What might negative interest rates mean for UK banking services?

04/03/21 • 35 min

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Fancy earning interest on a £10,000 loan? We’ll find out about what negative interest rates mean for consumers in Denmark and what might happen if they were introduced here. Felicity Hannah talks to Niels Arne Dam, Chief Economist at Finance Denmark and Paul Pester, former CEO of TSB and currently the chair of research and ratings agency Fairer Finance.

Women’s finances have been hit harder than men’s by the Covid crisis, so could that risk a widening wealth gap and how do we fix it? Maike Currie, investment director at Fidelity Investments and Professor Annamaria Lusardi, head of the Global Financial Literacy Excellence Center at The George Washington University School of Business have some ideas.

And, if you’re eating too much chocolate this weekend then you’re not alone! But can that tell us anything about how you plan your pension, your investments, your savings? Or does it just mean you like chocolate? Felicity talks to Dr Pragya Agarwal, a behavioural data scientist and Claire Walsh, a chartered financial planner.

Researcher: Jonelle Awomoyi Production Co-ordinator: Janet Staples Sound Engineer: Graham Puddifoot Producer: Ben Carter Editor: Emma Rippon

Researcher: Jonelle Awomoyi Production Co-ordinator: Janet Staples Sound Engineer: Graham Puddifoot Producer: Ben Carter Editor: Emma Rippon

Previous Episode

Number spoofing facilitating fraud

All too often we hear about fraudsters using the phone to trick victims into handing over thousands or tens of thousands of pounds and destroying lives in the process. But how often to we get to hear an actual recording of these criminals in action? We play a recording of a fraud call in progress because a criminal made the terrible mistake of calling our Money Box reporter Dan Whitworth. Paul Lewis talks to Graeme Biggar, Director General of National Economic Crime Centre for the National Crime Agency and MP Steve Baker, who's a member of the Treasury Select Committee.

The Government plans to put more regulations in place to address the widespread concerns about the poor practice and behaviour of private car parking operators. A new code of practice will be drawn up, with the system being introduced by the middle of next year. Paul talks to Steve Clark, Director of Operations and Business Development, British Parking Association.

The FCA says it has no current plans to take further regulatory action against a compensation scheme set up by the guarantor loans lender Amigo - despite admitting the scheme might not be compatible with its current rules. Sara Williams, founder of the debt advice website Debt Camel, talks us through the latest developments.

Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Jonelle Awomoyi Production Coordinator: Janet Staples Producer: Ben Carter Editor: Rosamund Jones

Next Episode

Divorce and separation during the pandemic

There’s been a rise in the number of divorces according to the Office for National Statistics along with predictions that even more couples will split as a result of the coronavirus crisis.

Many law firms are reporting huge spikes in the number of separations during the pandemic.

Plans for new “no fault” divorce rules are due to come in in the next few months and will abolish the need to blame one of the parties when pursuing a divorce.

But what happens to the finances during all of this? What if a couple weren’t married or owned some assets before the marriage?

Presenter Louise Cooper will be joined by:

Rhona Adams, partner at Morton Fraser and head of the family law team Claire Gordon, family law partner at Farrer & Co Michael Royce, senior policy and propositions manager at the Money and Pensions Service

E-mail [email protected] or tweet @Moneybox now with your thoughts, questions and experiences.

Producer: Darin Graham Editor: Richard Vadon