Money Box
Summary
Over 15,000 people have replied to a government review about bank access after many branch closures over the past decade. A report found that HMRC wrongly stopped child benefit payments due to errors in a new fraud prevention test. The Winter Fuel Payment rules have changed, and VAT tax has been cut on some children's attractions.Key Facts
- Nearly 7,000 bank branches have closed in the past 10 years, with more closures recently announced.
- More than 15,000 people responded within three weeks to a government review on banking services.
- Richard Lloyd, former director at Which?, leads the banking review and gave his first interview.
- HMRC wrongly suspended child benefit payments to thousands last year during a pilot program to reduce fraud.
- The National Audit Office reported the HMRC mistake and said lessons must be learned.
- People born on June 27, 1960, are the youngest to receive the Winter Fuel Payment this year.
- Normally, eligibility for the Winter Fuel Payment starts three months later.
- VAT (value-added tax) has been reduced on summer attractions for children like theme parks and fast food discounts.
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