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Last Updated: Friday, 9 July, 2004, 14:26 GMT 15:26 UK
Also on Saturday
HM Treasury
Paul Myners will report back to the Treasury at the end of 2004

Do building societies give their customers enough say in how they are run and what the bosses are paid?

The Treasury has appointed Paul Myners to look into the way in which the UK's mutuals are run.

Launching his consultation document, Mr Myners said:

"Mutual life offices are a sizeable presence in the market for life assurance in the UK.

"My challenge is to promote in this sector the very best corporate governance practice for its future health and prosperity."

The consultation will end on 17 September. Mr Myners joined us to discuss the focus of his investigation.

And we asked the director general of the Building Societies Association, Adrian Coles what is being done to address the issues.

Further information:

Divorce and future income

Should a divorced wife have a share of her ex-husband's future income?

The Court of Appeal has ruled that in some cases she should.

Karen Parlour had her maintenance increased from 212,000 to 444,000 a year for four years. This is more than a third of footballer Ray Parlour's future income.

In the same judgement the court also awarded Julia Macfarlane a similar proportion of her ex-husband's future earnings.

She has previously been told she was entitled to 180,000 a year. But this will now go up to 250,000 for five years.

We heard from Mrs Parlour's solicitor Maggie Rae and discussed the judgement's implications with solicitor Claire Meltzer from divorce specialists Levison, Meltzer, Pigott.

Further information:

Credit card repayments mystery

Money Box reveals how one credit card company makes it nearly impossible for some customers to ever pay their bill in full.

Drawing out cash on a Capital One credit card can incur daily interest of 20.5% for as long as you remain a customer. And you might not ever know how much you still owe.

We heard from Graham of Somerset who is left with no alternative but to stop using his card to pay off his bill.

And we asked Martin Lewis of Money Saving Expert if this practice is industry standard.

Further information:

FSCS calls for more funds

The Financial Services Compensation Scheme (FSCS) is asking the industry for an extra 20 million to help it pay out to consumers who have been mis-sold products such as mortgage endowments or high income bonds.

The FSCS is the only body that offers up to 90% compensation, and although it told Money Box it is not running out of money, it will mean people will have to wait longer than expected to get their payouts.

FSCS Chief Executive Ron Devlin explained why.

Bank keeps rate unchanged at 4.5%

The Bank of England has left interest rates on hold but economists expect another rise in rates in the autumn.

Further information:

Pensioner payment becomes law

A one-off 100 payment to the poorest older pensioners to help them with rising council tax bills has gained Royal Assent.

The Age-Related Payments Act puts into effect a pledge made by Chancellor Gordon Brown in his last Budget.

Reports of 'chuggers' going bust

Three companies which organise face-to-face street fundraising have gone out of business, it has been reported.

They are said to owe around 800,000 to charities including Scope, Barnardos and the Children's Society.

Producer: Chris A'Court
Presenter: Paul Lewis
Web Producer: Nathalie Knowles

Money Box



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