Primary School Children To Be Taught About Self-Employment

Schoolchildren who are as young as five will learn how to set up their own businesses for a profit under new plans revealed by the Government in June. Prime Minister David Cameron will support the dramatic overhaul of teaching in both primary and secondary schools in order to encourage children to be more entrepreneurial, preparing them to start their own companies later on in life.

The reforms have been proposed by a former Cabinet minister who advises David Cameron on competitiveness in Britain. The move is intended to change attitudes towards self-employment and mSelf employment helplineake Britain more welcoming to people who set up their own companies. The minister studied teaching syllabuses and techniques and found that lessons are irrelevant to thousands of children as they no longer apply to today’s society.

In the Enterprise for All report, several changes will be set out. The changes should be made at every level of education from primary school to university. It would mean that even the youngest children will be taught about the importance of business in society.

The minister is understood to be supporting the expansion of a Government pilot named the ‘Fiver Challenge’ where primary school children are given £5 to set up their own mini business to make a profit. The scheme is underway currently at 500 schools across the UK, with 20,000 children running their own business.

The report is also calling for more schemes such as Founders 4 Schools which sees people who have set up successful companies come in and talk to schoolchildren about creating businesses.

The report comes as it was found last year that the UK is only creating half as many new businesses as in similar countries across Europe. Britain is underperforming when it comes to business start ups due to apparent cultural reasons such as social depravity and language barriers as well as literacy levels.

 

10,000 Employers Join Workplace Pension Scheme

From the first week of July, around 10,700 employers will be auto-enrolling their staff into a new workplace pension scheme. This move is the largest staging date of the workplace pension initiative so far as it involves the highest number of employers at one time.

The Government’s workplace pension scheme is a new system where employees are automatically drafted into pension schemes by their employers. A percentage of an employees salary (0.8%) will be automatically taken from their pay and will be matched by a 1% contribution from their employer and an 0.2% top up from the Government in the form of tax relief. These figures will eventually rise over time, for instance in 2018 workers will be contributing 4% of their salary, with 3% coming from their employer and 1 per cent from tax relief t0 make a total of 8% of a salary in contributions per year. If an employee wishes to make larger contributions, they can do so. They are not automatically enrolled, the scheme is not compulsory and you can choose to opt out. It is believed that around 10% of employees have opted out of the scheme so far.Workplace Pensions

The idea around it is that a small portion of your pay is automatically placed in your pension pot. By turning it into an automated system, the Government hopes it will convince everyone to get into the habit of saving for retirement whilst contributing enough to ensure that they will get a good pension.

People earning less than £10,000 a year or those under 22 will not be automatically enrolled. Medium sized businesses are now due to start the auto-enrollment process. The scheme first began back in 2012 with the largest employers, however the smallest employers won’t have to launch their scheme until 2018. By May 2014, over 15,000 employees had confirmed their details.

If you choose not to have a Work Place pension, you can top up your Government allocated pension with Pension Credits once you are over the age of 65.

David Cameron Finds EU Ally In Migrant Child Benefits Battle

EUDavid Cameron may have found an ally in his mission to clamp down on the money that is being sent abroad. The German Chancellor Angela Merkel backed his proposals to cut the amount of money that migrant workers are sending back to their children abroad.

The British Prime Minister has vowed for some time now to clamp down on the £30 million that is being sent abroad every year. The child benefits raised by migrant workers goes to an estimated 40,000 children across Europe whose parents live in the United Kingdom.

Prime Minister David Cameron has explicitly stated that this would be one of the key demands he makes during the European Union renegotiation should his party win at the next general election.

He has found a strong supporter of this plan in Angela Merkel. Members for her Christian Democratic Union said that it intends to level the playing field in this area. They believe that the level should be set according to the nationality of the child being sent money. For instance, they say it is wrong that Romanian workers could claim £146 per month from Germany when it’s £7 per month in their home country.

A spokesperson with Downing Street said this about the story:

[quote]The Christian Democratic Union’s intervention underlines the growing support in Europe for action to tackle the abuse of free movement by those who move to claim, not to work.[/quote]

Of the 40,000 children that receive money from migrant workers in the United Kingdom, just over 22,000 of them are from Poland. Other countries include France with 1400 children, Spain with 1000 children and Romania with 329 children.

Although Angela Merkel appears to be on David Cameron’s side in this particular fight, she is still very much against the idea of his party choosing to take Britain out of the European Union. In a recent interview, she said that Britain leaving would be a “disaster” for Europe.

David Cameron has been dropping hints about hid desire to leave the EU since he was out-voted by other European Union leaders last week about who should be the president of the European Commission. Other European Union leaders decided to go with Jean Claude Junker, a former prime minister of Luxembourg and a supporter of a federal Europe. David Cameron, an outspoken critic of Jean Claude Junker said that he was an old fashioned Brussels insider who did not represent a willingness for reform.

Pension Credit Helps To Boost Income

If you are over the age of 66, do you like the sound of being able to boost your income by an estimated £1,700 a year? Experts say that an estimated three million people could see their bank balances boosted simply by claiming all that they are entitled to. As much as five billion in pension top ups goes unclaimed, often simply because older people are too ‘proud’ to get the help on offer. Other pensioners told researchers that they found the process to be too complicated or personal, whereas some people just did not know they were entitled to the money.

However, the research found that claiming a package of pension credit, council tax discounts and housing benefit could line their pockets with an extra £1,716 per year. Yesterday, a pension specialist urged those close to retirement or already retired to make sure that they get what they are entitled to. She said that the current pensioners built Britain up to what it is today, so they should not have to scrape by. She said thPension Credit phone numberat women especially have very small incomes.

A new report which was commissioned by Age UK and found that one in 10 pensioners would not be able to pay a £200 bill if they were hit with it unexpectedly. Statistics showed that one in four over 65s feel financially worse off than they did last year, with a third worried about the cost of living in general. A spokesperson for the charity said that Age UK helps people every day claim what they are entitled to.

The basic state pension is £113.10 a week for a single person. However, if the person’s total income is below £148, they could get a top up as part of Guarantee Credit from the Pension Credit scheme. Those who have saved towards their pension can get Savings Credit. Even if the person’s income is not boosted a lot by this credit, it opens the door to other benefits such as Council Tax reductions and housing benefit. They are also eligible for free NHS prescriptions and eye tests, as well as getting Cold Weather payments after a spell of bad weather.

 

Labour Leader Rallies UK Businesses To Help Rebuild Economy

Labour leader Ed Miliband made a public attempt to rally UK business leaders earlier this week by telling them they are ‘vital’ Labour-businesses-UKto bringing prosperity to Britain.

As well as laying out plans for a national infrastructure commission in order to build more airports and roads, Mr. Miliband addressed businesses and business-leaders, saying that their “entrepreneurship and inventiveness” is vital to putting the British economy back on track.

In what was his second major intervention in the UK economy this week, the party leader claimed that the recession would not be resolved by returning growth to the economy alone.

In addition, he went on to suggest that the problems facing Britain were actually in existence before the 2008 banking crisis.

[quote]Unless we change the way we do things, we simply will not create the high-paying, high-skilled jobs needed to improve the condition of our country, and the rewards of growth will be unfairly shared.”[/quote]

the Labour leader said. He stated that Labour would “build prosperity” and “rebuild faith in business and in [British] politics” for the future.

Mr. Miliband has come under considerable pressure lately over his party’s plans for the economy and for Britain’s place in Europe, and has been criticised for having a lack of ambition and radicalism in matching the policies of the opposition.

In particular, his policies have been described as ‘anti-business’ by some critics, which could affect how his message is received by companies and business-owners.

However, the MP admitted:

[quote]I know we won’t always agree on everything and I won’t just tell you what you want to hear either.”

What I want to offer however is a clear, one-nation mission for the country. You as British businesses are vital to this mission because of your entrepreneurship, your inventiveness, and your ability to change people’s lives through the power of your ideas.”[/quote]

As the general election draws nearer, Labour has promised it will balance the books by 2020, and raise the top rate of tax to 50% to help reduce the deficit.

It has also warned however of plans to cut spending in order to reach its goal, should it regain power.

The Conservative Culture Secretary Sajid Javid, however, dismissed the promises as “the same old Labour”.

[quote][It’s] just offering more spending, more borrowing and more taxes,”[/quote]

he remarked.

[quote]Its clear Ed Miliband is too weak to take the difficult decisions needed to secure Britain’s future.”[/quote]