It's time to stop meddling and making everything so complicated

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 21 October 2016

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Enough already!

Can’t everything just be simpler?

‘Simplicity is the ultimate sophistication’, said Leonardo da Vinci, whose basic thinking gave us art and helicopters to chat about and wonder over for centuries.

It hardly goes without saying that top of the week’s meddles is from Ryanair, the low-cost airline MOST famous for concocting increasingly bizarre, arbitrary ways of charging people more.

Now it’s levying a fee for checking yourself in at home on your computer and printing the boarding cards – but only if you do so four days before you fly. Stop it!

George Osborne, remember him? Also known as Gideon U-turn, the Chancellor who used to think up stuff in bed then announce it as Government policy the next day without the slightest idea of whether it would work. Pasty tax was one meddle you may recall.

This week, plans to create a secondhand market for annuities was scrapped – because no one wants to buy duff annuities from people who don’t want them for very that reason. Stop it.

Also on the show.

The complexities around the wobbly pound, the dangerous, complex ramifications of the latest inflation figures, the banks that aren’t great at looking after your money, more complicated tax ideas and the five pounds worth more than five pounds because people are… oh, you know?

On a simple note, you can now buy things for a million pounds with a swipe of your iPhone – oh, but only if you’ve got a million pounds.

There’s always a catch.

Join Georgie Frost, Rachel Rickard Straus and Simon Lambert for this fun look at the week’s events in the world of money.

Enjoy.

Transcript

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0:00.0	This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings.
0:13.7	A very warm welcome to This Is Money and Share Radio podcast in partnership with NS and I.
0:19.0	I'm Georgie Frost.
0:19.7	Joining me in the studio is editor Simon Lambert and personal finance editor,
0:23.5	Rachel Rickard Strauss, to round up the week's top stories that they've been covering
0:27.4	on their financial website of the year.
0:29.8	Now, firstly, inflation jumped to its highest level in two years, hitting spenders and savers
0:34.9	alike. Can we blame Brexit?
0:36.5	Headline rate shot up, but a lot of that was to do with clothing.
0:40.8	And clothing is like a yo-yo. It goes up one month, comes down the next month.
0:45.2	You can blame Brexit if you're the chief executive of Ryan N.
0:48.3	You want to squeeze more money from your passengers.
0:50.5	I'm not particularly surprised with Ryanair because they do have a tendency to add these little extra costs on which are very irritating.
0:56.9	What little trick do they have up their sleeve this time? Also today, just how secure is your bank account?
1:02.7	Historically, banks have taken a very archaic approach to onboarding customers.
1:08.4	But just who is the worst offender at looking after your details?
1:11.6	We take a look at the Treasury's U-turn to allow retired savers to cash in their annuities.
1:16.6	When you make things more complicated, you almost always create new unfairnesses, new boundary lines,
1:20.6	new people saying, hang on a minute, I'm just the wrong side of that line you've just created.
1:24.6	So as savers continue to get hammered by politicians, scammers, inflation and continuing
1:29.2	current account cuts.
1:30.2	Simon reckons, well, they need a break of the tax variety.
	...

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