Energy costs versus incomes

Money Box

BBC

Business

4.2 • 825 Ratings

🗓️ 13 August 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Families on a low income face spending more than a quarter of the money they have left after paying their mortgage or rent on energy bills from April next year. The Joseph Rowntree Foundation says it's even tougher for single people on a low income with no children, where it rises to more than two thirds. The calculations are based on latest predictions from the energy analyst Cornwall Insight, which says the typical annual bill could reach more than £3,300 in the new year. The data also shows that the government's £37 billion support package has reduced costs this year. We'll get reaction from the government, the energy regulator Ofgem, and Energy UK who represent the industry.

It's not long until school's out for summer, in England and Wales at least - Scotland and Northern Ireland are already deep into that school summer break. We'll take a look at what financial support is on offer for families to help with costs.

How rising inflation is pushing more people into higher tax bands and what you can do about it.

And the listener who paid off her mortgage, only to discover the bank had used her money to pay off someone else’s.

Presenter: Felicity Hannah Reporter: Katie Barnfield Researcher: Sandra Hardial Editor: Jess Quayle

(First broadcast 12pm Saturday 16th July, 2022)

Transcript

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0:00.0	On a winter's night in 1974, a crime took place that would obsess the nation.
0:07.0	It was an extraordinary news story.
0:09.0	The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny,
0:14.0	mistaking her for his wife, then somehow just disappeared.
0:18.0	One of the great mysteries in English criminal history. We're still looking for Lucan.
0:21.6	It's honestly one of the most powerful stories of my lifetime.
0:25.6	I'm Alex Fondunzelman.
0:26.6	This is The Lucan Obsession.
0:28.6	Listen on BBC Sounds.
0:30.6	BBC Sounds, music, radio, podcasts.
0:35.6	Hello, welcome to this Moneybox podcast.
0:38.9	Hundreds of cafes and restaurants are feeding kids for free or for a pound during the summer holidays.
0:45.0	We'll find out more.
0:46.4	If you're angling for a pay rise, what might that mean for your tax?
0:50.2	And we'll hear from a woman who paid tens of thousands of pounds, only to discover her bank had actually used it to clear someone else's mortgage.
0:59.0	Ouch.
0:59.7	But first, families on a low income face spending more than a quarter of the money they have left after paying their mortgage or rent on energy bills from April next year.
1:10.3	These new numbers from the Joseph Roundtree
1:12.3	Foundation shared exclusively with Moneybox are based on the latest predictions from the energy
1:17.4	analyst Cornwall Insight, which says the typical annual bill could reach more than £3,300
1:23.8	in the new year. It is worrying lots of people, including James, who got in touch with Moneybox.
1:30.8	He's 77 and lives in a two-bedroom masonette with his wife.
	...

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