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Moving away from the petrol chaos, the Financial Times reports that the earnings threshold at which graduates start repaying student loans is due to be lowered. Graduates begin to pay back their student loans when their salary reaches £27,295. The government is considering reducing this. One suggested new threshold is £23,000, which could save the Treasury nearly £2bn a year, the FT adds. But, the paper notes, such proposals would hit young people again after National Insurance contributions were raised this month.

Financial Times Front Page 22nd of October 2021

The Financial Times leads with a warning from the Bank of England’s new chief economist that inflation is likely to rise “close to or even slightly above five percent” early next year, which comes ahead of a decision on whether to raise interest rates.

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