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Why your mortgage will be cheaper by Christmas

Anyone with a variable-rate mortgage or a cheap fixed-rate deal about to expire is probably feeling a little nervous right now. Interest rates have shot up by 0.75 percentage points to 5.25 per cent in the last six months and speculation is rife that borrowing costs could rise to as high as 6 per cent in the next few months.

But will rates really go that high? And if they do, how long will they stay that high?

Shouldering the cost of a skilled Britain

For the dewy-eyed recent graduate, standing out from the crowd in today’s jobs market is daunting, if not downright impossible. Competition for employment is intense - more than 630,000 students completed a higher education qualification in 2004 -05. No longer does a bachelor’s degree guarantee twenty-somethings a career and money aplenty

Brown the beautiful

At the risk of having my head bitten off by our band of ferocious Times Online Gordon Brown haters, I would like to put in a good word for our poor beleaguered Chancellor and, indeed, politicians in general. I realise this is not fashionable, but I wonder if fashion, or at least a lack of perspective, is what motivates many of Mr Brown's critics?

Brilliant or Bland?

Gordon Brown, the Chancellor of the Exchequer, has delivered his final Pre Budget Report. He announced an increase in fuel tax and said air duty would double from February.

"Ten years ago Britain was seventh in the G7, bottom of the league for national income per head. In the last two years Britain has been second only to the USA," he said.

Where now for interest rates?

After much delay and no little speculation, Gordon Brown, the Chancellor of the Exchequer, has finally announced the appointment of two new members for the Bank of England’s rate-setting monetary policy committee (MPC). Why is this important? Because the two-new appointments could change the balance of power on the committee at a time when there is speculation that the cost of borrowing is about to rise. (Last week the pound shot up half a cent against the dollar on rumours that Morgan Stanley UK economist David Miles, a renowned interest rate hawk, would get one of the MPC jobs.). In the end it was not Mr Miles but Timothy Besley, a professor at the London School of Economics, and Dr Andrew Sentence, British Airway’s chief economist who landed the prestigious positions.

Celebrate your freedom...

This Saturday, June 3 marks "Tax Freedom Day", the theoretical date at which the average British taxpayer has earned enough to cover their annual tax bill. The date is three days later than in 2005 and nine days later than in 1997 when the Labour government came to power. At that rate of growth we will all be slaves to the state before the end of the next century.

What’s the future for the world economy?

One veteran rune-reader believes that, with a bit of luck, we should escape with a soft landing

Bluster or bold?

Gordon Brown, the Chancellor of the Exchequer, today delivered his tenth and possibly last Budget. He identified education and the environment as the priorities of Labour's third term but was largely silent on other public services. He also failed to make any significant changes on the contentious issues of stamp duty and inheritance tax although he did freeze fuel duty and announced reforms to road tax.

Critics have already accused the Chancellor of delivering a Budget long on rhetoric but short on detail. What did you make of the Chancellor’s speech?

What can you Budget on tomorrow?

There was a time when the content of the Chancellor’s famous red briefcase ahead of Budget day was a closely guarded secret. Former Chancellors including Winston Churchill and Neville Chamberlain used to isolate themselves for weeks as they devised ingenious new ways to separate taxpayers with their money.

In 1947, Chancellor Hugh Dalton was even forced to resign when his plans found their way on to the front page of the London Evening Star.

But these days, what hasn’t already been revealed in the Pre-Budget Report is usually briefed to journalists well ahead of Budget day. So what can we expect tomorrow?

Forewarned is forearmed

At 3.30 this afternoon, Gordon Brown, the Chancellor of the Exchequer, will stand up in the Commons to deliver the Pre Budget Report. Other than the usual bluster, bravado and spin what else can we expect in this year's statement?

PM admits: there is a gas crisis

Tony Blair was forced to admit that there is something of a gas crisis over rising prices, to industrial users initially at least, when cornered on the subject in the House of Commons today

There could be trouble ahead

Put a group of economists into a room and they would be hard-pressed to agree on what colours the walls are painted. But the economists who pore over the statistical entrails are reaching a near consensus in their prophecies. There may be trouble ahead, the chorus goes. The difference lies in how deep and how fast the economists believe we are sinking.