This article titled “Wealthy pensioners asked to donate winter fuel payments to poor” was written by Hilary Osborne and agencies, for guardian.co.uk on Thursday 10th November 2011 10.26 UTC

Well-off pensioners are being asked to donate their winter fuel payments to those who are struggling to keep warm.

Every winter the government makes tax-free fuel payments to eligible people, to help towards their heating costs.

This year, pensioners aged over 80 will receive a payment of £300, while those aged under 80 will receive £200 after the government opted not to continue with a temporary increase in the payments. The payments are not means-tested, so go to all pensioners, irrespective of their wealth.

The Surviving Winter appeal is calling on those who do not need the money to donate it to a fund for those in greater need over the winter.

The “fuel-anthropy” initiative, which was previously piloted in Somerset, is being backed by groups including the Community Foundation Network and Saga, as well as famous names such as Sir Terry Wogan and Sir David Jason.

Similar schemes already exist in some areas of the country, including Cumbria’s Winter Warmth Fund.

According to official figures, 5.4m households are in fuel poverty, of which almost half are aged over 60. Some estimates suggest that about 25,400 older people died in the UK last winter due to the extreme cold, and it has been suggested that fuel poverty will kill at least 2,700 people in the coming months.

Money raised by the scheme will support local charities and community organisations, not just those helping pensioners, and donations will be accepted from all age groups.

Saga’s director-general, Dr Ros Altmann, said: “Some of our customers last year wrote to us to say they would like their winter fuel payments to help others less fortunate than themselves.

“With rising fuel costs and the government’s decision to cut the winter fuel payments this year, vulnerable older people are suffering a double whammy, so Saga is fully behind this new ‘venture, helping channel donations into the right hands.”

Sir Terry Wogan said: “This is an excellent way for local people to help some of the most vulnerable older people in their area.

“I’ll certainly pass my payment on, and encourage everybody who can to contribute towards it.”

While actor Sir David Jason said: “I wanted to pledge my payment to the Surviving Winter Appeal.

“It would be great to think that all those people who are in a position to forego part or all of their own winter fuel payment could join this great scheme and spread a little warmth.”

People wishing to make a donation can go to the Saga website or contact their local community foundation.

The appeal is a registered charity, so gift aid donations can be made and the appeal will receive tax relief.

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This article titled “Treasury making contingency plans for breakup of euro, says Cable” was written by Patrick Wintour, political editor, for guardian.co.uk on Thursday 10th November 2011 10.16 UTC

The Treasury is making contingency plans for the breakup of the euro and an “Armageddon” scenario, Vince Cable has said.

But the business secretary argued that Italy was basically solvent and the pessimism and panic gripping the markets was overdone.

He said: “We have a plan … there’s a lot of scenario planning, thinking about all possible outcomes. We have to deal with the world as it is.”

Discussing Italy, he said the country was not in the same league as Greece.

“It’s not actually got a very big deficit on its budget, its economy is basically strong – the north of Italy is very strong, an export-based economy. A few basic things right and this problem should be dealt with.

“I don’t think we should be panicking, and although the situation is very difficult, and we’re inevitable affected by it, I think the extreme pessimism and gloom really isn’t justified in this case.”

He insisted Britain was better placed than the eurozone. “We have political stability, we have financial stability. What we don’t have yet is sustained growth,” he said.

The business secretary set out the government’s plans for improving growth, and how it might cope with a European recession but he said there was “absolutely no reason” why a doomsday scenario should come to pass.

“Certainly it affects our trade and potentially, in this Armageddon narrative, it affects the banking system, but we’re not there yet … we have a very clear commitment to stabilising our own country’s finances, and for shifting the base of the economy and its investments into manufacturing.

He also insisted there was no plan for tax cuts or big extra spending in the forthcoming autumn statement.

“It’s difficult to make tax cuts in an environment where we’re trying to get budget discipline back … The chancellor is looking at all options. I’m not ruling anything out.”

Cable again set himself against plans to make it easier to fire staff as proposed in the Beecroft report, arguing to do so would be undermine consumer confidence at a time when it needs strengthening.

“I don’t think we want to create an environment where millions of people are worried about their own jobs … But there are some very good suggestions, some practical ideas [in the report] … We’ve got to look at the technical proposals and look at evidence.”

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This article titled “The value of advice” was written by Jill Insley, for guardian.co.uk on Monday 24th October 2011 15.45 UTC

Buying life insurance might seem as simple as comparing a list of policies and selecting the cheapest, but as this guide hopefully demonstrates, there is much more to consider than price. Different policies offer varying levels of cover, terms, waiting periods before you can make a claim and different types of payout.

It is particularly difficult to work out which critical illness insurance policy is best for your needs. Each operates in a slightly different way and covers a varying range of illnesses and conditions. People sometimes only learn they are not covered for a particular illness when they have been diagnosed with it and try to make a claim.

If you have any doubts or queries about what you need, even if it’s just a matter of working out how much cover to buy, you should seek help from a financial adviser. If your interest in insurance has been spurred by the purchase of a new house or remortgaging, your mortgage broker – such as London & Country Mortgages – may also be able to offer advice and sell you life insurance.

Alternatively, consider asking an independent financial adviser for help. These are specialist advisers able to provide information about all the insurance products (and other financial products) in the market. You can find a regulated adviser in your area by visiting the IFA Promotion website.

But if you want one who has attained the highest level of qualifications, look for those with further professional qualifications with the Personal Finance Society or the Institute of Financial Planning.

You may be concerned that an independent adviser would charge more than you are prepared to pay. But remember that you should be offered a choice of payment methods: either opt for the adviser to be paid in commission by the insurance company, or you can pay a fee yourself and have the commission rebated back to you.

In either case, the advice you receive may save you more money than the advice actually costs. And it could be worth its weight in gold if you need to claim.

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This article titled “Top industrial firms seek tax breaks for research and development” was written by Dan Milmo industrial editor, for The Guardian on Tuesday 8th November 2011 00.05 UTC

Leading manufacturers including Jaguar Land Rover and Caterpillar are urging the government to reform the tax regime for research and development, in a move that could create more than 7,000 new jobs and add £665m a year to the economy.

A study commissioned by the UK manufacturers’ association, the EEF, and the Society of Motor Manufacturers and Traders argues that the British economy is losing out under a tax break system for R&D that dissuades US-based and loss-making businesses from investing in new products. Under the current regime, companies receive a reduction in their corporate tax charge whereas the EEF and SMMT want to see it transformed into a direct government contribution towards R&D investment. “It would be treated very much like a grant,” said Diarmuid MacDougall, the partner at PricewaterhouseCoopers who led the study.

Paul Everitt, SMMT chief executive, said the change would produce long-term benefits for the Treasury although it will cost the government £200m per year in additional support to R&D investment. The cost to the government of the current R&D regime is about £1bn per year, which will rise to £1.2bn under the EEF and SMMT proposals. “Given that the focus from the government and the prime minister is to make the UK one of the most competitive places in the world to do stuff, this is a rounding error.” Terry Scuoler, EFF chief executive, added: “In the grand scheme of things, £200m is not a big investment just to encourage British business to invest.”

The EFF and SMMT study is supported by 36 companies including car marker JLR, construction machinery giant Caterpillar and IBM. The report argues that changing the tax regime for R&D so it increases the incentive for loss-making firms and companies based outside the UK will result in additional expenditure of £388m, with economic benefits worth £665m per year. The £200m cost to the exchequer comes from extending the tax credit to loss-making businesses, according to the report. Everitt said boosting R&D will ensure that the UK motor industry maintains a leading role in developing electric vehicles. “We have got a lead in these areas and if we ramp up investment in these areas we will not be overtaken.” The EFF’s Scuoler added that Britain’s entire manufacturing base would benefit, including companies that operate in industries such as pharmaceuticals, aerospace and life sciences.

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