A whirlwind week: tax, pensions, savings and mortgages
Money Box
BBC
4.2 • 825 Ratings
🗓️ 12 November 2022
⏱️ 30 minutes
🧾️ Download transcript
Summary
The Prime Minister has announced another U-turn in her government's tax-cut plan, in an effort to reassure financial markets. Liz Truss says she will reverse her plan to scrap an increase in corporation tax and admits the government's mini-budget had gone "faster and further" than many expected. It comes after the PM sacked her chancellor, Kwasi Kwarteng, and replaced him with former health and foreign secretary Jeremy Hunt. We'll ask what all this means for your income, pension, savings and mortgage.
The first £66 discounts from electricity bills are now being paid, but some suppliers are using the money to pay off old debts. Felicity Hannah investigates.
Charities call for changes to a website which they say is misleading disabled people over their eligibility for a railcard. We'll get a response from the Rail Delivery Group and the Department for Transport on that. And the government has promised £100 to help with heating bills for households who are not on the mains gas network. We explain when and how it will be paid.
Presenter: Paul Lewis Team: Felicity Hannah, Clare Worden and Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm Saturday 15th October, 2022)
Transcript
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| 0:00.0 | You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one. |
| 0:06.5 | I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds. |
| 0:11.2 | I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects, |
| 0:16.0 | relationships, identity, comedy, even one that mixes poetry, music and inner city life. |
| 0:22.4 | So one day I'll be helping host develop their ideas, the next fact-checking, a feature, |
| 0:28.3 | and the next looking at how a podcast connects with its audience, and maybe that's you. |
| 0:33.6 | So if you like this podcast, check out some others on BBC Sounds. |
| 0:39.4 | BBC Sounds, music, radio podcasts. |
| 0:43.4 | Hello, welcome to this Moneybox podcast. |
| 0:46.3 | As the first £66 pounds discounts off electricity bills begin to be paid, |
| 0:50.8 | we reveal that some suppliers are taking some of it to pay old debts. |
| 0:56.0 | Charities say thousands of disabled people are paying full price for their rail tickets |
| 1:01.0 | because they're wrongly told they cannot get a disabled person's rail card. |
| 1:05.0 | And the government has promised £100 to help with heating bills for households who were not on the mains gas network, |
| 1:12.5 | but how and indeed when will it be paid? But first, the Prime Minister. |
| 1:18.4 | I have therefore decided to keep the increase in corporation tax that was planned by the |
| 1:24.3 | previous government. This will raise £18 billion per year. It will act as a |
| 1:31.8 | down payment on our full medium term fiscal plan, which will be accompanied by a forecast from |
| 1:38.4 | the independent OBR. This trust went on to say, today I have asked Jeremy Hunt to become the new Chancellor. |
| 1:47.1 | He's one of the most experienced and widely respected government ministers and parliamentarians. |
| 1:52.7 | And he shares my convictions and ambitions for our country. |
| 1:58.1 | He will deliver the medium term fiscal plan at the end of this month. Well, the new |
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