Endless cycle of sexism: Women hit harder by financial recession

ISA savings are held by many in the UK, with the tax perks they provide making them a favourable option for stocking up on savings. Despite this, ISAs are likely to offer very low interest rates which makes money held in them quickly outpaced by inflation, a problem affecting a specific section of people quite hard.

What are ISAs?

ISA stands for Individual Savings Account. The main difference between an ISA and any other savings account is that it offers tax-free interest payments, so you could get more money for your money.

There is, however, a limit to the amount of cash you can put into an ISA in each tax year, which is called the ‘ISA allowance’. ISA accounts can come in many forms but one of the most popular types is the cash ISA. HMRC have released data on how people are engaging with cash ISAs and analysis from some groups have shown that women hold the highest number of all cash ISAs available.

Dilemma for women

The ratio for groups using ISAs have not changed much in recent years, making women be more than half of all cash ISA holders. Cash ISAs are a common part of many savings plans but they do not often offer great returns through interest. This means that women in particular could struggle with their monetary holdings, especially when considering that they tend to not seek further guidance and help on the issue.

Financial assets need to manage carefully and regularly to get the best possible result. Various institutions, including the government, urge the public to seek financial advice wherever they can.

Jill Elliott, a Chartered Financial Planner, commented on HMRCs figures and stated that “we need to break the cycle of women being over exposed to low returning savings products”. Professional advice is what is strongly recommended to women, rather than leaving the problem to sit.

Evil Insurance Scam Explosion Kills Five, Murderers Sentenced to Life Imprisonment

Shortly after 7pm, on 25 February 2018, a massive explosion ripped through a shop and apartment, causing widespread destruction and panic. Leicester police declared a major incident, closing off nearby streets. At the time of the devastating explosion, Mary Ragoobar, her sons Shane and Sean and Shane’s girlfriend Leah Reek were in the flat above the shop. Shopworker Viktorija Ijevleva was also in the building at the time. All five were killed, as the devasting explosion reduced the building to rubble. Initially, police suspected that a gas leak had caused the explosion, as firefighters battled for an hour to bring the inferno under control. Other early reports, which were uncorroborated, posited that an illegal alcohol distillery caused the massive explosion which claimed the lives of five people. A joint investigation by the police and Leicestershire Fire and Rescue Service was launched immediately.

 

Shortly after the blast, three men were arrested, including the owner of the shop. Arkan Ali, 38, Hawkar Hassan, 33, and Aram Kurd, 34, were arrested on suspicion of murder and manslaughter. However, it wasn’t until the trial that the motives behind the heinous crime which ravaged an entire family came to light. A court heard that three weeks prior to the explosion, Ali, Hassan and Kurd Kurd has conspired with shopworker and one of the victims of the blast, Viktorija Ijevleva, to commit an insurance scam. An insurance policy worth £300,000 was taken out for the shop, which the defendants had sought to claim. With co-conspirator Ijevlev deemed by the gang ‘to know too much’, they had left her to die in the inferno. The court heard how the gang sought to change CCTV camera angles and carried out the plot in order to claim the £300,000 insurance. At a trial in December 2018, all three were charged with five counts of murder and conspiracy to commit fraud by false representation.