How changes at the top of government could affect your money
Money Box
BBC
4.2 • 825 Ratings
🗓️ 6 August 2022
⏱️ 26 minutes
🧾️ Download transcript
Summary
It's been quite the week in politics and on this week's Money Box we'll take a look at what it could mean for your personal finances. One of the biggest challenges the next PM will face is the economy and the many households feeling the squeeze. It's thought some of the candidates favour tax cuts, but there's also pressure to increase taxes to control government borrowing. Heather Self a tax expert at Blick Rothenberg and Tom Selby from the investment company AJ Bell will discuss.
According to a new report, out on Monday, more people are falling behind with at least one household bill as the cost of living rises. Money Box has been given an early look at the Coronavirus Financial Impact Tracker, which suggests one-in-six households are now ‘in serious financial difficulty' compared to one-in-ten in October. Debt is also climbing - particularly among people who were already struggling. We'll speak to Professor Sharon Collard from the University of Bristol, who is one of the authors of the financial impact report which is funded by the Aberdeen Financial Fairness Trust. Plus advice from the debt charity Stepchange.
Also, if you ignore a current account for too long - can your bank really take your money? And how hard is it to get it back? Our reporter Dan Whitworth investigates.
Presenter: Felicity Hannah Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm Saturday 9th July, 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. |
| 0:39.5 | BBC Sounds,, radio podcasts. |
| 0:43.3 | Hello, welcome to this Moneybox podcast. |
| 0:46.1 | What an interesting week. |
| 0:47.9 | What an interesting money box we have for you. |
| 0:50.5 | One in six households are now in serious financial difficulty. That's an increase compared |
| 0:55.9 | to one in ten just last year. So what's the outlook for Britain's struggling families? |
| 1:01.7 | Then, if you ignore a bank account for too long, can your bank really take your money? And how |
| 1:06.6 | hard is it to get it back? Our reporter Dan Whitworth has been hearing from one man who lost |
| 1:11.4 | a hundred thousand pounds down an admin rabbit hole. But first, you can't have missed the |
| 1:17.7 | political drama. The job of a prime minister in difficult circumstances when he's been handed |
| 1:23.2 | a colossal mandate is to keep going. The dying act of his political career is to parrot that nonsense. |
| 1:29.7 | Enough is enough. |
| 1:32.2 | Prime Minister has agreed to stand down. |
| 1:35.0 | I want you to know how sad I am to be giving up the best job in the world. |
| 1:40.7 | But them's the brakes. |
... |
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