Money news with Gideon Spanier, Media Editor for the Evening Standard.
British Gas fined
British Gas has been fined over £11 million by the energy regulator, OFGEM for failing to deliver energy efficiency measure on time.
It comes after energy companies were made to promise that they would help their customers become more energy efficient, after there were complaints that for most customers were paying way above inflation prices to heat their homes.
British Gas is said to have taken too long to meet these energy efficiency schemes, and as a forfeit the company has to shell out the fine to give to charity.
Changes to stamp duty
Chancellor’s unveiled new changes to stamp duty in his autumn statement, which is said to be good news for first-time buyers.
The changes now made are to the amount of the percentage of the house value a homebuyer will have to pay in tax.
This is how it now stands:
Under £125 – 0 per cent
£125 – 250 will have to pay 2 per cent
£250 - £925 will have to pay 5 per cent
and £925+ 10 per cent
Sky to sell it’s betting company
Sky is selling its £800,000 gambling company Sky Bet to the private equity company CVC.
This is thought to be part of Sky’s bigger plan to take on the telecoms market.
This comes after BT has announce it is planning to broaden it’s business by selling mobile deals as well as broadband and landlines.
It is in talks with the mobile companies O2 to consider making an alliance to cover all threes areas.