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Money Box

Carer's Allowance and Child Trust Funds

Money Box

BBC

Business

4.2804 Ratings

🗓️ 16 November 2024

⏱️ 25 minutes

🧾️ Download transcript

Summary

It was a big week for carers as the Government announced an independent review into Carer's Allowance overpayments after families were told to pay back thousands of pounds, often pushing them into debt.

The review will look at what happened, but in the meantime the Department for Work and Pensions has told Money Box it will continue to collect almost quarter of a billion pounds it says it's owed from more than a hundred thousand carers. We hear from Karina who cares for her 22-year-old daughter and ended up in £11,000 worth of debt. The DWP said it is committed to working with anyone struggling with repayment terms.

A major investment firm has said it will review its Child Trust Fund accounts after Money Box revealed one young man's £250 investment had all but disappeared when he claimed it at 18 due to high administration charges.

In the run up to the Chancellor's budget we look at fuel duty and whether the 5p cut could be scrapped. And beware the thieves pretending to offer a solution to lost Winter Fuel Payments.

Presenter: Paul Lewis Reporters: Dan Whitworth and Emma Smith Researcher: Jo Krasner Editor: Sarah Rogers

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.

0:39.5

BBC Sounds, music, radio, podcasts.

0:43.8

Hello, welcome to this Moneybox podcast.

0:46.5

A major investment firm has said it will review its trial trust fund accounts

0:50.0

after Moneybox revealed one young man's £250 investment

0:53.7

had all but disappeared when he claimed it at 18.

0:57.2

Will Rachel Reeves pump up petrol and diesel prices

1:00.1

to take billions of pounds more off motorists

1:03.1

and beware the thieves pretending to offer a solution

1:06.3

to the lost winter fuel payments?

1:09.2

But first, the government has told Moneybox it will continue to pursue more than 100,000 carers

1:14.7

for around a quarter of a billion pounds in overpaid benefits,

1:18.4

even after launching a review into what it calls the scandal left by the previous government.

1:24.4

Carers allowance is £81.90 a week.

1:26.8

It's paid to people under pension age

1:28.5

who look after a severely disabled person for at least 35 hours a week. They often take a paid

...

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