This Is Money Show

A large chunk of workers are unaware that their pension savings are invested in the stock market. When asked in a recent survey what they think happens to their cash, the most common answer was that they had 'no idea.' It doesn't make for pretty reading – Lee Boyce and Georgie Frost look at why it matters, and what can be done to get people more interested in their retirement pots. It comes as a reported rift has broken out at the top of government over the state pension triple lock.  A key election promise, but there is a problem: With it rising on whichever is highest: inflation, average earnings growth or 2.5 per cent, it could go up a huge 18 per cent in 2021 under those rules. What changes could happen?  From next month, your teen could be much richer as the first Child Trust Funds mature. What can your 18 year-old do with the cash? One option is not to buy private flights. Lee puts his weekly Consumer Trends column in the spotlight to reveal how much it costs to charter a flight, after

Since the start of lockdown in March, more Britons have ordered supermarket shopping online to be delivered to their door to dodge the crowds and beat the queuing mayhem. This could be perfect time for Marks & Spencer, who will start its long-awaited tie-up with Ocado at the start of September, as the latter ends its 20 year long relationship with Waitrose. M&S is starting a 'back to basics' assault, lowering the prices on everyday items and it comes as its clothing division continues to struggle. Meanwhile, most major supermarkets are now offering same day – and in some cases, next hour – deliveries, are the days of doing the 'big shop' in large stores over? Simon Lambert, Lee Boyce and Georgie Frost take a look. This week saw a shock rise in the cost of living: why has it happened, where will the inflation figure go next and just how many savings accounts now offering more than 1 per cent interest? Seven US firms - Facebook, Apple, Amazon, Netflix, Google parent Alphabet, Microsoft an

We are in the worst recession in living memory for the UK with GDP plummeting by 22.1 per cent in the first six months of 2020. But strange as it may sound, does that matter? We knew things would be terrible as the coronavirus lockdown pressed the pause button on the economy and people’s lives. Shops were shut, businesses were shuttered, everyone who could worked from home, almost 10million people were furloughed, international travel was halted, property sales were frozen and children didn’t go to school for four months. If you’d have predicted that was what 2020 would bring last New Year’s Eve, nobody would have believed you and they might even have called for help. So, it should come as no surprise that the ONS released figures this week showing that this year’s astonishing actions crashed the economy – although the fact that the UK suffered more than any other major economy other than Spain is a cause for concern. The question is, what next? On this week’s podcast, Simon Lambert and G

Can you make a profit and get your money to do some good?  The stereotypical image of the stock market and investing isn’t one of caring about the world around you, it’s more characterised by a make money at all costs attitude. But like many stereotypes that’s not accurate.  Most personal investors are just ordinary people trying to grow their wealth over the long term – and like the population at large many of them care about the environment, people being treated well and business being done properly. But while it has never been easier to be a DIY investor, how often do people really think about where their money is going and what it is doing? Socially responsible investing is a concept that seeks to change that. Trying to get ordinary investors to engage with their investments and use them to improve the world, whether that is at a corporate, social or environmental level. On this second This is Money investing special podcast, Simon Lambert is joined again by Rob Morgan, Charles Stanley D

Interest rates may have been slashed to the bone in the wake of the coronavirus crisis but the threat of a dive into negative rates has remained. This week, however, the Bank of England opted to stick at 0.1 per cent and upgraded its view on the economy for this year, saying GDP will only fall by a worst-in-a-century 9.5 per cent rather than a worst in 300-odd years 14.4 per cent. It also hinted that negative rates could do more harm than good, so does that mean a base rate below zero is off the table for the UK? On this week’s podcast, Simon Lambert and Georgie Frost discuss negative rates: what’s the point, do they have any positives and beyond costing savers’ interest how would they prove harmful? They also talk gold and why the price of the precious metal has soared 35 per cent this year, to rise above the $2,000 mark and whether it can keep going. For goldbugs it is a long-term store of value, a safe haven and a hedge against inflation, but will fears of bumper inflation at the end of the

After a great deal of fuss about air bridges and people being able to go on summer holiday, things suddenly changed last weekend.  A swift about turn saw a 14 day quarantine period imposed for those arriving in the UK from Spain at just six hours’ notice, hitting tens of thousands of holidaymakers who are there already, those with trips booked and leaving Britons hoping for some Spanish sunshine stuck in travel limbo… again. So is this the end of summer holidays for 2020? Are holidays to Spain off the cards for some time, and can you go to France, Italy, Greece or anywhere else safe in the knowledge you can come home and not have to take an extra fortnight off work? On this week’s podcast Georgie Frost – in Spain and facing a 14 day quarantine if she can get back – is joined by Simon Lambert and Grace Gausden to talk holidays, travel insurance, refunds, air bridges and whether even a staycation is safe. Plus, as savings rates take another tumble should you lock your money away for five years at 1.

Over the long-term investing in the stock market has proven to be the best way to beat inflation and grow your wealth. But how do you know when the time is right to start? What are the things to consider when working out what investments might suit you? And do you need to wait until you are wealthy before you become an investor? In this first of two special This is Money podcasts, Simon Lambert is joined by Rob Morgan, of Charles Stanley Direct, to help listeners through the investing maze and give them an easy to understand guide to getting started investing The most recent edition of the longstanding Barclays Equity Gilt report showed that investing in the UK stock market has delivered an average annual above inflation return of 5.3 per cent over the past 50 years, whereas cash has returned 1 per cent. But investing is not without its risks. You must be prepared to potentially lose money and may need to ride out market crashes, as we have seen in the coronavirus crisis. However, another thin

The Chancellor has ordered an urgent capital gains tax review which could hit many homeowners and investors, depending on the outcome. With Rishi Sunak and the Government looking at ways to foot the coronavirus bill, will CGT be changed and will they keep their manifesto pledge to not raise income tax, national insurance or VAT? On this week's podcast, Simon Lambert, Lee Boyce, and Georgie Frost look at what could happen to CGT and why. We discuss the problem facing 'cladding prisoners' – people who are trapped in flats wrapped in dangerous materials that are unable to sell, or take advantage of the stamp duty cut, with banks nervy to lend to would-be buyers. A reader contacts us about an unusual letter from their bank seemingly randomly asking if they are a tax resident of Egypt, with no connection to the country whatsoever. Are you an aspirational recycler? We talk you through our guide on how to recycle, properly. Travel is still on our lips, with Georgie booking a trip to Spain: What do yo

The showstopper was a big stamp duty cut, the important element was about keeping jobs afloat, and the rabbit out of the hat was a great British meal deal. But the question is, was Rishi Sunak splashing the cash in the summer statement enough to get the nation’s confidence back in the wake of the coronavirus crisis, or will real recovery require more down the line? On this week’s podcast, Simon Lambert, Lee Boyce, and Georgie Frost run the rule over the Chancellor’s performance (spoiler alert, he’s good) and the substance of his speech (you’ll have to listen to the show for the verdict on that). They also ask the awkward question of how are we going to pay for all this – and does that even matter right now? Plus, was that a killer blow for the ‘bad tax’ that is stamp duty; will a £1,000 bung be enough for a company to keep someone in work; how badly will the hospitality industry be hit; and just how crazy would you have called someone who forecast at the start of the year that by summer we’d have

The Chancellor’s coronavirus rescue plan for the British economy has been bold and big, but one important part of the workforce feels somewhat hard done by. A chunk of the self-employed have been excluded from Rishi Sunak’s support in a way that employees have not. More than 9million employees are having 80 per cent of their wages up to £2,500 a month paid by the taxpayer under the furlough scheme, with no limits barring high earners from help. In contrast, anyone who is self-employed and has made more than £50,000 in recent years gets no help whatsoever.  Those hit by the £50,000 cap are not the limited company directors who can pay themselves in dividends, they are sole traders paying national insurance and income tax in full on their earnings. At a time when the government is throwing hundreds of billions of pounds at the coronavirus crash to support people and boost the chances of recovery, is it fair to exclude this group of the self-employed? On this week’s podcast, Simon Lambert, Geor

In an unpredicted turn of events, the coronavirus lockdown has been good for some when it comes to their bank balances. People collectively tucked away £30billion in savings accounts in March and April, around three times as much as the two months previous - with this credited  to surplus cash and moving money to safety. A large slab of that went into easy-access accounts despite plunging rates. Meanwhile, we cleared a record amount of personal debt, according to Bank of England figures. The ONS says households are spending £183 less a week, but while some might be lucky to salt that away, many wouldn't come anywhere near it. Lockdown saving is not a universal picture. Many are facing up to lost income or losing their jobs entirely. In this podcast, editor Simon Lambert, assistant editor Lee Boyce and host Georgie Frost take a look at the figures. Much of the money stashed away at big banks pays 0.1 per cent or less, meaning collectively, billions of lost interest – where are rates heading?

Banks and building societies have been slashing their mortgage ranges for those with smaller deposits. The number of mortgages available for those with a 10 per cent deposit has plummeted by 90 per cent compared since the start of March. This week, Nationwide announced it won’t lend on deposits smaller than 15 per cent, while TSB says even that’s not quite enough. What’s going on and is this triggering a mortgage credit crunch? On this week’s podcast we look at how the mortgage squeeze compares to what happened after the financial crisis, how this will affect those who want to buy and those who need to remortgage. Will the crunch last and send house prices down? Or has Britain’s property market got the kind of Terminator characteristics that will see it claw its way back up from coronavirus? Also, this week, as inflation nosedives we look at how savers can now beat the cost of living – are they really better off? And finally, while the nation is supposedly feeling the punch from the econo

Stock markets crashing tend to put savers off investing in shares, but there has been a sizeable rise in new investors in Britain during lockdown, reports suggest.  That came as savings rates plummeted (again) and people decided to go hunting for a bargain amid the stock market turmoil in March and April. But who are these novice investors and what do you need to think about to get started?  On this week's podcast This is Money editor Simon Lambert tells host Georgie Frost what first timers need to know about building an investment portfolio - and gives some tips on easy ways to get started and why British isn't always best for investors. Managers can invest in their own fund or investment trust, but how do you find out if they do - and whether they're buying or selling, and does it matter?  Meanwhile, Goldman Sachs backed Marcus Bank has pulled its best buy easy-access savings account – assistant editor Lee Boyce reveals why and how we are set to see rates tumble even further. Should you ga

Since lockdown began in March, there has been a huge uptick in cycling and walking, as people got out and about while staying at home.  But while before coronavirus we were all told public transport was a good thing, now with restrictions easing and Britain slowly going back to work, Britons have been told to actively avoid it. Does that mean the inevitable return of the car, or with the Government promising billions to create a new era for cycling and walking, is there a brighter and greener future for mobility Could one of the keys be electric bicycles and scooters? Editor Simon Lambert reveals all to host Georgie Frost and assistant editor Lee Boyce after giving a GoCycle GX folding electric bike a trial. How good are the batteries, how long do they take to charge, how much do they cost, what schemes are available to purchase them and what is the point of them? Meanwhile, the car industry has been rocked by Covid-19, with job losses aplenty and sales grinding to a halt. Registrations sank 8

It's nearly June, the sun is shining, and right about now people would usually be eagerly anticipating summer breaks they’ve booked, or planning where to go away. Meanwhile, the sunny weather over the past few months would usually have led to thoughts (and lots of features) on a staycation summer. But this isn’t any given year. Coronavirus and the lockdown means we are advised not to travel abroad, don't know when we will be able to, and might have to take an extra two weeks off to quarantine when we get back. That should means it’s Cornwall, Devon, Norfolk, Wales, or a week in Skegness on our minds, instead of France or Spain.  Overnight trips are still barred though, the domestic holiday industry is unsure when it will be back up-and-running, and some locals are reportedly not too keen on visitors. So, will we get a holiday this summer and how can you protect yourself when booking and paying? On this podcast, Simon Lambert, Lee Boyce and Georgie Frost talk holidays: where to go, when yo

The threat of negative interest rates is looming large for savers. This week, a government bond auction saw UK gilts sold at a negative rate for the first time, while Bank of England boss Andrew Bailey refused to rule out the base rate flipping below zero. But could you end up with a negative rate on your savings account? On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost look at the weird world of negative rates – an upside down where investors effectively pay to lend the government money, banks are charged interest for depositing funds with the Bank of England, and you’d end up being stung rather than rewarded for saving. Not that there’s much reward for saving in many places right now: a This is Money investigation this week revealed that 235 savings accounts now pay 0.01 per cent interest.  That is 10p per year on £1,000 saved and some may prefer not to be insulted in that way and have their bank or building society join the six accounts where absolutely zero is paid. The

A This is Money investigation has revealed a string of women who have been underpaid their state pension, but are they just the tip of an iceberg? On this week’s podcast, our pensions agony uncle Steve Webb and pension and investing editor Tanya Jefferies tell the stories of the women paid thousands less in state pension over the years than they should have been - and discuss their probe into the matter. Steve estimates that there could be tens of thousands of women who have been underpaid state pension. This is Money has called for a full review, but the Department of Work and Pensions is reluctant to act other than on a case-by-case basis.  Should more be done? Also, on this week’s podcast Simon Lambert and Georgie Frost discuss the reopening of the property market, who might be brave enough to buy and sell now, and what the forecasts are for sales and house prices. Estate agents Knight Frank predict a 7 per cent drop, while the Bank of England says property prices may fall 16 per cent, bu

The latest Santander 123 account rate cut, trying to turn a profit on mortgage holidays, how we pay for the coronavirus crisis and furlough scheme and the crash in car sales all feature on this week’s This is Money podcast. Once upon a time, Santander’s 123 could lay claim to being the king of the current accounts. As banks battled to customers to switch, Santander’s cashback and 3% interest-packing deal was one of the main challengers for the crown. The shine came off slightly when that interest rate was chopped to 1.5% in 2016, but now the 123 account has been doubly dented with a rate cut to 0.6% announced on the very same day the rate was already being cut to 1%. In all but name it’s now the Santander 1, 2, 0.6 account and that doesn’t quite have the same attraction. But when letters are coming through the post telling you that your savings account has been chopped to 0.01%, perhaps it is still worth bagging a current account paying 0.6%. On this week’s podcast, Simon Lambert and Georgi

It’s been called the Fomo rally, as shares picked themselves up off the floor after a diabolical March and bear markets turned bullish. The FTSE 100 closed a notch below 5,000 on 23 March, the day it was announced Britain was going into lockdown, but somehow managed to bounce 23 per cent to the middle of this week before slipping back. In the US, April was even more astonishing – the S&P 500 had its best month since 1987. So, what’s going on? Is this the stock market signalling the start of a coronavirus recovery, or have investors merely been piling in driven by Fomo – the fear of missing out. The big US tech names’ star turn has helped drive confidence and in the UK it has been the big names hit hard that have rebounded over the past four weeks, including housebuilders, Next, Cineworld, ITV and the FTSE 100’s top riser is cruise ship firm Carnival – up 63 per cent as brave investors buy in. But are investors getting ahead of themselves and simply all chasing in the same direction like kid

Meaning Business is a new podcast series, where Simon Lambert speaks to people from the world of business, who are doing interesting, innovative and meaningful things. It will appear in your feed, in addition to our usual weekly This is Money podcast. In these interviews, Simon will find out more about the other side of business away from profits and growth - and how it can be a force for good.  Meaning Business will uncover the stories behind business ideas, the inspiration driving entrepreneurs and how those interviewed cut their path to where they are today. On this first episode, Meaning Business gets topical and speaks to Craig Wilson, Managing Director of Williams Advanced Engineering and part of the Ventilator Challenge UK project. Williams Advanced Engineering draws on the motorsport heritage, knowledge, technology and way of working of the Williams Formula One team, and it has been involved in Ventilator Challenge UK – working with other high-tech British engineers to get more ventilat