BBC Radio 4's Money Box on Saturday 21 June at 1204 BST – Paul Lewis writes...writes…writes

(that’s to try to stop the gremlins gremlins gremlins sending this newsletter out three times as they did yesterday. Apologies. Apologies. Apologies)

The new train ticket system due in September is supposed to make prices more transparent and ticketing choices simpler. And not a moment too soon. I had to travel from London to Leeds this week so I logged on to the National Rail website to find the cost for a return ticket. The cheapest was £43 but only if I knew days in advance what train I would get there and back. I didn’t. If I wanted complete flexibility it would cost me £206 (this is to Leeds, Yorkshire, not Leeds, Alabama). Other return fare choices on specified trains included £75, £56.50, £49.50, £81.50, and £107. I never travel first class but that would have cost up to £308, slightly more than a taxi. So I decided to leave it and speak to a human at the station. After queuing for only five minutes I got a £79.20 saver return with no restrictions on when I went or came back (I was there at 10am). Not cheap but better than driving 400 miles. Roll on 7 September.

I had been invited to Leeds by the Community Finance Development Association (they know they need a catchier name) to speak at its annual meeting about the challenges and opportunities for this alternative – and little known – finance sector. You can read what I said on my website. But in the end I think I learned more over lunch and coffee than they did in my allotted 30 minutes (one reason I am asked to do these things is that Radio 4 training means if they ask for 30 minutes they get 30:00 dead and can start their coffee break on time). I met people working in their local community to provide loans, help people stay in their homes, claim benefits, and sort out debts. Others provided finance for small start-up community businesses. And some find the capital to do that by paying locals with cash to save a decent rate of interest.

Back in London – and let me say the trains were on time, comfortable and had a power feed for my laptop but no vegetarian feed for me – we are grappling as usual with what to put in Saturday’s programme.

Banks of course are in the news with Barclays getting a £4.5 billion capital boost from Qatar and Japan and HBOS shareholders approving its rights issue. But what should 1.5 million small shareholders do? Should they buy more shares, sell their rights, tailswallow, or just panic? Experts will advise.

Some said the Government’s plans to end to age discrimination were a bit of a damp squib. But that didn’t stop the insurers going off like a rocket saying new laws on age discrimination were unnecessary. Two sides will slug it out on the programme. And a Minister will explain the Government’s plans.

A meeting for the people who invested in the land-banking scheme run by UKLI was called by the firm’s administrators this week. It’s not looking good for people who typically paid between £15,000 and £20,000 for small plots of land that are now valued at less than £200. Money Box had a reporter at that meeting and she’ll be telling us more.

And new best buy tables were launched by the Financial Services Authority this week. Payment Protection Insurance has had a bad press. The FSA website helps people find the cheapest insurance rather than paying the high price charged by many lenders. But is the website clear?

Money Box – live on Saturday at noon, repeated on Sunday at nine pm. Or download the podcast for complete listening freedom.

And now, this week’s…

…Crown Dependency Money News

Jersey has just embarked on a major revamp of its income tax system. The most anyone will pay under the new rules will be 20% of their income (for landlubbers, there’s no higher rate tax in Jersey). A complex system of tax allowances and reliefs will be phased out – though individuals can choose to retain the allowances and pay tax at 27% on the rest. Some reliefs will continue including married couple’s and child allowance and reliefs on employment costs and some life insurance policies. The change is designed to raise more tax on incomes – though some will pay less – to replace revenue lost by a cut in tax on companies.

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.

e-mail Paul Lewis