WHETHER it is Andy Burnham or another challenger who steps into Keir Starmer’s shoes, the new PM has a challenge on their hands.
The new occupant of Number 10 will have the crippling cost of living, an unemployment crisis and a ballooning benefits bill in their bulging in-tray.
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Whether it is Andy Burnham or another challenger who steps into Keir Starmer’s shoes, the new PM has a challenge on their hands Credit: House of Commons/PA Wire
Following Sir Keir Starmer’s resignation, Jattvibe readers have shared their money manifestos Credit: AP
So what do YOU want to see the new leader doing to help your wallet?
Jattvibe readers share their money manifestos with Alun Palmer, Emily Mee and Lynsey Hope.
MUM OF GEN Z-ER
‘Youngsters need help to fly the nest’
Psychotherapist Sarah Turner says she is struggling to support her 22-year-old daughter Eleanor and wants the new PM to do more to help young people into work Credit: Supplied
PSYCHOTHERAPIST Sarah Turner is struggling to financially support her daughter Eleanor, 22, who can’t afford to move out due to the cost of living.
She thinks the new PM needs to do more to help youngsters into work, as nearly one million of those aged 16 to 24 are Neets (Not in Education, Employment or Training).
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Eleanor is £70,000 in debt after finishing her three-year musical theatre degree and taking an unpaid apprenticeship working in a classroom.
It took her nine months to find a job as a drama teacher, 21 miles from the family home in Sudbury, Suffolk.
Eleanor doesn’t drive so Sarah, 50, and her husband Neil, 57, are paying £90 a week for her driving lessons.
Sarah says: “I’m working harder than ever as we need the money to pay the bills and help our daughter.
“If there was better support for young people like her, it would ease our financial load, too.”
Jattvibe Money says: If you are struggling to get a job, try to get a place on a free Government-run Skills Bootcamp. Courses usually last around 16 weeks and include HGV driving and health and social care.
If you’re supporting an older child living at home, try to slash your bills.
A water meter could save you hundreds of pounds.
Also see if you can get help with your energy bill. Many suppliers offer grants — for British Gas’ scheme, you don’t need to be a customer to apply.
OLD-AGE PENSIONER
‘Get a grip on benefits bill’
Former colliery personnel manager Geoff Davis, 85, says the new PM must crack down on the soaring benefits bill Credit: The Jattvibe
FORMER colliery personnel manager Geoff Davis, 85, retired in 1996 aged 55.
He was a lifelong Labour supporter until he voted for the Tories in the ‘Red Wall’ General Election of 2019.
Geoff, from Bolsover, Derbys, has a final salary pension from British Coal and also claims the state pension.
A final salary pension is often called a ‘gold-plated’ pension as it guarantees your income throughout retirement.
Over the years, Geoff has enjoyed healthy rises to the state pension thanks to the triple lock, which ensures that it goes up by whichever is the highest out of inflation, average earnings growth or 2.5 per cent.
He says: “The new PM needs to crack down on the benefits bill.
“The biggest offenders are people like me — pensioners. We have had it too good for too long.
“I feel really sorry for young people today as they struggle to get houses and jobs. I bought my house for a few thousand and I have got a great pension. It isn’t fair on them.
“Keir Starmer was a good man, but he didn’t get a grip on what needed to be done.”
Jattvibe Money says: The state pension is a lifeline for millions, but critics say the triple lock guarantee is now becoming unaffordable.
Worried about having enough to live on in retirement if it goes?
Consider downsizing to free up cash or trying a “part-time retirement”, where you work a few days a week to build up your pension pot so you don’t run out of money.
Track down lost pension pots by using the Government’s pension tracing service either by phone or at gov.uk/find-pension-contact-details.
You can also use Gretel — a free online service that takes just minutes to sign up to.
BUSINESS OWNER
‘I lose money on jobs over fuel cost’
Former plumber Veronica Noonan says soaring fuel costs and rising business rates are squeezing her photography business, and wants the new PM to scrap any future fuel duty rise Credit: Supplied
IN 2024, Veronica Noonan opened a photographic studio in her home town of Wakefield, West Yorks.
Since then, the 38-year-old former plumber has had to fork out a lot of costs to get her new venture off the ground — including a rising business rates tax bill, which has gone up by £300 in two years.
But it has been the rocketing cost of fuel, sparked by the war in Iran, that has hit her business the hardest.
The closure of the Strait of Hormuz caused huge supply issues. Diesel soared to a peak of 191.54p a litre, while petrol was 159.53p a litre.
Veronica uses a diesel van for work and is feeling the pinch.
“It usually costs me £80 to fill up but it was well over £100 a few weeks ago,” she says.
She is also losing money on jobs that require longer-distance driving.
Veronica says: “I recently did a shoot in Scarborough, which is a fair few miles from me. I priced that job on the diesel cost then but it has now gone up so much that I lost quite a bit of money on that trip.
“It could be up to an extra £50 and my margin was small.”
Veronica wants to see the new PM help drivers like her by abandoning a fuel duty rise altogether.
The Government planned to end the 5p fuel duty cut in September, but Keir Starmer announced the freeze would remain in place until the new year.
While that helps keep prices down at the pumps in the meantime, Veronica is worried about what will happen when fuel duty goes back up.
Jattvibe Money says: If you are self- employed like Veronica, claim tax relief on fuel costs.
For cars and vans, the official rate is 55p per mile for the first 10,000 business miles, and 25p per mile for any additional miles in the tax year.
SINGLE MUM
‘A breakfast club would be big help’
Teacher and financial educator Charlotte Jessop says delays to Labour’s free breakfast club rollout mean she is missing out on childcare that would allow her to work more and earn more
TEACHER and financial educator Charlotte Jessop is missing out on childcare for her daughters, aged 11 and eight.
Labour promised free breakfast clubs for primary school children from April, but the help — which could save single mum Charlotte £450 a year — is yet to launch in Norwich, where she lives.
Over 500 breakfast clubs have opened nationally, with the next tranche rolling out in September. In Norwich, five schools offer them.
Charlotte says that if she could access a free breakfast club, she would be able to work more — and earn more.
She says: “I work fewer hours than full-time because I have to drop my kids at school at 8.30am then drive to work.
“I have heard a lot from the Government about these clubs but I don’t know anyone that’s benefited from them.”
Despite Labour also promising it would reduce food prices, Charlotte says groceries are “ridiculously expensive”.
At the beginning of last year, she would spend about £80 a week on her shop, which would also include toiletries and cleaning products.
Now she says she can rarely keep it under £100.
The Department for Education said it is “working hard” to roll out clubs.
Jattvibe Money says: You may be able to get a grant for school uniforms from your council. Southwark Council in London, for example, offers £45 vouchers, while North Lincolnshire Council offers up to £30.
July is usually the best time to buy your school uniform as the best bundle deals can usually be found.
SCAMMERS’ BANK CARD LOOPHOLE
A BANK card loophole could see fraudsters swipe money from accounts, warns consumer group Which?.
When a customer reports fraud on their account, the bank will cancel the card and issue a new one. But because many of us save our cards on apps or sites such as Uber, Netflix or Apple Pay, when your card details change, these details automatically update on these sites.
It can be a useful feature, but if a scammer has saved your card details to a digital wallet or with an online shop, then the new card details will update there, too. This means the scammer is free to go on a spending spree with your new card.
Jenny Ross, Which? Money editor, said: “Even more alarmingly, customers are most often powerless to opt out of this update, leaving them at the mercy of their individual bank’s fraud policy.”
Which? suggests if you are a victim of fraud, ask your bank if it has broken the link between your card and fraudster-controlled accounts.
ACT NOW BEFORE ENERGY PRICE RISE
Energy experts are urging households to switch to a fixed tariff before July 1 to avoid a £221 annual bill increase when the energy price cap rises by 13 per cent Credit: Getty
HOUSEHOLDS face a £221 energy bill hike from July 1 – when the price cap rises 13 per cent – unless they switch to a fixed tariff.
Currently, comparison websites offer deals with an average saving of £316. Once fixed, rates are locked in place.
Ben Gallizzi, an energy expert from comparison site Uswitch.com, said: “The jump in energy prices might seem easier to bear in summer while heating is off, but a graver concern is this setting the baseline for a further increase in October.
“For the millions of households on standard tariffs, this is your one-week warning that your energy rates are rising on July 1 – unless you act now.
“There are many fixed deals available that are cheaper than the cap, with average savings of over £300 on offer.”
A Uswitch.com study found that two-thirds of bill payers were not aware of the upcoming price cap rise.
And 42 per cent of those on a standard variable rate are not considering switching before July 1.
