Signing up to an annual direct debit payment plan from your energy supplier is supposed to help prevent bill shock as your payments are spread equally throughout the year. But it might not work like that...
Youth unemployment 'on the rise'
The TUC said while long-term youth unemployment has increased, Government support for the age group has fallen
Long-term youth unemployment in England has increased by almost a quarter since the coalition came to power, according to a study.
The TUC said some regions had been hit by rises of over 50% in the number of 16 to 24-year-olds out of work for longer than six months.
The North West was the worst-hit region (53% increase), followed by the East of England (40%) and Yorkshire and the Humber (29%). London was the only part of England to witness a fall, said the union organisation.
While long-term youth unemployment has increased, Government support for the age group has fallen by 26%, said the TUC.
The government will spend almost £100 million less this year on support for jobless young people claiming jobseeker's allowance in England than was provided under the previous government's Youth Guarantee, which included the Future Jobs Fund, according to the research.
TUC General Secretary Brendan Barber said: "With such sharp cuts in support for young unemployed people, it's no surprise that the Government is failing to get to grips with this urgent problem.
"It is deeply concerning that many of the areas hit hardest by unemployment are seeing such a steep drop in financial support for jobless youngsters.
"Long-term youth unemployment is a ticking time bomb under the nation's finances, with severe consequences not just for young people but also for their communities and the country's wider economic prospects.
"This crisis simply cannot be tackled on the cheap. These cuts are a false economy - failing to act now will cost us all in the longer-term."
The report was published ahead of new unemployment figures on Wednesday, and the TUC's march in London on Saturday against the coalition's austerity measures.
related stories on msn
latest money videos
While Royal Mail showed an increase in yearly profits Marks and Spencer saw profits fall agaisnt last year's figures.
Date 21/05/13, Duration 1:51, Views 584
more on msn money
msn money poll
Would you like to receive offers from retailers – such as discount vouchers or sale previews - from your current account provider?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- Yes - I'd like to receive any offers that could save me money
- Yes - but only if they were tailored specifically to my spending habits
- No - I already know where to look for vouchers and discounts
- 66 %No - I don't want to be contacted by my bank about anything other than my account