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New Indian Express
4 days ago
- Business
- New Indian Express
Keralite at helm, world's largest container vessel all set for Vizhinjam date
THIRUVANANTHAPURAM: The world's largest container ship, MSC Irina, is set to make its maiden call at the Vizhinjam port, with Captain Willy Antony, a native of Thrissur, at the helm. The vessel has reached the outer anchorage, drawing excitement from the public as it is the first time the ship is calling at a port in South India. Captain Willy, 47, hailing from Puranattukara, is thrilled to bring the mammoth vessel equivalent in length to four football fields and capable of carrying cargo stacked as high as a 22-storey building — to his home state. 'It's a proud moment for me to command a ship of this scale,' said Captain Willy. 'This vessel and Vizhinjam are both dear to me. Bringing the ship to my own land doubles the joy,' he said. However, the vessel which has a capacity of 24,346 TEUs (Twenty-Foot Equivalent Units) will have to wait for its turn to berth at the busy port as there are seven vessels already lined up for docking. Originally scheduled to dock on June 5, berthing may be delayed to June 7 or 8, said port sources. Given its enormous size, the vessel owned by Mediterranean Shipping Company and flying the Liberian flag will require four tugs to assist in mooring, compared to the usual two. An estimated 4,000 containers will be handled during its stay at Vizhinjam. A seasoned mariner with 29 years of experience and visits to 120 countries under his belt, Captain Willy Antony has been commanding MSC Irina since its commissioning in March 2023. The vessel's voyage included stops in Singapore, China, and South Korea before returning to Singapore. His wife, Hilda, and son, Benhail, accompanied him on the initial leg of the journey and disembarked in Singapore. 'Berthing is going to be challenging considering the monsoon condition. But the port has experienced people, including two of my former colleagues, to handle it,' he said. 'Vizhinjam has a georgaphical advantage for its natural depth,' Willy said. Despite the excitement of nearing home, Captain Willy expressed disappointment that he and his crew will not be able to step ashore.
IOL News
27-05-2025
- Business
- IOL News
Lessons from Microsoft: what Starlink can learn about entering the South African market
Elon Musk has previously claimed Starlink was barred from operating in South Africa because he is not Black, an allegation South African officials refuted. Image: AFP 'In 2011 as MD of Microsoft SA I signed one of the first Equity Equivalent deals in the ICT sector worth about R500m. The Equity Equivalent deal paved the way for more than R25 billion Microsoft has invested in SA under the leadership of Lillian Barnard. The R25 billion direct investment by Microsoft was about building of cloud data centres in SA in the process creating youth employment and buying material from local businesses. It was never about dishing that money to individuals.' wrote Mteto Nyathi on the 25 May 2025 on X. There's a lot to learn from what Nyathi has shared on this matter in view of current debate about Starlink. The first lesson is that it is incorrect to suggest that it was impossible for Starlink to enter South Africa without handing over shares to a black business person. The post by Nyathi reminds us that a number of US tech companies entered the South African market without being required to do something impossible and unreasonable. South African technology history tells us that Microsoft has been involved in a number of skills development initiatives that were aimed at empowering black people with technology skills. Those technology skills development initiatives were done partly to address a challenge faced by young black people in the technology sector. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ We do not get the sense that there was any pain felt by Microsoft in the process of empowering young people. Instead, Microsoft has benefited in the sense that Microsoft products have been adopted across the board in South Africa. The second lesson from Nyathi's post is that few years down the line Microsoft has invested a significant amount of money in infrastructure that will benefit both South Africa and Microsoft in the form of data centres that will be developed in the country with the R25 billion investment. The lesson here is that it was possible to get investment based on the current version of the law designed to empower local people and economy. The R25 billion investment did not require any change in law. It's also important to note that Microsoft is not the only US tech company that observed local laws and still benefited in the process. Now, with those lessons in mind one has to ask, why was it necessary for current law to be tweaked. Was it not possible for Starlink to follow the same model followed by Microsoft and other US technology companies? In my view, the debate about what has been preventing Starlink from operating in South Africa is neither here nor there. It's not clear to me why there was a need to tweak the law to enable Starlink when the regulatory environment was already enabling. At the same time one can't say the majority of South Africans will not benefit from an existence of Starlink, now that policy provisions that were designed to enable them are no longer in place. We know that perhaps local businesses may not get the necessary skill to maintain or support Starlink in the long run. This partly creates a risk that South Africa will forever be dependent on Starlink to have such a technology. The process behind empowerment also entailed developing local capacity which is crucial in enabling continuity. Elon Musk needs to appreciate that there's something positive about developing others. The fact that such a technology will enable connectivity in rural areas is something worth celebrating. More technologies such as Starlink should be enabled in South Africa. The Amazon Project Kuiper should be enabled aswell as the Chinese version, SpaceSail (also known as Qianfan). This moment however raises a need to reflect as follows, where is Sentech? Is it not Sentech's role to provide what will ultimately be enabled by Starlink and others? Wesley Diphoko is a Technology Analyst and the Editor-In-Chief of FastCompany (SA). BUSINESS REPORT Visit:
Scottish Sun
23-05-2025
- Business
- Scottish Sun
Savings massacre as huge building society to make big change 92 accounts in DAYS
Read on to see if you account could be facing a interest cut NOT SO SAVVY Savings massacre as huge building society to make big change 92 accounts in DAYS Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A HUGE building society to make a big change to a number of accounts in DAYS. Skipton Building Society said that from June 9 a total of 92 types of savings accounts will have its interest lowered. Sign up for Scottish Sun newsletter Sign up 1 The building society has said it will lower rates on a number of its savings accounts Credit: Alamy The moves comes after rate-setters on the BoE's Monetary Policy Committee cut the base rate from 4.5% to 4.25%. This was the fourth interest rate cut since 2020. The base rate is used by lenders to determine the interest rates offered to customers on savings and borrowing costs. A base rate cut can mean that mortgage rates are lowered, which is good news for homeowners. But it can mean that savers lose out as the interest they earn on savings will drop As the base rate falls, some savings providers, including Skipton have chosen to lower the interest rates on some savings accounts. Some 89 savings accounts provided by the bank will have interest rates lowered. That includes it's Easy Access Saver account which will see the interest lowered from 3.05% AER to 2.80% from next month. AER, or Annual Equivalent Rate, is used to show you what you could earn from a savings account over a year. It's Retirement Saver will also see interest lowed from 2.80% to 2.55%. Skipton free ISA buns Meanwhile it's Children's Saver will be decreased 3.05% to 2.80% AET You can see the full list from below: Branch Cash ISA / Online Cash ISA (Issue 1-3): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Branch Cash ISA Plus (Issue 1): Rates are decreasing from 3.50% AER to 3.25% AER. Rates are decreasing from 3.50% AER to 3.25% AER. Branch Cash ISA Saver (Issue 1): Rates are decreasing from 2.85% AER (2.81% monthly) to 2.60% AER (2.57% monthly). Rates are decreasing from 2.85% AER (2.81% monthly) to 2.60% AER (2.57% monthly). Branch Cash ISA Saver (Issue 2): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Branch Cash ISA Saver (Issue 3): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Branch Cash ISA Saver (Issue 4): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Branch Cash ISA Saver (Issue 5): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Branch Cash ISA Saver (Issue 6): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Branch Cash ISA Saver (Issue 24): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Cash ISA Saver (Issue 1): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 2): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 3): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 4): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 5): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 6): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 7): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 8): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 9): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 10): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 11): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 12): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 13): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 14): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 15): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 16): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 17): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Cash ISA Saver (Issue 18): Rates are decreasing from 2.85% AER (2.81% monthly) to 2.60% AER (2.57% monthly). Rates are decreasing from 2.85% AER (2.81% monthly) to 2.60% AER (2.57% monthly). Cash ISA Saver (Issue 19): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Cash ISA Saver (Issue 20): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Cash ISA Saver (Issue 21): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Cash ISA Saver (Issue 22): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Cash ISA Saver (Issue 23): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Cash ISA Saver (Issue 24): Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Rates are decreasing from 3.05% AER (3.01% monthly) to 2.80% AER (2.76% monthly). Cash Lifetime ISA (Issue 1): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash Lifetime ISA (Issue 2): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash Lifetime ISA (Issue 3): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash Lifetime ISA (Issue 4): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash Lifetime ISA (Issue 5): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash Lifetime ISA (Issue 6): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash Lifetime ISA (Issue 7): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash Lifetime ISA (Issue 8): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. "Without Bonus" Rates: Rates are decreasing from 3.05% AER to 2.80% AER. Rates are decreasing from 3.05% AER to 2.80% AER. "With Bonus" Rates: Rates are decreasing from a range of 3.70%-4.75% AER to 3.45%-4.50% AER. Rates are decreasing from a range of 3.70%-4.75% AER to 3.45%-4.50% AER. 30 Day Notice Account (Issue 1): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. 60 Day Notice Account (Issue 1): Rates are decreasing from 3.35% AER to 3.10% AER. Rates are decreasing from 3.35% AER to 3.10% AER. 90 Day Notice Account (Issue 1-8): Rates are decreasing from 3.00% AER to 2.75% AER. Rates are decreasing from 3.00% AER to 2.75% AER. 120 Day Notice Account (Issue 1-15): Rates are decreasing from a range of 3.15%-3.35% AER to 2.90%-3.10% AER. Rates are decreasing from a range of 3.15%-3.35% AER to 2.90%-3.10% AER. Cash ISA (ex. Holmesdale) - 30 Day Notice (Issue 1): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Cash ISA 90 (ex. Holmesdale) (Issue 1): Rates are decreasing from 2.95% AER to 2.70% AER. Rates are decreasing from 2.95% AER to 2.70% AER. Cash ISA 90 (ex. Holmesdale) (Issue 2): Rates are decreasing from 2.95% AER to 2.70% AER. Rates are decreasing from 2.95% AER to 2.70% AER. Charities Notice (ex. Holmesdale) - 60 Day Notice (Issue 1): Rates are decreasing from 2.90% AER to 2.65% AER. Rates are decreasing from 2.90% AER to 2.65% AER. Holmesdale 30 (ex. Holmesdale) (Issue 1): Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Rates are decreasing from 2.80% AER (2.76% monthly) to 2.55% AER (2.52% monthly). Holmesdale Business 60 (ex. Holmesdale) (Issue 1): Rates are decreasing from 2.90% AER to 2.65% AER. Rates are decreasing from 2.90% AER to 2.65% AER. Holmesdale Business 60 Share (ex. Holmesdale) (Issue 1): Rates are decreasing from 2.90% AER to 2.65% AER. Rates are decreasing from 2.90% AER to 2.65% AER. Holmesdale Business 90 (ex. Holmesdale) (Issue 1): Rates are decreasing from 3.00% AER to 2.75% AER. Rates are decreasing from 3.00% AER to 2.75% AER. Holmesdale Business 90 Share (ex. Holmesdale) (Issue 1): Rates are decreasing from 3.00% AER to 2.75% AER. Rates are decreasing from 3.00% AER to 2.75% AER. Save 35 (ex. Holmesdale) (Issue 1): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Save 60 (ex. Holmesdale) (Issue 1): Rates are decreasing from 2.90% AER to 2.65% AER. Rates are decreasing from 2.90% AER to 2.65% AER. Quadruple Access Cash ISA Saver (Issue 1): Rates are decreasing from 4.35% AER to 4.10% AER. Rates are decreasing from 4.35% AER to 4.10% AER. Branch Quadruple Access Cash ISA Saver (Issue 1): Rates are decreasing from 4.35% AER to 4.10% AER. Rates are decreasing from 4.35% AER to 4.10% AER. Double Access Saver (Issue 1): Rates are decreasing from 3.50% AER to 3.25% AER. Rates are decreasing from 3.50% AER to 3.25% AER. Branch Double Access Saver (Issue 2): Rates are decreasing from 3.50% AER to 3.25% AER. Rates are decreasing from 3.50% AER to 3.25% AER. Branch Double Access Saver (Issue 3): Rates are decreasing from 3.50% AER to 3.25% AER. Rates are decreasing from 3.50% AER to 3.25% AER. Limited Access Saver (Issue 1): Rates are decreasing from 3.50% AER to 3.25% AER. Rates are decreasing from 3.50% AER to 3.25% AER. Limited Access Saver (Issue 2): Rates are decreasing from 3.50% AER to 3.25% AER. Rates are decreasing from 3.50% AER to 3.25% AER. Single Access Saver (Issue 1): Rates are decreasing from 4.15% AER to 3.90% AER. Rates are decreasing from 4.15% AER to 3.90% AER. Branch Single Access Saver (Issue 2): Rates are decreasing from 4.15% AER to 3.90% AER. Rates are decreasing from 4.15% AER to 3.90% AER. Branch Single Access Saver (Issue 3): Rates are decreasing from 4.15% AER to 3.90% AER. Rates are decreasing from 4.15% AER to 3.90% AER. Branch Single Access Saver (Issue 4): Rates are decreasing from 4.15% AER to 3.90% AER. Rates are decreasing from 4.15% AER to 3.90% AER. Branch Single Access Saver (Issue 5): Rates are decreasing from 4.15% AER to 3.90% AER. Rates are decreasing from 4.15% AER to 3.90% AER. Branch Single Access Saver (Issue 6): Rates are decreasing from 4.15% AER to 3.90% AER. Rates are decreasing from 4.15% AER to 3.90% AER. Branch Single Access Saver (Issue 7): Rates are decreasing from 4.15% AER to 3.90% AER. Rates are decreasing from 4.15% AER to 3.90% AER. Triple Access Saver (Issue 1): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Branch Triple Access Saver (Issue 2): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Branch Triple Access Saver (Issue 3): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Branch Triple Access Saver (Issue 4): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Branch Triple Access Saver (Issue 5): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Branch Triple Access Saver (Issue 6): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Branch Triple Access Saver (Issue 7): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Online Triple Access Saver (Issue 1): Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Rates are decreasing from 3.25% AER (3.20% monthly) to 3.00% AER (2.96% monthly). Home Deposit Saver (Issue 1): Rates are decreasing from 4.56% AER to 4.31% AER. Rates are decreasing from 4.56% AER to 4.31% AER. Home Deposit Saver (Issue 2): Rates are decreasing from 4.56% AER to 4.31% AER. Rates are decreasing from 4.56% AER to 4.31% AER. Branch Home Deposit Saver (Issue 3): Rates are decreasing from 4.56% AER to 4.31% AER. Rates are decreasing from 4.56% AER to 4.31% AER. Branch Home Deposit Saver (Issue 4): Rates are decreasing from 4.56% AER to 4.31% AER. Rates are decreasing from 4.56% AER to 4.31% AER. Child Trust Fund: Rates are decreasing from 4.00% AER to 3.75% AER. Rates are decreasing from 4.00% AER to 3.75% AER. Junior Cash ISA: Rates are decreasing from 4.00% AER to 3.75% AER. Rates are decreasing from 4.00% AER to 3.75% AER. Junior Cash ISA (ex. Holmesdale): Rates are decreasing from 4.00% AER to 3.75% AER. Rates are decreasing from 4.00% AER to 3.75% AER. Children's Saver: Rates are decreasing from 3.05% AER to 2.80% AER. Rates are decreasing from 3.05% AER to 2.80% AER. Children's Trust Saver: Rates are decreasing from 3.05% AER to 2.80% AER. Rates are decreasing from 3.05% AER to 2.80% AER. Leap Account (Issue 1): Rates are decreasing from 2.80% AER to 2.55% AER. Rates are decreasing from 2.80% AER to 2.55% AER. Leap Account (Issue 3): Rates are decreasing from 3.05% AER to 2.80% AER. Rates are decreasing from 3.05% AER to 2.80% AER. Young Saver (ex. Holmesdale) (Issue 1): Rates are decreasing from 4.00% AER to 3.75% AER. If you are not happy with the change, it is always worth looking at other providers to see if you can get a better deal. Websites such as MoneyFacts share the best offers on the market for savings and other types of bank accounts. Sally Conway, Savings Expert at Shawbrook Bank said that while savers may feel the pinch, this "doesn't mean it's time to settle for less". "In fact, with rates lowering across the board, now more than ever it pays to look beyond the high street. Specialist providers often offer some of the best rates available yet remain one of the best kept secrets in savings." She added: "Now's the time to be proactive. Don't let your savings get left behind – explore your options and make sure your money's working harder, especially when inflation is still a concern.' OTHER BANKING CHANGES Skipton is not alone in it's decision to lower interest rates on some of its deals. Leeds Building Society said it will lower the interest on 58 of its saving accounts. That includes its Five Access Saver which will have its interest rates lowered from 3.77% AER to 3.55% come June 27. Elsewhere, Monzo said it would lower the intertest on its Personal Instant Access Savings Pots from from 3.50% AER to 3.25% AER. The bank said it would make the changes automatically on May 27 2025. Elsewhere, Barclays, Nationwide and Lloyds have all confirmed their customers on standard variable rate (SVR) and tracker mortgages will benefit due to the rate cut. Barclays confirmed all its mortgage products that track the base rate will decrease by 0.25%. Existing customers will see their rates change from June 1. Barclays' standard variable rate mortgage is 3.49% above the base rate. It currently stands at 7.99%, but following today's announcement it will drop to 7.74% on June 1. Nationwide customers will also see interest rate reductions of 0.25%. Those on standard variable rate mortgages will start getting their new rate on June 1. It will drop from 7.24% to 6.99%.Tracker mortgages will also reduce on June 1.
Scottish Sun
22-05-2025
- Business
- Scottish Sun
Major building society to make big change to 58 savings accounts in weeks
Read one to see the full list of accounts that will be impacted SAVINGS BLOW Major building society to make big change to 58 savings accounts in weeks Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A MAJOR building society will make a big change to 58 savings accounts in weeks. Leeds Building Society will slash the rates on a number of its savings accounts. Sign up for Scottish Sun newsletter Sign up 1 Leeds Building Society will slash the rates on a number of its savings accounts Credit: Alamy The moves comes after rate-setters on the BoE's Monetary Policy Committee cut the base rate from 4.5% to 4.25%. This was the fourth interest rate cut since 2020. The base rate is used by lenders to determine the interest rates offered to customers on savings and borrowing costs. A base rate cut can mean that mortgage rates are lowered, which is good news for homeowners. But it can mean that savers lose out as the interest they earn on savings will drop. As the base rate falls, some savings providers, including Leeds Building Society have chosen to lower the interest rates on some savings accounts. Some 58 savings accounts provided by the bank will have interest rates lowered. That includes its Five Access Saver which will have its interest rates lowered from 3.77% AER to 3.55% come June 27. AER, or Annual Equivalent Rate, is used to show you what you could earn from a savings account over a year. It's Ronnie The Rhino Youngsaver account for those under 18 will also have its interest lowered. I've started saving up for next year's energy bills using savvy £1 hack.. Come June 26, the rate will lower from 3.80% AER to 3.65%. Meanwhile, Vault customers will see interest rates on their account from 3.80% AER to 3.65% come June 26. The change will take place from June 23, but dates can vary from offer to offer. You can take a look at the full list of account changes below 1 Year Double Access Cash ISA - Previous rate: 4.35% Tax free§ p.a./AER2 - New rate: 4.15% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.35% Tax free§ p.a./AER2 - New rate: 4.15% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 1 Year ISA Holding Account - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 1 Year ISA Holding Account (Issue 2, 3 & 4) - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Tax free§ p.a./AER2 - New rate: 3.65% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Access ISA (Monthly) - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Access Saver - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Access Saver (Monthly and Issue 6 & 7) - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Albion Access Account - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 Blue and Amber Account (Issue 2, 6, 8, 9, 11, 13, 14 & 15) - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Caringsaver - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Charitable Foundation Account - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 23, 2025 Child Trust Fund Bonus Saver - Previous rate: 4.40% Tax free§ p.a./AER2 - New rate: 4.25% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.40% Tax free§ p.a./AER2 - New rate: 4.25% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Dinosaver - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 E-ISA - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 E-ISA (Issue 7, 8 & 9) - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 E-Saver - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 E-Saver (Issue 7, 8 & 9) - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Five Access Saver - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Five Access Saver (Issue 2, 3 & 4) - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.70% Gross1 p.a./AER2 - New rate: 3.55% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Home Deposit Saver - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Home Deposit Saver (Issue 2 & 3) - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £30,000 - 4.90% Gross1 p.a./AER2; Above £30,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £30,000 - 4.80% Gross1 p.a./AER2; Above £30,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 ISA Saver - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 ISA Saver (Issue 4 & 5) - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 2.00% Tax free§ p.a./AER2 - New rate: 1.85% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Limited Issue Online Access Account (Issue 61 & 66) - Previous rate: 4.30% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.30% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Limited Issue Online Access Account (Issue 65) - Previous rate: 4.42% Tax free§ p.a./AER2 - New rate: 4.17% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.42% Tax free§ p.a./AER2 - New rate: 4.17% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Limited Issue Online Access ISA (Issue 66) - Previous rate: 4.20% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.20% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Limited Issue Online Access ISA (Issue 67 & 80) - Previous rate: 4.30% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.30% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Limited Issue Online Access ISA (Issue 68, 69 & 75) - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Limited Issue Online Access ISA (Issue 78) - Previous rate: 4.17% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.17% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Online Access Cash ISA (Issue 1) - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.25% Tax free§ p.a./AER2 - New rate: 4.10% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Online Access Cash ISA (Issue 2 & 3) - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Online Access Saver (Issue 1) - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Online Access Saver (Issue 2) - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.31% Gross1 p.a./AER2 - New rate: 4.15% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Online Access Saver (Issue 3) - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 4.41% Tax free§ p.a./AER2 - New rate: 4.16% Tax free§ p.a./AER2 - Implementation date: June 26, 2025 Regular Saver (Issue 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 56, 57, 59, 60, 61, 62 & 63) - Previous rate: £100 - £6,000 - 4.80% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.70% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £6,000 - 4.80% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.70% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Regular Saver (Issue 55 & 58) - Previous rate: £100 - £6,000 - 4.95% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.85% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £6,000 - 4.95% Gross1 p.a./AER2; Above £6,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £6,000 - 4.85% Gross1 p.a./AER2; Above £6,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Ronnie The Rhino Youngsaver - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Shared Ownership Saver - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Shared Ownership Saver (Issue 2 & 3) - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £20,000 - 6.00% Gross1 p.a./AER2; Above £20,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £20,000 - 5.90% Gross1 p.a./AER2; Above £20,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Six Access ISA - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Six Access ISA (Issue 2, 3 & 4) - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.65% Tax free§ p.a./AER2 - New rate: 3.50% Tax free§ p.a./AER2 - Implementation date: June 27, 2025 Six Access Saver - Previous rate: 3.00% Gross1 p.a./AER2 - New rate: 2.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: 3.00% Gross1 p.a./AER2 - New rate: 2.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Solihull Saver - Previous rate: £100 - £250,000 - 4.35% Gross1 p.a./AER2; Above £250,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £250,000 - 4.20% Gross1 p.a./AER2; Above £250,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 - Previous rate: £100 - £250,000 - 4.35% Gross1 p.a./AER2; Above £250,000 - 2.00% Gross1 p.a./AER2 - New rate: £100 - £250,000 - 4.20% Gross1 p.a./AER2; Above £250,000 - 1.85% Gross1 p.a./AER2 - Implementation date: June 27, 2025 Treasurers Saver Account - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 - Previous rate: 2.00% Gross1 p.a./AER2 - New rate: 1.85% Gross1 p.a./AER2 - Implementation date: August 13, 2025 Vault - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Vault (Issue 3, 4 & 5) - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Young Saver - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 Young Saver (Issue 2, 3 & 4) - Previous rate: 3.80% Gross1 p.a./AER2 - New rate: 3.65% Gross1 p.a./AER2 - Implementation date: June 26, 2025 If you are not happy with the change, it is always worth looking at other providers to see if you can get a better deal. Websites such as MoneyFacts share the best offers on the market for savings and other types of bank accounts. OTHER BANKING CHANGES Leeds Building Society is not the only bank which has lowered the interest on its deals. Online bank Monzo said it would lower the intertest on its Personal Instant Access Savings Pots from from 3.50% AER to 3.25% AER. The bank said it would make the changes automatically on May 27 2025. Elsewhere, Barclays, Nationwide and Lloyds have all confirmed their customers on standard variable rate (SVR) and tracker mortgages will benefit due to the rate cut. Barclays confirmed all its mortgage products that track the base rate will decrease by 0.25%. Existing customers will see their rates change from June 1. Barclays' standard variable rate mortgage is 3.49% above the base rate. It currently stands at 7.99%, but following today's announcement it will drop to 7.74% on June 1. Nationwide customers will also see interest rate reductions of 0.25%. Those on standard variable rate mortgages will start getting their new rate on June 1. It will drop from 7.24% to 6.99%.Tracker mortgages will also reduce on June 1.
RTÉ News
20-05-2025
- Health
- RTÉ News
Number of children awaiting speech, language therapy rises almost 200%
The number of children waiting over one year for initial speech and language therapy has risen by almost 200% in the last three years. Figures compiled by the Labour party also show a 170% increase in those waiting over a year for psychology support in the same period. Labour undertook comparative analysis based on data released through a Parliamentary Question to its Spokesperson on Health Marie Sherlock and on HSE workforce reporting. It shows that the increase in the number of staff providing therapeutic support has been a fraction of the almost two-fold jump in demand for therapies and services. Deputy Sherlock has described the figures as stark and "reflective of a broken system that is desperately failing children". Considering the need for timely intervention, Ms Sherlock has called on the Government and the HSE to "seriously rethink" the Progressing Disability Services Programme and the Roadmap for Service Improvement 2023-2026. The Labour Deputy said a fundamental change was required about "how and where services are provided". The Labour health spokesperson said new types of support roles needed to be developed in psychology, speech and language, and occupational therapy specialties to support staff, therapists, and services to provide adequate and timely services. While the "race" to recruit more therapists and ensure their timely registration must continue according to the Labour TD, she said it was "highly unlikely" that Children Disability Network Teams (CDNT) would fill the 529.77 Whole Time Equivalent (WTE) funded posts left unfilled from 2024. Opposition Parties will table a Private Members Motion during Sinn Fein's Private Members time tonight, calling for emergency action on Assessment of Need waiting lists. An Assessment of Need (AON) identifies whether a person has a disability, any health and education needs arising from that disability, as well as what services are required to meet those needs. Progress was being made in reducing the waiting list from 6,058 in the third quarter of 2020, down to 1,718 in the first quarter of 2022. However, in March 2022, the High Court found that the HSE's preliminary assessment approach did not meet the requirements of the Disability Act. The judgement, according to the HSE, resulted in a growth in overdue assessments of need and it acknowledged at the time, that outsourcing private assessments was "challenging" A year ago, the previous Government announced funding of almost €7 million in an initiative to tackle the Assessment of Need waiting list, on top of core funding of €5 m for the procurement of private assessments. The additional funding was to enable the HSE to procure up to 2,500 additional Assessments of need over up to November last year. Assessments of need must be completed within six months of the date that an application is received. However, just 7% of assessments were carried out within the required period. In a statement last week, the Sinn Féin Leader Mary Lou McDonald said children were scandalously left waiting for services and support. She said it was not good enough that 15,296 children were overdue their assessment of need. It is a rise from almost 8,900 children who were classified as overdue for an assessment by the end of 2023. Tonight's Private Members Motion coincides with 1 The Social Democrats have described the current situation as "outrageous". It said the Disability Act is being "flouted as if it were an optional extra – instead of the law of the land".
