Martin

The money-saving guru has urged those who have paid for trips with major holiday firms and airlines to avoid the DIY approach

Martin Lewis has delivered a stark warning to anyone who has already booked a holiday for this summer – and explained why people could be making a big mistake getting flights and hotels separately. In a recent update, the money-saving guru has urged those who have paid for trips with major holiday firms and airlines, including TUI, Jet2, Ryanair, Wizz, easyJet and British Airways, to pay close attention.

It was suggested this week that the UK could be worst hit by jet fuel shortages because it has ‘critically low levels’ of supplies and poor refining tools, by Goldman Sachs. The giant investment bank Goldman Sachs said in a research note to clients: “The UK is the largest net importer of jet fuel in Europe, and it holds no strategic reserves, leaving commercial inventories as the primary buffer.”

During his Money Show Live on ITV, the financial expert responded to an audience member who asked: ‘If my flight’s cancelled due to no jet fuel will you definitely receive at the moment package holidays give you a certain as well.’ Mr Lewis explained that holidaymakers would lose their hotel booking costs if they had arranged accommodation independently from flights reserved with airlines such as Jet2, TUI, Wizz, Ryanair or easyJet – as they would not be protected under consumer regulations.

He said: “No. And I think this is what people need to be very aware of. If you booked a package holiday where you booked everything in one, then under the package holiday regulations and rules and protections generally if your flight went you would get everything back.”

He added: “And so actually at the moment package holidays give you a certain level of extra security that you wouldn’t get if you did a DIY booking where you bought your hotel and flight separately.” The reason for this, he explained, stems from the fact that the hotel reservation itself remains entirely valid: “Because the point is if you lose your flight and you’ve DIY booked, there’s nothing wrong with your hotel.

“The issue is you can’t get there. Your hotel is still there. It’s not faulty. It’s not cancelling. So, you don’t have those consumer rights.” If the accommodation provider hasn’t violated any terms, then guests might examine how they’ve paid for their booking – but that route offers no solution either. He said: “So, you would then say, ‘What about using a credit card or debit card protection?’ It won’t work because there’s nothing faulty. And that’s just giving you the same replica rights that you would have with the retailer.”

For those still seeking a solution, travel insurance may seem like the next logical port of call. Mr Lewis revealed: “So, you’ then say, ‘What about travel insurance?’ This is the bad bit. We were checking 40 travel insurance policies. Of those, only a few would have covered you for the knock-on eventuality of your flight being cancelled due to jet fuel and then your hotel costs.

“Only about three or four and most of those were package bank accounts where it’s linked to your bank account. Only one standalone provider. So we need to be blunt at the moment. There is a big risk in those circumstances. If you’re booking, you want something with free or limited cancellation quite short before. So you could just cancel it. You should always talk to the provider.

“Government are saying there isn’t one at the moment and they’re working on consolidating flights and doing things so there won’t be one, but people’s hotel costs if they book separately and other knock-on costs are potentially at risk.”

Speaking on his ITV programme, he also cautioned that neglecting to take one vital step after booking could leave holidaymakers with absolutely nothing if their plans fall through. With the ongoing turmoil in the Middle East sparking serious worries over jet fuel supplies, Mr Lewis warned that those who book a holiday and put off arranging insurance could risk losing everything should something go wrong in the interim.

Mr Lewis emphasised that travel insurance ought to be bought the instant a holiday is booked: “The reason you do that is because half of the cover you’re paying for is in case something happens that stops you going before the trip. And if you don’t have the travel insurance place, you’ve got no cover. So, you may as well have it in place. But at this time of year when many people have already booked, I have a slight adaptation, which is this. If you’ve booked and you don’t have it yet, just get it now.

“Get it done as soon as possible.” A Money Show Live viewer named David said: “I booked flights to Australia for a family group of seven to travel in March next year. I took out insurance immediately. One of our group is now pregnant and can’t travel on the dates planned. It costs £5,000 to reschedule, which I’m happy to report the insurance covered.”

Mr Lewis also commented on the complexities facing larger groups: “Very quick aside on that, think of who you’re booking for. So, if it’s a family group and one can’t go, they’ll often cover you. But if there’s a large group of friends going, you often all get independent travel insurance. Well, then if one can’t go or and you can’t all go on the trip, it’s only the person who’s who’s got that cover. So, you’d need a group insurance policy so that if one can’t go, you all can’t go.”

Jet2 today said now people choosing a package holiday as their preferred method of booking is up 5% to 51% since February. In the same period, the number of people preferring to book through different providers has dropped by six percentage points to 20%. Those choosing ‘accommodation only’ has dropped to 2%.

The primary reasons for choosing a package holiday have remained steady, with value (36%) and ease (36%) the main drivers, however the benefit of ‘added security with one provider, ATOL/ABTA protection’ has increased by four percentage points since February to 26% the poll said.

This protection means that customers are covered should any changes happen to their bookings, including the option of receiving refunds if their travel plans are cancelled, and that those holidays are held to the highest standards when it comes to customer service, changes to bookings, and health & safety.

Jet2 has confirmed it will not introduce surcharges on any booked flights or holidays to cover cost increases, for example jet fuel, assuring customers that the price they book with Jet2 is the price they will pay.

Steve Heapy, CEO of Jet2 said: “Consumers want assurance during times of uncertainty and package holidays provide that assurance. On top of all the protection that our package holidays guarantee, Jet2 is well known as being a consumer champion that goes above and beyond to look after customers. Ahead of a busy summer season, this means new and existing customers know that their well-deserved holidays are in the very best hands with us, and we are very excited about welcoming everyone onboard and taking them on their breaks.”

Tim Martin has spoken out after Ryanair boss Michael O’Leary claimed drinking booze at UK airports, such as London Heathrow, should be banned before a certain time

The boss of JD Wetherspoons has hit back at the Ryanair CEO’s claims alcohol shouldn’t be served at UK airports in the early hours of the morning.

Tim Martin, who founded his pub chain in 1979, said Michael O’Leary’s suggestion would require passengers being breathalysed at airports. He described the plan as “an overreaction”.

But Mr O’Leary, boss of the budget airline, had claimed an average of nearly one flight every day is diverted due to disruptive passengers fuelled by booze. The 65-year-old businessman said these tourists often drink in bars at airports for hours before they board their planes, and called on a ban on serving booze at airport bars in the early hours of the morning and a two-drink limit thereafter.

Mr Martin, though, has said: “A two-drink limit would be extraordinarily difficult to implement, short of breathalysing passengers, and would, in our opinion, be an overreaction — especially since many of the problems stem from incoming flights. It is in everyone’s interests to have good behaviour at airports and on flights.”

READ MORE: Mum raves about ‘family friendly’ Wetherspoons nestled around stunning bluebell forestREAD MORE: Seaside town with UK’s shortest pier and arcades ‘paying out big’

Mr Martin, 71, also told The Times it had “never been suggested” its customers cause disruption on flights. JD Wetherspoon told the newspaper that pubs in airports were “highly supervised” with strict policies preventing excessive alcohol consumption.

Airside bars in the UK are not required to follow restrictions on opening hours which apply to other venues selling alcohol. Being drunk on a plane is a criminal offence in the UK and can be punished by a fine of up to £5,000 and two years’ imprisonment.

But alcohol can be served on flights, including those of Ryanair, and there have been no calls on this practice. This, coupled with alcohol consumption at airports, has led to a number of incidents of disruption recently.

A man was, for instance, jailed for becoming abusive, causing widespread alarm throughout the Ryanair aircraft on which he was travelling from Poland to Bristol.

And, on Thursday, Ryanair welcomed the decision by a court in France which it said found two passengers guilty of causing disruption onboard a flight from Stansted to Ibiza that was diverted to Toulouse in May last year. The pair received a combined penalty of more than 10,000 euros (£8,640) and received suspended prison sentences of up to 10 months, according to the airline.

Speaking earlier this week, Mr O’Leary shared his plans. The father of four had said: “I fail to understand why anybody in airport bars is serving people at five or six o’clock in the morning. Who needs to be drinking beer at that time? There should be no alcohol served at airports outside [those] licensing hours.”

Martin Clunes disclosed that the family member was “very precious”, saying they did everything together on his Dorset farm, where he lives with wife Philippa Braithwaite

Martin Clunes has opened up about a devastating family loss, describing his “buddy” as “one in a million”. Since relocating from London to a 130-acre farm near Beaminster, Dorset, in 2007, the Doc Martin star has resided on the £5 million property alongside dogs, horses, cattle, sheep and chickens throughout the years.

Animals also take centre stage in his latest book, Training John and Murray. Amazon’s description reveals it chronicles the “whirlwind of chaos” unleashed by two Jack Russell puppies that he brought into his household.

Within the book, Martin recalls how a litter of Jack Russells came “wriggling into the world“. The dog lover said they were tiny; indeed, they were small enough to nestle in the “palm of a hand” and featured two “celestial” brothers.

Martin wrote: “I didn’t know it then, but these two little celestial wolves would soon change our lives, push us to the brink and turn our whole world upside down.”

He also reflected on losing his “very precious” dog, Jim.

He wrote: “The previous year, we’d lost my very own and very precious Jack Russell, Jim, to liver cancer. Jim was everything I hadn’t realised that I wanted from a dog. He was one in a million.

“For fourteen years, he had been my buddy and my right-hand dog. We did everything around the farm together. He had actually been a surprise Christmas present.”

This follows Martin’s admission that he wished he had “more work” while discussing the pressures of running a farm. Martin, who resides with his wife, Philippa Braithwaite, previously described the property as his “favourite place in the world”.

Martin acknowledged that it’s an “expensive” enterprise, especially regarding staffing expenses and his passion for food and drink. He told The Times: “I wish I had more work because we’re very expensive to run.”

He added: “If I didn’t employ people and enjoy food and drink so much, it might wash its face, but yes – if I don’t work, within a year we’d have to sell up.”

Speaking to Dorset Magazine, the Men Behaving Badly actor revealed they’d originally wanted a field to get a pony for their daughter, Emily Clunes (now an equine veterinary nurse), but “suddenly 130 acres came up”.

It appears that it’s all worth it, though, as Martin previously revealed in an interview with the Express that he “can go for weeks without leaving” the farm and said he enjoys feeling “connected to the seasons” there.

He said: “It’s my favourite place in the world. I can go for weeks without leaving the farm. I like being connected to the seasons in a real way – making hay, worrying about the grass, watching the leaves come and go, and caring for the animals.”

The Money Saving Expert founder reminded people of this ‘most important’ thing to do when booking a holiday

As the peak travel season draws near, Martin Lewis has reminded holidaymakers of his ‘golden’ travel rule, which he urges everybody to follow. He set out exactly why it matters during a recent special edition of the Money Show Live on Tuesday, April 28.

Martin said that his “most important” tip is to take out travel insurance “as soon as you book” – a principle he shortens to four letters: ‘ASAB’. Outlining his rule, Martin said: “If you’re booking a single-trip policy, then you get the insurance as soon as you book to cover a specific future date.

“You pay for that and, once you’ve paid for it, you have the travel insurance. If anything happens from that point onwards, you’re covered, no problem.”

Rather than waiting for something to go wrong, travellers should look at securing insurance the moment they book their holiday, safeguarding themselves should any problems arise in the lead-up to their travels. The level of cover on offer will vary depending on the type of policy chosen.

Martin’s reason for getting protected straight away – even if your trip is several weeks or more than a year down the line – is that cover kicks in immediately, reports the Express. He said: “The reason you do that is that half of the coverage you’re paying for is in case something happens that stops you from going before the trip.

“If you don’t have travel insurance, you’ve got no cover. So you might as well have it in place. At this time of year, when many people have already booked, I have a slight adaptation. If you’ve booked and you don’t have it yet, just get it now.”

Fellow ITV presenter Jeanette Kwakye shared that a viewer got in touch to say how they managed to avoid a £5,000 rescheduling fee thanks to having travel insurance in place. The viewer told Martin: “I booked flights to Australia for a family group of seven to travel in March next year.

“I took out insurance immediately. One of our group members is now pregnant and can’t travel on the dates planned. It cost £5,000 to reschedule, which I’m happy to report the insurance has covered.”

During the programme, Martin warned anyone booking a summer holiday that they would not receive a refund if their flight was cancelled and they were unable to reach their hotel. However, this only applied if they had booked in a particular way – and there is a means of safeguarding yourself should the worst come to pass.

The money expert was asked by an audience member: “If my flight’s cancelled due to no jet fuel will you definitely receive all your money back, even for your hotel booking as well.”

Martin confirmed that travellers would lose their hotel booking money if it had been booked separately from their flights, as they would not be protected under consumer rules. He said: “No. And I think this is what people need to be very aware of.

“If you booked a package holiday where you booked everything in one, then under the package holiday regulations and rules and protections generally, if your flight went, you would get everything back. At the moment, package holidays give you a certain level of extra security that you wouldn’t get if you did a DIY booking where you bought your hotel and flight separately.”

In other travel news, airline passengers have been told there are two days that are often “cheapest to book a flight”. This will naturally depend on factors such as your destination, your chosen airline, and where you book – full details here.

Some believe it was ignored when the Oscar awards were handed out that year

A favourite of an Oscar winning filmmaker can now be streamed on Netflix.

In the latest update of the streaming platform’s library, a 2024 horror fantasy title said to become a generation’s favourite cult movie. I Saw The TV Glow is now available to users of the platform.

The film stars Justice Smith and Jack Haven as Owen and Maddy, two dispirited teenagers who bond over a late night Buffy The Vampire style show called The Pink Opaque, which offers up a vision of a supernatural world beneath their own. However, following traumatic events, the lines between the show and reality soon begin to crack.

It boasts an impressive 85% on website Rotten Tomatoes and earned many rave reviews although it was overlooked on the awards circuit. Something which lead to one critic claiming that “the Oscars and Golden Globes criminally overlooked” the film. However it did manage to receive praise from Hollywood royalty.

Acclaimed director Martin Scorsese singled it out as one of his favourite films of that year. In an interview with AP in late 2024, the maker of Goodfellas and The Wolf of Wall Street, said: “There was one film I liked a great deal I saw two weeks ago called I Saw the TV Glow.

“It really was emotionally and psychologically powerful and very moving. It builds on you, in a way. I didn’t know who made it. It’s this Jane Schoenbrun.”

Scorsese was not alone in his praise as Rolling Stone magazine declared it is ‘Gen Z’s new favourite cult movie.’ Many fans also joined in with their recommendation.

Most admitted to feeling deeply affected by the film, as one said: “This movie hit me hard. Resonated with me so deeply I had to cry through the credits, ruminating on my own life. I think anyone who grew up as an outcast/weird kid, especially in a suburb will relate to the film and characters struggles.”

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Another added: “This film reminded me of the first time I saw Donnie Darko. It left me thinking and needing to watch it again. This film is entirely metaphorical and does not follow an obvious straight forward plot line. It will make you think and try to discern what every scene means and I enjoy that style of filmmaking.”

While another predicted its future status: “A future cult classic that deserves to be seen on the big screen, but it was fitting I saw this with a smattering of others in a matinee. It’s a movie that can change your life if you let it, and is somehow also about the danger of letting media change your life. It walks a delicate balance and is a wholly original work of pastiche filmmaking.”

Someone else stated: “The first time I watched this movie, I couldn’t take my eyes off of the screen. I was mesmerised. while it may not be a movie for everyone, I Saw the TV Glow really touched me in a deep personal space. I Saw the TV Glow is, for me, truly a masterpiece.”

While some disagreed the film should not be considered pure horror, others claimed it was in the right territory. As one person said: “Some REALLY like REALLY good plot twists. It was actually disturbing, I have not gotten creeped out or disturbed at a movie for a while until I saw this. This movie by far has to be THE BEST horror movie of 2024. One more thing this is my opinion but the plot twist was WAY better than The Sixth Sense.”

I Saw The TV Glow is streaming on Netflix.

Money expert on his ITV show said ‘there is a big risk in those circumstances’

Martin Lewis has warned anyone booking their summer holiday that they won’t get their money back if their flight is cancelled and they’re unable to reach their hotel – provided they’ve booked in a particular way. During his Money Show Live on ITV last night, the financial expert was questioned by an audience member: ‘If my flight’s cancelled due to no jet fuel will you definitely receive all your money back even for your hotel booking as well.’

Mr Lewis clarified that travellers would forfeit their hotel booking fees if they’ve arranged it separately from their flights booked with operators like Jet2, TUI, Wizz, Ryanair, easyJet – as they won’t be protected by consumer regulations. He said: “No. And I think this is what people need to be very aware of. If you booked a package holiday where you booked everything in one, then under the package holiday regulations and rules and protections generally if your flight went you would get everything back.

“And so actually at the moment package holidays give you a certain level of extra security that you wouldn’t get if you did a DIY booking where you bought your hotel and flight separately.”

This is because there’s nothing amiss with the hotel reservation itself, he explained: “Because the point is if you lose your flight and you’ve DIY booked, there’s nothing wrong with your hotel. The issue is you can’t get there. Your hotel is still there. It’s not faulty. It’s not cancelling. So, you don’t have those consumer rights.”

If the hotel hasn’t done anything wrong, then travellers might look at how they’ve arranged their booking – but there’s little relief to be found there. He said: “So, you would then say, ‘What about using a credit card or debit card protection?’ It won’t work because there’s nothing faulty. And that’s just giving you the same replica rights that you would have with the retailer.”

Finally, people may turn to their travel insurance. Mr Lewis explained: “So, you then say, ‘What about travel insurance?’ This is the bad bit. We were checking 40 travel insurance policies. Of those, only a few would have covered you for the knock-on eventuality of your flight being cancelled due to jet fuel and then your hotel costs.”

READ MORE: Major airline cancels all flights to three UK holiday hotspots for JuneREAD MORE: TUI, easyJet and Jet2 Monday update as 3 statements for passengers issued

“Only about three or four and most of those were package bank accounts where it’s linked to your bank account. Only one standalone provider. So we need to be blunt at the moment. There is a big risk in those circumstances. If you’re booking, you want something with free or limited cancellation quite short before. So you could just cancel it. You should always talk to the provider.

“The reason this is important to know is if you are in that position once you understand you have no rights and they say, ‘Well, we’ll give you a voucher and you can come back in 6 months.’ You suddenly realise you’re doing well, not badly, right? If you didn’t have free cancellation and that this is going to be a problem if we get to that jet fuel shortage.

“Government are saying there isn’t one at the moment and they’re working on consolidating flights and doing things so there won’t be one, but people’s hotel costs if they book separately and other knock-on costs are potentially at risk.”

Martin Dugard is a prolific author and writer. He’s also an assistant cross-country coach at Santa Margarita after being head coach at JSerra for 15 years.

His newest book is “The Long Run,” which discusses the 1970s running boom and is a narrative history of four who sparked the marathon boom: Steve Prefontaine, Frank Shorter, Joan Benoit Samuelson and Grete Waitz.

He’s going to have a book signing on Saturday at 1 p.m. at Barnes & Noble, 26751 Aliso Creek Rd., Aliso Viejo.

Don’t be surprised if he tries to run from Rancho Santa Margarita to his book signing.

This is a daily look at the positive happenings in high school sports. To submit any news, please email eric.sondheimer@latimes.com.

Eddie Murphy is celebrating not just his lifetime achievement award, but also the arrival of his third granddaughter, perhaps the funniest baby alive.

Murphy’s son Eric and Martin Lawrence’s daughter Jasmin have welcomed their first child together, baby Ari Skye.

On Saturday, Murphy was honored with the 51st AFI Life Achievement Award at a gala in Hollywood and told reporters that he had recently celebrated back-to-back milestones.

“I just had my first grandson two months ago, and I had my third granddaughter two weeks ago. And I turned 65 a month ago,” he told “Entertainment Tonight” ahead of the gala. “It’s raining blessings on me.”

The ceremony celebrated his storied career across comedy and film, and featured tributes from fellow funnyman Dave Chappelle and “Shrek” co-star Mike Myers. The special will premiere May 31 on Netflix.

The “Dr. Dolittle” star also gushed about his new grandbaby to E! News, and told the outlet that being honored for his work was “a wonderful thing” but that his legacy wasn’t his work.

“My legacy to me is my children,” he said.

Asked whether he or Lawrence offered their kids any parenting advice as they prepared to welcome Ari Skye, Murphy said he’s more of a lead-by-example kind of dad.

“You don’t give advice like that,” he told the outlet. “Your kids don’t go by your advice. Your kids go by the example you set. They watch you. Stuff you be saying, they don’t even pay that no mind. They watch and see what you do.”

In March, Jasmin and Eric posted photos from their lavish baby shower on social media. The shindig included a three-tiered pink cake, pink cocktails garnished with meringue that looked like clouds and balloons galore. “The most beautiful and special celebration for our baby girl,” the couple captioned the post. “Thank you to our parents and everyone that made this day so magical! Ari Skye Murphy, you are SO loved already!!”

Excitement around Ari Skye’s arrival had been brewing in the media long before the couple even announced they were expecting. Murphy joked about a potential grandbaby when Jasmin and Eric were dating back in 2024, during an interview with Gayle King.

“They’re both beautiful,” he said. “They look amazing together. And it’s funny — everybody’s like, ‘That baby gonna be funny!’ Like our gene pool is just going to make this funny baby.”

Murphy agreed, saying: “If they ever get married and have a child, I’m expecting the child to be funny.”

A legendary NFL coach found linebacker Rod Martin not by scouting him at USC, but almost by accident.

The Oakland Raiders had a throwaway 12th-round pick in the 1977 draft, and then-coach John Madden grew frustrated hearing his personnel executives contemplate using it on a basketball player or track guy. Finally, Madden blurted out that he could find a random kid walking around the USC campus in sandals who could make more of an impact than that.

“Ron Wolf says, ‘All right, smart guy,’” recalled Madden’s son, Mike. “So they were a couple picks away and dad goes, ‘Let me call [USC coach] John Robinson.’”

Robinson had one question: Has Rod Martin been drafted?

Raiders linebacker Rod Martin stands on the field during a game against the Buffalo Bills on Dec. 6, 1987, at the Coliseum.

(Mike Powell / Getty Images)

“Dad goes, ‘What position does he play?’” the younger Madden said. “Robinson tells him Martin is a linebacker, and dad goes, ‘Good. Tough guy we can knock around in training camp. Have him run down on kicks.’ And Robinson says, ‘No, John. Rod Martin will make your team.’”

Martin did a lot more than make the team. He would go on to set a Super Bowl record with three interceptions in one of the most dominant defensive performances in championship history.

Martin, who would play his entire 12-year career with the Oakland then Los Angeles Raiders, is dead at age 72. The Raiders announced his death Monday but did not specify a cause of death.

“The Raiders family is deeply saddened by the passing of Rod Martin, a standout linebacker and key player on two Super Bowl championship teams,” read a team statement.

The franchise called Martin, “a beloved member of the Raiders Family and a favorite of Raiders fans everywhere.”

A two-time Super Bowl winner and a two-time Pro Bowl selection, Martin saved his best game for the biggest stage. In Super Bowl XV at the Louisiana Superdome, he intercepted Philadelphia Eagles quarterback Ron Jaworski three times in a 27-10 Raiders victory.

“What I remember about Rod was his ability to diagnose and react,” Jaworski said by phone Monday. “In the Super Bowl, he makes two phenomenal plays. He has three interceptions, but interceptions one and two — I’d like to say they were bad decisions on my part. They weren’t. I tried to squeeze throws in. He just made a great play. He was a great athlete.”

Three years later, Martin was still a key component to the Raiders’ defense in a Super Bowl victory over Washington. He had a sack of quarterback Joe Theismann, a fumble recovery, and a fourth-and-one stop of John Riggins late in the third quarter of a 38-9 blowout.

Born in Welch, W. Va., the son of a coal miner grew up in Los Angeles and attended Hamilton High before going on to play at Los Angeles City College and USC. The NFL saw him as a tweener, too small for linebacker at 210 pounds and too slow to play safety. Clearly, that was a faulty assessment.

Hall of Fame quarterback Warren Moon was two years behind Martin at Hamilton, and the two remained friends throughout the decades that followed.

“We met when I was a sophomore,” Moon said. “He was a senior — middle linebacker, fullback and center on the basketball team. He was the ultimate athlete. At the time I was there, I looked up to him quite a lot.

“He wasn’t the biggest guy in the world, but he was big enough. He had the strongest hands and the strongest forearms. He could just take a tight end or whoever came to block him, grab his pads, shove him off and go make the play. He was just a real solid player.”

It was those hands that grabbed an opportunity with the Raiders and didn’t let go.

“So dad goes marching into the draft room,” Madden said, “looks at Ron and everybody else and says, ‘We’re going to take Rod Martin, linebacker, USC.’ And they did.”

He was asked if now is a good time to open an ISA or not

Martin Lewis has offered some advice on how you could organise your savings. He explained the practical tip amid the current uncertainty surrounding the economic impact of the Iran conflict.

The major war has already triggered a surge in oil prices, with fears of long-term consequences for food production and global economic growth.

Mr Lewis was questioned on his BBC podcast about whether now is an opportune moment to open a stocks and shares ISA, given that markets are struggling. When share prices fall, it can present a prime opportunity to invest, as your funds could increase in value when the market bounces back. But if prices decline further, the worth of your holdings could also drop. In response, Mr Lewis outlined the general principle to bear in mind.

He said: “If you’re talking about investing for a long term money that you don’t need for five years and you’re going to do that in a nice spread of investments, like a global tracker fund or an S&P tracker or FTSE tracker, then you just have to accept that you will never know when the perfect time to put money in is.”

£1,000 savings tactic

Nevertheless, he did reveal one strategy you could use to reduce the risk posed by market volatility. Mr Lewis said: “Let’s just imagine you’re putting £10,000 in a stocks and shares ISA, and you’re putting it away for a long time.

“You could put £10,000 in now but you could arrange with the provider that it sits in its cash part. You can hold it in cash, within a stocks and shares ISA, for the moment.

“You could say I’ve got £10,000, over the next 10 months, I’d like you to buy £1,000 a month of that tracker fund that I’m putting my investment into. It’s called pound-cost averaging.

“Because you’re drip feeding the money in, that helps smooth out the short-term volatility of buying at the right moment. So if you’re worried about that volatility, you might want to adopt that tactic.”

Mr Lewis continued in saying that in reality nobody can predict the optimal time to invest. He said: “They are unknowable in the short term, but in a broad spread of investment over the long term, on the balance of probabilities, investing will outperform saving.

“So don’t let the volatility put you off, but you might want to spread the time that you’re putting the money in.”

Major changes to ISA allowances

Savers may also want to note that major changes to ISA allowances are on the horizon. Currently, you can deposit up to £20,000 each tax year, which can be divided as you wish between cash ISAs and stocks and shares ISAs.

From April 2027, you will only be permitted to save up to £12,000 as you choose. The remaining £8,000 will only be available for deposits into investment-based accounts.

Savers aged 65 and over will be exempt from the new regulations, retaining the existing £20,000 allowance. ISAs are entirely tax-free, with no tax liability on any interest earnings or investment gains within these accounts.