What you need to know this week
- Severe cold in Scotland has led to a 30% increase in water pipe bursts, with further issues expected due to fluctuating temperatures.
- Government borrowing costs have risen to a 16-year high, while the pound has hit a 14-month low, raising concerns about interest rate increases.
- Over half of UK businesses plan price hikes within the next three months, citing rising costs and taxes.
- Scammers are targeting consumers with fake winter fuel payment texts, spreading malicious software.
- The Institute for Fiscal Studies reports a 5% increase in young adults (25–34 years) living with parents since 2006.
- Ofwat consultation on Priority Services Register (PSR) outlines new standards for water companies to support vulnerable customers starting April 2025.
- CCW proposes WaterSure reforms to enhance financial support for low-income households with high essential water needs.
- The gaming sector faces penalties for AML and social responsibility failures, with increased regulatory focus on affordability and vulnerability detection.
- Scottish insolvency law changes effective 20 January 2025 introduce new requirements for trust deeds and debt advice packages.
- Consumer Duty remains a critical focus, with an event on intelligibility and customer understanding scheduled for 27 February 2025.
- Financial vulnerability initiatives gain momentum, supported by collaborations such as IE Hub and Smart Money Cymru.
- FourNet announces a CX Roadshow across Newcastle, Manchester, and Birmingham from 25–27 February 2025.
Read the full summary – here
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