TESCO shoppers on a savings scheme have just hours left to get a cash bonus in time for Christmas.

The deadline to add money to your Tesco Clubcard Christmas Saver account and get another payment on top is 11.59pm today.

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Members will have to be quick if they want to top up their accounts and earn free money worth up to £12.

If you add £25 to your account, you will get a £1.50 bonus voucher while those adding £50 will get £3 back.

Anyone adding over £100 will get a £6 bonus voucher and to get the full £12 on top you have to add over £200 to your account.

Any vouchers built up throughout the year and bonus will be sent to you in November to spend ahead of Christmas.

Previously, you had to top up your Christmas Saver account in-store but you can’t do this anymore.

However, you can top up your account online via the Christmas Savers section on the Tesco website.

You can also top up your account on the Tesco app as long as you’re logged into your Clubcard account.

It comes after shoppers were left fearing Tesco had permanently axed the bonus payments on its Clubcard Christmas Saver scheme.

In April, the retailer stopped customers from being able to make any cash top ups.

Tesco said at the time the scheme wasn’t being stopped but that it had paused the feature temporarily.

Then in August, the retailer confirmed exclusively to The Sun that the top up bonus feature was back for good.

How does Tesco’s Christmas Savers scheme work?

Tesco looks after the vouchers you collect when shopping at the supermarket throughout the year and then sends them all in November.

In addition to collecting points, you can top up your Christmas Saver account with up to £360 in cash.

This is optional but can help you save even more and you’ll be rewarded with a bonus voucher worth up to £12.

The supermarket sends statements throughout the year to allow customers to keep track of their savings.

To sign up for the scheme, you need to create a Tesco account and access the Vouchers Scheme by visiting www.secure.tesco.com/clubcard/christmas-savers.

You’ll then need to scan your Clubcard at the checkout whenever you shop, and Tesco will hoard your vouchers until the yearly deadline.

In November, you will receive all your saved vouchers, including any bonus vouchers, in one go.

This lump sum can help cover the cost of Christmas shopping, making the holiday season more affordable.

However, it’s important to note that Clubcard and top-up vouchers are valid for two years, and bonus vouchers are valid for three months.

Other supermarket Christmas savings schemes

Asda customers can save money through the supermarket’s Christmas Savings Card.

You are rewarded with a cash bonus depending on your balance on the “Bonus Day” which is November 11 this year.

You have to top up your card by 5pm on November 10 and Asda will top it up the following day by 9am.

Shoppers get a bonus of £1 for saving between £30 and £79.99, £3 for £80-£129.99 and £6 for £130-£179.99.

Those who have stashed away £180 to £229.99 get £9, while you receive £12 for £230 to £279.99 and £15 for £280 or more.

Sainsbury’s has a Christmas Club Card that pays out a 5% cash bonus when you save throughout the year.

The minimum value you can load is £1 and the maximum £1,975.

However, to receive any bonus, you need to have a minimum of £50 in your account.

You can save from January to November 1 to get your bonus in time for Christmas.

The card can be used at Sainsbury’s and Argos, both in-store and online.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

A group of around 24 relatives of the Menendez brothers is advocating for their freedom. After spending decades behind bars for the murder of their parents, is there a possibility they could actually be set free? The case of the brothers, who were convicted for the 1989 killings of their parents in their Beverly Hills home, has gained renewed attention due to a Netflix series that dramatizes their story. Lyle Menendez, now 56, and his 53-year-old brother Erik are both serving life sentences without the possibility of parole for the shotgun murders of their father, Jose, and mother, Kitty Menendez. Following the release of the Netflix series titled Monsters and a new documentary, their family has come forward to advocate for their release.

Arguments for the Menendez Brothers’ Freedom

What arguments are being made for the brothers’ freedom? Is there any new evidence that could lead to their release?

Family Perspectives
At the time of their parents’ deaths, the Menendez brothers were just 21 and 18 years old. They confessed to shooting their parents but were convicted of first-degree murder and conspiracy in 1996. They argue that their actions were in self-defense, stemming from years of physical, emotional, and sexual abuse.

On October 17, a gathering of extended family members held a press conference in Los Angeles. Anamaria Baralt, the niece of Jose Menendez, spoke on behalf of the family, expressing, “Both sides of the family are united, sharing a new bond of hope.” She emphasized that the brothers were victims of a “culture that was not ready to listen,” urging the district attorney’s office to consider the complete context of their situation.

Joan Andersen VanderMolen, Kitty Menendez’s sister, also shared her thoughts, stating, “I had no idea how severe the abuse they endured was at the hands of my brother-in-law. None of us were aware.” She acknowledged that “abuse can have long-lasting effects,” recognizing that those who experience trauma may react in ways that are hard to comprehend.

Family Division

However, the family is not completely united. Kitty Menendez’s brother, Milton Andersen, 90, has expressed that he believes the appropriate punishment for the Menendez brothers is life in prison without the possibility of parole. His attorney stated that he is convinced no molestation took place, arguing that the motive behind the murders was sheer greed, as the brothers had just discovered they were being removed from their parents’ will.

New Evidence and Evolving Perspectives

The Menendez brothers have consistently claimed that they were victims of abuse at the hands of their parents since their initial murder charges were filed. At that time, prosecutors argued there was no proof of any molestation, asserting that the brothers were primarily interested in their parents’ substantial estate.

During their first trial in 1993, the jury was unable to reach a unanimous decision, but in the second trial, they were found guilty, opting for life without parole instead of a death sentence. Their legal team contends that, given the evolving societal perspectives on sexual abuse, the brothers might not have faced first-degree murder charges and a life sentence if tried today. They argue that manslaughter charges should have been considered, but this option was not available to the jury in the second trial.

Additionally, the defense claims to have discovered a letter written by Erik Menendez to his cousin, dated months before the murders, in which he described alleged abuse from his father and expressed fear of him. LA district attorney George Gascon briefly posted the letter on his Instagram before removing it. In the handwritten note, Erik mentioned, “I’ve been trying to avoid dad… every night, I stay up thinking he might come in.” He also expressed feelings of fear and the need to “put it out of my mind” and “stop thinking about it.”

Roy Rossello, a former member of the band Menudo, also came forward in the Peacock documentary series Menendez + Menudo: Boys Betrayed, claiming he was also a victim of rape by Jose Menendez.

Potential for Release

Is there a genuine possibility for the brothers to be released? Absolutely, as prosecutors in Los Angeles are currently reassessing the brothers’ convictions, with a court hearing set for November 26. The brothers’ legal team has requested that the court consider their rehabilitation based on their conduct while incarcerated. If the court finds in their favor regarding rehabilitation, the brothers might be released or have their sentences reduced.

Additionally, the lawyers have presented a letter Erik wrote to his cousin as new evidence, which was not available to the jury during the brothers’ sentencing in 1996 and could have impacted their verdict. Should the court rule in their favor on this matter but not on rehabilitation, it may result in a retrial.

During a press conference, Mr. Gascon emphasized that the review is not about determining the brothers’ guilt in their parents’ deaths, stating that it is “factual” and “well established” that they were responsible. He also mentioned that over 300 individuals have been resentenced during his tenure as district attorney, with only four reoffending.

Family’s Reaction

How have the brothers responded to the review? Tammi Menendez, Erik’s wife, shared her thoughts on social media, expressing gratitude for the support following the District Attorney’s announcement. She wrote on X: “We truly appreciate the encouragement we’ve received and remain hopeful that this November will bring the resolution we’ve all been longing for. Your continued prayers as we await their official response would mean a lot to us.” After the family’s press conference, she added, “Erik feels incredibly thankful and deeply moved by the immense love and support from his family today. Their faith in him, along with their encouragement, care, and understanding, means more to him than words can convey.”

Understanding Executive Clemency

Executive clemency refers to the authority held by a President in federal criminal matters and by a Governor in state cases to grant pardons to individuals convicted of crimes. This power allows them to forgive the offense, reduce a sentence (often to time already served), or change a death sentence to a lesser penalty.

There are various motivations for utilizing this authority, such as genuine doubts regarding the individual’s guilt, concerns about an excessively harsh sentence, humanitarian considerations like the health of an elderly inmate, the desire to acknowledge someone who has shown rehabilitation, or even personal connections with the Governor.

During his presidency from January 20, 2017, to January 20, 2021, Donald Trump used his clemency authority to grant executive clemency to 237 people who were either charged with or convicted of federal crimes, as outlined in Article II, Section 2 of the Constitution. Typically, requests for clemency related to federal offenses are submitted to the Office of the Pardon Attorney (OPA) within the U.S. Department of Justice for evaluation. However, Trump often chose to bypass the OPA, and many of his clemency decisions favored well-connected individuals.

High-Profile Clemency Decisions

Donald Trump attracted significant attention due to the high-profile nature of his clemency recipients. Here are five notable individuals to whom Trump granted clemency:

1. Roger Stone (July 2020) – A longtime political adviser and confidant of Trump, Stone was convicted of multiple charges, including witness tampering and lying to Congress during the investigation into Russian interference in the 2016 election. Trump commuted his sentence just days before Stone was set to go to prison.
2. Paul Manafort (December 2020) – Trump’s former campaign chairman, Manafort was convicted on charges related to financial fraud stemming from special counsel Robert Mueller’s investigation into Russian election interference. Trump pardoned him in the final weeks of his presidency.
3. Michael Flynn (November 2020) – Trump’s first national security adviser, Flynn pleaded guilty to lying to the FBI about his contacts with the Russian ambassador. Trump pardoned Flynn after a prolonged legal battle.
4. Lil Wayne (Dwayne Michael Carter Jr.) (January 2021) – The rapper was facing a potential 10-year sentence after pleading guilty to a gun charge. Trump granted him a full pardon in the final hours of his presidency.
5. Kodak Black (Bill Kahan Kapri) (January 2021) – Another rapper, Kodak Black, was serving time for weapons charges. Trump commuted his sentence as part of a series of last-minute clemency decisions before leaving office.

The Future of the Menendez Brothers’ Case

There’s no clear indication that Donald Trump would grant clemency or a retrial for the Menendez brothers if re-elected. While there has been renewed interest in the Menendez case, especially with documentaries and advocacy for their release, there’s no known personal connection between Trump and the brothers, nor has he publicly commented on their case.

Trump has used clemency in a high-profile manner, but whether he would consider the Menendez brothers would likely depend on public pressure, media attention, or legal arguments presented during his term. However, as of now, there is no specific reason to believe that they would be on his clemency radar.

The case of Lyle and Erik Menendez, who were convicted of murdering their parents, José and Kitty Menendez, has sparked renewed interest and debate as advocates push for a retrial. Their case has been under scrutiny, with numerous arguments presented in favor of revisiting their convictions, particularly focusing on the allegations of abuse they endured. Here, we explore the key arguments supporting a retrial, alongside the challenges that may impede this legal pursuit.

Challenges to a Retrial

Key Arguments for a Retrial in the Menendez Brothers Case

The case of Lyle and Erik Menendez, who were convicted of murdering their parents, José and Kitty Menendez, has sparked renewed interest and debate as advocates push for a retrial. Their case has been under scrutiny, with numerous arguments presented in favor of revisiting their convictions, particularly focusing on the allegations of abuse they endured. Here, we explore the key arguments supporting a retrial, alongside the challenges that may impede this legal pursuit.

Allegations of Abuse

The Menendez brothers have consistently maintained that their decision to kill their parents stemmed from a long history of severe physical and sexual abuse inflicted by their father, combined with emotional abuse from their mother. They assert that these traumatic experiences shaped their actions, leading to a desperate need for self-preservation.

During their original trial in the 1990s, the defense team attempted to introduce evidence of the alleged abuse, but it was largely dismissed by the court. This has left many advocates questioning whether the jury was fully informed about the context of the brothers’ claims. The narrative presented during the trial painted the brothers as motivated by greed rather than as victims of a traumatic upbringing, ultimately leading to their life sentences without the possibility of parole.

Advocates for a retrial argue that the abuse claims were not adequately addressed during the original proceedings. They believe that had the jury been privy to the full extent of the brothers’ traumatic experiences, it might have influenced their understanding of the events that transpired on that fateful night in 1989.

Evolving Understanding of Abuse

Legal experts and advocates contend that societal perceptions of familial abuse have shifted dramatically since the 1990s. In recent years, there has been a growing awareness and acknowledgment of the complexities surrounding psychological trauma, particularly within the context of family dynamics. This evolving understanding has fueled the push for a retrial, as it may offer a more nuanced perspective on the brothers’ actions.

The legal landscape surrounding domestic abuse has also transformed, with an increased emphasis on the psychological implications of such trauma. Supporters argue that the courts must recognize the lasting impact of childhood abuse on adult behavior, and that a retrial could provide an opportunity to address these issues more comprehensively than was possible in the original trial.

New Evidence

In 2023, the NBC documentary Menendez + Menudo: Boys Betrayed reignited discussions around the Menendez case by presenting new testimony from Roy Rosselló, a former member of the band Menudo. Rosselló claimed that he was sexually abused by José Menendez as a teenager. This shocking revelation has prompted calls for further investigation and has provided a new avenue for examining the brothers’ claims of abuse.

The testimony of Rosselló is seen by many advocates as potentially corroborative evidence that could support Lyle and Erik Menendez’s assertions of being victims themselves. If the allegations against José Menendez are substantiated, it may lend credence to the brothers’ narratives and strengthen the argument for a retrial, as it would underscore a pattern of abusive behavior that extended beyond the Menendez household.

Challenges to a Retrial

While the arguments for a retrial are compelling, significant legal barriers exist that make it difficult to achieve. U.S. law generally upholds the principle of finality in criminal convictions, meaning that it is exceedingly rare for a case to be reopened once all appeals have been exhausted. The Menendez brothers have pursued multiple appeals over the years, all of which have been denied, complicating their quest for justice.

The courts often prioritize the finality of verdicts, resisting the reopening of cases unless compelling new evidence emerges that directly impacts the fairness of the original trial. Although new testimony regarding José Menendez has come to light, it remains uncertain whether it meets the legal standard necessary to warrant a retrial.

In conclusion, while the case for a retrial of the Menendez brothers is bolstered by allegations of abuse, evolving societal understanding, and new evidence, the path forward is fraught with legal challenges. The principles of finality and the difficulty of introducing new evidence into a closed case present formidable obstacles. As discussions continue and new developments unfold, the future of the Menendez brothers’ quest for justice remains uncertain, leaving many to wonder if they will ever have the opportunity to present their case anew.

Revisiting the Menendez Brothers Case: A Quest for Justice and Understanding

The case of the Menendez brothers, Lyle and Erik, has long captivated public attention and raised profound questions about justice, trauma, and the complexities of familial relationships. Convicted in 1996 for the shotgun murders of their parents, José and Kitty Menendez, the brothers have spent decades behind bars. Recently, advocates have renewed calls for a retrial, emphasizing allegations of long-term abuse, evolving societal understandings of trauma, and newly surfaced evidence.

At the core of their argument is the assertion that the brothers killed their parents in response to years of severe physical and sexual abuse from their father and emotional abuse from their mother. Advocates argue that these claims were inadequately addressed during the original trial. Legal experts suggest that the societal context surrounding familial abuse has changed significantly since the 1990s, prompting a push for the judicial system to adapt to these evolving understandings.

New evidence further complicates the narrative. In 2023, NBC released a documentary featuring testimony from Roy Rosselló, a former member of the band Menudo, who claimed that José Menendez sexually abused him as a teenager. This development has intensified calls for a comprehensive investigation, with many believing it could bolster the brothers’ claims of being victims themselves.

However, the path to a retrial is fraught with significant legal barriers. U.S. law makes it extremely difficult to secure a retrial after a conviction, especially after multiple appeals have been denied. Courts often prioritize the finality of convictions unless there is compelling new evidence that directly impacts the fairness of the original trial. While emerging testimonies about José Menendez’s alleged abuses add weight to the argument for reconsideration, it remains uncertain if these developments will be sufficient to warrant a retrial.

As discussions surrounding the case gain momentum and public interest swells, the fate of Lyle and Erik Menendez hangs in the balance. Their quest for justice transcends personal vindication; it embodies a broader movement advocating for the recognition of abuse and its far-reaching effects on victims.

Whether they will ultimately receive a retrial remains uncertain. However, their story underscores the critical importance of listening to victims and reconsidering past judgments in light of new evidence and evolving understandings of trauma. As society continues to grapple with these issues, the Menendez brothers’ case serves as a poignant reminder of the complexities inherent in the pursuit of justice within the familial sphere.

Related: The Menendez Brothers’ Money

High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.

The high street has seen a whole raft of closures over the past year, and more are coming.

The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.

Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.

It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.

The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.

Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.

“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.

“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”

Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.

The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.

However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.

The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.

HUGE changes to Buy Now, Pay Later rules that will protect shoppers are set to kick in within months under major new plans by the government, The Sun can reveal.

The new Labour government has confirmed that it intends to legislate to bring the Buy Now, Pay Later (BNPL) sector under the City watchdog’s rule by early 2025

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This would mean the regulation would kick in in early 2026, The FCA said.

Proposals to regulate BNPL products were first touted in 2021, but have been repeatedly delayed.

We revealed earlier this year that the previous government had shelved the plans over fears that it would drive BNPL firms out of the market during a cost of living crisis.

But the lack of regulation around BNPL is bad news for shoppers as it means these firms don’t have to follow the same rules as major credit lenders and customers aren’t protected if things go wrong.

However, in an exclusive interview, economic secretary to the Treasury Tulip Siddiq told The Sun that the government has now finalised its “bespoke” plans and intends to pass the legislation “as soon as possible” in early 2025.

The plans will bring the products under FCA regulation while ensuring they also adhere to a large proportion of the Consumer Credit Act and Section 75, which give shoppers various rights.

The Treasury will run a short six-week consultation ending November 29 to iron out any final changes with stakeholders.

This would enable them to pass the legislation early in the New Year.

The City watchdog, the Financial Conduct Authority (FCA), will then have to run its own short consultation.

“The whole government is really behind this policy – the chancellor is really keen on it – because we don’t want a situation where people are trying to manage their debt and end up making it worse, which is what’s happening now,” Ms Siddiq said.

“But, we don’t want to get rid of BNPL, as there is a need in the market for it.”

What will the new rules mean for shoppers?

If a product or firm is regulated, it means that customers are covered by certain protections if they are treated unfairly or something goes wrong with their product or service.

We understand the current plans will mean the following:

Firms will have to operate in consumers’ best interests – or face FCA enforcement action

This means firms will have to be clear and transparent about any late fees, interest, or if they could affect customers’ credit ratings and how.

They should also signpost customers towards debt help in any correspondence.

“Firms will be under the supervision of the FCA who can bring enforcement action [against them] if we feel they are not treating consumers right or don’t have the consumers’ best interests at heart,” Ms Siddiq told The Sun.

Firms will have to carry out strict affordability checks

Ms Siddiq added that affordability checks will be the “number one” thing the FCA will be supervising.

Banks, for example, must review customers’ credit histories and financial situations to ensure they aren’t lending more money than they can afford.

But BNPL providers aren’t currently required to carry out such stringent checks, although some firms, like Klarna, have introduced them voluntarily.

Shoppers will be able to complain to the Financial Ombudsman Service (FOS) if they feel they’ve been treated unfairly

Consumers who deal with regulated financial firms are protected by the FOS, which settles disputes between companies and customers, if things go wrong.

But BNPL users can’t take complaints to the FOS if they have an issue.

“This supervision means there are certain rights consumers will have in terms of referring a complaint to the Financial Ombudsman Service (FOS), which you can’t do at the moment,” Ms Siddiq explained.

Firms will largely have to adhere to the Consumer Credit Act

Consumer credit in the UK is regulated by the Consumer Credit Act, which means these firms have to adhere to certain rules.

For example, firms are required to provide certain information documents and must advertise their products in a certain way.

Ms Siddiq said BNPL firms will largely have to follow these rules.

However, it is understood the Treasury has created bespoke plans to remove certain requirements around interest rates, as this doesn’t apply to BNPL firms.

It has also removed certain requirements around sending paper forms as BNPL is largely online-based.

Number of people relying on BNPL is growing

Image: Economic secretary to the Treasury Tulip Siddiq speaks to Citizens Advice workers about BNPL

By Laura Purkess, consumer features editor and consumer champion

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I was invited to join City minister Tulip Siddiq in speaking to Citizens Advice staff at a branch in Southwark, London, about Buy Now Pay Later and I was blown away by how passionately the workers wanted to get this regulation over the line.

These workers hear day in, day out from people who have spiralled into debt that has followed them around for months or years after getting accepted for a BNPL product “in seconds”.

And they said some of the worst actors are sending people threatening letters with no explanation of where they can get proper debt help.

Some people are coming into branches with a pile of letters they’re too scared to open.

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One staff member told me the number of people who rely on BNPL for basic living costs is clearly rising over time – but it’s those who are most vulnerable who are turning to it and ending up in an even worse situation.

“The majority of our clients are very vulnerable, English is not their first language, they’re not ‘offsite ‘au fait’ with this kind of thing, and they end up in a lot of trouble,” one worker told me.

“At the moment, if we hit a wall with a firm, we can’t direct them to anywhere else, we can’t point them to the FOS, that’s the end of the line.

“The sooner these regulations come in the better.”

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Shoppers will be able to return items for a full refund if they are faulty or were mis-sold

The new plans will also bring BNPL products under Section 75 – a type of protection for shoppers which means they can return faulty items within a certain timeframe.

Currently, as BNPL products don’t have this protection applied to them, shoppers may not be able to get a refund or replacement of broken or damaged items bought this way.

Dame Clare Moriarty, chief executive of Citizens Advice, said of the plans: “We’ve long called for regulating the BNPL market and are glad to see the government making this a priority. We know the difference this can make to so many people’s lives.

“The FCA must act swiftly to set rules that protect consumers from unaffordable borrowing once the necessary legislation is in place.”

Sheldon Mills, executive director for consumers and competition at the FCA, added: “We welcome the government’s consultation on the regulation of buy now pay later products.

“We’re already preparing and will consult on the rules firms will need to follow once the law is changed. We will ensure consumers are appropriately protected while enabling firms to innovate and grow.’   

What will it mean for people who rely on BNPL?

Like the previous government, Ms Siddiq is keen to ensure BNPL remains a viable payment method for people who need it.

Instead, the hope is that it will prevent people from taking on more than they can realistically afford to pay back.

“I’m not that concerned [about restricting access to BNPL] as I think what they will probably do is not borrow at such a high level,” Ms Siddiq told The Sun.

“If the firm carries out affordability checks and look at their credit ratings, they will say they can still get some form of credit, but they might also be able to come up with a repayment plan to pay it back.”

‘A real opportunity to provide protection’

Ms Siddiq has been working on BNPL regulation plans for several years and has regularly called for the rules to be implemented from the Opposition bench.

“I started looking into it a bit more and asking the government if they would do something, and they sort of paid lip service but didn’t do anything and they kept pushing it back,” she said.

So when the Labour Party won the general election in July, she decided to make it a top priority.

The plan was to confirm the plans within Labour’s first 100 days in government – a deadline they have just about missed.

Ms Siddiq was keen to get it right and has spent the past few weeks – and years – speaking with major players in the BNPL market to make sure the plans would work.

“I realised if we did win the election, this was a real opportunity to provide some protection for consumers and my own constituents,” she said.

“If you are using a BNPL product, you are probably struggling, you don’t use it on a whim, so for me it was about giving those people protection and rights.”

Sebastian Siemiatkowski, Co-founder and CEO of Klarna said: “Congratulations to Tulip Siddiq and the government on moving quickly! They have been working with the industry and consumer groups long before coming into office.

“We’re looking forward to carrying on that work to put proportionate rules in place that protect consumers while fostering growth.” 

Consumer champion Martin Lewis has since posted on X, formerly Twitter: “The last Chancellor promised to regulate, then the tumbleweed rolled as he went silent, so I am delighted the new Government has quickly restarted the process.

“Too many are in trouble with multiple BNPL repayments, leading to debt-chasing and credit file damage. 

“Regulation will mean firms must be overt that it’s a debt, have proper affordability rules, and will crucially let people go to the ombudsman if things go wrong.”

If you’re struggling with debt, there is plenty of free help available.

You can contact Citizens Advice’s advice line on 0800 144 8848 or speak to someone via chat on its website.

Charity Turn2Us, which helps people in financial need, can be contacted for free on 0808 802 2000 Monday to Friday between 9am and 5.30pm.

SAVERS looking for a top rate are being warned to act quickly after inflation fell by more than expected.

Savings rates have fallen since August when the Bank of England cut its base rate from 5.25% to 5%.

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The rate is a key benchmark used by high street banks to set the interest rates it offers customers on borrowing and savings.

Inflation this week fell to 1.7% , the latest official figure reveal, which could prompt the central bank to slash rates again.

Rachel Springall, finance expert at MoneyFactsDaily, said savers may wish to “act quickly”.

She explained: “Those looking for guaranteed return may wish to act quickly to grab a top rate as there are expectations for interest rates to come down over the next couple of months.”

“Savers need to prepare themselves for interest rate cuts, so if fixed-rate bond or fixed Cash ISA rates plummet, savers may wish to choose a longer-term deal to secure a competitive rate for the next few years.”

A fixed-rate on savings means you have an account that locks away your money for a set period of time in exchange for a guaranteed interest rate.

It’s also known as a fixed-term bond. You may be able to choose how long your savings are locked away for, or it may be an amount of time set by your lender. 

Locking in now could mean you secure e higher rate before they are cut.

These type of accounts are different to an easy-access account which lets you get hold of your cash immediately, but has a rate of interest that can change at any time.

Last month, and for the first time since January, the average interest rates for both fixed-term and easy access savings accounts declined across the board.

What’s on offer

There are only a few fixed deals currently on the market offering interest of 5%.

Two of the 5% deals are one-year fixes from the Union Bank of India.

The first offers 5% interest on a minimum deposit of £1,000 while the other offers the same on a minimum investment of £5,000. 

The third is from Conister Bank which also offers 5% interest on a minimum deposit of £5,000 over one year. 

There are a number of different savings accounts, but the fixed type often offers the most bang for your buck if you are looking to save money over a long period of time.

That is because if you fixed before a base rate cut your rate would stay the same.

Other examples include notice accounts which offer slightly lower rates in exchange for more flexibility when accessing your cash.

These accounts don’t lock your cash away for as long as a typical fixed bond account.

There are also regular savings accounts and easy-access accounts, which give you quick access to your money at a lower return.

Springall said: “Challenger banks and building societies continue to offer some of the top returns and have the same deposit protections in place as the more familiar high street banks, so there is little reason to overlook them in favour of a well-known brand.

“Whichever account savers decide to open, its essential they pick one that suits their needs, but if it’s an easy access account, make time to review the rate regularly.”

If you are looking to save and do not need access to your money for a few years then a two-year fix might be for you.

The best deal is from Market Harborough Building Society which offers 4.61 interest over a two year period.

However, you will have to invest a minimum of £10,000. Interest on this deal is paid yearly.

If you are looking to stow away your money for away for longer, a three-year fix could also be an option.

The more competitive option on the market for a three-year fix is by Principality Building Society.

It is offering 5% interest on a minimum of £500. With this type of account, the interest is paid on the anniversary of when you opened your account.

Four-year fixes operate just like all other fixed accounts, the only difference is you are kept away from your savings for longer.

Principality Building Society again has the best offer for four-year fixed deals.

The bank is offering 5% interest on a minimum investment of £500.

A cash ISA is a type of savings account that offers tax-free interest on your money.

This means you can earn interest on your savings in a bank or building society without paying tax.

You can save up to £20,000 each year tax-free in a cash ISA.

Virgin Money has the most competitive fixed one-year ISA.

The bank is offering 4.61% interest and the minimum amount you need to pay in a quid.

If you are looking for a two-year fixed ISA, State Bank of India is offering interest of 4.50% but the minimum you need to invest is £1,000.

If you are keen on something more long-term, UBL UK is offering customers 4.31% interest if they create a three-year fix ISA.

What is going on with interest rates?

Experts believe that September’s low rate of inflation could prompt the BoE to cut rates again.

This could single the end of attractive deals on fixed savings accounts, which have been slowly dwindling since the initial rate cut back in August.

Alice personal finance analyst at Bestinvest said that “locking in a top rate now” before the best deals disappear could be a “sensible strategy”.

Inflation, which measures how quickly the prices of things increase over time, fell below the Bank of England‘s 2% target for the first time in three years.

It’s important to note that when inflation drops it doesn’t mean that prices have stopped rising, it just means they are doing so at a slower pace.

The BoE can make changes to interest rates as a way to control inflation and keep it on target.

In recent years inflation has been far higher, creating the cost of living crisis, and the bank responded by hiking rates.

This has been bad news for borrowers especially homeowners with mortgages as interest rates on loans are far higher.

But it’s been good news for those with cash in the bank as rates on savings increased.

But as inflation falls that looks set to go into reverse with saving rates falling.

The BoE started raising its base rate in December 2021 from a historic low of 0.1% as the UK economy emerged from the coronavirus pandemic.

It reached 5.25% but the BoE cut that to 5% in August, marking the first cut since 2020.

How you can find the best savings rates

If you are trying to find the best savings rate there are websites you can use that can show you the best rates available.

Doing some research on websites such as MoneyFacts and price comparison sites including Compare the Market and Go Compare will quickly show you what’s out there.

These websites let you tailor your searches to an account type that suits you.

There are three types of savings accounts fixed, easy access, and regular savers.

A fixed-rate savings account offers some of the highest interest rates but comes at the cost of being unable to withdraw your cash within the agreed term.

This means that your money is locked in, so even if interest rates increase you are unable to move your money and switch to a better account.

Some providers give the option to withdraw but it comes with a hefty fee.

An easy-access account does what it says on the tin and usually allows unlimited cash withdrawals.

These accounts do tend to come with lower returns but are a good option if you want the freedom to move your money without being charged a penalty fee.

Lastly is a regular saver account, these accounts generate decent returns but only on the basis that you pay a set amount in each month.

AMIDST a crowd of demonstrators outside Downing Street yesterday stood Robert Trewhella, a 68-year-old taxi driver from Cornwall.

Like millions of other state pensioners, Robert faces the grim reality of losing the £300 winter fuel payment this year.

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The winter fuel payment was previously available to everyone over the state pension age (66).

However, cuts made by chancellor Rachel Reeves mean the payment is limited to retirees on pension credit or those receiving certain six other means-tested benefits.

It means that over 10million households will no longer qualify for the payment and a further 760,000 risk missing out if they don’t apply for pension credit before December 21.

In a powerful display of desperation, over a dozen state pensioners descended on Downing Street yesterday to protest these very cuts.

Robert was among several campaigners, backed by charities Independent Age, 38 Degrees, Silver Voices, and Organise, who delivered petitions with over half a million signatures calling for the policy to be reversed.

Robert lives alone in Penzance and receives a weekly state pension of £221, placing him just £2 above the threshold at which most people qualify for pension credit (£218.15 a week).

To make ends meet, he works a few hours each day for a small taxi company, earning approximately £300 a month. 

Despite his efforts, Robert remains in a precarious financial situation.

He faces monthly expenses of £675 for private rent, £124 for council tax, and an additional £40 to £50 for gas and electricity costs.

With just under £10,000 in savings, Robert is caught in a cruel cycle of financial instability, relying on his savings to supplement his income. 

He told The Sun: “I shouldn’t be working, I should be enjoying life at this point.

“But if I give it up, I will barely have enough to make ends meet, after all my savings won’t last forever.

“It’s cruel. I’m trapped in a cycle of deciding whether to work and live comfortably or suck it up and claim what little I can.”

Even if Robert were to retire, he would be eligible only for housing benefit and still not qualify for pension credit.

However, he would still not be eligible for pension credit and housing benefit claims on their own do not make you eligible for the winter fuel payment.

But, claims for housing benefit alone do not make one eligible for the Winter Fuel Payment.

When delivering the petition to Number 10 on Wednesday, Robert said: “Hopefully those in charge take notice and realise that too many older people will struggle this winter without this payment.

“It’s not right to take money away from vulnerable members of society.”

Joanna Elson CBE, chief executive of Independent Age added: “We hope the UK Government listens to the voices we’ve shared and protects the winter fuel payment for older people living on low incomes.

“It’s clear from the number of signatures that there is widespread concern about the plans.

“Tying the payment to pension credit will see far too many older people fall through the cracks.

“There are also many people in later life that just miss out on pension credit, sometimes by just a few pounds and pence.”

It comes after thousands of Sun readers flooded our Winter Fuel SOS helpline last Wednesday, looking for help to hang on to the payment.

The Sun has now launched a free tool to help you check whether you will get the winter fuel payment this year.

To be eligible for this year’s winter fuel payment, you must have an active claim for the benefits mentioned below during the “qualifying week,” which runs from 16 to 22 September.

These include Universal Credit, employment and support allowance (ESA), jobseeker’s allowance (JSA), income support, child tax credit and working tax credit and pension credit.

Most households automatically receive the winter fuel payment, including those on pension credit.

As new claims for pension credit can be backdated by up to three months, you can still apply now and qualify for this year’s winter fuel payment.

The absolute deadline to claim the benefit and qualify is December 21.

CHECK IF YOU QUALIFY

Pension credit tops up your weekly income to £218.15 if you are single or to £332.95 if you have a partner.

This is known as “guarantee credit”.

If your income is lower than this, you’re very likely to be eligible for the benefit.

However, if your income is slightly higher, you might still be eligible for pension credit if you have a disability, you care for someone, you have savings or you have housing costs.

You could get an extra £81.50 a week if you have a disability or claim any of the following:

• Attendance allowance
• The middle or highest rate from the care component of disability living allowance (DLA)
• The daily living component of personal independence payment (PIP)
• Armed forces independence payment
• The daily living component of adult disability payment (ADP) at the standard or enhanced rate.

You could get the “savings credit” part of pension credit if both of the following apply:

• You reached State Pension age before April 6, 2016
• You saved some money for retirement, for example, a personal or workplace pension

This part of pension credit is worth £17.01 for single people or £19.04 for couples.

Pension credit opens the door to other support, including housing benefits, cost of living payments, council tax reductions and the winter fuel payment.

Claims for pension credit also open doors to a number of freebies and discounts.

For example, pension credit claimants over 75 qualify for a free TV licence worth up to £169.50 a year.

Claims for the benefit also provide eligibility to £25 a week cold weather payments and the £150 warm home discount.

We have a guide on all the state pension freebies and discounts you can get.

How much is the winter fuel payment and how is it paid?

Payments last year were worth between £300 and £600, depending on your specific circumstances.

This is because the amount included a “Pensioner Cost of Living Payment” – between £150 and £300. 

This year, it will be worth £200 for eligible households or £300 for eligible households with someone aged over 80.

That means you could receive up to £300 in free cash depending on your circumstances.

Most payments are made automatically in November or December.

You’ll get a letter telling you:

• How much you’ll get
• Which bank account it will be paid into

If you do not get a letter or the money has not been paid into your account by January 29, 2025, you must contact the Winter Fuel Payment Centre on 0800 731 0160.