New Chancellor and Energy Debt

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 3 August 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Prime Minister, Sir Keir Starmer, has swept to power promising change, but there will be no change in the rates of the three big taxes - income tax, National Insurance, and VAT to protect what their Manifesto called 'working people'. So what will the new Labour government and the new Chancellor Rachel Reeves mean for our money?

The listener being chased for more than £60,000 worth of energy debt she didn't owe. It comes as new, exclusive figures reveal more people are seeking help from Citizens Advice over debt collection.

And there are signs that mortgage rates are beginning to creep downwards – what does that mean for those coming off a fixed rate deal?

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Catherine Lund and Jo Krasner Studio Production: Craig Henderson Editor: Jess Quayle

(First broadcast 12pm Saturday 6th July 2024)

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
0:21.7	Lucan. It's honestly one of the most powerful stories of my lifetime. I'm Alex Fontunzelman. This is
0:27.8	the Lucan Obsession. Listen on BBC Sounds. BBC Sounds, music, radio, podcasts. Hello, welcome to this Moneybox podcast.
0:39.6	The listener chased for a £60,000 electricity bill she didn't owe,
0:44.4	as exclusive new figures reveal more people are seeking help about debts being passed to collection agencies.
0:51.5	And mortgage rates edged down, almost imperceptibly, so is the cost of buying a home
0:56.9	beginning to fall at last. But first, the Prime Minister, Sakeir Stama, has swept to power
1:03.2	promising change, but there'll be no change in the rates of the three big taxes we pay,
1:09.2	income tax, national insurance and VAT.
1:12.3	That's to protect what the manifesto called working people.
1:15.9	So what will the new Labour government mean for our money?
1:19.1	One thing that has changed, of course, is that for the first time, for three quarters of a century,
1:23.7	we have a Chancellor of the Exchequer, who is an economist.
1:27.3	And Rachel Reeves is not just any old economist.
1:30.1	She's a former Bank of England economist.
1:32.8	You really couldn't get more establishment than that.
1:35.6	And of course, she's also a trailblazer,
1:38.2	the first woman ever to be Chancellor.
	...

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