Who will Pay the Bill for Covid-19?

Government borrowing is at its highest level since the Second World War. According to the Office for National Statistics it reached £303.1bn in the year to March – nearly £250bn higher than in the previous year. Borrowing in March was £28bn – the latest month to set an unwelcome record.

Could the UK have its own digital currency?

At a seminar in March, Haruhiko Kuroda, Governor of the Bank of Japan, suggested that the central bank should immediately start “preparing thoroughly” for a future with its own cryptocurrency. While there were no immediate plans to introduce a cryptocurrency Kuroda stressed the importance of being ‘thoroughly prepared’ should the…

The Chancellor’s Mortgage Guarantee: a Good Idea? Or a Big Mistake?

“Generation Rent,” declared Rishi Sunak in his Budget speech, “will become Generation Buy.” Had the House of Commons been full, this announcement would no doubt have been greeted with loud cheers by Conservative backbenchers. At last, someone is doing something to help young people get on the housing ladder… So…

Could we see Negative Interest Rates in the UK?

In February, the Daily Telegraph had a headline which must have alarmed savers up and down the land: ‘Savers face threat of negative interest rates.’ According to the story, the Bank of England had told the clearing banks that they ‘must be ready to introduce the policy in the next…

Budget Overview 2021

Introduction It is interesting to look back 12 months to Rishi Sunak’s first Budget: it was followed by a year none of us could have predicted or imagined. The Conservatives had won a comfortable majority in the December 2019 General Election. As expected, Sajid Javid became Chancellor and, in January,…

Who are the ‘winners’ of Covid-19?

To talk in terms of ‘winners’ and ‘losers’ around the topic of a global crisis certainly risks downplaying the human impact of the pandemic. It cannot be ignored, however, that amidst the unquestionable tragedy, there are companies, industries and indeed entire nations who have either benefited or can be expected…

Is cash still king?

As contactless payment options have grown dramatically in availability and popularity in recent years, we have seen a reduction in the use of cash as a result. While there has been a steady decline in cash withdrawals, and the use of cash transactions in general was to be expected as…

95% mortgages could leave the UK taxpayer liable for £44b

At the virtual Conservative Party Conference on 6th October, Prime Minister Boris Johnson gestured towards a plan in the pipeline to introduce 95% Loan to Value mortgages in an attempt to reinvigorate home ownership and in his words, “help turn generation rent, into generation buy.” While the details of this…

House prices have rebounded, but is it a “false dawn”?

At first glance, recent figures from the housing markets appear wholly positive. During July, Nationwide reported a 1.7% leap in prices. However, the country’s largest building society warned of a “false dawn” when they announced these figures. They highlighted that much of the rise can be attributed to pent-up demand…
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