Savings - are they drowning not waving?
Money Box
BBC
4.2 • 825 Ratings
🗓️ 22 February 2020
⏱️ 30 minutes
🧾️ Download transcript
Summary
A Money Box investigation has found that two of the biggest broadband providers are charging people up to £90 a year to keep their email address if they switch to another supplier. The regulator Ofcom has told Money Box that it has written to the firms and may take further action.
Nearly two million savers will miss out on more than £100 million a year income following the announcement this week of cuts to National Savings and Investments interest rates. Is this the end of savings?
From April the liability for any underpaid tax shifts from the contractor - IT expert, business consultant or indeed a care worker - to the firm that wants the work done. The result is that many big firms including banks are refusing to take on contractors unless they become employees for the short period they work there. The contractors say that cuts the fees they are paid, increases their costs, and removes their flexibility. Campaigners say contractors are leaving the UK and want the changes to be delayed.
Presenter: Paul Lewis Producer: Alex Lewis Editor: Richard Vadon
Transcript
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| 0:00.0 | You're about to listen to a BBC podcast, but this is about something else you might enjoy. |
| 0:05.4 | My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds. |
| 0:10.8 | The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that. |
| 0:17.5 | With music on sounds, we offer collections and mixes for everything, from workouts to |
| 0:22.4 | helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put |
| 0:28.3 | together by people who know their stuff. So if you want some expertly curated music in your life, |
| 0:34.9 | check out BBC Sounds. |
| 0:41.3 | BBC Sounds, music, radio, podcasts. Hello, the government is warned that April changes in the rules about disguised employment will cost money, not save it. |
| 0:48.3 | Savings rates are being slashed and the new £20 note. I won't rustle one because they're made of plastic. |
| 0:56.6 | First, though, a Moneybox investigation. It found that two of the biggest broadband providers are charging people up to £90 a year to keep their email address if they switch to another supplier. |
| 1:08.3 | The regulator, Offcom, has told Moneybox, it's written to the firms |
| 1:11.3 | and may take further action. The four big providers cover 90% of the market, but BT, Talk Talk, |
| 1:18.3 | Sky and Virgin Media have very different rules for departing customers who want to keep the email |
| 1:23.9 | address that was provided when they signed up. BT charges them £7.50 a month, £90 a year, |
| 1:30.8 | to keep normal access to their BT email. |
| 1:34.1 | TalkTalk charges £5 a month, |
| 1:36.3 | with a discount to just £50 a year if paid in advance. |
| 1:40.3 | Virgin Media won't let you keep an old email address. |
| 1:43.3 | It gets deleted after 90 days. |
| 1:45.5 | And Sky? |
| 1:46.5 | Well, it told Moneybox, people can keep their old email address free forever. |
| 1:53.0 | Wendy Small from Bookham in Surrey was a BT broadband customer. |
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