Spring Budget 2023 – Key Announcements

Jeremy Hunt, the Chancellor of the Exchequer, has delivered his Budget, in which he unveiled big changes to pensions and childcare as part of an effort to tempt people back into work. Here’s our summary of the main announcements: Pensions • The lifetime allowance – currently around £1.07m – to…

Autumn Mini Budget – Key Announcements

Kwasi Kwarteng, the new Chancellor of the Exchequer, has delivered a mini-Budget, dubbed The Growth Plan, in which he promises “a new approach for a new era.” The Chancellor has put tax cuts and driving economic growth at the front and centre of his fiscal plan, as the government seeks…

HNW Individuals are Losing Money to Scams

The pandemic brought with it many unpleasant economic side-effects: problems in global supply chains and now, as the world tries to recover, rapidly rising inflation and interest rates. It also brought a considerable increase in fraud as scams proliferated: romance scams, investment scams and impersonation scams all increased significantly. Phishing…

How worried should we be about the price of food?

Andrew Bailey, the Governor of the Bank of England, made an apology last month. Not for inflation heading towards 10%, but for sounding ‘apocalyptic’ about the price of food. The possibility of more increases in food prices was a ‘major worry’ for the UK economy, he said, as he warned…

What Will Rishi Sunak Say in his Budget?

Chancellor of the Exchequer Rishi Sunak is expected to deliver his Spring Budget on March 23rd, in which he’ll outline his view of the country’s fiscal position. Mr Sunak has long been keen to stress that the money spent on the Government’s coronavirus economic support packages, such as the furlough…

Could Ukraine Crisis Force National Insurance U-Turn?

“Events, dear boy, events.” This famous quote is often attributed to former prime minister Harold Macmillan after being asked what could knock his government off course. This could be a timely quote right now, as the horrific events in Ukraine look set to impact on consumers and businesses across the…

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…
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