MT Digest - Could zero standing charge tariffs soon be a thing?
A quick reminder that this is the last Money Talk newsletter for the year. It’s back again on the 5 January 2025.
What to read right now…
Oh dear. Demand for staff in the UK is falling rapidly as business confidence slumps. Essentially, companies have stopped hiring as they’re worried about the future of the economy.
Some of it at least is to do with the Autumn 2024 Budget, which applied the brakes to public spending.
What could make a big difference is the fact that government departments will have to submit their spending plans to external experts as part of a huge shake up of public spending.
Chancellor Rachel Reeves has also appointed a Covid corruption commissioner to try and claw back some of the money lost to fraud during the pandemic.
Some good news: industry regulator Ofgem wants to make it mandatory for energy suppliers to offer a zero standing charge tariff.
It’s potentially a game changer as, technically, if you don’t use any energy, you won’t have to pay for anything. Although of course per-unit costs will go up to offset the loss in income, which means it’s not a good option for those who use a lot of energy.
The deal that’s a steal…
If you feel like you’re in need of a reset, Rena Spa at Leonardo Royal Tower Bridge Hotel has a great offer through SpaBreaks*.
For £52 per person, you’ll get two hours’ access to its spa, which has a 25m swimming pool, Jacuzzi, steam room and sauna.
Afterwards, you’ll enjoy an afternoon tea for two with prosecco.
Robe, towel and slippers are provided so you just have to rock up with your swimwear.
There are lots of other offers on SpaBreaks of course, especially last minute ones*, but I like that you can take advantage of this deal at any time of the year.
If you only do one thing…
I wanted to say a quick thank you to everyone who’s been reading Money Talk this year, and signed up for the newsletter.
If you enjoyed it and found it useful, do me a favour and forward it to someone you know and who might find it useful too.
Growing a website and newsletter is always difficult, especially in an age where a change in Google algorithm changes everything.
So even if you only send it to one person, you’ll be helping more than you know.
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Best buys
Accounts with some of the best rates around. The full list here.
Current account:
Nationwide Flex Account 5% AER (first 12 months up to £1,500; for new customers only)
Instant access savings account:
Chip Easy Access Saver* 4.50% AER (penalty for more than three withdrawals)
Marcus Online Savings Account 4.30% AER
Regular savings account:
First Direct Regular Saver 7% AER (pay in up to £300 a month)
Natwest Digital Regular Saver 6.17% AER (pay in up to £150 a month, with higher rate paid up to £5,000)
RBS Digital Regular Saver 6.17% AER (pay in up to £150 a month, with higher rate paid up to £8,000)