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UK Firms, Households Pay Down Debt Again In March

U.K. businesses and home owners paid down debt again in March as borrowing from the main high street banks remains subdued.Data from the British Bankers Association showed non-financial U.K. businesses made a net repayment of 702 million pounds ($1.07 billion) in March. In February firms repaid GBP1.9 billion.Collectively, households also repaid more on mortgages than they borrowed, resulting in a net repayment of GBP328 million in March. This compares with net repayments of GBP206 million in February and GBP447 million in January. In March 2012 net mortgage lending grew GBP804 million."Economic uncertainty and subdued confidence continues to determine borrowing behaviour, with households and businesses reducing borrowing and building up deposits where possible," said David Dooks, the BBA's statistics director.The data show that the increase in lending which the government had expected from the Funding for Lending Scheme has failed to materialize. That's something the central bank and ...

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  2. Millions in India to Resume Work After Two-Day Strike

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  3. India Labor Strike Sees Mixed Response

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  4. U.K. Exports Rise in 4Q, Says Survey

    U.K. exporting activity and confidence rose in the fourth quarter of last year but the government needs to do more to help potential exporters and ensure a much need...

  5. UK Exports Rise in Fourth Quarter, More Government Help Needed -Survey

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  7. Network18, Viacom Tie up With Walt Disney in India

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  8. Network 18, Viacom Venture Ties Up With Walt Disney in India

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  9. Don't Jump the Gun When Networking

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  10. U.K. Christmas Retail Sales Underwhelming

    The crucial Christmas trading period failed to give the U.K.'s struggling retail sector a significant boost, data showed Tuesday, adding to fears that the economy co...

  11. UK Christmas Retail Sales Underwhelming - BRC

    The crucial Christmas trading period failed to give the U.K.'s struggling retail sector a significant boost, data showed Tuesday, adding to fears that the economy co...

  12. Starbucks To Pay GBP10 Million In Corporate Tax Each Of Next Two Years

    Starbucks Corp.(SBUX), which has faced criticism for the level of its U.K. taxes, said Thursday it will pay around GBP10 million ($16.1 million) in each of the next ...

  1. Cash in on Uncommon Charitable Tax Deductions

    If you think your tax deduction for charitable contributions ends when you write a check to your church or drop off that box of clothing at the Salvation Army , thin...

  2. U.K. Labour Party Seeks Regional Banking System

    The U.K.'s main opposition party will Thursday reveal its remedy for the lack of credit available to small British firms: a regional banking system that it says will...

  3. UK Labour Party Says Regional Banks Would Restore Credit Flow

    The U.K.'s main opposition party will Thursday reveal its remedy for the lack of credit available to small British firms: a regional banking system that it says will...

  4. Business Expenses That Benefit You

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  5. U.K. Businesses Call For Urgent Action in Budget

    U.K. business groups Monday warned George Osborne that time is running out for his plans to turn-around the country's economic fortunes, calling on the Treasury chie...

  6. UK Business Groups Call For Urgent Action In Budget To Promote Growth

    U.K. business groups Monday warned George Osborne that time is running out for his plans to turn-around the country's economic fortunes, calling on the Treasury chie...

  7. British banks cut lending despite Bank of England largesse

    The Bank of England's flagship plan to boost lending failed to stop a decline in bank loans late last year, adding to pressure on the central bank provide alternativ...

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