Dear Listener

Both talks I did this week were to about 200 people. But apart from that they could not have felt more different.

Talk number 1 was in the Square Bar pub in Leicester, which is taken over once a month for a lecture by Leicester Skeptics in the Pub (the spelling is theirs). And boy were they sceptical. Normally they have lectures about the failures of homeopathy or the perils of creationsism. It is a rationalist bunch as you might expect in the town which boasts the oldest secular society (founded 1851) in Britain. Normally they hear about the failures of homeopathy or the perils of creationism but I was being sceptical about financial advice and financial advisers.

Although they all listened quietly, throughout the talk drinks were being bought and passed around the audience which around me on bar stools and chairs. The dress code was definitely ‘pub’ but they were very appreciative and asked perceptive – and very difficult – questions. But one kind man went so far as to say to me afterwards ‘that was the most sense in the shortest time I have ever heard.’

Talk no. 2 was – or appeared to be – very different. We met in a large room at the Liberty Stadium in Swansea (rugby and (now) Premier League football under one roof). The audience were members of the Local Government Association of Wales and sat quietly in serried rows, without even a cup of tea. Dress code was definitely ‘business’.

But it turned out they were a pretty sceptical bunch too, not least about the need for further changes in their pension scheme and a passionate scepticism about the way households – especially low income households – in Wales were being treated. And they were very sceptical about whether the Westminster Government – as they called it – understood this western part of Britain.

Although the train journey was good in an A to B and back to A sense why oh why no wi-fi on Great Western Railways? So twentieth century. Brunel would not have been impressed. 

***IN MONEY BOX THIS WEEK***

What will happen if Greece defaults on its debts? An economist tells us the good and bad ways to handle a sovereign debt default. And someone who lived through a similar experience in Argentina tells us what it was like. If – or rather when, according to most people we have spoken to - Greece does default what effect will that have on the UK. And what about people with money in Greek banks? Will they lose it?

Tesco Bank customers have found their online instant access accounts have been neither instant access nor online this week after the bank’s computer system collapsed. Several assurances from Tesco that the system was back working again have proved untrue and listeners have been contacting us with problems all week. Tesco Bank’s chief executive comes on live to explain what has gone wrong. And if it really is sorted now.

If you are 55 and have money in a pension should you be able to get your hands on 25% of it as tax free cash even if you don’t want a pension yet? The law says you can but the regulator says it is not a good idea unless you have £100,000 in your pot. As a result some providers and advisers are refusing to take the business. We delve into the detail to find out what you can and can’t do as well as what you should or shouldn’t.

20,000 people who invested £350 million in the disastrous Arch Cru funds which were suspended in March 2009 may eventually get back 70% of their money after the FSA announced another £54mn of compensation this week. We find out what went wrong – and how can people with money to invest avoid a similar disaster in future.

As there are only four items I am not sceptical about whether they will all fit in – they will. But of course events may occur, as they do, to scupper the best laid plans. Find out what is in and what is out by listening on Saturday just after noon or the repeat on Sunday at 9pm or any time to the podcast www.bbc.co.uk/podcasts/series/moneybox. Check out our website www.bbc.co.uk/moneybox to follow links, download transcripts, send us stories or ideas you want us to look into and Have Your Say on one of our stories still be decided.

Money Box Live on Wednesday takes your questions on tax. Call 03700 100 444 when lines open at 1.30pm on Wednesday, or send an e-mail using the link on the programme page.

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Best wishes,

Paul

PS Don’t forget the trail for the programme on BBC1 Breakfast just after 0845. And I am back on breakfast on Thursday around 0640 and around 0820 (though those times are very subject to change) with another story and answering emails from viewers.

e-mail Paul Lewis