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News digest 5/2/16: Age UK energy deals examined by regulators

05 February 2016

Age UK energy deals examined by regulators - read more

Age UK energy deals examined by regulators

The charity Age UK has been accused by the Sun newspaper of promoting unfavourable gas and electricity deals in return for cash. The claim is to be examined by two regulators: the energy regulator Ofgem and the Charities Commission

The Sun has alleged energy deals offered by Age UK with supplier E.On are often more expensive than the cheapest offers from the firm, and in return they received about £6 million (about £41 for every person signed up). The allegations were rejected by Age UK.

 

'Extraordinary catalogue of failures' at Kids Company

MPs have blamed trustees, the Charity Commission and ministers for Kids Company collapse, citing an ‘extraordinary catalogue of errors’ in a critical report published this week.

The report states governance failings were at the centre of the charity’s downfall and that the responsibility must rest with the trustees. It accuses them of failing to build up reserves and protect beneficiaries in the long term. The report advocates ‘radical’ changes to charity regulation and government grant giving.

 

TalkTalk hack costs £60 million

TalkTalk has said that the cyber attack, which involved 157,000 customers’ data, affected trading to the value of £15 million. The additional costs, such as IT, incident response and consultancy fees, were estimated at £40–45 million.

However, despite the hack occurring in October, TalkTalk's revenues rose 1.8% in the third quarter of 2015. Chief executive Dido Harding said in a statement ‘trust in the TalkTalk brand has improved since just after the attack and consideration is higher now than it was before the incident.’

 

NHS could ‘save £5 billion a year’

A review by Labour peer Lord Carter of Coles, reports that hospitals in England could save £5 billion a year of their £55 billion budget by 2020. The review suggests this could be achieved through measures such as cutting running costs and reducing variations in the quality of care that patients experience.

Last year the NHS committed to delivering £22 billion a year of efficiency savings by 2020–21.

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