Yesterday, we found out that the cost of living was 3.5% percent higher in January than it was the year before, mostly thanks to VAT and petrol prices going back up. High inflation is generally good for debts as their real value goes down. But for savers, it’s miserable, especially with record low interest rates on top of that. Unemployment figures out today are widely expected to show things remaining static at 2.48 million. Finally, premiership football team Portsmouth, which has had 4 different owners in a single year, has until 4:00pm today to file a “statement of financial affairs” proving it can pay its creditors. The 118-year-old club is currently burdened with a £7.4 million unpaid VAT bill. Their total debts are thought to be in the region of £60 million.
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