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Life is unpredictable, and securing the financial future of your loved ones is one of the most critical responsibilities. Life insurance plans are essential tools that provide financial protection and peace of mind.

However, understanding the differences between these plans and selecting the right coverage can take time and effort. This article explores everything you need to know about life insurance plans to help you make an informed decision.

Permanent Life Insurance and Term Insurance: An Overview

Life insurance comes in various forms and can be divided into two main categories: Permanent and term life insurance.

Permanent Life Insurance

A permanent life insurance plan is a contract between the policyholder and the insurer. It generally provides coverage for the policyholder’s entire life, as long as the premiums are paid. Depending on the type of policy, policyholders may also receive maturity benefits. Some common types of permanent life insurance include Whole Life Insurance and ULIPs (unit-linked insurance plans).

6 Key Features of Permanent Life Insurance

Let’s look at the top features of life insurance in India.

No Expiry

Unlike term life insurance, permanent life insurance remains active for the policyholder’s entire life, offering lifelong protection.

Death Benefit

Upon the policyholder’s death, the death benefit amount is paid as a lump sum to the nominees.

Cash Value Accumulation

Some types of permanent life insurance (such as Whole Life Insurance) generate cash value over the term. The policyholder can borrow or withdraw from this generated cash value.

Investment Component

In ULIPs, a part of the premium is invested in market-linked funds, such as equity, debt, etc. This helps the policy to generate returns based on the market performance.

Tax Benefits

The amount received as death benefit by beneficiaries is generally tax-free as governed under Section 10(10D) of the Income Tax Act.

Estate Planning

Estate planning is often associated with permanent life insurance. It can help policyholders leave a legacy for their heirs or help pay for estate taxes, ensuring that wealth is passed on effectively.

Term Insurance

Term insurance is a financial instrument that provides life coverage for a certain period of time (known as the policy term). It is considered one of the most affordable and simplest forms of life insurance. It provides extensive coverage with relatively low premiums compared to other life policies. Some common types include Level Term Insurance, Increasing Term Insurance, Decreasing Term Insurance, Return of Premium (ROP) Term Insurance and Convertible Term Insurance.

4 Key Features of Term Insurance

Let’s look at the top features of term insurance in India.

Legally Binding Agreement

A term insurance policy is an agreement between the insurer and the policyholder.

Death Benefits

Unlike a permanent life insurance policy that offers maturity benefits, term insurance only provides financial security to the nominees in the event of the insured’s demise.

Tax Benefits

The premiums paid for term plans are eligible for tax deduction under Section 80C up to ₹1.5 Lakh. The death benefit paid to beneficiaries is generally tax-free under Section 10(10D) of the Income Tax Act.

Flexible Coverage Options

Term insurance plans are highly flexible. They allow policyholders to increase or decrease the sum assured, policy term, add valuable riders, etc., based on their changing needs or circumstances.

Conclusion

Choosing the right policy—whether life insurance or term insurance is a critical decision that can shape your family’s financial future. While life insurance offers dual protection and savings benefits, term insurance stands out for its affordability and simplicity. By assessing your financial goals, budget, and family’s needs, you can select a policy that provides peace of mind and a secure future for your loved ones.

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Choosing the Right Coverage: Permanent Life Insurance vs Term Life Insurance

Major government contractors are pushing the costs of rising national insurance (NI) and higher wage bills back onto the Treasury, prompting concerns over the ultimate burden on taxpayers.

Cleaning and facilities management groups such as Churchill Group and Mitie, together with construction giant Mace, are among those negotiating with Whitehall to pass on the financial impact of April’s employment-related tax increases.

From next spring, employers’ NI contributions climb from 13.8% to 15% and the national living wage rises from £11.44 to £12.21 an hour. While private-sector providers with commercial clients face trimming their workforce or making other cost savings, leading outsourcers serving the public sector are securing higher contract rates instead. Many already have contract clauses allowing price reviews if “legislative increases” in labour costs occur, while others are renegotiating to protect narrow margins.

Churchill Group, which cleans railway carriages for train companies under Department for Transport oversight, has confirmed it is raising rates to offset wage and NI rises. Mitie expects to recoup 60% of its additional NIC bill—about £35 million—through similar pass-through clauses. Mace will open discussions with government departments to recover costs for building and infrastructure projects, including hospitals.

Government sources say they have little choice but to pay up rather than cut back on public services. Some fear a wave of cost increases across outsourced contracts next year, especially as the Treasury’s own analysis suggests the NI changes will also swell operating costs for major retailers such as Tesco and Amazon by billions of pounds.

Business lobbying groups, including the British Retail Consortium, have warned that the “sheer scale” of extra labour costs may force private-sector employers to shed jobs. Yet Paul Nowak, general secretary of the Trades Union Congress, says companies’ criticisms “should be taken with a pinch of salt.” The Treasury insists its budget will deliver economic stability, extending targeted business rate relief for hospitality, retail and leisure, and introducing a lower permanent rate from 2026.

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Public sector suppliers shift NI and wage hikes onto the taxpayer

Middle-class parents have welcomed the government’s move to introduce a 20 per cent VAT charge on private school fees, according to education secretary Bridget Phillipson.

Speaking ahead of the policy’s launch this Wednesday, Phillipson says that many families are “priced out” of independent education by rising costs, and now want a stronger state system instead.

With some boarding schools charging more than £50,000 a year, and the average private school fee now standing at £18,000, Phillipson argues that “pushy middle-class parents” can no longer meet the expense. This, she claims, supports Labour’s position that ending tax breaks for private schools will generate an estimated £460 million in 2024–25—rising to £1.7 billion by 2029–30—funding 6,500 new state teachers and additional mental health support for pupils.

Despite concerns from private schools, whose fees have risen by 75 per cent in real terms since 2000, officials at the Department for Education (DfE) forecast that the VAT uplift will reduce private school enrolment by just 6 per cent, with most of those pupils transferring to state education. Phillipson dismisses warnings of widespread closures as “scaremongering”, noting that state schools recently accommodated significant numbers of pupils from Ukraine and Hong Kong “with no adverse outcomes”.

Private institutions are responding in different ways. Some, including Eton and Westminster School, are passing on the full 20 per cent charge to parents, while others, such as Queen Ethelburga’s near York, are limiting fee rises to 3 per cent. Schools are technically able to reclaim VAT on items such as capital projects and educational supplies, leaving their net VAT liability at around 15 per cent. Phillipson says many have “no good reason” to impose the full hike on parents.

The Independent Schools Council argues that the levy, alongside increased employer national insurance and the loss of charitable business rate relief, leaves schools in an “extremely challenging position”. Carrdus School in Oxfordshire, for example, will close next July, citing these compounding financial pressures. Yet Phillipson insists the new funding stream is key to strengthening the UK’s state schools—representing, she says, a “badge of honour” if it raises standards for children across the country.

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Labour says middle classes back 20% vat on private school fees

Email is one of the most important means of communication for healthcare workers, however, while communicating sensitive patient information there are certain HIPAA rules to follow.

If protected encrypted data is not implemented, Organisations could suffer from increased risk of data breaches, fines, and loss of patient trust.

In this article, you will be learning about email compliance with particular attention to HIPAA email encryption as well as other guidelines that make your communications secure.

Why HIPAA Compliance in Email Matters

HIPAA establishes the basis for securing the individual’s privacy in patient health information (PHI) involving various forms of communication. The result shows that emails, being such an extensively used medium, are especially susceptible to unauthorized access. Thus, let it be used for encryption of the data, healthcare organizations have to adopt some measures to meet HIPAA requirements for the protection of patient information.

Encryption is one of the most effective ways to protect PHI during transmission. HIPAA email encryption ensures that data remains unreadable to unauthorized individuals, even if intercepted. Without encryption, emails containing PHI could fall into the wrong hands, leading to serious legal and financial consequences.

Best Practices for HIPAA-Compliant Email

1. Use HIPAA-Compliant Email Providers

The main logically consecutive actions to safeguard your email communication are as follows: Selecting the service provider that guarantees HIPAA compliance. These providers normally come with in-built capabilities, such as encryption, storage, and audit features to support compliance. In every contract with an email provider, it is mandatory to enter a Business Associate Agreement (BAA) under HIPAA.

2. Encrypt Emails Containing PHI

HIPAA compliance requires data encryption and HIPAA compliance cannot systematically ignore the use of data encryption. It involves turning email content into signals that are only understandable to those people with the right decryption key. If you’re relying on the built-in application, for instance, an email, make sure that the encryption type matches the industry standard such as Advanced Encryption Standard-256.

3. Secure Your Network and Devices

Electronic mail will remain insecure even when it is encrypted especially if a network or device is weak. Firewalls, antivirus software, and properly selected passwords protect all devices to which e-mail is accessed. Further, also allows the 2FA to add more security and secure the application from high risks of hackers attacking it.

4. Educate Employees on Email Security

Associate yourself with a group that is dedicated to ensuring HIPAA compliance within your organization specialists. They should also regularly organize seminars to let employees know what phishing is, email scams, and how to handle PHI. Make sure they understand emails containing sensitive information cannot be forwarded without encryption, or PHI should not be saved to unsecured gadgets.

5. Implement Access Controls

Limit the access of accounts with Privileged email containing PHI to only those with relevant workplace functions. To mitigate this a travel policy should be adopted with role-based access control (RBAC) in place to reduce exposure and all users should have individual accounts to enhance traceability.

6. Monitor and Audit Email Activity

Managers in an organization should take advantage of software tools that provide regular updates on email usage to identify any suspicious activities. Pre and Post Control Audit trails assist in noting future infringements and document compliance during an audit.

Common Mistakes That Violate HIPAA Email Rules

HIPAA is a complex set of rules and many organizations, even when trying their best, can easily oversimplify and unwittingly break some regulations. Here are some pitfalls to avoid:

Sending Unencrypted Emails: The biggest mistake that can be made is not encrypting emails that contain PHI.
Using Personal Email Accounts: Any communication of PHI must be done through the organization’s recommended e-mail platforms.
Neglecting the BAA: HIPAA prohibits cooperating with third-party providers without a BAA directly.
Ignoring Security Updates: If your organization continues using old software, your organization becomes exposed to inherent risks.

Advantages of using HIPAA-compliant email practice

Adhering to HIPAA guidelines for email isn’t just about avoiding fines; it also provides several key benefits:

Enhanced Patient Trust: Patients also be confident knowing that their information reported to the hospital is safe.
Reduced Risk of Breaches: This way, there is tight security in place, and indeed, data leakage is very rare in this instance.
Improved Operational Efficiency: People will be able to communicate without having to worry about compromise since there will be secure email systems in place.

Selecting the Right Email Encryption Solution

When selecting an encryption tool, consider the following factors:
Compatibility: Check that the tool works easily with the email provider you are currently using.
Ease of Use: The best design is not necessarily intricate and complex because it creates problems for the users.
Certification: You should also look for software or tools that are accredited by some regulatory bodies like HITRUST or SOC 2.
Customer Support: Technical problems are resolved quickly through reliable support.

Conclusion

HIPAA standards are of paramount importance for protecting the confidentiality, integrity, and security of patient information. A dose of organizational practice like HIPAA email encryption, using secure email services, and staff training will help to guarantee that personal information is not compromised and in turn, enhance the patient’s confidence in your health facility.

Compliance is the name of the game today – build compliance programs now to ensure that your messages and organization are safe from threats.

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How to Ensure Your Email is HIPAA Compliant: Best Practices You Need to Know

For many gamers, the default experience in a video game just doesn’t cut it anymore. You know that feeling—you’ve cleared every level, defeated every boss, collected 1,000 meaningless trinkets, and now you’re stuck staring at the dreaded “100% complete” label.

Where to next? Enter modded gaming accounts—the go-to solution for leveling up your gaming experience (pun intended).

What Are Modded Gaming Accounts?

First things first, let’s break it down. A modded account is a pre-altered gaming profile that allows players to access features, perks, or status levels that aren’t typically unlocked in the vanilla (standard) version of the game.

Think of it like this—imagine starting a game where you’re instantly decked out in top-tier armor, wielding legendary weapons, and sitting on a pile of in-game cash most players would need months (or years) to grind for. Sounds like cheating? Kinda. But we’ll call it innovative freakin’ convenience.

These accounts are especially popular for games where grinding (repeatedly completing tasks to progress) is part of the system. Yes, we’re looking at you, games like “Grand Theft Auto Online” and “Call of Duty“. With modded accounts, gamers can bypass the boring stuff and focus on… well, the fun.

Examples of What Modded Accounts Offer:

Unlimited in-game currency (because who has time for daily missions, right?)
All skins, weapons, or items unlocked (so you can flex on your friends)
Maxed-out character stats (from level 1 noob to level 100 hero in 3 seconds)
Unique mods unavailable to regular players.

Modded accounts can make you feel like the God of Gaming—unstoppable, all-powerful, and, yeah, maybe a little guilty.

How Do Modded Gaming Accounts Work?

Now for the juicy tech side of things. Gamers don’t just wake up one day and decide to wizard their accounts into modded greatness. The process often involves a mix of clever expertise and tools—sometimes verging on the sketchier, gray-hat side of things. Here’s a rough breakdown of how it works:

1. The “Modding” Process

Modding an account typically involves using third-party software or tools to modify the game files or data. Professional modders tinker with the game’s code to unlock features, adjust in-game stats, or bypass restrictions. It’s not an overnight DIY project unless you happen to moonlight as a tech genius.

For console games, modders often create and upload save files to be downloaded by users.
For PC-based games, tools such as trainers, injectors, or scripts can break open walls that were never meant to be breached.

2. Modders Sell or Share Accounts

Once an account is modded (or built entirely around altered gaming data), the seller can distribute it online, often charging for the perks they’ve manufactured. This typically happens through forums, dedicated websites, or even clever social media posts.

Prices can vary wildly, depending on the depth of perks the account offers. Want a standard modded “starter pack”? That might cost you $20. Want a “fully-loaded, billionaire edition”? Get ready to empty your real-world wallet.

3. Downloading and Using Modded Accounts

After purchase, gamers are usually sent login credentials for the pre-modded account. From there, they’ll log in, start the game, and revel in their newfound overpowered status. Some services also walk users through how to safely transfer items or perks to their primary account.

Important side note here? Stay wary. Not all services are reputable, and while some modded accounts are sold through legitimate forums, others may leave you with a compromised account or risk bans.

Are Modded Accounts the Hero or Villain of Gaming?

Like pineapple on pizza, modded gaming accounts are a divisive topic. Are they cheating? Some would argue yes—especially when it impacts multiplayer experiences or creates imbalances in competitive play. Others see modded accounts simply as a means to enhance their personal enjoyment in games they’ve already paid for.

Pros of Modded Accounts:

Instant Gratification – Get straight to the fun without a tedious grind.
Custom Features – Unique skins, crazy-good weapons, or exclusive powers you won’t find elsewhere.
Cost-Effective – Why spend real money on microtransactions when you can get it all in one go?

Cons of Modded Accounts:

Risks of a Ban – Platforms like PlayStation, Xbox, and Steam aren’t into the modding game. Unauthorized accounts can lead to permanent bans.
Potential Scams – Not every modded account seller is reputable. There’s a risk of paying for something you never receive.
Reduced Challenge – For some gamers, skipping progression just makes the game feel boring. Where’s the satisfaction in it if you didn’t earn it?

Is It Legal?

This is murky territory. Modding itself isn’t necessarily illegal—it depends on the copyright and licensing agreements for the game. However, selling or sharing modded accounts may violate the terms of service for platforms like Steam, Xbox Live, or PlayStation Network. Breaking these rules could result in bans or, less commonly, legal action.

If you’re considering dipping into the modded world, do thorough research and stick to forums or sellers with established reputations.

Should You Try a Modded Account?

Honestly? It depends on why you game. If you’re someone who loves the grind, treasures the sense of accomplishment, or thrives on leveling up purely by your own efforts—then modded accounts probably aren’t for you. But if you’re in gaming purely to explore, experiment, and have fun, modded accounts could be the spice your digital life is missing.

That said, make sure you’re prepared for potential risks. While modded accounts can elevate your gaming experience to exciting new heights, they can also crash it faster than a rogue hacker with a grudge. Play smart!

Read more:
What Are Modded Accounts, and How Do They Work?

Could Nigel Farage really be the next UK Prime Minister? It’s a question that, a mere five years ago, would have sounded rather like asking if we’d ever see Piers Morgan run the Ministry of Manners.

And yet here we are, with Farage’s Reform UK party reportedly garnering a surge in new members—apparently outrunning the Conservatives in the membership stakes, and boasting a younger, more dynamic support base by a margin of at least 15 years. The Tory old guard, presumably, is drinking yet another cup of lukewarm tea in some draughty community hall, while the new kids on the block queue up for kombucha shots at a Reform UK rally. “The times,” as Bob Dylan assured us decades ago, “they are a-changin’.”

Of course, if we’re to believe the rumours, Reform UK also has potential financial backing from the world’s richest man himself, Elon Musk. Yes, that Elon Musk: the rocket-launching, Twitter-purchasing, multi-billionaire entrepreneur who chucks Teslas and satellites into space for sport. The same man who started off revolutionising the electric car industry and wound up with a curious hankering to buy up social media platforms for fun. Musk, mind you, is not exactly known for his shy and retiring approach to politics—or anything else. The notion that Musk might see in Farage a kindred spirit for disruptive politicking and a global platform for their shared brand of contrarian mischief is not entirely outlandish. After all, you could argue they’re both showmen of sorts, each boasting that brash, unstoppable self-confidence that could whip up a global storm in a teacup faster than you can say “Brexit 2.0.”

The truly staggering thing in this scenario, though, is that ordinary Britons—battle-scarred after years of Brexit sagas, pandemic bungles, and fractious leadership contests—might actually be prepared to back Farage as he once again sets out his stall. Remember, this is the man who promised to “get Brexit done” before it was even Johnson’s catchphrase, and whose dogged efforts have, arguably, shaped the entire political trajectory of the UK in the last decade. Love him or loathe him, there’s no doubt that Farage has altered the national conversation—and the national identity. He’s the unstoppable political cameo who marches in and out of the limelight, brandishing a pint and a seemingly endless array of soundbites that enrage one half of the population and endear him to the other half.

But this notion of him returning, phoenix-like, from the ashes of UKIP and Brexit Party stints, and taking on the top job at Number 10? It’s a fantasy that might have some Tory MPs waking in a cold sweat. Picture the scene: you’ve slogged your way through years of Conservative membership, handing out leaflets in the rain, only to have Nigel Farage waft in, grinning ear to ear, flanked by Elon Musk’s retinue of robotic dog prototypes, Twitter flame wars, and rocket tattoos. The possibility that the Conservatives—traditional stalwarts of British politics—could be overtaken by a party that’s not only younger but possibly richer (once Musk opens his digital chequebook) is enough to send a shiver up even the sternest suiting of the Westminster corridors.

Critics, of course, will rightly query whether Farage is even electable in the mainstream sense. Sure, he’s a household name. But is he a household name in the manner that conjures confidence and trust, or is he just that bloke who reminds you of last orders at the local pub? And how far can a brash, anti-establishment figure go in actually leading a government, rather than merely pointing fingers from the outside? We must remember that part of Farage’s whole schtick is his ability to lob grenades from the sidelines, stirring the pot and gleefully undermining whichever politician gets in his crosshairs. It’s a world away from navigating the unglamorous labyrinths of public policy, health crises, and foreign diplomacy.

Then again, one might have said the same about Donald Trump before 2016—and look how that turned out. The populist wave that swept through the Western world in the mid-2010s has quietened somewhat, but it hasn’t vanished. There are plenty of people—especially younger voters—feeling deeply disillusioned with the status quo. The Conservatives, it seems, are left trying to convince potential new supporters that “fiscally prudent” doesn’t have to mean “grey and dull.” Meanwhile, Labour does its best to claim the progressive mantle, but the ghost of Corbyn still rattles around for some, while the shadow of Blair’s New Labour is hardly the trendiest look for Gen Z. If Farage and Reform UK manage to capture a blend of rebellious energy, economic promise, and a dash of Musk’s futuristic bravado, we might be in for quite the ride.

What’s truly fascinating is how Brexit has, in many ways, reshaped British politics to allow for a figure like Farage to keep bouncing back. It used to be that once a politician declared themselves done, that was it: the diaries were published, the after-dinner circuit was booked, and the shadow of retirement loomed. Farage, on the other hand, seems blessed with an indefatigable thirst for the spotlight, always returning with a new banner, a new set of pledges, and a new reason to exclaim how dreadfully incompetent everyone else is. A cynic might say we’ve been here before, and it’s just another of Nigel’s vanity projects. But if the rumours of that Musk money are true, well, that’s the sort of budget that can shift the electoral dial in ways rarely seen in our green and pleasant land.

Could Nigel Farage really be the next UK Prime Minister? Stranger things have happened, though probably not many of them in the staid, centuries-old tapestry of British politics. For now, we can do nothing but watch with horrified fascination as the Reform UK membership balloons (if their claims are to be believed), sipping on that proverbial pint alongside Nigel—though presumably, in Musk’s presence, it might be a zero-G pint served aboard a SpaceX capsule. Meanwhile, the Conservatives look like they’re stuck in a game of musical chairs, with half their seats wobbling precariously, uncertain who’ll be left standing when the music stops.

So yes, it could happen—just don’t place your entire life savings on it yet. We Brits have learned not to discount anything in politics, especially where Mr Farage is concerned. If he does somehow assume the mantle at Number 10, one can only imagine the flamboyant cabinet picks and the possible prime ministerial statements via tweet (or X, or whatever Elon calls it by then). It might be outlandish, it might be catastrophic, but no one can deny it would be entertaining. And, if nothing else, it would confirm what many have long suspected: that in modern British politics, absolutely anything goes.

Read more:
Could Nigel Farage really be the UK’s next Prime Minister, I mean really?

Labour ministers have thrown their support behind a £15m government scheme to rescue surplus food from UK farms—often thrown away or fed to animals—and distribute it to homeless shelters, food banks and charities, particularly over the festive period.

The fund, originally promised by Michael Gove in 2018 and again by Rishi Sunak in 2024, never got off the ground despite persistent calls from charities. Following renewed pressure this autumn, including an open letter from chef Tom Kerridge and hundreds of non-profits, the Labour government has confirmed that grants starting at £20,000 will be made available to not-for-profit food redistribution groups in England.

Under the scheme, these organisations can invest in equipment to collect and process bulky produce, develop tech solutions linking farms with charities and provide essential IT training. About 330,000 tonnes of perfectly edible food is currently discarded or fed to animals each year. With festive staples like brussels sprouts and potatoes in high demand over Christmas, charities say the new funding could make a timely impact.

Mary Creagh, minister for the circular economy, said: “With families gathering to celebrate Christmas and the new year, it’s important to remember those who may be going hungry this festive period. Nobody wants to see good food go to waste—especially farmers, who work hard to put food on family tables.”

Charlotte Hill, chief executive of the Felix Project, and Kris Gibbon-Walsh, head of FareShare, jointly welcomed the announcement: “We are thrilled to see this fund come to fruition. We are pleased that the government has recognised that too much food goes to waste on our farms, and that it should be redistributed to feed people who need it.”

Harriet Lamb, chief executive of the global environmental NGO Wrap, added that the move “gives a flying start to the new year” and helps both food charities and the farming sector develop immediate and long-term solutions. More details about the fund and eligibility criteria will be released early next year, while the newly formed “circular economy taskforce” is set to publish a broader strategy aimed at halving food waste by 2030.

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Labour backs £15m rescue fund to tackle food waste and feed those in need

The UK steel industry is urging the government to commit to buying British steel as part of the country’s planned offshore wind power boom.

Wind energy now accounts for almost a third of the UK’s electricity generation, yet less than 2% of the steel used in offshore wind projects during the past five years has come from domestic mills, according to consultant Lumen Energy & Environment.

A new government steel strategy is expected this spring from business secretary Jonathan Reynolds, who aims to expand UK steel manufacturing capacity and capability against a backdrop of costly decarbonisation pressures. Gareth Stace, chief executive of industry body UK Steel, argues that prioritising British-produced steel for the UK’s rapidly growing offshore wind sector would strengthen domestic supply chains and deliver wider economic benefits.

Demand for UK windfarm steel is forecast to top 1m tonnes per year on average from 2026 to 2050, peaking at more than 2m tonnes—a marked leap from the 300,000 tonnes currently used annually. Most future demand, however, will be for plate steel, which is not produced at scale in Britain. Industry leaders say investment in new facilities hinges on government policies that favour local manufacturing over imports.

Stace contends that this approach would help reverse the sector’s decline and encourage steelmakers to invest, while also recognising the value of keeping such large-scale spending within the UK. He has called on ministers to regard British steel “by default” in public procurement decisions.

Government efforts to bolster domestic steel include a £2.5bn support package, some of which has been earmarked for projects such as replacing traditional blast furnaces with electric arc furnaces at plants in Port Talbot and Scunthorpe. Nevertheless, factories assembling turbine components in Newcastle and building monopiles in Teesside still rely on imported steel plate, highlighting the importance of a cohesive industrial strategy that boosts UK capacity.

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Steel industry urges government to choose British in offshore wind expansion

More than 40,000 individuals found time between turkey dinners and tinsel to file their 2023–24 Self Assessment tax return over the festive period, new figures from HM Revenue and Customs (HMRC) reveal.

While many were tucking into Christmas leftovers or huddling around the television, 4,400 people submitted their online returns on Christmas Day itself. Another 11,932 swapped the Boxing Day sales for filing, with 23,731 preparing their returns on Christmas Eve rather than leaving it to the last minute.

Myrtle Lloyd, HMRC’s Director General for Customer Services, praised early filers for securing their peace of mind before the New Year celebrations begin. She added: “For anyone who hasn’t started, our online service is available all year round—plenty of time to get it done before 31 January.”

Taxpayers who file online by 30 December can opt to pay any tax owed through their PAYE tax code, while the final payment deadline remains 31 January 2025.

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Over 4,000 Brits tucked into their tax return on Christmas Day

Household incomes are likely to stagnate or decline next year, according to new research from the Resolution Foundation, as Britain’s cost-of-living challenges continue.

While Chancellor Rachel Reeves has promised to improve public services, the leading thinktank says this “tax-rise gamble” risks leaving many people worse off in purely financial terms.

Researchers at the Resolution Foundation devised a measure of “real living standards”, combining disposable income with the benefits gained from public services. Its analysis revealed that the poorest 10 per cent of households could see their disposable income drop by 2 per cent, though improvements in services should leave them £28 better off overall. By contrast, higher earners may experience a 0.4 per cent real-terms reduction, equating to a cash hit of about £140 once the value of public services is taken into account.

Mike Brewer, the thinktank’s interim chief executive, explained: “The Budget tax-rise gamble is that, while people may not be better off in purely financial terms, they will feel better off if we can have better, less dysfunctional public services.”

However, significant challenges remain at both ends of the income scale. The poorest are grappling with higher council tax bills, rising housing costs and real-terms cuts to social security payments. Better-off households, meanwhile, typically rely less on state-provided services and see few gains from minimum wage increases.

The Institute for Fiscal Studies (IFS) warns that the chancellor’s strategy hinges on achieving stronger growth, but this is by no means guaranteed. Economic output contracted by 0.1 per cent in October, after a similar dip in September, marking the first consecutive monthly declines since the early months of the pandemic. The Bank of England now anticipates zero GDP growth from October to December, fuelling fears of recession.

Official forecasts from the Office for Budget Responsibility point to 2 per cent growth in 2025, yet independent economists put the figure at an average of just 1.3 per cent. Carl Emmerson, deputy director of the IFS, noted that the chancellor has left herself “not much wiggle room” if the economy underperforms. He added: “If she got unlucky, where would that leave the commitment to be delivering growth? Not very well. And what would she be doing on the public finances, given she seems reluctant to come back for more taxes?”

Next year’s spending review poses further difficulties, with government departments aiming to find 5 per cent cost savings while facing heavy demands from public services under strain. Emmerson warned: “The spending review will be a huge challenge. The Treasury has topped up this year’s and next year’s budgets, but from April 2026 onward the plans look tighter. Securing a spending review that sticks won’t be easy.”

Rachel Reeves has insisted that investment in areas such as healthcare, climate change and justice is essential not only for improving public services but also for supporting the long-term growth agenda. Critics, however, argue that money poured into day-to-day spending may do little to boost productivity or deliver the lasting economic gains needed to shore up the nation’s finances.

A Treasury spokesperson pointed to Ms Reeves’s commitment to “fix our economy and properly fund our public finances after 15 years of neglect”, emphasising that “our plan for change will deliver sustainable long-term growth, putting more money in people’s pockets through investment and relentless reform”.

Yet with the economy teetering on the brink of recession, households across the income spectrum face stagnating or shrinking disposable incomes and must rely on improved public services to feel any better off. As 2025 approaches, the test for the chancellor is whether her high-stakes bet on growth and public service investment will ultimately pay off.

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Living standards to stagnate in 2025 despite hopes for better public services, warns thinktank