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Archive for ‘Financial industry news’

Are interest rates finally going to start heading upwards? More than six years after the Bank of England took the unprecedented decision to cut its base rate to just 0.5%, as the UK struggled to recover from the financial crisis; top economists believe that a hike will take place at some point in 20161. Nothing is certain. The UK’s negative inflation rate may give the…


Two and half years ago, I posted a blog on the dangers of the well-intentioned middle-class market interventions causing unintentional adverse consequences on low income families as a result of their “good intentions”. Known as the law of unintended consequences, my article discussed the dangers of headline grabbing legislation against pay-day money lenders like Wonga.com. While the chattering class tut-tut indignantly about the rip-off rates…


It’s such a difficult concept to argue against: freedom. For some you just need to picture Mel Gibson with blue face paint screaming the word and it’s “case closed”. Freedom encapsulates the abolition of slavery, the granting of the right to vote to all men and women, the rights and freedoms we have to speak out on any issue. It’s such a difficult term to…


The Department of Work and Pensions has today issued guidance on how benefits will be considered in respect of people using their pension. This paper means that the Government’s rhetoric about pensions freedom has taken a big hit today. The ‘Deprivation of Capital’ rule now being applied to pensions means that if you use pension “freedom” and simply spend your retirement fund, give it away or lose…


This is going to be a remarkable year. In April we’re going to see the most radical reform in pensions market in its history. Then I suspect we’re going to see an explosion of activity as people take advantage of the changes. In the space of a few weeks we’ll see the beginnings of changes, the effects of which will take a generation to fully…


At a time when many are enduring continuing austerity and wage stagnation now does not exactly seem the time for the UK government to be giving tax cuts to the wealthy and well advised. Yet today the chancellor has abolished 55% tax that had applied to untouched “defined contribution” pension pots left by those aged 75 or over, and to pensions from which money has…


Around one in seven 15 year old students are unable to make even simple decisions about everyday spending and only one in ten can solve complex financial tasks. That’s the finding, announced this week, of an international OECD assessment among 29,000 15 year olds in 18 countries and economies. Although the UK did not take part, Europe was represented by, among others, Belgium, Italy, Spain…


Scottish Friendly takes its second look of the year at the nation’s financial temperature. See what we’ve found. Click on the image below to see the full size infographic. Embed this post in your website – use the code below: <a href=”https://www.scottishfriendly.co.uk/community/blog/2014/07/a-nation-of-savers-put-away-10bn-each-month/”> <h2>A nation of Savers put away £10bn each month – infographic</h2> <img alt=”” src=”https://www.scottishfriendly.co.uk/community/blog/wp-content/uploads/2014/07/scottish-friendly-infographic-v2.3.png” width=”490″ height=”1474″ /> </a> <p>A nation of Savers put…


How do you define wealth? While some may define it by the car they drive, the number of houses they own (or owning a home at all!) or how many holidays they go on each year, far more people across the country define their personal wealth by their salary. But more so than that, people are increasingly likely to define their wealth based on how…


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