Dear Listener,

Sorry this is so late but…

It has been yet a third week when mortgages were made tougher to get and rates were put up (despite no movement from the Bank of England). On Friday Britain’s biggest mortgage lender – the Halifax – joined in by putting up rates for new borrowers by an average one eighth of one per cent and demanded bigger deposits from those wanting the best deals.

Halifax’s Chief Economist tells us he thinks the pain and the problems have been exaggerated.

You’ll go to bed on Saturday in 2007/08 and wake up on Sunday in the brand new tax year 2008/09. And what changes there will be! Income tax rates cut and raised, national insurance thresholds ditto. Result – some lower income earners (and non-earners) will pay more tax. And those on twice average earnings will be hundreds of pounds better off. The Treasury rejects calls from MPs to halt the changes. Also forget stories that the capital gains tax changes mean the tax rises by 80%. For many people it falls.

Self-assessment is changing too in 2008/09 with a new form and a drive to make us do it online. If you insist on using paper you have to get your tax return in three months earlier.

A major card company comes under fire for changing the way it publishes customers’ accounts online. The new version stops visually impaired people using specialist software to read the numbers out to them.

And we discuss a Scottish Government plan to scrap council tax (hooray) and replace it with an extra 3p on income tax (booo!). It says 90% of people will be better off. But do the figures add up?

…it’s been a very busy day with lots of changes. But we’ll be on air, as ever, Saturday at noon and repeated Sunday at nine pm. Or you can hear the programme when and where it suits you by downloading the podcast for your MP3 player. Or you can listen online. www.bbc.co.uk/moneybox .

Best wishes,

Paul Lewis

PS Don’t forget the live preview of Money Box on BBC1 Breakfast between 8.45 and 9 on Saturday morning.

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