Water Bills and Inheritance Tax for Farmers

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 14 December 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

A record number of people in England and Wales are getting help with the cost of their water bills. The number of people on low incomes who have been given a reduction in their bill grew last year by 250,000 to 1.6 million. They are called 'social tariffs' but newly released data from the Consumer Council for Water shows the amount people get varies widely depending on where they live. Water UK, which represents the water industry, says these are average figures with eligible customers able to receive a much higher deduction. Dan Whitworth will have the full details of this story.

In a week where changes to Inheritance Tax for farmers have dominated the headlines, we’ll discuss how the changes will work and who will be affected.

There's a new inflation measure developed specifically for Northern Ireland. The Northern Ireland Consumer Prices Index allows statisticians to compare how fast prices are rising against the UK rate. We'll find out more about how it's calculated.

Plus, the listener who got a £1,500 refund on his student loan after listening to Money Box.

Presenter: Paul Lewis Reporters: Dan Whitworth, Emma Smith and Eimear Devlin Researcher: Catherine Lund Editor: Jess Quayle

(First broadcast 12pm Saturday 16th November 2024)

Transcript

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0:00.0	Hi, it's Nicola Cocklin.
0:02.8	Young people have been making history for years, but we don't often hear about them.
0:06.6	My brand new series on BBC Sounds sets out to put this right.
0:10.6	In history's youngest heroes, I'll be revealing the fascinating stories of 12 young people
0:16.0	who've played a major role in history and who've helped shape our world.
0:19.8	Like Audrey Hepburn, Nelson Mandela,
0:22.5	Louis Braille and Lady Jane Grey, history's youngest heroes with me, Nicola Cochlin. Listen on BBC Sounds.
0:31.4	BBC Sounds, music, radio podcasts. Hello, welcome to this Moneybox podcast.
0:41.7	Farmers from around the country are expected in London next week to protest about reductions in their 100% exemption from inheritance tax.
0:44.6	Why are they so angry?
0:45.8	And how will the new rules work?
0:47.9	Inflation is different in Northern Ireland.
0:50.0	New official figures show how much, and I ask a statistician why.
0:53.9	Plus one graduate is £1,500 better off after listening to last week's programme.
0:59.4	But first, a record number of people in England and Wales are getting help with the cost of their water bills.
1:05.0	The number of people on low incomes who have been given a reduction in their bill grew last year year by 250,000 to more than 1.5 million.
1:13.4	They are on what are called social tariffs,
1:15.8	but newly released data from the Consumer Council for Water
1:18.6	shows the amount people get varies widely, depending where they live.
1:22.8	Moneybox reporter Dan Whitworth has been looking into this,
1:25.9	alongside colleagues at BBC verified. Dan,
1:28.1	what have you found? Well, Paul, the highest average bill reduction for someone on a social
	...

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