POUND NOTES

A THIRD OF HOUSEHOLDS HAVE SUFFERED A FALL IN JOB INCOME

AROUND one in three people reported a drop in employment income in April, according to the IHS Markit UK Household Finance Index (HFI) – which measures overall perceptions of financial wellbeing in the working age population. The index plummeted to 34.9 in April, its lowest reading since November 2011.

Readings above 50 indicate people think their situation is improving and ones below this level suggest it is getting worse.

NATIONWIDE HELPS CHARITIES

NATIONWIDE Building Society is unlocking £7million to support charities across the UK during the coronavirus outbreak.

Around £3million is being released to around 100 charities and organisations.

A further £4million in grants will be open for applications for charities across the UK in summer and will be awarded later in 2020.

Nationwide will be providing individual grants of up to £50,000 per project. More information can be found at nationwidecommunitygrants. co.uk

SAVERS WILL NEED TO MOVE FAST TO GET A GOOD DEAL

SAVINGS deals are vanishing from the market at the fastest rate seen in records going back to 2007, according to financial information website Moneyfacts.co.uk

April saw a fall of 180 savings options month-on-month – the biggest decline Moneyfacts has on its records.

NS&I EASES BACK ON CHANGES

SAVINGS giant NS&I has ditched some plans to make products less generous, including previously announced changes to Premium Bonds.

The Treasury-backed provider, which offers a range of savings and investments products to 25 million customers, said the cancellations to its planned rate reductions will help support savers during the coronavirus pandemic.

Variable interest rate changes announced on February 17 have been cancelled – however, previously announced cuts to fixed-term products were still due to go ahead in May.