[olduser]

Another BBC 'News' item that is nothing but speculation;

https://www.bbc.co.uk/news/articles/c9vlm2ggrwlo

I think this an example of the BBC News needing to fill, in this case it's internet pages, with speculation.

Doe's anyone think BBC 24hr news is any use?

[Beelzebub]

@olduserThe only speculation seems to be about the size of any compensation?

Anyway, it's not just the BBC. It's been on LBC news for the last few hours

[Santa]

I don't understand. The BBC is simply reporting on the Financial Conduct Authority's proposal for a redress scheme.

The figure of £828 is calculated by dividing the lenders' estimate of £9.1bn by the estimated number of eligible finance deals.

[olduser]

But this is not news.
It is known that the FCA was working with the lenders to keep the compensation as low as possible, as apposed to the pending court case which is hoping to get recover the actual losses.

[Drivingforfun]

Originally Posted by Santa

The figure of £828 is calculated by dividing the lenders' estimate of £9.1bn by the estimated number of eligible finance deals.

That's a silly way to do it but understandable for maximum hits/views and stimulating the readers interest and easily defensible against allegations of misinformation so makes sense for the purpose of the article

[Rolebama]

I don't see any difference between this and the way they report most stories. I love the way they calculate average wages: They don't point out the hundred+ people making over a million a year, or people like McCartney reputed to be making a million a day through various business deals and royalties, and I don't think he is alone.

[Beelzebub]

Originally Posted by Rolebama

I don't see any difference between this and the way they report most stories. I love the way they calculate average wages: They don't point out the hundred+ people making over a million a year, or people like McCartney reputed to be making a million a day through various business deals and royalties, and I don't think he is alone.

I don't think the BBC (or any other medium for that matter) actually calculate average wages. That would be an impossible task.

They simply report what the government (in the shape of the Office of National Statistics) publishes..

[Santa]

Government statistics:

1.Other pages in this release

Household income inequality, UK: financial year ending 2024
Back to table of contents

2.Main points

In the financial year ending (FYE) 2024:

• Median household disposable income in the UK did not change statistically significantly from FYE 2023, it had a small increase of 0.8% to £36,700; this is in line with pre-coronavirus (COVID-19) pandemic, FYE 2020 levels.
• Median household disposable income for the poorest fifth of the population decreased by 2.6% to £16,800, largely because of a reduction in wages and salaries; this remains 4.9% below pre-pandemic, FYE 2020 levels.
• Median household disposable income for the richest fifth of the population decreased by 1.6% to £71,100, because of a reduction in original income; this is 5.8% below pre-pandemic, FYE 2020 levels.
• Median household disposable income in the 10 years up to FYE 2024 (FYE 2015 to FYE 2024) increased by 7.0%, with an average increase rate of 0.8% per year for this period.

• 
  The mean measure of income divides the total income of individuals by the number of individuals. A limitation of using the mean is that it can be influenced by just a few individuals with very high incomes and therefore does not necessarily reflect the standard of living of the "typical" person. However, when considering changes in income and direct taxes by income decile or types of households, the mean allows for these changes to be analysed in an additive way.
  Many researchers argue that growth in median household incomes provides a better measure of how people's well-being has changed over time. The median household income is the income of what would be the middle person if all individuals in the UK were sorted from poorest to richest. Median income provides a good indication of the standard of living of the "typical" individual in terms of income.