 |  | By Julia Kukiewicz Staff Writer Friday, 14 March 2008 |
Other recent money news and guides
Free flights with an easyJet credit card!
easyJet has launched an air miles scheme that allows you to earn Miles on the easyJet credit card for money off easyJet.com flights. New cardholders will be able to get £40 worth of free flights just by spending £250 or more within the first 3 months.
Money News Round Up 7th March 2008
Julia Kukiewicz glances back at the week's personal finance news and uncovers how the government will be investing £12 million into a customer financial advice scheme, Northern Rock entices customers back, and the Tories plans for 'green' ISA's.
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The Budget
There’s only one story for the money world this week: Alistair Darling’s Biblical budget. In between self-congratulatory pats on the government’s back (and a strange failure to mention Northern Rock and the credit crunch) the chancellor managed to find time to punish sinners and reward saints.
Good News for...
Over 60’s: Over-60s will now receive a winter fuel payment of up to £250 while over-80s will be able to get up to £400.
Children: The government has pledged £1.7 billion to tackle child poverty. There will be more family tax credit available and help with rising energy costs for poorer families.
The Environment: Good news for the planet as those that pollute the environment can look forward to paying more. Supermarkets will be forced to charge for plastic bags if they don’t cut them out altogether. Air passenger duty will be scrapped in favour of flight tax and those with the most polluting cars will also pay more. Vehicles that emit more than 255g of carbon dioxide per kilometer will be charged £950 more for their first year rate of road tax.
Charities: A sticking plaster solution was proposed to correct problems to charities caused by the planned change in the basic rate of income tax from 22% to 20% on April 6th. Now, the chancellor has said that charities can continue to reclaim at 22% but only for three years.
Bad News for...
Drinkers and Smokers: With a 6% increase in alcohol tax and a 2% above inflation rise for each of next four years it’s bad news for those of use that like a drink. Practically that means paying 4p more for a pint of beer, 3p more for cider, 14p more for wine and 55p more for spirits. Smokers will also have to pay more – a packet of 20 cigarettes will go up 11p.
Drivers: As well as all the restrictions on the most polluting cars there will be a 2p rise in fuel duty for six months.
First time buyers: Although the budget got rid of stamp duty on shared-ownership homes until buyers own 80% on the equity of their homes, the threshold on stamp duty has remained at £125,00 making it just as difficult as ever for first time buyers to get on the property ladder.
No such thing as a free… cavity wall insulation?
If you or someone you know is aged over 70 or receives benefits they will now be able to get absolutely free cavity wall and loft insulation from E.on.
E.on joins Npower and Powergen in offering the insulation to anyone, even if they aren’t one of their customers. £360 a year savings.
So, to put it bluntly, what’s the catch? What’s in it for the companies to help people give them less money? Well, E.on and other companies have a carbon emissions reduction target and it’s in their interest to meet it. So there really is such a thing as something for nothing - if only when it comes to cavity wall insulation.
And finally if you only do one thing this week...
Reclaim the unnecessary charges on your accounts. They’re an illegal way to take your money. Your bank has no right to charge you an extortionate amount for sending a letter or to fine you so just write them a letter detailing the amount they took out. You can reclaim most charges including those incurred when you exceed your authorised overdraft and those for unpaid direct debits. The Bank has a duty to send you a reply to your letter within 40 days. If they don’t ring them up and then report them to the information commissioner.
So get writing and get your cash back - good luck!
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