Chancellor Rachel Reeves has delivered her first Budget. Eastmills will now summarise the key points for investments and pensions as we see them below: The Chancellor has unfortunately increased taxes by 40bn which unfortunately is a record we did not want to see. She has also increased borrowing to £127bn for the 2024/2025 tax year. […]
Saving up a deposit is “the biggest barrier to buying a property”, Hargreaves Lansdown head of personal finance, Sarah Coles, has argued. She said one solution would be parents putting aside a certain amount each month as a future deposit for their child. Acknowledging the current home buying landscape, Coles said: “How is anyone supposed […]
The bank of mum and dad funded £9.4bn worth of property purchases in 2023, research from Savills has found. This represents a twofold increase since 2019 which, the estate agency said, indicates a more stringent mortgage market and higher mortgage rates. The report found a total of 164,000 first-time buyers had family assistance in 2023, […]
The UK High Court has given the green light to a plan to return client money and custody assets of wealth manager WealthTek. Justice Rajah in the High Court of Justice approved the Joint Special Administrators (JSAs) plan for this action to take place. This follows action taken by the FCA last year to protect […]
Several big tech companies have banned unregulated individuals from sharing financial ads on their platforms following a crackdown by the FCA. Google, Bing, Meta, X (formerly Twitter) and TikTok have altered their advertising policies to ensure only people and firms that are FCA-authorised can promote financial products. The regulator said the changes were a result […]
India is likely to be the second-largest contributor to global economic growth after China over the next five years, as it has gradually opened its economy to foreign investors, according to Frédérique Carrier, head of investment strategy for RBC Wealth Management in the British Isles and Asia. Indian government bonds have also recently been incorporated […]
Last week, Employee Benefits reported that supporting employees with cost-of-living issues was rated as eighth on employers’ corporate agendas, while financial wellbeing was ranked twelfth, according to research by Close Brothers’ Workplace Financial Wellbeing Services.
The future of the state pension has been called into question after an “alarming” new report published today (5 February) revealed the retirement age for UK workers may need to rise to 71 by 2050. The report, from the International Longevity Centre, has been met with concern by the financial services sector – with pensions […]
The Bank of England held interest rates at 5.25 per cent today (February 1) in its first interest rate decision of 2024. It it the fourth month in a row the central bank has decided to keep rates the same. The bank said it will keep interest rates high for long enough to get inflation […]
Former chancellor George Osborne has joined Coinbase’s advisory council as it faces greater scrutiny from financial regulators. The San Francisco-headquartered firm said bringing Osborne (pictured above) onboard was part of its international expansion strategy following its signing of licences in France, Spain, Singapore and Bermuda. Commenting on Osborne’s appointment, Coinbase said in a statement he […]