![]() This is a more targeted form of support and eliminates the risk that supermarkets increase prices of non-capped items to compensate for losses under the cap. Instead of implementing a price cap that benefits everyone - including the wealthy - economists have suggested that the government bolster welfare payments to the poorest families. So what else could the government do to bring down food prices? Business correspondent Gurpreet Narwan takes a look. Over recent days we've reported on government discussions about supermarkets maybe introducing voluntary price caps for basic items - and we know Asda kicked back on this yesterday. Those parents will receive up to 85% of their childcare costs back before their next month's bills are due, the Department for Work and Pensions (DWP) said. Parents eligible for help through the Universal Credit system will be able to claim back up to £951 for one child and £1,630 for two or more children - an increase of 47% from the previous caps of £646 for one child or £1,108 for two or more children.Īnd parents who are eligible for support will also have some of their childcare costs paid for upfront for the first month if they either become employed or increase their work hours, in a move designed to help those struggling to take on a job or getting into debt under the current system due to the hefty upfront costs. People on Universal Credit will see their maximum childcare payments rise by nearly 50% from 28 June as the government tries to get more people back into work. She explained that lenders were pulling deals as they reassess their propositions, and they're "trying obviously not to be too low, nor too high".įamilies on benefits will be able to claim hundreds of pounds more in childcare payments from the end of June, the government has announced. Moneyfacts finance expert Rachel Springall told Sky News "volatility in the market" had returned, and fixed-term rates were now creeping up towards 6% - up from an average of 3% a year ago. "We could get an email at 2pm or 3pm saying we've got until 5pm to get our mortgage applications in at the current rate or we're going to be subject to the new pricing, and the trend seems to be upwards at the moment," he said. ![]() ![]() Since inflation figures came in higher than expected last week, lenders have pulled around 400 residential deals, according to Moneyfacts.ĭirector of R3 Mortgages Riz Malik told Sky News some lenders had been giving just a few hours' notice to brokers before withdrawing deals from the market. More now on mortgage rates following a warning to home buyers/owners this morning (7.15am post) that they should act quickly to secure a deal or renewal.
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