Cost of Care and Energy Credit

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 6 July 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

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)

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.
0:43.1	Hello, welcome to this Moneybox podcast.
0:45.8	How much of your money are the energy companies hanging on to?
0:50.0	Moneybox has found its billions.
0:52.8	Delays to child benefit payments caused problems for some
0:55.4	parents this week. We'll reveal some big differences between how banks dealt with struggling
1:00.4	customers. And as the new King Charles banknotes are slowly rolled out, we'll tell you how you can
1:06.5	get hold of one fast. Sadly, yes, you do have to swap it for an old one. But first, the general
1:11.9	election is now less than four weeks away and Moneybox is here to help you understand
1:16.7	what the different political parties have planned for your pocket. You've been sending us
1:21.9	your questions since the campaign began and a number of you have been in touch to say the cost of old age care
1:28.9	and the question of who pays for it is really key. And it's no wonder. Residential care
1:34.2	typically costs more than £60,000 a year for self-funders. That's according to the
1:39.9	comparison site carehome.co.uk. For residents who need nursing care, it can be well over
1:46.0	70,000. And even helping the home with washing or dressing is typically 25 pounds an hour.
	...

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