Dear listener,

In Money Box this week:

The Treasury confirms that one in five households will be worse off after the tax and tax credit changes announced by the chancellor this week. And almost all of them will be on low incomes. We look at what the chancellor's complex package of changes will mean - some will gain, others will lose. Which side will you be on?

One thing we will have to watch is our pension contributions. People who pay tax at the basic rate will have to pay more to protect the amount going into their fund.

And every penny they give to charity could be worth less.

We also hear about the bank which says open a current account with us – or else.

And the disappearing £8 billion. The chancellor said that was the total cost of pension compensation for 125,000 people. We hear it could actually be much, much less.

That's Money Box – live on Saturday at noon, repeated Sunday at 9pm and any time (after midday) on the web.

Best wishes,

Paul Lewis

e-mail Paul Lewis