring duties. These credits count towards their State Pension entitlement. Advertisement Hide Ad Advertisement Hide Ad But due to government record-keeping failures, around 194,000 people never received those credits, meaning their NI records are incomplete and their State Pensions lower than they should be. Speaking on his podcast, Martin Lewis gave a blunt warning: 'This is an important heads-up for women aged 40 to 90, particularly those in their 60s and 70s. 'If you looked after children or a disabled person between 1978 and 2010, you were likely meant to get HRP. But many didn't — and while the government was trying to contact people, it's now stopped doing so.' Although HMRC sent over 370,000 letters to people it believed could be affected, uptake was poor. According to the Department for Work and Pensions (DWP), only 12,379 underpayments were corrected in 2024/25. Advertisement Hide Ad Advertisement Hide Ad Due to the low response rate and 'challenging' nature of correcting the error, the Government has scaled back the compensation programme. Originally, it earmarked £1.2 billion to repay affected pensioners — but this has now been slashed to just £29.8 million, suggesting most people may never see the money they're owed. Former pensions minister Sir Steve Webb has criticised the DWP's failure to fix the problem, calling the campaign a 'dismal failure'. 'The vast majority affected are women — some underpaid for decades or who even died before being paid the correct pension,' he said. 'The government's admission that most won't get their money is shameful.' How to check if you're owed money You could be eligible if: You were born between roughly 1930 and 1970 (aged 50+ now) You claimed Child Benefit or cared for someone full-time between 1978 and 2010 You have gaps in your National Insurance record You're getting less than the full State Pension (currently £221.20 a week) To find out: Advertisement Hide Ad Advertisement Hide Ad Visit to view your forecast Check if you have gaps in your NI contributions See if those gaps fall between 1978–2010, when you were a stay-at-home parent or unpaid carer If so, you can apply to backdate your HRP credits You can also contact the HMRC National Insurance helpline on 0300 200 3500.
