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Money Box: UKIP's Personal Finance Plans, The Death of Cashback and Rewards?, Radical Housing Ideas.

UKIP's Personal Finance Plans, The Death of Cashback and Rewards?, Radical Housing Ideas.

25/04/2015

BBC Radio 4 - Money Box, UKIP's Personal Finance Plans, The Death of Cashback and Rewards?, Radical Housing Ideas.

UKIP's personal finance plans, plus does a European ruling mean an end to cashback?

UKIP's Mark Hughes spells out his party's personal finance plans, and does a European ruling mean an end to cashback? Plus radical housing plans. With Paul Lewis.

On Money Box with Paul Lewis:

If UKIP has MPs and any influence over the next Government it promises to "hold the next Chancellor's feet to the fire" over cutting the deficit. UKIP's finance spokesman Mark Hughes explains how his party would aim to reduce that deficit. He also outlines their tax, benefits and State Pension proposals. This is the latest in the Money Box series of pre-Election interviews.


Two major credit card providers are ending their cashback and rewards deals on cards and both blame a change in European law. Most Capital One customers will find the cashback paid on their cards is ended or cut in half from 1 June. And RBS Natwest customers with rewards cards will get no more rewards from 1 July. These giveaways were funded partly from a charge which the retailer pays every time you use your card. But later this year the European Commission will impose a cap on this charge, forcing card issuers to charge retailers no more than 0.3% of the transaction value. That is around a third of the current charge estimated to be 0.8%. Liz Oakes of KPMG and Dan Plant from Money Supermarket join the programme. 


Money Box has been looking at tax polices of the parties standing in the Election. The Green Party would impose a wealth tax on people owning more than £3 million and a new top rate of income tax of 60%. Plaid Cymru would have a 50% top rate and take many low earners out of paying National Insurance. But in both cases it is their housing policy which is the most radical. Both want to give tenants greater security and impose some controls on rent. And the Greens would make buying to let more expensive for investors. Bob Howard reports.

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