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The latest news from the world of personal finance plus advice for those trying to make the most of their money.

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Money Box: Care Homes, Consumer Duty and Stamps

29/07/2023

Care Homes, Consumer Duty and Stamps

BBC Radio 4 - Money Box, Care Homes, Consumer Duty and Stamps

Care home leaders call for an energy support scheme to be reopened.

Why everything is about to change when it comes to consumer's financial rights.

Care home leaders are the latest group criticising the Government for failing to get £400 of winter fuel help to the people entitled to it. The Energy Bill Support Scheme Alternative Fund was supposed to help nearly one million households who don't pay an energy supplier directly.   20,000 households in care homes got this money, but according to new BBC Verify analysis for this programme that suggests 1 in 7 who were eligible, didn't.  The government says it spent billions of pounds helping millions of households last winter with their energy bills, covering nearly half the cost of a typical household's bill.  

On Monday major changes begin in the way we are sold financial products and services by regulated firms like banks, insurers, advisers. Not only will they have to stick to the 20 year old rules about treating customers fairly. They will be subject to a new Consumer Duty.   What is it and what does it mean?  

A scheme which offers debt advice and help with money problems through doctors’ surgeries, is being extended thanks to some new funding.  We first reported on the trial two years ago.  Since then the Centre for Responsible Credit which runs the scheme says hundreds of people have been helped to access hundreds of thousands of pounds in support.

Plus, from 1st August most old first and second class stamps without barcodes are no longer valid.  What should you do if you still have any old stamps?

Presenter: Paul Lewis
Reporter: Dan Whitworth
Researchers: Sandra Hardial and Jo Krasner
Editor: Jess Quayle

(First broadcast, 12pm Saturday 29th July, 2023)

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