Cost of Living Crisis, Experts explain simple hacks that will save those crucial pounds

THE cost of living has hit a 30 year high with inflation soaring to 6.2%, so it is vital to understand how to better manage our money. Many people pay large lump sums of money towards utilities and services; however, insurance expert Catherine Grayson from A Plan Insurance looked at ways to manage your money more effectively. She reveals some top tips and tricks for switching to monthly payments and spreading the cost to help make your cash flow a little bit easier.

► TV Licence... A TV licence currently costs ₤159 per household and will remain this price until 2024, with a slight rise before being abolished completely. Unfortunately, we cannot reduce the fee for this, but it may be easier to pay this using a direct debit over 12 months. This will automatically renew and therefore this stops any risk of breaking the law. Since August 2020, everyone is legally obliged to pay for a TV licence even those above 75 or those who are blind or visually impaired (at a reduced rate of ₤79.50). However, if you are unable to work due to this disability, it is a lot of money to pay for something. Therefore, spreading the cost over time will be beneficial. If you choose to pay this through direct debit, for the 1st 6 months you may have to pay ₤26.50 before it rolls onto a 12 monthly bill of ₤13.25 a month.

► Council Tax payments... The Government announced that for those in Council tax bands A to D, they will receive a ₤150 rebate to help with the cost of living. Around 20 million households in England will receive this in April 2022. Unfortunately, not everyone is eligible to receive this help and therefore spreading the cost of Council tax should make these price increases slightly less troublesome. Currently, many people pay their Council tax manually or over 10 months as this structure may suit the Council. However, you are perfectly entitled to spread this over 12 months as this will avoid 10 high payments and then 2 months with no cost. In order to set up the direct debit, you need to call the local Council Tax Office or there is an option online on some Councils' websites for those who are tech-savvy.

► Insurance premiums... It may be helpful to know that you no longer need to pay your insurance premiums in 1 lump sum. It can really help to keep on top of your finances to spread this cost out to monthly payments and to avoid strain on any other areas of your budget. Interestingly it can also improve your credit score to spread the payments.

► Car Tax... It is still highly common for people to head to the Post Office to pay their car tax in 1 lump sum. Why not switch this to a regular direct debit instead? In order to pay your road tax monthly, you can continue to pop to the local Post Office to set this up, or you can simply go to the Government's official website to complete this online within minutes. This will log your MOT and insurance which leaves you only needing a reminder letter that contains a 16 digit reference number. It is a completely simple process, and the payments will then roll over to ensure no breach of the law occurs.

► Utility bills... It is estimated that, commencing in April, there will be a ₤35 per year price hike for water. This is teamed with the ever increasing fuel prices that are hitting us all hard. After this price kicks in, spreading the payments can help and you can do this by contacting your provider. You may not be aware but, depending on circumstances, most have schemes that cap the bill at under ₤100.

Extra protections for seafarers as Government introduces new maritime laws

THE UK Government, on Wednesday, 30 March 2022, announced a suite of new measures to protect seafarers, following P&O Ferries' decision to summarily sack 800 workers earlier this month. The Transport Secretary confirmed he will bring forward new legislation to ban ferries which don't pay their workers the National Minimum Wage from docking at British ports. It means all ferry staff working in and out of British ports and when in UK waters, will earn the National Minimum Wage (NMW), closing a legal loophole between UK and International Maritime Law that P&O Ferries ruthlessly exploited.  To ensure seafarers are protected straight away, the Transport Secretary has instructed ports to refuse entry to ferries not paying workers the NMW; from 30 March 2022; immediately replicating the effect the new laws will have when introduced in the coming weeks. Also, HMRC will continue to target their enforcement activity, investigating any ferry operators that they suspect do not pay their workers minimum wage.  As a leading maritime institution, the Government has called on the International Maritime Organisation (IMO) to hold an international summit to discuss workers' rights at sea and to revise the status quo on seafarers' basic pay rates around the world.  The Transport Secretary has also written to:- France, the Netherlands, Ireland and Denmark, to propose bilateral agreements which would ensure routes between the countries become:- 'Minimum Wage Corridors' where nationals from either country must be paid an agreed minimum wage. This means that when travelling on the Short Strait, seafarers are always paid an agreed minimum wage.

Transport Secretary Grant Shapps said:- "We can boast some of the highest maritime standards in the world, but for too long some employers have managed to avoid showing workers the most basic respect. Ensuring a fair wage for our seafarers means UK workers are not undercut by employers, and it reiterates the UK flag as 1 of the most respected in the world. P&O's behaviour has appalled the nation and I want to make it absolutely clear we will not tolerate their actions or allow anyone else to follow suit, and this package of measures will act as a strong deterrent."

Following the conduct of Peter Hebblethwaite, the Transport Secretary has asked the CEO of the Insolvency Service to consider whether the P&O Chief Executive should be disqualified as a Director. It comes as the Business Minister Paul Scully announced plans for a new statutory code on the practice of:- 'fire and rehire' to clamp down on controversial tactics used by employers.

Business Secretary Kwasi Kwarteng said:- "P&O's use of aggressive employment tactics has been completely unacceptable, and we are clamping down on employers who flagrantly fall foul in protecting the rights of their workers. By ensuring ferry staff working in and out of British ports and in UK waters are paid the National Minimum Wage, this new package will protect UK workers from being ruthlessly exploited by employers, while making sure they receive a fair day's pay."

The updates mean more than 21,000 seafarers across the UK will no longer be undercut and puts the UK ahead of any EU state in its protection on pay.  British seafarers are recognised as some of the most highly skilled worldwide and the UK's Maritime 2050 strategy sets out a plan for a fairer global maritime industry. Ian Hampton, Executive Director, Stena Line added:- "Stena Line welcomes the package of changes proposed to address the present inequalities that exist for seafarers working on regular ferries services to and from the UK. We have a long held strategy of employing local seafarers onboard our vessels. Today's announcement protects that strategy and in addition creates the necessary consistency and equality needed across the sector."

Buoyed by the highest number of maritime training providers out of any country, the Government is launching a new recruitment website for seafarers and maritime employers to connect, supporting the recovery and development of the transport industry. This will specifically target P&O Ferries workers made redundant, as well as the sector at large. In response to Shapps P&O statement, Mick Lynch, who is the RMT General Secretary, told us:- "Despite all the bluster, Grant Shapps has failed to grasp the opportunity to adequately stand up to the banditry behaviour of P&O. The Prime Minister repeatedly said to parliament that the Government would be taking legal action save British seafarers' jobs but he has failed to keep his word. This continued lack of action and courage has meant a ferry company owned by the Dubai royal family has been able to break our laws and disrupt our ports and ruin people's lives with impunity and we will keep pressing the Government to ensure justice for our members. What has been announced today is far too little, far too late and we are calling for urgent action for speedier more radical reforms to save the UK seafarer from oblivion."