Smokers and top earners were clear losers in Britain’s budget this year, as the government hiked taxes on cigarettes and the highest incomes.

But a lucky few must have been cheering in front of their televisions during the 51-minute speech.

Budget-watchers who bet hard cash that the chancellor of the exchequer, Alistair Darling, would wear a grey or blue tie to his address got a welcome bit of stimulus from the budget.

Betting firm Ladbrokes was giving odds of 3/1 and 16/a for a blue and grey, respectively. Perhaps aware of the odds, Darling put on a blue-gray striped one, and Ladbrokes paid out for both colours.

“We thought it was blue at first, but as the hour rolled on we decided that, much like the content of the speech, it was in fact grey,” Ladbrokes spokesman David Williams said.

The real money came with real risk, howerver. If you wagered 20 pounds that Alistair Darling would let loose with the word “depression” during his speech — many thought it too gloomy to say out loud — the return was a cool 320 pounds.

Smaller, but by no means negligible, reutrns were reserved for bets on the words “downturn”, with 4/5 odds, “recovery” at 1/5, and “credit crunch” — still profitable with odds of 3 to 1.

There was no mention at all, however, of the one word that drew more bets than all others put together: “sorry”. Odds that Darling would apologise about the state of the economy, always a long shot, narrowed from 20/1 to 4/1 in the run-up to the speech, the betting firm said.

And for those who take their thrills wherever they can find them, spread betters were offering an over-under spread of 54.5 to 56 minutes for the length of Darling’s speech.

He managed to keep it gonig for 51 minutes this time around, just under a minute longer than last year.

The Office of Fair Trading believes scams cost UK consumers at least 3.5 billion pounds in 2008 and three million UK consumers a year fall victim to scams sent via post, email, text message and over the phone. Chances are you have been targeted at some point, be it via bogus lotteries, ‘free’ holidays, premium-rate calls and fraudulent individuals posing as bona fide salespersons.

So what can you do to avoid being caught out by scammers? How can you tell the difference between a scam and a genuine prize? You first line of defense should always be, if it sounds too good to be true, then it probably is. Beyond that, there are a number of useful tools that will help you spot a scam before your pride, and your pocket, takes a knock.

If you are contacted by phone, then you can check the origin of the call on the website whocallsme.com. The site is a user supplied database of numbers of telemarketers, non-profit organisations, charities, scam artists and other companies. Searching for a number will reveal user feedback on the caller. If it is a fraudster, then you certainly won’t have been the only one they have tried to contact.

To help you protect your computer and to stop spam mail and other attempts at online fraud, Get Safe Online is full of information about anti-virus software, firewalls, dealing with suspicious emails and safeguarding your personal details from identity theft. Take these precautions and you are far less likely to be contacted by scammers in the first place.

Online shopping is safe and secure if you are know how to spot a dodgy seller. You need to know you are buying from a reputable company and that your payment details are safe. Follow this guide to avoiding online rip-offs.

Most people are aware of the dangers of phishing (a type of spam email that goes after your passwords and bank codes), but you should still read Moneysavingexpert.com’s guide to avoiding them. The site also has tips on stopping junk mail, calls, texts and other forms of spam.

You can block unsolicited sales and marketing calls to your home or mobile phone by joining the Telephone Preference Service. Once you have registered for free, it is illegal for organisations to call you. The Mailing Preference Service works in the same way and will stop junk mail from falling through your letter box.

Being billed for receiving text messages you did not want in the first place is just as annoying. Regulator PhonePayPlus allows you to check strange numbers that appear on your bill and will investigate complaints about companies that refuse to stop sending you messages.

One of the best sources of advice and information in our battle against fraudsters and scammers is Consumer Direct. Set up by the Department of Trade and Industry, the website is there to help anyone who fears they may be the victim of rogue money-making schemes. The site offers a guide to recognising scams as well as advice on preventing unwanted sales calls, emails and texts. It also allows you to report a scam and learn how to take action against those who go after your hard earned cash.

House prices have dropped, interest rates are low and plenty of people are straining at the leash to get on the housing ladder.

Now the Nationwide Building Society says house prices have risen for the first time since October 2007. 

The Nationwide cautioned about jumping to conclusions on the basis of one month’s figures but the news was enough to send the pound up against the dollar and some analysts said it was more evidence that the battered housing market may be recovering. 

On the other hand mortgages have become much harder to get and rising unemployment is working against any recovery.

What do you think? Is it premature to start talking of green shoots in housing?

Financial website Unbiased.co.uk announced this week that as a nation we spent the first 83 days of the year working just to pay the interest on our debts. Personal loan levels increased to 11.4 billion pounds in 2008, up by over 1.6 billion pounds on the previous year and mortgage debt from equity release loans also increased by 6.5 billion pounds. Credit card debt, on the other hand, decreased by just over 4.9 billion pounds.

If you are struggling to pay off your debts, here are some useful online resources to help you out.

You can start by reading our top tips to help you beat debt problems. Budgeting properly is essential and you can use Unbiased.co.uk’s budget calculator to rein in your spending and borrowing and work out how much you will be left with each month to service your debt.

If you feel like you need expert financial advice then Unbiased’s website is the best place to find an independent financial adviser you can trust. You can also talk to the Consumer Credit Counselling Service, a charity which offers free and confidential advice and support to anyone dealing with debt problems.

Moving the balance on your credit card can save you hundreds of pounds a year in interest. You can find and compare the best deals Moneysavingexpert.com’s credit card and loans section. Its guide to improving your credit score will make life easier for you once you get back on your feet and the debt problems section is an invaluable resource for those of you who think your debt crisis is unsolvable.

Switching utility provider can also lead to savings that you can use to pay off debt. Compare gas and electricity suppliers at moneysupermarket.com as well as other providers such as mobile phones, broadband and insurance.

Cutting back on little luxuries like coffee, newspapers and cinema tickets soon adds up. Find out how much you can save each year by using Barclay’s little extras calculator.

The energy regulator has said that it is considering a ban on unjustified price differences in the energy market to address concerns that customers are being charged differing amounts according to their payment methods.

Ofgem also said that it was planning measures that will improve customer service, including simplified information about tariffs to help people decide whether they need to switch supplier.

All of which could lead to cheaper bills for energy customers. But until this happens, there are a number of simple steps you can take to reduce your household bills.

The website 0870buster.com, which has only just launched this week, will help you to cut down on your phone bill. The site is a free telephone directory that provides alternative numbers for companies at a standard rate instead of the usual premium rate numbers.

Switching your gas and electricity suppliers, meanwhile, can save you hundreds of pounds a year. Thisismoney.co.uk will help you work out how much you could save a year by switching to a cheaper supplier. The results will be more accurate if you have a bill to hand, but you can still use it if you do not.

The site, with the help of energyhelpline.com, will also help you to make the switch once you are ready.

Unravelit.com helps you to save money on household and personal bills by allowing you to compare prices on numerous products, including gas and electricity, insurance, phone bills, credit cards, broadband and loans. It also offers information about switching for business owners.

There are also savings to be made on water bills. This moneysavingexpert.com guide to cutting water bills compares meters and regular billing to help you work out what is best for you and possibly saving you a few hundred pounds a year in the process.

The motoring industry has been hit hard by the recession (as demonstrated by the cancellation of the 2010 British Motor Show) and consumers have struggled to secure the credit they need to buy a new car. But for those in a position to make a move, there has never been a better time to do a deal.

Car buying website Parker’s has named March 23 as the best car buying day of 2009. Price cuts, stock availability and dealers desperately chasing bonuses make it the optimum time to buy a car before prices on new and used vehicles start to go up again in the summer.

If you are getting revved up at the thought of some of the discount deals on offer, then here are some useful web tools and articles to help you finance and get the best deal on your new set of wheels.

Moneysavingexpert.com highlights the fact that, although you may get your hands on a cheap car, the rate at which it will lose its value is truly frightening. To help you cut costs, it has this guide to researching the best price, how to haggle your way to a further discount and, most importantly, how to finance the deal (including some dealer tricks to watch out for).

Parker’s website is a great source of independent car reviews and has this excellent tool that allows you to search prices of new and used cars. And, of course, you can start searching for your perfect new motor.

There are of course multiple ways to buy a car, from auctions to independent dealers. Times Online’s Buying Guide includes a useful run through of the available options so you can work out which is best for you.

Buying a used car is fraught with risks; one in three cars has a hidden history such as outstanding finance repayments, undeclared damage - it could even be stolen. For a small fee you can research a car’s track record at Autocheck, which could end up saving you big in the long run.

MSN UK Cars has devoted an entire section to beating the credit crunch. The Bangernomics pages are devoted to the science of buying and running a used car for less. They even reckon you can make money on some used cars.

The cost of running a car is often what puts people off buying. To help you save money on things like MOTs, insurance and breakdown cover, check out Auto Trader’s regularly updated page of special motoring offers.

By clamping down on credit, Britain’s newly cautious banks are making collapse almost inevitable for many small to medium enterprise (SMEs) who need a financial cushion now, more than ever, as suppliers and customers struggle to pay bills as the economic downturn bites.

Small businesses in Britain, which employ over half of the private sector workforce and annually generate some 3 trillion pounds, typically depend on loans for working capital to tide them over during lean spells.

The latest research from the Bankers’ Automated Clearing Service (Bacs), which processes direct debits for banks, showed a sharp rise in overdue payments, up 40 percent to 25.9 billion pounds last year from 18.6 billion in 2007.

Bacs, which found that the national average for outstanding payments increased 25 percent to 38,000 pounds in 2008, said SMEs waited an average of 41.5 days beyond agreed payment dates for invoices to be settled as firms — especially those in the manufacturing and service industries — struggled with cash flow problems.

With state-sponsored support schemes failing to deliver cash where it’s needed will dwindling bank lending continue to put Britain’s small firms in danger?

The Competition Commission has ordered airport operator BAA to sell Stansted and either Edinburgh or Glasgow aiport, once it has completed the sale of Gatwick. The commission has been looking into BAA’s dominance of airports in Scotland and England’s south-east for two years and decided that the lack of competition between airports has been detrimental to passengers.

The commission’s final report also recommends that the airports be sold within two years and that they be sold in sequence, starting with Gatwick.

BAA was acquired by Spanish company Ferrovial in 2006 for 10 billion pounds but has been hit hard by the economic downturn. The firm has said that it may challenge the order to sell because such quick sales in such conditions could be impractical.

Whether the order to sell will actually benefit air passengers is a much debated issue. A spokesperson for Virgin Atlantic told The Times that the airline supports the move. ““The break-up of BAA is something Virgin Atlantic has requested for many years and it will undoubtedly benefit consumers. Better airport facilities in the UK and lower prices will be the result and we therefore congratulate the CC on its findings.”

Paul Whelan, head of industry body the Small to Medium Airports Group, disagrees, telling the BBC that it will do nothing for the consumer. “There are a lot of airlines including Ryanair using Edinburgh and it is doing a good job, while Stansted has also been good for airlines.” The BBC also has this Q&A which asks if this is a good move for air passengers.

The Telegraph’s Transport Editor, David Millward, meanwhile writes that the Competition Commission’s report is a ‘weak compromise.’ “After all it is not BAA that has suddenly decided to charge for the clear plastic bags people need to carry liquids through security. It is Manchester Airport, whose owners have been tipped to bid for Gatwick or Stansted.

“In many ways the Competition Commission report is a weak compromise. Many are disappointed that Heathrow was not broken up with terminals competing against each other for business. That worked at JFK in New York and it could well have worked here.”

So who will possibly step in to buy the airports up for sale? It’s a complicated business; the commission has ruled that each should be bought by a different company and potential owners will be put under tough scrutiny. The Guardian has published this guide to the companies in the running.

What do you think of the Competition Commission’s decision? Do you think forcing BAA to sell some of its airports will improve customer experience? What do you think of the current standard of the airports in question?

The Financial Services Authority (FSA) has published a blueprint for a shake-up of global banking regulations aimed at preventing a repeat of the current financial crisis. The report, authored by FSA Chairman Adair Turner, recommends an increase in banks’ minimum capital requirements, closer regulation of hedge funds as well as proposals to stop banks lending too much during boom years and measures to restrict the ability of banks to take excessive risks.

The report comes a week after FSA Chief Executive Hector Sants said in a speech at Thomson Reuters London offices that the banking sector should be “very frightened” of the regulator.

Here is a quick round-up of how the FSA’s blueprint has been received across the web.

Robert Peston, the BBC’s Business Editor, writes on his blog that much of what the FSA Chairman said was “common sense” and that “some of its gleaming new rules would in fact represent a return to a framework for limiting risk-taking by banks that prevailed until comparatively recently.”

There was also a good discussion about the FSA and international banking regulation on this morning’s Today programme on BBC4, which you can listen to here if you missed it.

Over on the Telegraph, meanwhile, Simon Denham comments that: “The new “aggressive” stance from the FSA is a legitimate reaction to the howls of outrage - some justified and others totally misplaced - about the moral and managerial turpitude within the City.

“But it remains to be seen how this will translate into action. The worst case scenario would be for regulation to become unduly cumbersome, slow the mechanisms of the City and hinder any wider recovery for the economy. That said… Lord Turner’s report is a golden opportunity for the regulator to really get behind financial services.”

Lord Turner also announced that potential homeowners may need to put down at least a 15 percent deposit to secure a mortgage. Richard Mason, Managing Director at Moneyextra.com, however, told Times Online that: “Putting a cap on mortgage lending is simply a case of shutting the stable door after the horse has bolted. This action is futile and detrimental to those that need help the most - first time buyers.

“Lenders should not allow the Government to dictate their lending criteria. Rather, the FSA should focus on challenging lenders to ensure they are operating comfortably within a stable and predictable property market.”

Lorna Bourke on Citywire.co.uk says that mortgage controls would be have “disastrous long term consequences for the housing market and is just plain wrong. “The amount borrowed by a homebuyer is just one factor in determining the person’s ability to meet repayments. The level of interest rates is equally important and their credit track record and other financial commitments are all factors to be taken into account.”

Patrick Collinson of The Guardian, on the other hand, says that a cap on income multiples is correct, but does not go far enough. “Can someone explain what societal damage will be incurred if someone is prevented from taking a home loan worth five times their income? The FSA should also consider imposing tight controls on how couples, married or not, are assessed for borrowing.”

Managementtoday.co.uk asks if the measures outlined by Lord Turner might actually do more harm than good. “Lots of people are sceptical that it will have enough knowledge and expertise to spot the danger in time, even if it gets the extra powers of intervention Turner wants.

“Turner has also called for a pan-European regulator, to try and keep an eye on the industry at a regional level. And therein lies a big problem with all this: if the regime becomes a lot stricter in the UK, but not anywhere else, the big banks will just leave London and go somewhere else that gives them an easier ride.

“Hence why some City folk are worried that all Turner’s reforms will do is reduce London’s competitiveness as a financial centre – which is likely to make the UK’s economic recovery even slower.”

Now it is over to you. What do you think of the FSA’s plans for financial reforms put forward by Lord Turner today?

* Ian Kessler is a reader in employment relations at Said Business School at the University of Oxford. The views expressed are his own *

The Chinese define a crisis as ‘an opportunity on a dangerous wind', and the crisis created by the current economic downturn has certainly placed the management of human resources centre stage. Corporate survival has become dependent on controlling and reducing labour costs, while future organisational viability has necessitated restructuring, placing further strains on the workforce. The challenge confronting human resources management is reflected in the predicted scale of job losses: the International Labour Organisations suggests that in 2009 as many 51 million jobs worldwide could be lost.

The tension between opportunities and dangers is clear:  radical change in a crisis runs the risk of undermining workforce motivation and performance, so precipitating the very organisational failure the changes were designed to avoid. At the same time if employee morale and productivity can be maintained, the likelihood of competitive advantage in the upturn is considerably enhanced.

Success during a crisis is likely to revolve around the balancing of three sets of issues:

Insiders and Outsiders

The shedding of jobs represents the quickest and surest way of reducing financial costs. It is, however, a process fraught with hidden costs and likely to unleash tensions, not least between insiders retaining their jobs and outsiders losing them. This should encourage reductions in the workforce other than through redundancies, for example relying on redeployment, natural wastage or a recruitment freeze. As an alternative, organisations might use more flexible forms of employment such as agency working, so protecting the core workforce. The 850 redundancies recently made by BMW at its Mini plant in the UK were all agency workers. This is not to deny the unease created within the workforce and the community even in this situation, highlighting the need for organisations to care both for those workers who go and stay.

The help provided to redundant workers, for example, career counselling will have a significant bearing on the reactions of remaining workers. The guilt felt by workers in retaining their jobs while others lose theirs is mitigated if those leaving are seen as being helped. Moreover, job losses place increased work pressures on the residual workforce, reflected in research which indicates that for those keeping their jobs in times of downsizing the risk of a heart attack doubles. This suggests the need for organisational sensitivity to these increased demands

Substance and Process

In times of crisis, organisations often have little choice but to place downward pressure on substantive terms and conditions of employment. They are likely to have greater discretion over the processes used to enact these changes. Such discretion is crucial in determining employee reaction to substantive change:  how organisations do things, can be as important as what they do.  Equity theory suggests that employee motivation relates to how fairly workers feel they are being treated in procedural terms - the systems used to reach decisions. Punitive employer decisions are less likely to provoke a negative employee response if introduced fairly. US researcher Greenberg examined two similar factories: one reduced pay by 15% with an explanation and an apology; the other cut pay by the same amount without any explanation or apology.  Workers in the former were not too happy and thefts from the plant increased by 54%; however, in the latter factory where no remorse was expressed theft rates increased by 141%.

How can crisis changes be implemented fairly? Fairness resides in managerial transparency, honesty and humility, pursued through open communications with the workforce. But employee voice, whether through representatives or more directly, also becomes crucial: the chance for employees to express their views in meaningful ways.  Moreover, fairness lies in consistent and equitable treatment throughout the organisation; workers assess fairness by how they are treated relative to those closest to them, typically those within the same rather than in different organisations. It is for this reason that the disproportionate rewards received by senior managers in an organisation so often prompt employee unrest.

Opportunistic and Strategic

In times of crisis, the management of human resources is likely to be driven by short term, opportunistic cost considerations. This runs the risks of weakening the very efficiency and effectiveness of the workforce which created corporate success in the past, while threatening the basis for organisational success in the future. Cutting training budgets subverts the possibility of updating and investing in skills; voluntary redundancy programmes encourage the most talented, typically the most marketable, to leave.

HR systems require years to settle down. The success of the oft quoted payment system run by US company Lincoln Electric lies in the fact that it has been in operation for almost a century. Workers have come to understand and trust it. Any attempt to radically change an HR system, say by a rash pay reduction, threatens to destroy worker trust and the likely effectiveness of the practice. Worker trust in an HR system takes years to develop; it can be destroyed in flash by an unthinking act. Periods of crisis call for an enlightened opportunism: quick action where possible which never loses sight of the organisation's strategic goals and the maintenance of a workforce able and wiling to deliver them.