New Chancellor and Energy Debt
Summary
This episode of Moneybox delves into the financial implications of the new Labour government, led by Chancellor Rachel Reeves, examining potential tax changes and their impact on working people. It also highlights a concerning rise in energy debt collection issues, featuring a listener's harrowing experience with an incorrect £60,000 bill. Finally, the discussion shifts to the subtle decrease in mortgage rates, providing advice for homeowners facing fixed-rate renewals.Episode description
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)