Posts by Richard Jackson

More people working past 65

Do you want to work into your old age? Do you fancy working past 65? The trend of rising employment levels is not limited to working-age people, according to the latest employment statistics from the Office for National Statistics. The data reveals a growing number of people have working beyond what is still often thought of…

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Tax reform – taking a different view

Proposed tax reform would target FAANS companies

Tax reform has raised its head as a leading think tank has proposed a radical shake up of the UK tax system. The Institute for Public Policy Research (IPPR) is a centre-left think tank that has a long history of influencing Labour Party policy. So, its ideas on tax reform published in the final report…

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Losing interest in cash ISAs

The appeal of the cash ISA is waning

The popularity of cash ISAs is continuing to wane, according to new statistics from HMRC. With inflation persistently above interest rates, it’s not hard to imagine why. The bank of England recently increased the interest rate to 0.75%,but inflation was 2.7% in August 2018. This means, if you are holding cash in an ISA or…

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2018 Budget – trick or treat? Chancellor calls budget for late October

Chancellor Philip Hammond sets a late October date for the 2018 Budget

The 2018 Budget has been set for Monday 29 October, setting a deadline for speculation and proposals. Mr Hammond, however, has indicated that he won’t end the long spell of austerity measures, despite improving public finances. Proposals raised by think tanks and professional bodies include overhauls of income and inheritance tax, ‘pension tax relief simplification’,…

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Life expectancy slows

Life expectancy continues to rise in the UK

A paper published in August by the Office for National Statistics (ONS) casts new light on old age and life expectancy in the UK. Life expectancy has been increasing in the UK for a long time, as our graph shows. In 1980, the average life expectancy at birth was 70.6 years for a man and…

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The record S&P 500 bull run

Bull market

The US stock market set a new record for the longest-ever bull market in August.   Wednesday 22 August 2019 saw the S&P 500 drop – by less than 0.1% – after 3,453 days, making it the longest-ever bull run (a period of rising share prices) for the index, which is used by professional investors’…

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Life expectancy – slowing down our old age

Life expectancy continues to rise in the UK

A paper published in August by the Office for National Statistics (ONS) casts new light on old age and life expectancy in the UK. Life expectancy has been increasing in the UK for a long time, as our graph shows. In 1980, the average life expectancy at birth was 70.6 years for a man and…

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Interest rates creeping up after nine years

Interest rates on the way says The Bank of England

The Bank of England increased the base interest rate in August to 0.75% – the second increase in 12 months. The Bank’s decision to raise the rate to its highest level in nearly nine and a half years was no great surprise to the investment community. Of more interest to the experts were the comments…

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Record inheritance tax revenues ahead of simplification review

Inheritance tax revenues rise

2017/18 produced record inheritance tax (IHT) receipts according to HMRC data published in July. The latest release of the annual statistics revealed IHT produced £5.228 billion for the Exchequer in 2017/18, an increase of two thirds over just five years. As the graph shows, IHT revenue has been rising rapidly since Treasury receipts hit a…

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Student loan interest rates increase

UK Student loans are set to rise

The rates charged on student loans rose at the start of September. The revised terms for interest on, and repayment of, student loans were published in August, along with the A level results for the year. From 1 September, the main interest rates for Plan 2 loans, taken out by students and recent graduates in…

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