Some growth but inflation bites
It’s been good to see some economic growth with an unexpected 0.3% figure in November. Services and production rose and construction fell. The results at least counter some of the previous slippage but won’t be giving a great annualised figure regardless – but all helping.
Likewise, whilst we read a colossal 700,000 graduates are unemployed,...
Toothless Budget lacked real drive
For readers here, the biggest pieces of good news were what she didn’t do, such as attacking pension tax-free lump sums or tax relief on contributions, no lifetime Inheritance Tax on gifts or changes to present allowances and no changes to CGT. We did our best to discourage people from taking their cash from...
Budget ‘black hole’ is filling with rumour if nothing else…
This Wednesday, (November 26) the Chancellor will unveil her much-anticipated Autumn Budget and reveal her latest plans for filling the alleged ‘£20 billion black hole’ in the public finances. Or is it £30bn?
So what will be in Rachel Reeve’s Budget and how might it affect you? That is certainly the £20billion question because, as...
What the Chancellor should be saying in a pre-Budget speech…
We try not to do politics in these columns but following headlines suggesting Chancellor Rachel Reeves may well become the first to increase Income Tax in 50 years in fact (breaking manifesto pledges in the process), we had a little go at envisaging her speech before the November 26 Budget.
(The following is tongue in...
A message from the Chancellor…
Good afternoon. I have just returned from a relaxing and much-needed break which took us to bustling Hungary, Slovakia and Austria. Yes, I took the computer though the inbox defied my occasional review so apologies if you are still awaiting my reply!
I returned to an unexpected speech from our Chancellor. I should like to...
UK growth pains, our 40th and testimonials
Oh dear, so the latest UK economics’ figures for the month suggest there was zero growth (and also August’s government borrowing was higher than expected as well). As I have shared before, chancellors pre-spend their projection of economic growth’s increased tax revenues so when it doesn’t happen… and the flip side is then more...
Stamp duty shenanigans dent confidence
Interesting times with politics and Stamp Duty shenanigans. They all affect investor sentiment too and confidence and upsets are not helpful. I do feel slightly sorry for Angela Rayner on this one in that one relies upon those completing the process to know what Stamp Duty to pay but of course if they were...
Savings, tax and stocks to hold?
Last week we were greeted with even higher inflation figures, apparently fuelled by higher aviation costs though primarily the problem remains reaction to the Government’s increases in Minimum Wage, National Insurance and other business costs and taxes. Curiously, at the same time the cost of oil and gas has been very weak but not...
‘Low key’ Spring Statement contained few surprises
The Chancellor’s Spring Statement did not contain a great deal we hadn’t already heard and no immediate prospects for economic growth.
In a relatively low key affair, Rachel Reeves set out her latest update on the economy and restated plans to cut the welfare budget as well as making cuts to Government departments, as we...