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By Julia Kukiewicz Staff Writer
Friday, 6 March 2009
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Previous Money News Roundups
See our other recent Money News Roundups and other related news stories:
Money News Roundup (27 Feb 09)
Could the bank charges row be drawing to a close? Why should we regulate the banks? And why do we love our credit cards?
Money News Roundup (20 Feb 09)
Find out why UK pets have taken to eating money, how Martin Lewis won a Googling victory and what the best credit cards in the UK are in this week’s money news roundup with Julia Kukiewicz.
Money News Roundup (19 Dec 08)
In the last money news roundup before Christmas find out how to survive the festive season whilst keeping both your wallet and your relationships intact.
Money News Roundup (12 Dec 08)
In this almost-Christmas money news roundup strong>Julia Kukiewicz finds out how your festive name could make you money, why Boris Johnson is getting so miserly and a very good reason to compare credit cards for your next holiday.
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Bad news for your relationship during the recession not to mention using your Nationwide credit card abroad.
Do Tax Credits Cause Divorce?
RESEARCH from Essex University this week suggested that tax credits could cause divorce.
According to Professor Marco Francesconi the divorce rate more than doubled in some tax categories between 1999 and 2003. In those categories in which the women work while their husbands are either unemployed or work less than 15 hours a week the divorce rate has jumped by 160%.
The implication is that women are attracted by the extra child care support they will receive as single parents are inspired to dump their lazy husbands.
Prof Francesconi claims his findings should not detract from the overall achievements of the tax credit scheme, which has been "extremely successful" in getting single mothers back to work. However, the implication the tax scheme is breaking up families is likely to be music to the ears of right-wing commentators this week.
Meanwhile, the government spokesman dismissed the study, claiming: "Academic studies have found no consistent connection between the structure of the tax system and people's personal choices about marriage and children."
Women told: 'Expect the Worst'
A GOVERNENMENT scheme to protect women during the recession reveals that there are fears that the continuing crunch will increase domestic violence and discrimination in the workplace.
It's no secret that as home repossessions, job losses and unemployment rates soar relationships are more likely than ever to turn sour but there's something disturbing about issuing advice in anticipation of it. How about an accompanying 'how not to beat your partner during the credit crunch' booklet?
The government's advice also anticipates that pregnant women or those on maternity leave will face an increased risk of being made redundant.
The end of free banking?
INEVITABLY, as a result of the (possibly) tide-turning decision on bank charges last week this week the 'End of Free Banking' brigade have been out in force.
The argument is that by reclaiming their fees consumers are lumping themselves in with a bad lot: people who use their accounts irresponsibly. If banks can't charge people for irresponsible use of their products, the reasoning goes, fees will eventually go up for everyone and banking will be free for no-one.
Of course, the big problem with this argument is that the current account market is still competitive enough to mean that asking consumers to pay for banking would be a massive mistake.
The end of free credit cards abroad?
SAD times for our favourite travel credit card recommendation Nationwide who, as of today (Friday the 6th), will be introducing fees for some customers.
If you have a Visa credit card with Nationwide you will now be charged 0.84% every time you use your credit card outside of continental Europe.
Nationwide blame the new fees on increasing fees from Visa and given Nationwide’s previous form we're inclined to believe them.
By comparing credit cards you can find some that still offer a free service abroad, although most now charge at least a 2.75% foreign transaction fee. The Post Office credit card is still completely commission free, for example.
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