|Hello and welcome to this week’s Daily Express Money newsletter.|
The BackTo60 campaign continued to push for their cause this week as Joanne Welch, the founder of the group, criticised both Boris Johnson and Keir Starmer. The group argued the Prime Minister previously detailed that he would look into the “injustice” but this evidently did not come to pass. Full details can be found in the first story below.
Elsewhere this week, NS&I unveiled dramatic plans for their Premium Bonds and savings products. The government backed institustion announced they would be lowering their rates for a range of products in the coming months and Martin Lewis was as shocked as anybody else on the news.
The Money Saving Expert warned that, in his view, the changes from NS&I could be “foreshadowing” negative interest rates down the line. This isn’t as farfetched as some may think, as the Bank of England has recently hinted that negative rates are in the “toolbox” and could be introduced if need be, with full details on this laid out in the story below.
As the end of September approaches, there is an unfortunate reminder that winter is on its way as the Winter Fuel Payment qualifying week kicked off for certain state pensioners. State support in other areas have seen somewhat of a slump as DWP figures revealed that PIP claims are down, even with face-to-face assessment rules being updated.
Finally, savers and workers may want to get prepared as the story below details possible furlough plans the Chancellor of the Exchequer may introduce. This coincides with calls from Andrew Bailey, the governor of the BoE, to rethink how the furlough scheme can be adapted, just as the Prime Minister announced new preventative steps to halt a second wave.
If all of this sounds like too much to bear and you’d rather try to escape the UK this winter, our final story can help you with some invaluable travel insurance tips. Find out more below.