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Business Argus

Tuesday, April 8, 2014

In brief...
UKs rate of recovery slows
THE pace of the UK recovery slowed to its lowest level in nine months in March as the services sector completed a hat-trick of narrowing growth across the economy, according to new figures. Data from the Markit/ CIPS purchasing managers index (PMI) showed the sector recorded a reading of 57.6 in March, where the 50 mark separates growth from contraction. It marked a fall from the 58.2 recorded in February and its lowest reading since June last year.

Building boost

BRITAINS housebuilders saw a return to buoyant conditions last month after a weather-hit February, while confidence among construction firms rose to its highest level since before the recession.

Blind spot

UK FIRMS are putting their growth at risk due to a technology blind spot, according to a new report. The UK Business Digital Index showed only half of UK businesses and charities have a website, and more than one in tn do not have access to or use the internet.

Work together

BUSINESS and government must work together to win back public trust as part of efforts boost the economy and improve living standards, according to the shadow chancellor. Ed Balls told business leaders that action should be taken when markets fail and competition does not operate, such as in banking and energy . He set out a range of policies at the British Chambers of Commerce conference, including banking reforms, cutting business rates, more apprenticeships and Britain staying in a reformed Europe.

FAMILY courts are at risk of collapse with children caught up in legal battles as warring parents turn up at Court without legal representation, warns Gill Partington, an experienced family lawyer and mediator at Everett Tomlin Lloyd and Pratt. Gill says following cuts to the Legal Aid budget in April 2013, she witnessed a significant drop in the number of parties seeking legal advice for family matters such as divorce, contact and residence. Gill says not being able to access legal aid has meant vulnerable women and children being left unprotected, fathers being unable to see their children following the breakdown of their relationship, and parties being left to struggle financially where their spouse has refused to sell the family home after breakup. She says despite the expectation the majority of family disputes would be resolved through mediation, the take up has been virtually non existent with a 47 per cent drop nationally in the usual percentage of attendees. The founder of lawyersupportedmediation.com, Marc Lopatin, previously commented there had been a col-

Solicitors offer advice following legal aid cuts

lapse in mediation and that the government is trying to sever the link between mediators and lawyers which is worrying because clients need advice. Gill Partington said: Every day we meet people who are no longer eligible for legal aid who desperately need advice. When a relationship breaks down it is a very difficult time and people worry

that they will not be able to afford the advice they need to resolve contact difficulties with their children, for divorce proceedings or to resolve financial matters. Many solicitors firms are taking proactive action to assist people accessing legal advice. Experienced family lawyer Gill said: In an effort to allow people access to advice

we have set up a free family legal clinic at our Pontypool office on Tuesday and at our Newport office on Thursday afternoons each week each week. The clinic is open to all persons seeking advice on all manner of family matters, from divorce to financial matters and issues relating to their children. Since the cuts came into force, many family solicitors have been

working hard to encourage people to seek the help that they need. Myself and others have qualified as mediators to help promote our services. Attendance at mediation prior to proceedings being issued is not yet compulsory but the government proposes that this requirement be made compulsory as of this month.

Teens reach bank challenge nal

young people be more aware A TEAM of seven young peoof money issues. Our event ple from Newport is celebratwas very successful and I ing after impressing a panel of have learnt a lot too. judges to reach the Wales final Money Monkeys will join of Lloyds Banks Money for four other Wales teams Life Challenge. whose projects have shown This national competition the Money for Life Challenge aims to inspire better money judges they have what it management skills in local takes to improve not just communities across the UK. their own money manageThe team of 17- to 18-year-old ment skills, but those of learners from ITEC, a training friends, families and local provider in Newport, fought communities. off competition from all over The Wales final is taking Wales with their exciting proplace at The Royal College of ject called Money Monkeys. Music and Drama today The group set up their prowhen each team will present ject in January, when they Zac Nekkhavi, Josh Foley and Amy-Lee Poole, members of the their projects to a panel of were awarded a 500 grant Money Monkeys team, preparing for the Wales nal of Lloyds high-profile judges. from Money for Life to put Banks Money for Life Challenge The winner will win 1,000 their ideas into action. Since to donate to the charity of then, it has set up a financial advice, and ran engaging activities their choice and each memawareness project aimed at gaining support from MPs and financial ber of the team will receive 50 shopgiving young people the knowledge and charities along the way . ping vouchers. The team will also represkills they need as they progress to Chloe Liddle, 18, from Money sent Wales in the UK final at the 02 adulthood. Monkeys, said: I really enjoyed taking Arena in London on May 15. They targeted secondary schools and part in the Money for Life Challenge The four other Wales finalists are all training centres across South Wales and think we have helped teenagers and based in Cardiff. with resource packs on where to get

Business morale is increasing

Interest risks

FINANCIAL markets are at risk of becoming too complacent about possible higher interest rates despite the degree of disruption they could cause, the Bank of England has warned. The Banks Financial Policy Committee (FPC) said the transition from the current low rates that helped support recovery could pose challenges.

OVER half of manufacturers (58%) invested more in machinery in the last financial year than the previous year, according to the latest Annual Manufacturing Report (AMR). Only 5% of people in the report, which is made by The Manufacturer magazine in association with Barclays, said they were investing less in machinery with 37% at the same as last year. The high number of investing in this area further underlines growing confidence. More than two-fifths (42%)of manufacturers are investing more in new products than 12 months ago, with 42% investing the same and only 5% investing less than last year.

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