7 costly mistakes most retirees make

Therese Coffey is grilled by Justin Webb on cost of living crisis SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Therese Coffey was pressed by BBC Radio 4 Today Programme host Justin Webb over muted plans from Conservative frontrunner Liz Truss to curb the soaring cost of living in the UK. Listeners and pundits blasted the interview, with Ms Coffey being singled out for being "evasive and formulaic" in the face of a gruelling barrage of questions from Mr. Webb. Related articles Brexit: Britain attracting major business from US Brexit LIVE: 'Great error' Truss warned Boris' departure will cripple Ms Coffey was pressed on BBC Radio 4's Today Programme by host Justin Webb to explain how potential Prime Minister … [Read more...] about ‘Excruciating!’ Therese Coffey in BBC black lash over cost crisis ‘Just want to turn off!’

Boris Johnson: Sky News reporter says 'Choice is heat or eat' SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Boris Johnson insisted money would be available to help Britons when the crisis is supposed to be at its worst and claimed that would be in October, January and December. Mr Johnson batted down claims that people would have to choose between heating and eating this winter as a Sky News reporter challenged him about the prospect. And he admitted when asked that the Government was not currently doing enough to tackle the crisis. Related articles Brexit: Britain attracting major business from US Brexit LIVE: 'Great error' Truss warned Boris' departure will cripple The Sky News reporter said: "You are … [Read more...] about ‘Choice is heat or eat!’ Sky News host put Boris on spot as he admits cost help not enough

Every day there seems to be more bad news about our heating bills. This week, dire warnings from forecasters were predicting that the typical household could be set to spend more than £4,400 a year on their energy by January, soaring to £5,000 by April. What?! This is madness, I said to my friend Harland, a heating engineer. But he told me that there are some simple tweaks you can make to your heating system that can shave hundreds, if not thousands, off your annual bill. Naturally, I asked him to give me these tips so I could let you know about them, too. In fact, I filmed our chat so you can watch how to do these little adjustments. (See this on my site, moneymagpie.com) This week, dire warnings from forecasters were predicting that the typical household could be set to spend more than £4,400 a year on their energy by January, soaring to £5,000 by April. What?! Turning down the water temperature of your boiler is a good place to start saving money The … [Read more...] about Plumber’s easy tips taught me how to slash my energy bills: MISS MONEYSAVER helps you with the cost of living crunch

The Government does not appear to have yet come up with any new ways to help Brits afford their growing energy bills. Boris Johnson met with energy firms today to discuss the climbing price cap -setting the UK up for a ‘challenging winter’ . But the roundtable does not seem to have been especially fruitful, as the prime minister instead reminded the public of the Government’s existing support afterwards. He tweeted: ‘I know people are worried about the difficult winter ahead, which is why we are providing support – including a £400 energy bill discount for all households. ‘This morning I urged electricity companies to continue working on ways to help with the cost of living .’ Mr Johnson then said in a statement: ‘Following our meeting today, we will keep urging the electricity sector to continue working on ways we can ease the cost-of-living pressures and to invest further and faster in British energy security.’ Mr Zahawi added: ‘In the spirit of national … [Read more...] about No new cost of living crisis help announced after Boris meets with energy firms

Olaf Scholz told Germans they would “never walk alone” on Thursday as several of his spy chiefs warned that the cost of living crisis could lead to riots on the streets. Speaking at his summer press conference, the chancellor assured the public that “we will be there for them” during a winter in which energy shortages and raging inflation caused by the war in Ukraine are expected to hit home. “I have purposefully chosen the phrase ‘You’ll Never Walk Alone’ to show our stance,” said Mr Scholz , referring to the classic Gerry and the Pacemakers ballad, which is also a hit among football fans in Liverpool and Germany. “I don’t think there will be any unrest in this country,” Mr Scholz said, claiming that Germany’s robust social safety net would see people through. The 64-year-old Social Democrat pointed to a €10 billion (£8.4 billion) tax relief package announced on Wednesday as just one element of a raft of measures that his government had taken to alleviate the worst … [Read more...] about You’ll never walk alone during cost of living crisis, Olaf Scholz tells Germans

Sir Keir Starmer will lay out his party's "comprehensive plan" to deal with the costs of living crisis - including rising energy bills - on Monday. Labour on Thursday vowed to stop the "outrageous" premiums that energy prepayment meter customers face. It comes as Boris Johnson doubled down on his insistence that it is for his successor to "make significant fiscal decisions" after talks with energy bosses ended with no new measures to ease the cost of living crisis . Speaking on Friday, Sir Keir said he would outline his new policy proposal in more detail next week. "We do need a strategic, a credible, plan and that's exactly what's missing from this government," he said. Advertisement He added: "On Monday I'm going to be setting out a comprehensive set of proposals, a plan for how we handle the upcoming costs in the autumn, while what you've had from the Conservative Party is two leadership candidates arguing with each other about just how … [Read more...] about Labour to reveal ‘comprehensive’ cost of living plan on Monday as they pledge to scrap ‘outrageous’ prepayment energy meter costs

Published 40 minutes ago comments Comments Share close Share page Copy link About sharing Labour's leader has robustly defended his response to rising energy bills, arguing his party has been "leading" on the worsening cost-of-living crisis. Sir Keir Starmer said Labour had already made proposals to lower costs, including taking VAT off energy bills. He called Boris Johnson a "lame duck" prime minister who was "not prepared to do anything" on soaring living costs. He said Labour would end energy prepayment meters premiums and more policies would follow next week. Some backbench Labour MPs have criticised Sir Keir for being on holiday as the crisis over skyrocketing energy bills - driven by global economic turmoil - deepened this week. When asked about discontent within his party over his response, Sir Keir said Labour had proposed policies such as a windfall … [Read more...] about Labour leader Keir Starmer defends response to cost-of-living crisis

By Nick Eardley Published 39 minutes ago Share close Share page Copy link About sharing We've just had an admission from the prime minister. Boris Johnson has said the current package to help with energy bills won't be enough. This might sound obvious if you're worried about paying for gas and electricity this winter. The last package was based on a lower price cap. Things have changed. But Mr Johnson has made it clear that he thinks further support will be needed from whoever succeeds him at the start of September. "What we're doing... is trying to make sure that by October, by January, there is further support," he said. The current chancellor is drawing up options for the next government to consider and put into action right away. The prime minister says he is making sure the cash is there for them to spend. But Mr Johnson isn't going to make that decision himself. … [Read more...] about Why decisions on more cost of living action will have to wait

CO-OP is slashing hundreds of jobs because of tough trading conditions in the cost of living crisis. The company said it will cut 400 positions amid "rising inflation ". Co-op Group is known for its supermarkets, as well as funerals and insurance. The majority of roles will be cut from the company's head office in Manchester. Back office staff in areas like finance, marketing and IT are affected. Retail staff at its more than 2,000 stores are not affected by the job cuts. Read more on jobs JOB BOOST Aldi goes on hiring spree creating 1,000 jobs & you could earn up to £20 an hour MONEY MONEY MONEY All the firms giving workers pay rises and cost of living bonuses Co-op employs around 63,000 people including 4,000 support staff. Inflation has soared to 9.4% putting pressure on household budgets. Many people are spending less as costs are rising. Supermarkets are battling to keep prices … [Read more...] about Co-op to cut 400 jobs as inflation soars in cost of living crisis

Personal finance expert Gemma Godfrey has been answering your questions on the cost of living and money saving dilemmas: Could your pension contribution be put to better use for things like paying your bills? Mark A: Hello, I'm 37 years young and started a pension late. I had approximately £35,000 in there. With the world as it is, this has now dropped to £24,000. What on earth should I do? With the cost of living the extra money would be handy, rather than going in a pot which is disappearing. Gemma says: This is such a tough question because for some people, paying into a pension is no longer an option as they're struggling to cover their current basic costs to live. However, your question implies that you could continue to pay, you're just wondering if you should. The most important thing to say is that when making any financial decisions, it's important to speak to a financial professional who can review your particular situation and offer personal advice. … [Read more...] about Should I opt out of my pension and use the money to pay for the rising cost of living?