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Nominate your Scrooge of the Year 2009

The festive season is steeped in tradition, and one that we at Times Money intend to keep is our annual Scrooge of the Year Competition.

This give readers the chance to get their own back on the companies that have treated them with contempt over the past 12 months. Whether you are sick of being put on hold by a bank's call centre, tired of sky-high energy bills or fed up with the appalling returns on your savings, this is an opportunity to have your say.

Times Money will name and shame the worst offenders in print and online - but first we need your nominations. Enter your suggestions in the comments field below.

e-Poll: Is the Government right to tax bankers’ bonuses?

Lights on, nobody home: Do bankers understand public fury?

Speculation abounds that the Government is planning some form of tax raid on bankers’ bonuses in the Pre-Budget report on Wednesday. Supporters of such a tax argue that the huge profits the banks made over the past year only came about because taxpayers rescued the industry and created financial stability. Others believe the Government should tax bonuses because they encourage reckless behaviour and reward an industry that started the financial crisis in the first place.

However, critics of the tax argue that it will undermine the City as a global financial centre and could drive business and financiers overseas. Furthermore, any tax could make it harder for the Government ever to sell back its stakes in banks such as RBS and Lloyds Group. We want to know where you stand in this debate. Vote in our e-poll below and leave your comments in the field below that.

Online Surveys & Market Research

Win £25: My clothes disappeared at the launderette, what can I do?

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Ben Cousins wrote to us. He says: "I took three bags of clothes for a service wash at my local launderette, after my washing machine broke. I paid £22 and I picked them up two hours later. It wasn't until I got home that I realised a substantial number of items were missing, to the value of about £150. The launderette said they would probably turn up. Three weeks later they haven't. The launderette manager refuses to do anything about it, pointing at a sign on the wall, which says: "We are not responsible for any items given to us in a service wash." As I have no proof of the items I handed over, I have no idea what to do. Help!"

The five best and five worst regions for new-build house prices

New-build flats have become notorious in recent years for their sharp fall in value after the housing bubble burst. Developers were forced to slash prices by up to 70 per cent but many remained empty for months because of a chronic oversupply in some towns and cities.

However, in recent weeks there is evidence that buyers, particularly cash-rich investors, are slowing returning to the market, picking up bargains and reducing the amount of excess stock available. In some areas there is expected to be a shortage of new homes in the coming years, adding to a growing confidence about values. Smartnewhomes.co.uk, the property website, has surveyed the market for new-build houses and flats around the UK. Here are the best and worst performing regions based on price rises over the last month.

e-Poll: Higher taxes or lower spending?

Next week, Alistair Darling, the Chancellor of the Exchequer, will stand in the House of Commons to deliver the Pre-Budget Report. With the public finances in an almighty mess, and a general election just months away, this could be a defining moment for the Labour Government. In advance of the big day, we would like to know how you would like Mr Darling to play his hand. Would you prefer the Chancellor to focus on cuts in public services or tax rises to help fill the deficit? Vote in our e-Poll below and have your say in the field below that.

Online Surveys & Market Research

The 10 most expensive public schools

Henley Regatta - a Mecca for public school oarsmen

With Old Etonian David Cameron looking poised to collect the keys to numbers 10 Downing Street after the next election, the spotlight is once again on the country’s most famous - and most expensive - public schools.

It may surprise readers to learn that Eton is not, in fact, the most expensive school as judged by annual boarding fees. That distinction goes to the Purcell School, a specialist music school, where the annual fees are £29,577 as reported in Whitaker’s Almanac. In second place comes Tonbridge School in Kent, where a year's  boarding fees will cost £28,140 with Eton coming in a close third at £28,080.
Here is the full list of the top ten most expensive schools in the UK.

The top ten inflation beating savings accounts

With the Consumer Price Index rising to 1.5 per cent in October, savers are being urged to check their account is actually paying them a return.

According to Moneynet.co.uk, the financial website, a basic rate taxpayer will now need to secure an interest rate of at least 1.875 per cent gross to maintain the spending power of their savings pot.

Andrew Hagger, of Moneynet says: "Over 78 per cent of variable rate accounts are paying interest of 1.875 per cent or less.

"With inflation rising sharply, savers need to ensure they’re not losing out – anything less than this interest for a basic rate taxpayer and the value of their cash is being eroded."

Higher rate taxpayers need a gross rate of at least 2.50 per cent to ensure their savings are paying them a return.

Here Moneynet recommends ten savings accounts to beat rising inflation.

Battle with the banks - we want to hear your stories

The surprise decision by the Supreme Court today to side with the banks in the test case over whether the Office of Fair Trading has the jurisdiction to decide on the fairness of overdraft charges has left consumers reeling. The decision means that millions of bank customers hoping for refunds of these charges now have no hope of retrieving their money.

We want to know what you think about the decision and we want to hear your stories. Have you been battling with your bank to obtain a refund? How did your incur the charges in the first place? The worst story that Money Central has ever heard was of one student who was charged £800 for going 8p overdrawn. Can anyone top that? Leave your comments below.

Also we want to know whether you think the banks should have been forced to cut charges. Click here to vote in our e-Poll.

The 10 most generous charity Christmas cards

Shoppers who want to ensure the money they spend on Christmas cards this year is definitely going to charity should be careful.

A Which? survey of retailers found that on average only 13 per cent of proceeds from charity Christmas cards sold on the high street go to a good cause.

The shops listed below donated higher than average amounts from their charity Christmas cards, though not all of the shops in the top ten contribute the same for all of the cards they sell. Shoppers should, therefore, look at the back of the cards they are buying, where it will highlight how much will help their chosen charity will receive from their purchase.

e-Poll: Should banks be forced to cut their overdraft charges?

 

On Wednesday, the Supreme Court will decide, once and for all, whether the Office of Fair Trading (OFT) has the right to examine the lawfulness of overdraft charges. If the decision goes against the banks, the watchdog is expected to decide to cap these fees at about £12 a time as it has already in the case of credit card charges.

Such a move would be welcomed by the millions of people who suffer these charges of up to £39 a time. However, customers who never go into the red may feel aggrieved that might have to start paying for banking services if the industry moves to recoup the lost profits. We want to know what you think? Vote in our e-poll below and have your say in field below that.

Online Surveys & Market Research

Five experts make their house price predictions for 2010

Asking prices are falling again, Rightmove, the property website, has warned. It says that panic among vendors to meet a self-imposed Christmas deadline for selling up is driving down prices. 

The news is welcome for the thousands of buyers pushing to meet a much more rigid end of year deadline to buy a property under £175,000 to avoid stamp duty. On Jan 1, 2010 the stamp duty threshold will be lowered back to £125,000.

Seasonal activity and the stamp duty changes may be driving sales, but the housing market remains historically weak, with a number of serious obstacles ahead which could potentially block a full recovery and a further rise in prices.

Here Times Money has asked five experts for their house price predictions for the coming year.

Win £25: Should I be refunded for my faulty television?

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Dave Moran wrote to us: "I purchased a TV from Misco.co.uk for £380 just over two years ago with a two year warrantee. Before the warrantee expired the TV developed a fault and I returned it to the repair centre. They were unable to fix it but they offered me a replacement which I wasn't prepared to accept.

"I then contacted Misco who has agreed to take the replacement set and credit me with £190 - that is 50 per cent of the original value. I don't think this is acceptable, as the manufacturer's terms and conditions state that they will repair, replace or credit a faulty TV. Am I being unreasonable?"

e-Poll: which is the most over-valued asset class?

Speculation has been mounting in recent weeks that the Bank of England’s policy of Quantitative Easing (effectively printing money) has been artificially boosting asset prices. The recovery in the stock market since April; the record price of gold; the gravity defying housing market and growing cost of oil; all anecdotally support this theory.

Others argue that asset prices have simply risen to more reasonable levels since financial Armageddon was averted. We want to know what you think. Which asset class do you think is most over valued? Vote in our e-Poll below and have your say in the field below that.

 

Online Surveys & Market Research

The 10 richest Tories in the shadow cabinet

There has been mounting speculation in recent months about the personal wealth of the leading figures in the Conservative Party. Interest has heightened after the Tories announced that they would implement an austerity budget, slashing public services, if elected to Government. Research carried out last year by the News of the World recorded 19 millionaires in the Shadow Cabinet, giving some indication of the level of wealth at the top of the Conservative Party. Here Times Money has updated the list. The figures for personal wealth are estimates calculated by the NOTW team in 2008.

Times Money's top 10 Christmas shopping discounts

Two-thirds of us haven't saved enough for the cost of Christmas and almost half of us are worried about paying for it, according to a survey by Moneysupermarket.com. With just 44 shopping days left until the big day, Times Money has scoured the internet for the best discounts to help you save on your Christmas shopping.

Win £25: What can I do with my 'extinct' shares?

Each Saturday, as part of Times Money's expanded consumer affairs section, we publish your questions and invite other readers to suggest solutions. 

This week Hady Laba wrote to us: “I recently opened a stock dealing account with HSBC and have done fairly well. However, in June the shares I held in Regents Inns became 'extinct.' I asked HSBC what that meant and never really got a clear explanation – apart from that I can claim the loss on my tax return. Last week the same thing happened again with Bateman Litwin shares that I held and are now extinct. 

"Should I not have been informed by either the two companies, or HSBC, that the shares were about to become worthless? What can I do with these extinct shares now?"

e-Poll: Should the Government raise student tuition fees?

 Students could end up paying more than double the present fees for university courses after the Government launched a review of the funding of higher education. Some vice-chancellors are pressing for fees to rise to £7,000 a year, from the current £3,225. In Scotland, students are not charged any tuition fees. The review, which is being chaired by Lord Browne of Madingley, the former chief executive of BP, is expected to last a year.

Tuition fees are an emotive subject with some people arguing that they deters students from poorer backgrounds while others argue that it is unfair that taxpayers subsidise the education of the next generation of high earners. We want to know what you think? Vote in our e-Poll below and leave your comments in the field below that.

Online Surveys & Market Research

The 10 best value Christmas markets

 

Christmas shopping can be a real chore. Tramping down the high street on a grey Saturday afternoon and being forced to listen to endless renditions of Jingle Bells is many peoples idea of hell. Rather than enhancing the experience, even the twinkly lights only serve to remind you that you would rather be anywhere else. Bah Humbug!

But combining your Christmas shopping with a short-term break in a beautiful European city may be all you need to restore your festive cheer. Who knows, you might even get to see some real snow rather than the fake stuff that clogs our high streets.

The downside: it can be pricey. However, help is at hand. Virgin Money Travel Insurance has compared the cost of a two-night stay in a four star hotel close to the major markets. It has added in the price of entry to a local attraction, for example, Krakow's Princes Czartoryski Museum, which boasts Leonardo da Vinci's Lady with an Ermine.

Here are the ten that it claims are the cheapest for a short-term break. The cost does not include the price of flights, although many of these cities are serviced by budget airlines.

The 10 worst credit cards, and the 10 best - as voted by customers

 
 

High-street retailers, such as John Lewis, offer much better credit cards than traditional lenders, the latest customer satisfaction survey by consumer organisation Which? has found.

In a survey, 10,207 Which? members rated their credit card providers based on their levels of satisfaction with the ease of making an application, interest rates and discounts on offer, the accuracy of statements they received, how well they are kept informed about better deals and the standard of customer service.

Satisfaction scores were calculated using a combination of overall satisfaction and how likely Which? members are to recommend the card to a friend.

The John Lewis /Waitrose credit card came out on top with a score of 88 per cent, compared to the average score of 68 per cent. Mint was the worst provider, scoring just 46 per cent.

Here are the ten credit card providers that scored the worst, and ten that Which? members rated as above average.

ePoll: Can money buy you happiness?

 

As a society, we seem to spend much of our time obsessing about and trying to accumulate money but we rarely stop to ask ourselves why. Perhaps we should. According to a new study, the richer we get, the quicker money begins to diminish as a source of happiness. The study by the Legatum Institute suggests that an increase from $30,000 to $33,000 in per capita income only leads to a 0.06 point increase in a nation's happiness (using a 1-10 scale).

But can this possibly be true? Doesn’t earning more money make us happier by allowing us to buy more things, go more places, and, in some cases, influence more people? We want to know what you think. Vote in our e-Poll below and leave your comments in the field below that.

Online Surveys & Market Research

Michael Jackson's 10 most extravagant purchases

On his death in June, it was reported that Michael Jackson was in $400 million of debt. Now, it looks as if the debt will be easily cleared.  By some estimates his estate will make more than £100m this year alone, thanks to a surge in the number of fans buying records and memorabilia, and the release of This Is It, the film about the final days of his life.

But how did Jacko manage to lose so much money in the first place? Times Money reflects on some of his more excessive spending...