Key Quotes - Money

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Last update: Wednesday 25th March
 
The end of the government’s matched funding scheme has failed to damage growth in the university sector, which raised 14.4 per cent more in pledges in 2011/12 than the previous year to a record £774m….The higher-education fundraising market remains dominated by Oxbridge and 22 other universities which form the ‘Russell Group’ and which account for 83 per cent of all new funds secured by universities in 2011/12….Meanwhile, universities in other ‘groups’ have seen their market share remain flat or fall. More than a quarter of universities reported an increase in income of between 50 and 100 per cent, but a greater proportion (29 per cent) reported a fall in fundraising income of more than 50 per cent.
MoneyFundraising - May 2013
 
Tesco has cemented its place as the most lucrative charity of the year partnership in the UK, smashing its £10m target for its 2012 charity partner. The supermarket chain last month announced that it raised £11.85m for Cancer Research UK, a significant leap from the £7.5m that it delivered for charity of the year partners Alzheimer’s Society and Alzheimer’s Scotland. Despite reporting the first drop in its annual profits in two decades – prompted largely by a disappointing performance in the US – Tesco’s year-on-year fundraising increase represents a more that 50 per cent rise in money to charity from the retailer.
MoneyFundraising - May 2013
 
Morrisons’ partnership with Save the Children has raised £5m since it launched in 2011, making the supermarket the largest funder of the charity’s UK work. Morrison’s has been raising money for the Families and Schools Together programme and has now extended the partnership up to January 2014. Money was raised through bake sales, fitness challenges, bucket collections and product donations. Staff also took part in Save the Children’s first Christmas Jumper Day in December 2012 and raised more than £100,000.
MoneyFundraising - May 2013
 
A survey last week found that the public's trust of charities - already very high - was increasing. We may be growing more cynical about political and commercial organisations, but charities still command our support. A poll of 1,000 found two-thirds trusted charities "quite a lot" or "a great deal". Only the armed forces, the Scouts and the Guides are more trusted institutions.
MoneySunday Telegraph 21.07.2013
 
The amount set aside by the NHS to compensate patients for medical blunders has soared by nearly a quarter in a year. A total of £22.7billion has been reserved to deal with thousands of clinical negligence claims. The number of claims rose by 11 per cent last year to 10,129, with some payouts of around £5million. Ministers have blamed the spi¬ralling costs on no-win no-fee lawyers. Others blame so-called 'claims farmers' who prowl hospitals, urging patients to sue. About a third of the compensation money paid by the NHS in compensation goes straight to lawyers, diverting cash from patient care.
MoneyDaily Mail 19.07.13
 
Some payday loans are no more than legalised robbery, with rates of interest at an unbelievable 5800% and more.
MoneyThe Sentinel, July 2nd 2013
 
Prime Minister David Cameron has announced plans for what could be ‘the biggest bilateral trade deal in history’ between the EU and the US. He announced the start of formal negotiations on a trade deal worth hundreds of billions of pounds, aimed at boosting exports and driving growth. Mr Cameron said a successful agreement would have a greater impact than all other world trade deals put together.
MoneyThe Sentinel, June 18, 2013
 
Mortgage lending leapt by nearly a quarter in May, prompting experts to predict another housing boom. Ben Thompson, from Legal & General mortgage club, said the "market as a whole is moving". He expected to see a continued spike in lending to first-time buyers. The Council of Mortgage Lenders said its data showed stronger house purchase activity than expected, revealing the highest lending for any month since October 2008.
MoneyDaily Telegraph Business News June 21 2013
 
Borrowers with any spare cash should use it to rid themselves of as much mortgage debt as possible. A mix of record mortgage rate lows and paltry High Street savings rates means it has never made so much financial sense to use a nest egg or unused salary to overpay on your home loan instead. Pay more than you normally would to your lender each month, and you'll shorten your mortgage by years - and knock thousands of pounds off your interest bill. With many lenders touting rates of less than 3pc for a range of fixes and variable-rate deals with a 25 pc to 40pc deposit, many borrowers find monthly repayments are lower than ever before.
MoneyDaily Mail June 19 2013
 
Millions of savers have been left thousands of pounds out of pocket thanks to rock-bottom interest rates and the rising cost of living, experts have warned.
If you put £10,000 in the bank five years ago and received average interest and paid basic rate tax, it would today be worth just £8,852 in real terms, according to financial information firm Moneyfacts. The research was published as the Office for National Statistics revealed that the rate of inflation rose to 2.7 per cent in May, up from 2.4 per cent in April. In contrast, workers are receiving average pay awards of just 0.9 per cent.
MoneyDaily Mail June 19 2013
 
Some of Britain’s best-known charities have expressed dismay after an investigation found they were being used by offshore trusts to shelter millions of pounds from the tax authorities. A Sunday Times investigation revealed charity groups were unwittingly being named as the beneficiaries of trusts listed in the British Virgin Islands and Cook Islands to ensure the real owners avoided scrutiny over tax. Cancer Research UK, the NSPCC, the National Trust, Greenpeace and Amnesty International were among the organisations being used, the paper said.
MoneyThe Sentinel – April 29, 2013
 
A voice recognition system for telephone banking could end the need for users to remember pin numbers or answer complex security questions. Customers of Barclays Wealth will have a 30-second conversation with an operator compared with a verified "voiceprint" which the bank says provides a more secure authentication than questions and answers…It said that more than 84 per cent of its customers have enrolled in the new system, with 95 per cent successfully verified upon first use.
MoneyDaily Telegraph 09.05.2013
 
The Government is to pump £6.5 million into projects aimed at helping separated parents "put their differences aside for the sake of the children", a work and pension minister has said. About 280,000 British families should benefit from the additional funding which is being provided to seven voluntary organisations in the first part of a £20 million drive to help parents who have split up. The support schemes include a national "virtual" internet-based mediation service hosted by the charity Relate as well as plans for parenting classes for the teenage mothers and fathers who are hardest to reach.
MoneyDaily Telegraph April 10 2013
 
More than five million families face having their heating cut off after falling behind with energy bills, an alarming report warns today. The number of households struggling to pay 'sky-high' bills has jumped by around a million in the last year, the research found. On average, indebted families owe £123 to their energy supplier. The report pointed to crippling gas and electricity costs as the reason for the increase, with the typical bill an 'eye-watering' £1,353 a year.
MoneyDaily Mail April 9 2013
 
Cutting benefits for social tenants with spare rooms is “common sense”, Tory chairman Grant Shapps said as he hit back against a major welfare squeeze. Churches, charities and campaign groups joined Labour in an assault of the biggest shake-up of the system of state help for 60 years, which starts to take effect today. But Mr Shapps insisted wide-ranging reforms were vital to tackle the deficit, would encourage people off benefits and into work, and help ease housing shortages. The under-occupancy penalty, dubbed a “bedroom tax” by opponents and a “spare-room subsidy” by ministers, has become the focus for protestors. From tomorrow around 660,000 families will lose an average £14 housing benefit a week in a move ministers hope will save £500 million a year.
MoneyThe Sentinel, April 1, 2013
 
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