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After the news in today's budget and the back tracking on certain UC policies it seems that if it CAN be done then WHY WASN'T IT IN THE FIRST PLACE? Originally, if you transfer from another benefit or a new claimant - NOT A PENNY FOR 6 WEEKS apart from an advance of 50% when claim approved Now: - No 7 day waiting period on new claims - Advance now full amount (not 50%) paid back over 12 months instead of 6 - Previous HB claimants now get 2 weeks grace on HB from their LA when claiming UC So all in all no waiting period and a 2 week HB grace and a cut in time for your first UC payment. Although still not great it is certainly better than before. So the question needs to be asked, and someone in power needs to ask it, WHY WAS THE INITIAL POLICY IN PLACE ALLOWED TO BE PASSED? I am certainly (as a new UC claimant from 2 weeks ago) going to contact my LA and ask the question whether I am entitled to this 2 weeks HB as what is classed as a 'new' claimant given todays budget news? Does it mean from today? last week? a month ago? define 'NEW' I am still £95.41pm worse off under UC than ESA and HB but I would not have been so ill or stressed knowing I had less of a wait and some HB to tide me over plus a full advance. Yes, UC has made claimants ill - I am one of them!
FSA chairman Lord Adair Turner has attacked the “cynical greed” of traders in the banking industry in the wake of the Libor scandal. Last month, the regulator fined Barclays £59.5m for manipulating the London Interbank Offered Rate and the Euro Interbank Offered Rate. RBS, HSBC, UBS and Citibank are also under investigation for alleged interest rate rigging. Earlier today, Bob Diamond resigned as Barclays chief executive. The Serious Fraud Office is considering bringing criminal prosecutions over the manipulation of interest rates by banks. Addressing the FSA’s annual public meeting in London today, Lord Turner (pictured) says: “The Libor scandal has caused a huge blow to the reputation of the banking industry. “The cynical greed of traders asking their colleagues to falsify their Libor submissions so that they could make bigger profits – has justifiably shocked and angered people, in particular when we are facing hard economic times provoked by the financial crisis. “But sadly it is clear that the behaviours evidenced in the Libor case were not, in the years before the crisis, confined to this specific area of financial activity.” Link: http://www.mortgagestrategy.co.uk/latest-news/lord-turner-attacks-cynical-greed-of-libor-traders/1053978.article