News - Pre Budget Report 2004
BBC Radio 4’s Money Box was broadcast on Saturday, 4 December, 2004 at 1204 GMT.
The programme was repeated on Sunday, 5 December, November, at 2102 GMT.
Chancellor Gordon Brown has delivered his 2004 Pre-Budget Report and announced a huge range of what many believe to be pre-election sweeteners.
He has insisted the spending is “affordable” because the UK is enjoying a low-inflation economy, and house prices are now stabilising.
He said the UK has been enjoying the longest period of growth in “industrial history”.
But his outlook on the economy has been met with cynicism by opposition parties and city experts, who fear his over-optimistic stance will lead to tax rises, spending cuts, or both.
The chancellor has refused to rule out future tax rises.
His announcements included an extra 600m spending on childcare, increased parental benefits, a 1bn attempt to keep Council Tax rises down, extra money on the Winter Fuel Payment for pensioners, extra money to help people back to work, and a clampdown on tax avoidance.
To discuss the report in detail we were joined by:
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Payment protection insurance
Credit card customers are increasingly getting the hard sell on payment protection insurance as lenders look for profits in a competitive market.
Louise Greenwood reported.
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A&L transfer charge
Alliance & Leicester have been charging customers 25 to transfer from its ISA deal when it ends, a charge one Money Box listener is adamant she was not warned about.
We asked Nathan Barber-Kebby, Savings Product Manager, Alliance and Leicester to defend this policy.
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Consumer fury at Courts
In one incident, police were called to a store in Wales
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Insolvent furniture store Courts has been forced to keep stores closed after threats from disgruntled customers.
The company went into administration earlier in the week after collapsing under the weight of its debts.
A full stock-check has identified more than 3,000 customers who will be able to pick up their orders when stores re-open.
But many others have lost money as Courts’ furniture maker suppliers will now not complete outstanding orders.
Courts has urged customers to contact their credit card companies to check if they were insured, but those who have paid by cash or cheque have been told they will not receive either goods or a refund.
The KPMG helpline for worried customers is 0870 950 1333. It is open Monday to Fridays 0800-2000 GMT, Saturdays 1000-1800 GMT, and Sundays 1000-1700 GMT.
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Producer: Jennifer Clarke
Presenter: Paul Lewis
Reporter: Louise Greenwood
Web Producer: Nathalie Knowles
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