Money Box

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Money Box Live: Affording Care Aug 07, 2024

Show notes

A new government has taken office so what might that mean for the financial issues you've told us you care about?

A big topic you got in touch with us about is the cost of care in old age.

Unlike NHS services, social care is not free at the point of use and a place in residential care costs around £60,000 a year according to carehome.co.uk. The bill can go up enormously for anyone who needs extra support. Plus it's a devolved issue with different rules depending on where you live.

A cap limiting the cost of personal care to £86,000 per person over a lifetime is due to come into force in October 2025 in England but will this still be the case?

Felicity Hannah is joined by Nadra Ahmed from the National Care Association, which represents care homes and Simon Bottery, Senior Fellow in Social Care at The King's Fund, which is an independent think tank, specialising in health.

Presenter: Felicity Hannah Producer: Sarah Rogers and Immie Rhodes Editor: Jess Quayle

(First broadcast at 3pm on Wednesday July 10th 2024)

New Chancellor and Energy Debt Aug 03, 2024

Show notes

The Prime Minister, Sir Keir Starmer, has swept to power promising change, but there will be no change in the rates of the three big taxes - income tax, National Insurance, and VAT to protect what their Manifesto called 'working people'. So what will the new Labour government and the new Chancellor Rachel Reeves mean for our money?

The listener being chased for more than £60,000 worth of energy debt she didn't owe. It comes as new, exclusive figures reveal more people are seeking help from Citizens Advice over debt collection.

And there are signs that mortgage rates are beginning to creep downwards – what does that mean for those coming off a fixed rate deal?

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Catherine Lund and Jo Krasner Studio Production: Craig Henderson Editor: Jess Quayle

(First broadcast 12pm Saturday 6th July 2024)

Money Box Live: Your Travel Rights Jul 31, 2024

Show notes

Almost 300,000 flights will take off over the summer months and whilst most holidays go without a hitch, others fail to get off the ground.

Last year saw widespread disruption at airports, in August there was an exceptional IT failure at the UK’s main air traffic services provider NATS over a bank holiday Monday which affected around three quarters of a million people. Strikes and staff shortages also caused disruption.

In this programme we'll discuss what your rights are if your trip is delayed or cancelled, as well as a Brexit passport rule which has been catching thousands of passengers out.

Felicity Hannah is joined by consumer rights champion Jane Hawkes and Sean Tipton from ABTA, which is the association of travel agents and tour operators.

Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle

(This episode was first broadcast on the 3rd of July 2024.)

Election Quiz and Vincent Duggleby Jul 27, 2024

Show notes

This time next week the General Election will be over. As the days count down we'll get into the nitty gritty with listener questions on Inheritance Tax, Capital Gains Tax and ISAs.

Some lawyers and listeners who are acting as powers of attorney have told Money Box they're having problems dealing with banks on behalf of their clients and relatives. The Association of Lifetime Lawyers, a group of legal professionals who support vulnerable and older people, has also told this programme banks need a more streamlined and consistent approach to dealing with powers of attorney. UK Finance which speaks for the banks acknowledged there is more to be done. It says banks are working with members and government bodies to look at how greater consistency can be achieved across the industry.

And a tribute to former Money Box presenter and founder Vincent Duggleby, who sadly passed away earlier this month.

Presenter: Paul Lewis Reporter: Felicity Hannah Researchers: Neil Morrow, Catherine Lund and Jo Krasner Editor: Jess Quayle

(First broadcast 12pm Saturday 29th June 2024)

Money Box Live: Care Leavers Jul 24, 2024

Show notes

Around 38,000 children move into care every year in the UK. That's one every 15 minutes and a significant number of looked-after children will remain in the system until they reach adulthood. So what happens then?

In this programme Felicity Hannah talks about what happens when you leave care. Without the bank of Mum and Dad, what financial support are those young people promised?

We're joined by Jess and Callum, two care leavers as well as Kirsty Doull, Care and Transitions Lead at CELCIS, which is the Centre for Excellence for Children's Care and Protection, Carrie Wilson-Harrop from the Care Leavers Association and Clare Bracey, Policy, Campaigns and Communications Director at the care leavers charity, Become.

Presented and Produced by Felicity Hannah. Producer: Neil Morrow Editor: Jess Quayle

(First broadcast 3pm Wednesday 26th June, 2024)

Election Housing and Energy Debt Complaint Jul 20, 2024

Show notes

There's less than a fortnight to go before the polls open in the General Election. The deadline's passed to register to vote, but there's still plenty of time to work out where you'll put that cross on the ballot paper. This week Money Box is talking about housing - focusing on your questions and comments.

Imagine being told you owe more than £7,000 for your gas. You spend months trying to explain there's no way you could possibly owe anywhere near that amount, only to be told one day that because you still haven't paid it your details are being passed onto a debt collection agency. We investigate one listener's story.

And new research shared exclusively with Money Box suggests almost a third of people are struggling to afford their car insurance. In a survey of more than 4,000 people the abrdn Financial Fairness Trust, a charity who carry out research to help improve living standards across the UK, found almost 1 in 3 people described their car insurance premiums as ‘unaffordable’. What can you do about it?

Presenter: Paul Lewis Reporters: Dan Whitworth and Catherine Lund Researcher: Jo Krasner Editor: Jess Quayle

(First broadcast at 12pm Saturday 22nd June 2024)

Money Box Live: Older Workers Jul 17, 2024

Show notes

The number of people working into their late 60s, their 70s and beyond is rising. In this programme we'll discuss what that means for their employment rights and what it tells us about their finances.

Back in the 90s, only around 5% of peopled aged 65 or older were in work. In the early 2000s, that rose to around 6%. But recently released data from the Office for National Statistics shows that today almost 12% of people in that age group are in some form of employment. That's almost one and a half million people.

Felicity Hannah is joined by older workers to explore their finances, their struggles and their rights to challenge discrimination. She'll be joined by Dr Emily Andrews, Deputy Director for Work at the Centre for Aging Better, and Sarah Jackman, an employment lawyer at the law firm Dentons.

Presented and Produced by Felicity Hannah Studio production: Amber Mehmood Editor: Sara Wadeson

(First broadcast 3pm Wednesday 19th June, 2024)

Tax and the Election and Help with Bills Jul 13, 2024

Show notes

Nineteen days to go before your cross on a ballot paper will help decide who runs the country. You have been telling Money Box what matters to you. This week we'll discuss how much tax you already pay and whether that will change after 4th July.

The head of the UK payment regulator has rejected calls to delay a new fraud reimbursement plan which is due to begin on 7th October. It will mean that victims of fraud are fully reimbursed for losses up to £415,000. We'll have more on this story.

And more than half a million people are now getting help with their finances, often saving substantial sums of money, thanks to something called the Vulnerability Registration Service. What is it and how does it work?

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Immie Rhodes and Jo Krasner Editor: Jess Quayle

(First broadcast 12pm Saturday 15th June, 2024)

Cost of Care and Energy Credit Jul 06, 2024

Show notes

As we continue our series of listener questions ahead of the election, we focus on the Cost of Care and how care later in life should be paid for. Dan Whitworth has been to Shipley to meet Graham, who’s concerned about the cost of his own care – he wants to know what politicians plan to do about it.

Energy companies are continuing to hang on to billions of pounds of their customers' money, which has built up as credit on their accounts. The energy regulator Ofgem says that during 2023, the average amount of credit in energy accounts for people who pay for their gas and electricity by fixed direct debit was £3.7 billion pounds. What's behind that?

More than half a million people were left without their Child Benefit payment this week, after a technical issue at HMRC. What was done to help them?

And this week, new banknotes featuring a portrait of King Charles III came into circulation – how can you get hold of one?

Presenter: Felicity Hannah Reporter: Dan Whitworth Researchers: Jo Krasner and Catherine Lund Editor: Jess Quayle

(First broadcast at 12pm Saturday 8th June, 2024)

Pensions and 'drip pricing' Jun 29, 2024

Show notes

We hear from a pensioner on benefits who tells us she was shocked to find herself having to pay tax on her pension for the first time. With expert help, we explain the so-called ‘triple-lock’ mechanism and why the point at which you can be taxed on your pension has become a big talking point in the election campaign.

Also in the programme, sneaky hidden extras on your online shopping have been banned under new laws passed this month. So called ‘drip pricing’ is when consumers are shown an initial price for an item or service, only to find additional fees are added on later at the checkout. We look what the rules are and how they'll work.

Every time you use Mastercard or Visa debit or credit card to pay for something – the business you’re buying from has to pay fees. Some of these fees are optional, but many of them are mandatory. But now an interim report by the watchdog - the Payments Systems Regulator – found that these fees charged to shops and other businesses by Visa and Mastercard have been rising much faster than inflation, 30 % faster, but that there is no evidence that the service provided has improved

And we look at the scale of fake stamps in the UK. Royal Mail initially responded by charging people a penalty if they received items that were sent with a fake stamp. Although those fines are now ‘paused’, we reveal just how much they amounted to.

Presenter: Paul Lewis Reporters: Sarah Rogers and Neil Morrow. Researchers: Sandra Hardial and Neil Morrow Editor: Craig Henderson

(This programme was first broadcast Saturday June 1, 2024)

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