![\"Two](\"https://images.unsplash.com/photo-1590650516494-0c8e4a4dd67e?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDd8fGJ1c2luZXNzJTIwbWVldGluZ3xlbnwwfHx8fDE2NjMwNzEyOTU&ixlib=rb-1.2.1&q=80&w=2000\")
It’s been a long time since there’s been this much uncertainty in so many areas. In the past few months alone we’ve seen:
Against this backdrop you might be finding clients asking whether saving and investing is a smart move right now, given all the aforementioned volatility. At Multiply we always take the view that the following core areas should be taken care of first before investing:
But say your customers have budgeted properly, got an emergency fund in place and protected themselves and their family - could now be the right time for them to invest?
Here’s our take on advising those customers asking this difficult question.
Your customers need to know themselves before entering into such an unpredictable market. A key part of that process is understanding:
Attitude and ability are two very different factors. Someone may have an attitude where they might want to take lots of risks, but financially they can’t afford to. On the reverse, they may not like taking risks but could have accessible money they don’t need and could in a worst case scenario afford to lose.
Investors should understand both so they can strike the right balance between the two. We stress to prospective investors that even if they can afford to risk the money, they shouldn’t do it if they have a low attitude to risk and/or it would keep them up at night.
![](\"https://images.unsplash.com/photo-1583752028088-91e3e9880b46?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDF8fG1hcmtldCUyMGNyYXNofGVufDB8fHx8MTY2MzA3MTE3Nw&ixlib=rb-1.2.1&q=80&w=2000\")
Prospective investors also need to consider the bad times as well as the good. At the current time we’re finding some investors (who hadn’t taken advice!) encountering the following problems:
Currently, we meet many worried investors who ask “Should I change anything?”. Well the answer is ‘Maybe’, but it wouldn’t be because of the current investment climate. It would be more about whether any existing investments are suitable for them.
If their existing investments are not aligned with their risk profile, then maybe they should be considering a change, but otherwise we revert to recommending that they hang in there.
Investing can be very emotional and at times like these, the volatility can be a real test of both attitude and ability to manage fluctuations. For some, they find that they just cannot abide being invested in something that fluctuates in value. So how can you assess their attitude and ability to take risks?
![\"what’s](\"https://images.unsplash.com/photo-1516321318423-f06f85e504b3?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDR8fHJpc2slMjBjb21wdXRlcnxlbnwwfHx8fDE2NjMwNzEyMzE&ixlib=rb-1.2.1&q=80&w=2000\")
Pre 2000, risk within financial advice was as simple as asking if you had a ‘low’, ‘medium’ or ‘high’ attitude and rarely was any thought given to emotions or someone's ability to suffer losses. Today, there are numerous psychometric tools available, most of which can help a potential or existing investor pin down their attitude to risk and a few also consider the person’s ability to deal with losses.
A good risk tool will ask a number of questions (usually at least 10), have detailed descriptions of the risk profiles and also show the likely extremes of volatility that you might see. We would encourage people to pay attention to the downward volatility figures because these are a better test of their emotions in the event of losses.
So whether we are serving someone new to investing or someone with existing investments, by using a risk profiling tool, we should be able to establish their current risk profile, which should in turn indicate the type of investments they should be holding.
In summary, our core message to investors, whether new or seasoned, is that investing is a long-term game and investors need to understand themselves first to make sure that any investments held match them.
If they do, all is good and we believe investors shouldn’t be changing investments based on short-term market circumstances. Instead, they should take the long-term view, which is that ‘over time the ups will outweigh the downs’.
That being said, if an investment portfolio is unsuitable, they really should be taking advice on the most suitable action to be taken.
Volatility will always be a major factor and when it drags an investment portfolio down in value, investors need to be able to ride it out. Obviously, there are times when they will want or need to make changes, but selling when values are low is generally not advised.
If there is a positive to be taken about the current climate, then if someone does have cash available which they can afford to invest, buying in whilst markets are low can be better. Buy low, sell high is a very simple mantra to invest by and is the reason why such investments are for the longer term.
","url":"https://multiply.ghost.io/3-ways-to-help-your-customers-get-the-best-of-investing-in-the-current-market/","uuid":"1bdea71e-a5a3-48a8-bfae-7cf79eba9639","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"63203dfb755d45003dd44440"}},{"node":{"id":"Ghost__Post__62d0360f446cbf003d16253c","title":"How we generated over 250,000 digital advice recommendations (and you can too)","slug":"how-we-generated-over-250-000-digital-advice-recommendations-and-you-can-too","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2022/07/458C6BE7-512E-483D-B0C6-ED38E0E7C307-1.jpeg","excerpt":"Back in 2019, Multiply was the first holistic financial advice app to get the FCA’s regulatory approval. ","custom_excerpt":"Back in 2019, Multiply was the first holistic financial advice app to get the FCA’s regulatory approval. ","created_at_pretty":"14 July, 2022","published_at_pretty":"02 August, 2022","updated_at_pretty":"13 September, 2022","created_at":"2022-07-14T15:28:15.000+00:00","published_at":"2022-08-02T07:54:45.000+00:00","updated_at":"2022-09-13T12:52:03.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Vivek Madlani","slug":"vivek","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Vivek Madlani","slug":"vivek","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"}],"plaintext":"Back in 2019, Multiply was the first holistic financial advice app to get the\nFCA’s regulatory approval. \n\nIt was a huge achievement - nobody had fully automated financial advice before -\nand over the past three years we’ve given digital advice across pensions,\ninvestments, savings and insurance products. \n\nNow with over 250,000 recommendations delivered, I want to share what we’ve\nlearnt along the way. Here’s the good, the bad and the ugly of building a\ndigital advice business and the lessons you can take from our journey.\n\nIdentify your experts\n\n\nMy background prior to Multiply was in derivative trading, while my co-founder\nMike Curtis had been working on a PHD in astrophysics. This is us way back at\nthe start of the journey, looking a lot more fresh faced. \n\nNeither of us had given financial advice before, but we’d both engaged with it\nand believed technology could revolutionise the industry. Clearly we couldn’t\nachieve this vision alone though, so we tapped into the experience of people who\nknew the advice business best - financial advisers.\n\nA key hire we identified in the early days was Peter Fairweather (that’s him in\none of his many bright shirts above) who’s a financial adviser with over 25\nyears experience. He gave us an immediate understanding of the operational and\ncompliance aspects of delivering advice - two areas that can really keep you\nawake a night when you're trying to automate them. \n\nIt’s not just experienced advisers who’ve been essential to shaping our digital\nadvice though. Behind our advice platform there’s been product managers,\ndesigners, developers and copywriters, and all of these different skill sets\nhave played a crucial role in building the technology we have now.\n\nPick your target market and build your advice rules\n\nDefining our target market was key to creating digital advice that would scale.\nWe accepted early on that we wouldn’t be able to help everyone, so we focused\nspecifically on delivering plans to people within the 20-40 age bracket who had\npreviously been neglected by the advice industry.\n\nOnce this target market was defined we needed to formulate the advice. There\nwere two key methods that drove our decision making here.\n\nCreate clear house views \n\nThe advice had to revolve around clear ‘house views’, which can be best\ndescribed as the core principles driving our advice. These were the backbone to\nthe advice engine within our consumer-facing app and latterly the solutions\nwe’re now building for business clients.\n\nFollow a cascading needs framework \n\nWe decided to deliver our advice through a series of priorities and allocations\nof both a customer's income and assets. Different objectives and goals are fed\nin different ways, with some areas being filled before others. \n\nOur analogy loving advisers describe it like the Trevi Fountain in Rome, where\nwater cascades in several ways but the result is a perfectly designed structure.\nOnly an adviser could look at the Trevi fountain on holiday and come up with\nthat analogy. \n\nPhoto by Rafelia Kurniawan\n[https://unsplash.com/@rafeliakurniawan?utm_source=ghost&utm_medium=referral&utm_campaign=api-credit] \n/ Unsplash\n[https://unsplash.com/?utm_source=ghost&utm_medium=referral&utm_campaign=api-credit]\nCreate a culture of collaboration\n\nEveryone in the Multiply team will say it’s really powerful to mix advisers,\nengineers, product experts and designers in the same conversations. Doing so\nallows the right level of information transfer to occur, which will enable you\nto solve the challenging parts of the build down the line. And believe me, the\nchallenges can be many. \n\nDuring our time at Multiply we’ve recruited a blend of advice veterans and\nrookies, and this has really helped with first principles thinking. When we'd\ncome across complicated problems, such as correctly applying the Pension Annual\nand Lifetime Allowance rules within our advice engine, we broke down the\nchallenges into their basic elements and then reassembled them from the ground\nup. This allowed us to reverse-engineer the complicated problems and unleash\ncreative possibilities. \n\nWhen doing this exercise our advice rookies often offered fresh perspectives,\nshowing that a lack of experience can be seen as a help rather than a hindrance.\n\nThis constant collaboration amongst the Multiply team has led to the\ncross-pollination of ideas, which is vital when you’re trying to disrupt an\nindustry and provide digital advice at scale.\n\nNever stop testing, and your advice will never stop improving\n\nGet financial advice wrong and not only will your customers suffer, you could\nface prison too.\n\nThree years on from launching our app though I’m glad to say none of us are\nbehind bars, in fact we’ve not even had one advice complaint amongst our 250,000\nrecommendations. \n\nI’d put this down to rigorous testing, which was key to getting our FCA approval\nand allowing us to confidently unleash advice at scale.\n\nWhen planning our testing we regularly thought of the extremes, as these are\noften the areas that create the problems. However, don’t let the extremes become\nan obsession and don’t focus too much on the edge cases, as this will limit your\nability to digitise your advice.\n\nProviding full holistic advice on an automated basis is not an easy task. It’s a\npath full of treacherous, technical hazards and it isn’t something that's\npossible straight out of the gate. We needed to be confident in our advice, and\nto gain this confidence, we started with the areas of digital advice which were\neasier to deliver.\n\nThis was our starting point and we've strived to continuously add to this. You\nneed to be clear on what your starting point is and where you want to end up.\n\nThe future of Multiply\n\nAfter three years spent giving financial advice through our consumer-facing app,\nit’s fair to say we’ve learnt a lot. That’s why we’re now partnering with other\nbusinesses to help them launch their own digital and hybrid advice propositions. \n\nWe can help with everything from creating fact finding solutions to helping you\ngenerate your own advice. Whether you want the full advice lifecycle automation\npackage or just some of our capabilities, we can cater to your needs. \n\nIn today’s tough economic climate, closing the advice gap is more important than\never and we want to share all our technology and expertise, to bring financial\nadvice to even more people. \n\nSo, if you’re interested in discovering how your business could work with\nMultiply or you just want to find out more about our backstory, drop me a line\nat vivek@multiply.ai or book a demo on our new B2B website.\n[https://b2b.multiply.ai/]","html":"Back in 2019, Multiply was the first holistic financial advice app to get the FCA’s regulatory approval.
It was a huge achievement - nobody had fully automated financial advice before - and over the past three years we’ve given digital advice across pensions, investments, savings and insurance products.
Now with over 250,000 recommendations delivered, I want to share what we’ve learnt along the way. Here’s the good, the bad and the ugly of building a digital advice business and the lessons you can take from our journey.
My background prior to Multiply was in derivative trading, while my co-founder Mike Curtis had been working on a PHD in astrophysics. This is us way back at the start of the journey, looking a lot more fresh faced.
![](\"https://multiply.ghost.io/content/images/2022/07/1_u7Por1_oULEwl1cTOcCLcQ-1.jpeg\")
Neither of us had given financial advice before, but we’d both engaged with it and believed technology could revolutionise the industry. Clearly we couldn’t achieve this vision alone though, so we tapped into the experience of people who knew the advice business best - financial advisers.
![](\"https://multiply.ghost.io/content/images/2022/07/500B1DB4-9CA8-4EFE-8CF0-75AAB90091FF-1.jpeg\")
A key hire we identified in the early days was Peter Fairweather (that’s him in one of his many bright shirts above) who’s a financial adviser with over 25 years experience. He gave us an immediate understanding of the operational and compliance aspects of delivering advice - two areas that can really keep you awake a night when you're trying to automate them.
It’s not just experienced advisers who’ve been essential to shaping our digital advice though. Behind our advice platform there’s been product managers, designers, developers and copywriters, and all of these different skill sets have played a crucial role in building the technology we have now.
![](\"https://multiply.ghost.io/content/images/2022/07/A113826E-E0BD-4D54-8C2E-CE00CF01124F_1_105_c.jpeg\")
Defining our target market was key to creating digital advice that would scale. We accepted early on that we wouldn’t be able to help everyone, so we focused specifically on delivering plans to people within the 20-40 age bracket who had previously been neglected by the advice industry.
Once this target market was defined we needed to formulate the advice. There were two key methods that drove our decision making here.
The advice had to revolve around clear ‘house views’, which can be best described as the core principles driving our advice. These were the backbone to the advice engine within our consumer-facing app and latterly the solutions we’re now building for business clients.
We decided to deliver our advice through a series of priorities and allocations of both a customer's income and assets. Different objectives and goals are fed in different ways, with some areas being filled before others.
Our analogy loving advisers describe it like the Trevi Fountain in Rome, where water cascades in several ways but the result is a perfectly designed structure. Only an adviser could look at the Trevi fountain on holiday and come up with that analogy.
![](\"https://images.unsplash.com/photo-1562003773-795228bb2aff?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDF8fHRyZXZpJTIwZm91bnRpbnxlbnwwfHx8fDE2NjMwNzM0MTU&ixlib=rb-1.2.1&q=80&w=2000\")
Everyone in the Multiply team will say it’s really powerful to mix advisers, engineers, product experts and designers in the same conversations. Doing so allows the right level of information transfer to occur, which will enable you to solve the challenging parts of the build down the line. And believe me, the challenges can be many.
During our time at Multiply we’ve recruited a blend of advice veterans and rookies, and this has really helped with first principles thinking. When we'd come across complicated problems, such as correctly applying the Pension Annual and Lifetime Allowance rules within our advice engine, we broke down the challenges into their basic elements and then reassembled them from the ground up. This allowed us to reverse-engineer the complicated problems and unleash creative possibilities.
![](\"https://multiply.ghost.io/content/images/2022/07/E31835C6-B8FA-4571-8797-81E0A6DD03D9_1_105_c.jpeg\")
When doing this exercise our advice rookies often offered fresh perspectives, showing that a lack of experience can be seen as a help rather than a hindrance.
This constant collaboration amongst the Multiply team has led to the cross-pollination of ideas, which is vital when you’re trying to disrupt an industry and provide digital advice at scale.
Get financial advice wrong and not only will your customers suffer, you could face prison too.
Three years on from launching our app though I’m glad to say none of us are behind bars, in fact we’ve not even had one advice complaint amongst our 250,000 recommendations.
I’d put this down to rigorous testing, which was key to getting our FCA approval and allowing us to confidently unleash advice at scale.
![](\"https://multiply.ghost.io/content/images/2022/07/B36800CB-8FC5-47F9-9B34-B67494005AD0_1_105_c.jpeg\")
When planning our testing we regularly thought of the extremes, as these are often the areas that create the problems. However, don’t let the extremes become an obsession and don’t focus too much on the edge cases, as this will limit your ability to digitise your advice.
Providing full holistic advice on an automated basis is not an easy task. It’s a path full of treacherous, technical hazards and it isn’t something that's possible straight out of the gate. We needed to be confident in our advice, and to gain this confidence, we started with the areas of digital advice which were easier to deliver.
This was our starting point and we've strived to continuously add to this. You need to be clear on what your starting point is and where you want to end up.
After three years spent giving financial advice through our consumer-facing app, it’s fair to say we’ve learnt a lot. That’s why we’re now partnering with other businesses to help them launch their own digital and hybrid advice propositions.
We can help with everything from creating fact finding solutions to helping you generate your own advice. Whether you want the full advice lifecycle automation package or just some of our capabilities, we can cater to your needs.
![](\"https://multiply.ghost.io/content/images/2022/07/ALC-Image.png\")
In today’s tough economic climate, closing the advice gap is more important than ever and we want to share all our technology and expertise, to bring financial advice to even more people.
So, if you’re interested in discovering how your business could work with Multiply or you just want to find out more about our backstory, drop me a line at vivek@multiply.ai or book a demo on our new B2B website.
15 million households will face higher gas and electricity bills from today, as a new energy price cap takes effect. The price cap - which limits the amount providers can charge - is going up by £139 a year. Customers with a prepayment meter will see a £153 increase. The change comes amid rising gas prices, which have forced 9 companies to go bust so far.
Adviser view: With prices having risen so steeply, we believe there is now potentially as much savings to be had by looking at how you use utilities as opposed to reviewing just the supplier of them, e.g. turning down the thermostat by just one degree on your central heating could save around £80 per year.
Business confidence has taken a knock as rising prices and supply chain shortages threaten to create “stagflation”. Despite sounding like a game you’d play on a lads’ holiday, it actually describes a situation of zero growth and high inflation. Last seen in the 70s, stagflation is bad news for business, leaving them squeezed by high prices and low revenue.
Sainsbury’s is planning a massive Christmas hiring spree, to help it get through the seasonal rush. The retail group, which also owns Argos, needs 22,000 temporary staff including drivers, logistics workers and store staff.
Wetherspoon has suffered double its usual losses in the past year as sales slumped by 38% due to coronavirus restrictions. The pub chain also said it’s struggling to recruit staff in the aftermath of Brexit.
","url":"https://multiply.ghost.io/energy-bills-jump/","uuid":"1e107274-5254-4940-bd30-5db6da2254c8","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6156c9cb356d59003b272575"}},{"node":{"id":"Ghost__Post__615437bb356d59003b27255c","title":"Fish fight","slug":"fish-fight","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current--8-.png","excerpt":"Plus: £500 refund from BT? Hamster beating crypto traders, and mortgage lending going up.","custom_excerpt":"Plus: £500 refund from BT? Hamster beating crypto traders, and mortgage lending going up.","created_at_pretty":"29 September, 2021","published_at_pretty":"29 September, 2021","updated_at_pretty":"29 September, 2021","created_at":"2021-09-29T09:54:03.000+00:00","published_at":"2021-09-29T09:55:22.000+00:00","updated_at":"2021-09-29T09:55:22.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Fishing rights\nFrench fishing boats have accused the UK of playing politics with fishing\nrights, after three quarters of small vessels were denied permission to fish in\nBritish waters\n[https://www.reuters.com/world/uk/uk-denies-fishing-permits-three-quarters-small-french-boats-2021-09-29/]\n. It’s a fraught issue; earlier this year both France and the UK dispatched\npatrol boats to Jersey to monitor a protest flotilla of French trawlers.\n\nClaim against BT\n2 million customers who may have been overcharged for their landline\n[https://www.cityam.com/court-gives-600m-compensation-case-against-bt-the-green-light/] \nby BT will have their day in court. The £600 million case has been approved for\na full trial next month. If it’s successful, affected customers could receive\n£500 each in compensation.\n\nCrypto hamster triumphs\nTraders, take note: a hamster is beating human crypto investors\n[https://www.bbc.co.uk/news/technology-58707641] with his tactical trades. His\nlifetime performance is up 20%. Mr Goxx makes trading decisions by running on\nhis “intention wheel” and running through either the “buy” or “sell” tunnel in\nhis cage. And if you’re looking to learn from the master, you can watch his\nlivestream on Twitch.\n\nMortgages restart\nLending has increased again in August\n[https://www.reuters.com/world/uk/uk-mortgage-lending-resumes-after-tax-break-blip-2021-09-29/]\n, after a post-stamp duty holiday blip earlier this summer. Overall lending went\nup by £5.3 billion, although the number of mortgage approvals dipped slightly.\n74,453 mortgages were approved in total in August.","html":"French fishing boats have accused the UK of playing politics with fishing rights, after three quarters of small vessels were denied permission to fish in British waters. It’s a fraught issue; earlier this year both France and the UK dispatched patrol boats to Jersey to monitor a protest flotilla of French trawlers.
2 million customers who may have been overcharged for their landline by BT will have their day in court. The £600 million case has been approved for a full trial next month. If it’s successful, affected customers could receive £500 each in compensation.
Traders, take note: a hamster is beating human crypto investors with his tactical trades. His lifetime performance is up 20%. Mr Goxx makes trading decisions by running on his “intention wheel” and running through either the “buy” or “sell” tunnel in his cage. And if you’re looking to learn from the master, you can watch his livestream on Twitch.
Lending has increased again in August, after a post-stamp duty holiday blip earlier this summer. Overall lending went up by £5.3 billion, although the number of mortgage approvals dipped slightly. 74,453 mortgages were approved in total in August.
","url":"https://multiply.ghost.io/fish-fight/","uuid":"c9f07606-10f2-4c6d-a7f3-5f47f89a51fe","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"615437bb356d59003b27255c"}},{"node":{"id":"Ghost__Post__615580ed356d59003b272567","title":"Furlough ends","slug":"furlough-ends","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current--9-.png","excerpt":"Plus: house price growth eases off, 100,000 renters at risk of eviction, £500m new cost of living grants.","custom_excerpt":"Plus: house price growth eases off, 100,000 renters at risk of eviction, £500m new cost of living grants.","created_at_pretty":"30 September, 2021","published_at_pretty":"29 September, 2021","updated_at_pretty":"30 September, 2021","created_at":"2021-09-30T09:18:37.000+00:00","published_at":"2021-09-29T09:19:00.000+00:00","updated_at":"2021-09-30T09:27:10.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"End of furlough\nThe furlough scheme comes to an end\n[https://www.bbc.co.uk/news/business-58735299] today, leaving an estimated 1\nmillion people in limbo. Experts predict a small rise in unemployment after the\nsupport is withdrawn. It cost nearly £70 billion in total and kept many\nbusinesses afloat without needing to lay off staff, particularly in hard hit\nsectors like travel and hospitality.\n\nHouse price growth eases\nHouse prices are slowing down, with just 0.1% growth\n[https://www.cityam.com/uk-house-prices-growth-eases-back-to-10-per-cent-with-london-slowing-the-most/] \nbetween August and September according to Nationwide. It means prices are up 10%\nfrom September 2020. The mortgage provider also says Wales and Northern Ireland\nwere the strongest performers, while London lagged behind.\n\nAdviser view: We had expected to see the house prices slow down. In the longer\nterm, we'll be looking to see if this is just a slowdown or a turn towards\nfalling prices. We think this figure is a good barometer for the house market\nbut you need to make sure that you understand what is happening in your local\nmarket - all areas are different.\n\nEviction risk\n100,000 renters could be at risk of eviction\n[https://www.theguardian.com/society/2021/sep/30/100000-renters-in-england-risk-eviction-when-universal-credit-is-cut] \nwhen £20 Universal Credit cut comes in next week, Crisis warns. The housing\ncharity says 1 in 3 private renters in England rely on benefits. Scotland, Wales\nand Northern Ireland have extended eviction protections until next year, to give\nstruggling families some breathing space.\n\nAdviser view: If you're struggling to meet your rent, we recommend talking to\nyour landlord before you miss a payment. That way, they're more likely to be\nsympathetic.\n\nCost of living grants\nThe government has announced £500 million in grants\n[https://www.bbc.co.uk/news/business-58743920] to help families struggling with\nthe rising cost of living. Rising energy prices and the end of coronavirus\nsupport are making it hard for many to make ends meet. The grants will be\navailable from next month and will run over winter.","html":"The furlough scheme comes to an end today, leaving an estimated 1 million people in limbo. Experts predict a small rise in unemployment after the support is withdrawn. It cost nearly £70 billion in total and kept many businesses afloat without needing to lay off staff, particularly in hard hit sectors like travel and hospitality.
House prices are slowing down, with just 0.1% growth between August and September according to Nationwide. It means prices are up 10% from September 2020. The mortgage provider also says Wales and Northern Ireland were the strongest performers, while London lagged behind.
Adviser view: We had expected to see the house prices slow down. In the longer term, we'll be looking to see if this is just a slowdown or a turn towards falling prices. We think this figure is a good barometer for the house market but you need to make sure that you understand what is happening in your local market - all areas are different.
100,000 renters could be at risk of eviction when £20 Universal Credit cut comes in next week, Crisis warns. The housing charity says 1 in 3 private renters in England rely on benefits. Scotland, Wales and Northern Ireland have extended eviction protections until next year, to give struggling families some breathing space.
Adviser view: If you're struggling to meet your rent, we recommend talking to your landlord before you miss a payment. That way, they're more likely to be sympathetic.
The government has announced £500 million in grants to help families struggling with the rising cost of living. Rising energy prices and the end of coronavirus support are making it hard for many to make ends meet. The grants will be available from next month and will run over winter.
","url":"https://multiply.ghost.io/furlough-ends/","uuid":"96be2590-0891-47db-aef1-64c55ed6db02","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"615580ed356d59003b272567"}},{"node":{"id":"Ghost__Post__6152d67d8e1ebf0048789ddf","title":"Army on standby","slug":"army-on-standby","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current--7-.png","excerpt":"Plus: gov takes over Southeastern rail, warehouse workers get 30% pay rise, wfh helps women progress.","custom_excerpt":"Plus: gov takes over Southeastern rail, warehouse workers get 30% pay rise, wfh helps women progress.","created_at_pretty":"28 September, 2021","published_at_pretty":"28 September, 2021","updated_at_pretty":"28 September, 2021","created_at":"2021-09-28T08:46:53.000+00:00","published_at":"2021-09-28T08:49:37.000+00:00","updated_at":"2021-09-28T08:49:37.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Call in the troops\nThe army is on standby to deliver fuel to forecourts\n[https://www.bbc.co.uk/news/uk-58713770] which have run dry. After 4 days of\nlong queues and panic buying, 150 military tanker drivers are prepping to get\nbehind the wheel. Fuel is running low at the pumps, but remains plentiful at\nrefineries.\n\nRail takeover\nSoutheastern train services have been taken over by the government\n[https://www.theguardian.com/business/2021/sep/28/government-to-take-over-southeastern-after-serious-breach-of-franchise] \nafter an investigation found £25 million of undisclosed taxpayer funding. This\n“serious breach” by the rail company could be looked into by the Serious Fraud\nOffice. All the money has now been recovered.\n\n30% pay rise\nWarehouse workers are enjoying a 30% pay rise\n[https://www.reuters.com/world/uk/british-warehouse-worker-shortage-triggers-up-30-pay-spike-2021-09-27/] \nas bosses struggle to recruit enough staff. The warehouse sector says it needs\ntens of thousands more workers, and warns that stacked crises could hit\nstretched supply chains in the run up to Black Friday and Christmas.\n\nProgress from home\nOver half of women surveyed say working from home helps them to progress in\ntheir careers [https://www.bbc.co.uk/news/business-58708958] by making it easier\nto balance childcare with full time work. Women did two-thirds more childcare\nthan men during the first lockdown, according to the Office for National\nStatistics (ONS).","html":"The army is on standby to deliver fuel to forecourts which have run dry. After 4 days of long queues and panic buying, 150 military tanker drivers are prepping to get behind the wheel. Fuel is running low at the pumps, but remains plentiful at refineries.
Southeastern train services have been taken over by the government after an investigation found £25 million of undisclosed taxpayer funding. This “serious breach” by the rail company could be looked into by the Serious Fraud Office. All the money has now been recovered.
Warehouse workers are enjoying a 30% pay rise as bosses struggle to recruit enough staff. The warehouse sector says it needs tens of thousands more workers, and warns that stacked crises could hit stretched supply chains in the run up to Black Friday and Christmas.
Over half of women surveyed say working from home helps them to progress in their careers by making it easier to balance childcare with full time work. Women did two-thirds more childcare than men during the first lockdown, according to the Office for National Statistics (ONS).
","url":"https://multiply.ghost.io/army-on-standby/","uuid":"e9f23ac0-d0a4-4950-b81d-91914d06c2ad","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6152d67d8e1ebf0048789ddf"}},{"node":{"id":"Ghost__Post__615183d48e1ebf0048789dcf","title":"Running out of gas","slug":"running-out-of-gas","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current--6-.png","excerpt":"Plus: house prices to grow 3.5% next year? Doctors could start prescribing debt advice.","custom_excerpt":"Plus: house prices to grow 3.5% next year? Doctors could start prescribing debt advice.","created_at_pretty":"27 September, 2021","published_at_pretty":"27 September, 2021","updated_at_pretty":"27 September, 2021","created_at":"2021-09-27T08:41:56.000+00:00","published_at":"2021-09-27T08:43:12.000+00:00","updated_at":"2021-09-27T08:43:12.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Fuel shortages\nCompetition law is set to be suspended to help get petrol into pumps\n[https://www.bbc.co.uk/news/uk-58701620], following a weekend of panic buying\nand long queues at fuel stations. The move will apparently make it easier for\ncompanies to share information and prioritise the worst-hit parts of the\ncountry. The government is also considering bringing in the army to deliver\nfuel. Around half of the UKs fuel stations are empty, and many more are running\non fumes.\n\nPrice growth predictions\nHouse prices could continue to rise up to 3.5% a year\n[https://www.theguardian.com/money/2021/sep/27/uk-house-prices-forecast-to-rise-by-up-to-35-a-year-between-2022-and-2024] \nbetween 2022 and 2024, according to Hamptons.The estate agent reckons the race\nfor space is set to continue, with buyers still hankering after gardens and home\noffices. However, it thinks growth peaked in summer 2021 and will now start to\nslow down.\n\nAdviser view: This is just one estate agent’s forecast, but it’s plausible. A\nlack of properties in the market and an expectation that more people will work\nfrom home will surely have some impact on the property market over the coming\nyears.\n\nDebt doctor\nGPs could start prescribing debt advice\n[https://inews.co.uk/news/health/money-mental-health-gps-debt-advice-covid-recovery-1215965] \nand job support to help people recover from economic hardship, according to the\nSocial Market Foundation (SMF). The think tank says financial prescribing could\nbe a lifeline for those who’ve lost income. Currently, patients can be referred\nto services to help them get fit, connect with others, or find mood-boosting\nhobbies - the NHS aims to hand out 900,000 of these social prescriptions by\n2023.","html":"Competition law is set to be suspended to help get petrol into pumps, following a weekend of panic buying and long queues at fuel stations. The move will apparently make it easier for companies to share information and prioritise the worst-hit parts of the country. The government is also considering bringing in the army to deliver fuel. Around half of the UKs fuel stations are empty, and many more are running on fumes.
House prices could continue to rise up to 3.5% a year between 2022 and 2024, according to Hamptons.The estate agent reckons the race for space is set to continue, with buyers still hankering after gardens and home offices. However, it thinks growth peaked in summer 2021 and will now start to slow down.
Adviser view: This is just one estate agent’s forecast, but it’s plausible. A lack of properties in the market and an expectation that more people will work from home will surely have some impact on the property market over the coming years.
GPs could start prescribing debt advice and job support to help people recover from economic hardship, according to the Social Market Foundation (SMF). The think tank says financial prescribing could be a lifeline for those who’ve lost income. Currently, patients can be referred to services to help them get fit, connect with others, or find mood-boosting hobbies - the NHS aims to hand out 900,000 of these social prescriptions by 2023.
","url":"https://multiply.ghost.io/running-out-of-gas/","uuid":"a39afb7e-0bde-4e88-a3c0-134577512751","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"615183d48e1ebf0048789dcf"}},{"node":{"id":"Ghost__Post__614d88918e1ebf0048789dba","title":"Uber pays pensions","slug":"uber-pays-pensions","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current-6.png","excerpt":"Plus: Tips must go to staff, and engineers want to recycle buildings","custom_excerpt":"Plus: Tips must go to staff, and engineers want to recycle buildings","created_at_pretty":"24 September, 2021","published_at_pretty":"24 September, 2021","updated_at_pretty":"24 September, 2021","created_at":"2021-09-24T08:13:05.000+00:00","published_at":"2021-09-24T08:21:55.000+00:00","updated_at":"2021-09-24T08:21:55.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Uber drivers auto-enrolled\nA landmark supreme court ruling forced the company to guarantee its 70,000 UK\ndrivers a minimum hourly wage, holiday pay, and pensions. Today, Uber announced\nits drivers will now be auto-enrolled\n[https://www.theguardian.com/technology/2021/sep/24/uber-to-pay-pensions-to-all-its-uk-drivers-backdated-to-2017] \nto a pension scheme, and receive back payments. Drivers can choose to contribute\nup to 5% of qualifying earnings but will be able to opt out.\n\n\n\n\nTips must go to staff\nGovernment plans will make it illegal for hospitality firms to withhold tips\n[https://www.bbc.co.uk/news/business-58669632] from workers. If an employer\nbreaks the new rules they could be forced to pay compensation or face fines.\nHighstreet chains including Pizza Express, Cote Brasserie and Bill's, have been\naccused of keeping tips.\n\n\nCalls to recycle buildings\nBritain’s top engineers are urging the government to reuse buildings where\npossible [https://www.bbc.co.uk/news/science-environment-58667328], and to build\nusing recycled material and clean fuels. They are concerned about \"embodied\nemissions\", which is the CO2 emitted when buildings and materials are made.\nMaking cement alone causes 8% of global emissions.","html":"A landmark supreme court ruling forced the company to guarantee its 70,000 UK drivers a minimum hourly wage, holiday pay, and pensions. Today, Uber announced its drivers will now be auto-enrolled to a pension scheme, and receive back payments. Drivers can choose to contribute up to 5% of qualifying earnings but will be able to opt out.
![](\"https://multiply.ghost.io/content/images/2021/09/Adviser-view---current-1-1.png\")
Government plans will make it illegal for hospitality firms to withhold tips from workers. If an employer breaks the new rules they could be forced to pay compensation or face fines. Highstreet chains including Pizza Express, Cote Brasserie and Bill's, have been accused of keeping tips.
Britain’s top engineers are urging the government to reuse buildings where possible, and to build using recycled material and clean fuels. They are concerned about \"embodied emissions\", which is the CO2 emitted when buildings and materials are made. Making cement alone causes 8% of global emissions.
Nearly 1.5 million customers face being switched to a new energy company after their suppliers’ collapse. Avro Energy and Green went bust on Wednesday, becoming the latest casualties of soaring gas prices. So far, the big energy companies are staying afloat - but Green boss predicted that they’d soon face problems too.
Tesco has warned that empty shelves will get “ten times worse” by Christmas if the lorry driver crisis goes unaddressed. There’s a shortage of around 100,000 drivers across the industry, thanks to a triple whammy of Brexit, the pandemic and changes to tax rules. The supermarket wants the government to make it easier to recruit drivers from abroad.
In a speech to the United Nations, Boris Johnson has told the world to “grow up” and tackle the climate crisis. He was speaking to world leaders ahead of the COP26 climate summit in Glasgow next month. Carbon emissions will be 16% higher in 2030 than they were in 2010, according to UN analysis of countries’ pledges - far off the 45% cut needed to avoid disastrous climate change.
","url":"https://multiply.ghost.io/energy-firms-collapse/","uuid":"825a2ba3-01b9-4c3d-a17c-6e201b1084e7","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"614c429d8e1ebf0048789dab"}},{"node":{"id":"Ghost__Post__614aef4d6e4273003be1e451","title":"Fizz shortage","slug":"fizz-shortage","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current--4-.png","excerpt":"Plus: £1 billion in unpaid pensions and Pret’s opening in a suburb near you.","custom_excerpt":"Plus: £1 billion in unpaid pensions and Pret’s opening in a suburb near you.","created_at_pretty":"22 September, 2021","published_at_pretty":"22 September, 2021","updated_at_pretty":"22 September, 2021","created_at":"2021-09-22T08:54:37.000+00:00","published_at":"2021-09-22T08:55:25.000+00:00","updated_at":"2021-09-22T08:55:25.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Burst bubbles\nThe gas price crisis could lead to more gaps on supermarket shelves\n[https://www.bbc.co.uk/news/business-58641394], as fizzy drinks, food packaging\nand the meat industry all face a shortage of carbon dioxide (CO2). 2 major\nplants which produce CO2 have been forced to shut down amid soaring gas prices.\nAnd without their output, supply chains face running out of fizz.\n\nUnpaid pensions\nPensioners short-changed to the tune of £1 billion\n[https://www.theguardian.com/money/2021/sep/22/uk-pensioners-short-changed-by-more-than-1bn-says-watchdog] \nwere let down by human error according to the government spending watchdog. It\nsaid the catalogue of errors, rendered inevitable by complex rules and outdated\nIT systems, has meant 134,000 people have been underpaid. Those affected can\nclaim up to £8,900 each.\n\nPret’s going local\nFancy popping down to your friendly neighbourhood Pret a Manger for lunch? The\ncoffee and sandwich chain plans to open 200 new shops\n[https://www.cityam.com/suburban-takeover-pret-sets-out-plans-200-new-shops/] in\nresidential and suburban areas, aiming to double its size within 5 years. Its\nCEO says hybrid working is here to stay, meaning quieter urban trade on Mondays\nand Fridays as well as weekends.","html":"The gas price crisis could lead to more gaps on supermarket shelves, as fizzy drinks, food packaging and the meat industry all face a shortage of carbon dioxide (CO2). 2 major plants which produce CO2 have been forced to shut down amid soaring gas prices. And without their output, supply chains face running out of fizz.
Pensioners short-changed to the tune of £1 billion were let down by human error according to the government spending watchdog. It said the catalogue of errors, rendered inevitable by complex rules and outdated IT systems, has meant 134,000 people have been underpaid. Those affected can claim up to £8,900 each.
Fancy popping down to your friendly neighbourhood Pret a Manger for lunch? The coffee and sandwich chain plans to open 200 new shops in residential and suburban areas, aiming to double its size within 5 years. Its CEO says hybrid working is here to stay, meaning quieter urban trade on Mondays and Fridays as well as weekends.
","url":"https://multiply.ghost.io/fizz-shortage/","uuid":"86af3beb-b6cb-4f52-abf5-795ab7fdac17","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"614aef4d6e4273003be1e451"}},{"node":{"id":"Ghost__Post__61499af46e4273003be1e441","title":"Gas price crisis","slug":"gas-price-crisis","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current--3-.png","excerpt":"Plus: inflation pushes up government borrowing, Addison Lee goes all-electric, right to work from home.","custom_excerpt":"Plus: inflation pushes up government borrowing, Addison Lee goes all-electric, right to work from home.","created_at_pretty":"21 September, 2021","published_at_pretty":"21 September, 2021","updated_at_pretty":"21 September, 2021","created_at":"2021-09-21T08:42:28.000+00:00","published_at":"2021-09-21T08:44:01.000+00:00","updated_at":"2021-09-21T08:44:01.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Price cap stays\nOfgem and Business Secretary Kwarsi Kwarteng have confirmed that the price cap -\nwhich limits how much you pay for energy - will remain in place\n[https://www.bbc.co.uk/news/business-58634106]. Energy providers are struggling\namid soaring gas wholesale prices, but can’t pass on the costs to their\ncustomers. The current price cap is £1,138 a year, but is set to rise to £1,277\nin October.\n\nInflation bites\nGovernment borrowing went up unexpectedly in August\n[https://www.bbc.co.uk/news/business-58604552], as interest payments rose on the\nback of higher inflation. The costs of coronavirus, coupled with a lower tax\ntake, have pushed government debt to more than £2.2 trillion, or about 97.6% of\nGDP. When inflation goes up, this debt becomes more expensive.\n\nAll-electric taxis\nWant an emission-free ride? You’ll soon be able to hail an electric Addison Lee.\nThe taxi company has pledged to electrify by 2023\n[https://www.cityam.com/london-taxi-giant-addison-lee-goes-fully-electric-by-pumping-160m-in-4000-cars/]\n, shifting its 4,000-strong fleet onto battery power. It’ll put 200 electric\nvehicles on the road every month from November.\n\nWorking from home\nThe right to request flexible working will become law\n[https://www.cityam.com/uk-employees-to-be-allowed-to-work-from-home-from-day-one-under-new-proposals/] \non Thursday, allowing any employees to put in a request from their first day at\na new job. Before the pandemic, you had to accrue 26 weeks of service before\nasking to work from home.","html":"Ofgem and Business Secretary Kwarsi Kwarteng have confirmed that the price cap - which limits how much you pay for energy - will remain in place. Energy providers are struggling amid soaring gas wholesale prices, but can’t pass on the costs to their customers. The current price cap is £1,138 a year, but is set to rise to £1,277 in October.
Government borrowing went up unexpectedly in August, as interest payments rose on the back of higher inflation. The costs of coronavirus, coupled with a lower tax take, have pushed government debt to more than £2.2 trillion, or about 97.6% of GDP. When inflation goes up, this debt becomes more expensive.
Want an emission-free ride? You’ll soon be able to hail an electric Addison Lee. The taxi company has pledged to electrify by 2023, shifting its 4,000-strong fleet onto battery power. It’ll put 200 electric vehicles on the road every month from November.
The right to request flexible working will become law on Thursday, allowing any employees to put in a request from their first day at a new job. Before the pandemic, you had to accrue 26 weeks of service before asking to work from home.
","url":"https://multiply.ghost.io/gas-price-crisis/","uuid":"fb89ed44-e8c9-45e6-bafc-8d5d005281a4","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"61499af46e4273003be1e441"}},{"node":{"id":"Ghost__Post__61484f4c6e4273003be1e425","title":"Rescue loans for gas suppliers","slug":"rescue-loans-for-gas-suppliers","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/09/Header-image---current--1--1.png","excerpt":"Plus: house prices increase by £15, $100bn climate goal “tough” to meet, office workers return in loungewear.","custom_excerpt":"Plus: house prices increase by £15, $100bn climate goal “tough” to meet, office workers return in loungewear.","created_at_pretty":"20 September, 2021","published_at_pretty":"20 September, 2021","updated_at_pretty":"20 September, 2021","created_at":"2021-09-20T09:07:24.000+00:00","published_at":"2021-09-20T09:11:46.000+00:00","updated_at":"2021-09-20T09:11:46.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Gas bailouts\nEnergy suppliers, including Bulb - the UK’s sixth largest supplier - might need\nemergency bailouts [https://www.bbc.co.uk/news/business-58620167] just to keep\nthe heating on this autumn. 4 smaller companies have already gone bust. The\ngovernment is holding crisis talks this morning to discuss state-backed rescue\nloans. Why? Gas wholesale prices have skyrocketed 250% since January, with an\nespecially steep hike since August.\n\nAdviser view: “If a supplier fails, the energy watchdog, Ofgem, will make sure\nthat household supplies continue and customers will not lose any money owed to\nthem”\n\nHouse prices level off\nAsking prices for properties in the UK increased by just £15\n[https://www.cityam.com/buyers-face-hot-competition-average-house-prices-all-time-high/] \nin August, according to Rightmove. The average home now costs £338,462 when it\nfirst comes to market. 14% more hore homes were listed in the first 2 weeks of\nSeptember, compared to the first 2 weeks of August, which could help to ease\nsome of the competition between buyers.\n\nAdviser view: “This data shows price growth slowing down, which was expected. We\nhave also seen an increase in the number of properties coming on to the market,\nboosting supply and potentially reducing pressure on prices.”\n\nClimate finance goals\nBoris Johnson says there’s a 60% chance of raising $100 billion\n[https://www.theguardian.com/global-development/2021/sep/20/meeting-cop26-finance-goals-going-to-be-tough-says-boris-johnson] \nto help developing nations cope with climate change and transition to low-carbon\ntechnologies. This $100bn fund, raised from richer nations, is a key part of the\nCOP26 climate summit in November. But the PM says it’ll be “tough” to secure the\nfunding.\n\nOffice loungewear?\nSales of leggings, jogging bottoms and fleece are continuing to climb as workers\nreturn to the office, still clad in their elasticated waists. Employers are \nripping up dress codes\n[https://inews.co.uk/news/consumer/office-dress-codes-workwear-bosses-rules-working-frrom-home-staff-return-1206005] \nto allow more casual clobber in the workplace, according to HR experts. And\nretailers are tuned in; M&S recently announced it’s no longer selling suits at\nhalf of its stores.","html":"Energy suppliers, including Bulb - the UK’s sixth largest supplier - might need emergency bailouts just to keep the heating on this autumn. 4 smaller companies have already gone bust. The government is holding crisis talks this morning to discuss state-backed rescue loans. Why? Gas wholesale prices have skyrocketed 250% since January, with an especially steep hike since August.
Adviser view: “If a supplier fails, the energy watchdog, Ofgem, will make sure that household supplies continue and customers will not lose any money owed to them”
Asking prices for properties in the UK increased by just £15 in August, according to Rightmove. The average home now costs £338,462 when it first comes to market. 14% more hore homes were listed in the first 2 weeks of September, compared to the first 2 weeks of August, which could help to ease some of the competition between buyers.
Adviser view: “This data shows price growth slowing down, which was expected. We have also seen an increase in the number of properties coming on to the market, boosting supply and potentially reducing pressure on prices.”
Boris Johnson says there’s a 60% chance of raising $100 billion to help developing nations cope with climate change and transition to low-carbon technologies. This $100bn fund, raised from richer nations, is a key part of the COP26 climate summit in November. But the PM says it’ll be “tough” to secure the funding.
Sales of leggings, jogging bottoms and fleece are continuing to climb as workers return to the office, still clad in their elasticated waists. Employers are ripping up dress codes to allow more casual clobber in the workplace, according to HR experts. And retailers are tuned in; M&S recently announced it’s no longer selling suits at half of its stores.
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