UK money news stories - 23 October 2024

Last minute stampede for Isas before the Budget over fears of a looming tax raid 

Record numbers of savers are piling money into their ISA’s ahead of the Budget to protect their money from a potential increase in capital gains tax. But how many have made the last minute dash? 

UK interest rates to fall to 2.75% by next autumn, Goldman Sachs predict 

The latest predictions suggest a 98% chance of the Bank of England base rate being cut to 4.75% next month with borrowing costs to fall further next year.

Natwest bank switch offer: get £180                                                                          

Natwest’s brought back its switching incentive - although the £180 bonus is £20 less than what you could get before. You’ll need to switch to one of its Reward current accounts and meet a few other criteria - here's everything you need to know.

Half of UK adults not verifying finfluencer guidance

Some 51% of adults who use social media for investment guidance don’t check if the ‘finfluencer’ posting financial content is reliable or accurate. It comes as the FCA announced this week it was interviewing 20 influencers under caution, who may have been promoting illegal financial products.

NS&I slashes Premium Bond prize rate to 4.15%

It’s the second cut this year to the Premium Bond prize rate and means your chances of winning a cash prize in the December draw are significantly lower. Andy’s done a full analysis to show you your odds.                                                                                     

Facebook and Instagram launch celebrity ad crackdown

Meta (which owns Facebook and Instagram) is introducing facial recognition technology in a bid to prevent fraudsters using celebrities in social media scams. It’ll work by comparing images from ads flagged as suspicious with celebrities' Facebook or Instagram profile photos.

Why earning £100,000 no longer makes you rich

For many of us a £100,000 salary is the stuff of dreams. But analysis suggests it’s no longer going to make you wealthy. Thanks to inflation, it’s only worth about half as much and many of the comforts and essentials once so easily within the grasp of these ‘high’ earners have slipped out of reach. 

Map reveals how water firms are planning to hike rates by up to 84%, adding up to £352 to bills

Millions of households could see their bills increase by hundreds of pounds after suppliers asked for more cash to improve services. Check out this map to see how firms are planning to hike rates in different parts of the country.