National Savings wields the axe

National Savings has slashed its interest rates for savers

National Savings rate to drop sharply from 24 November. At times, National Savings & Investments (NS&I) looks like a relic. Its role in raising money for the government has seemed an increasing anachronism for three main reasons: The amount NS&I raises each year is but a small part of the government’s total borrowing. For 2020/21,…

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Triple lock survives – for now

The triple pensions lock remains for another year

The government has acted to ensure state pension increases can happen next April.  The Basic State Pension (BSP) and the New State Pension (NSP) – for anyone who reached State Pension Age after 5 April 2016 – are both subject to the ‘Triple Lock’ measure. This means that every April these two pensions increase by…

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Another Autumn Budget deferred

The Autumn Budget has been deferred until Spring because of the covid crisis

After heavy hinting from the Treasury for some weeks, the expected Autumn Budget has been pushed into spring 2021.  Since the March Budget and through to August, the expectation was that the Chancellor, Rishi Sunak, would introduce his second Budget this autumn. Such timing would have restored the cycle of a Spring Statement followed by…

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Market update: a quieter quarter

Quiet Market A quiet 3rd quarter

The third quarter of 2020 saw share markets calmer than in the previous two.  For many, 2020 has not been a year they will want to remember. For investors, the first two quarters were a whiplash experience. For about a month from mid-February, Covid-19 pushed share markets down with a brutal abruptness. By the time…

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The Chancellor’s Winter Economy Plan

Rishi Sunak anoures a winter economy plan

The latest pandemic support measures are much less generous than before.  As the country braced for dealing with further localized outbreaks of Covid-19, the Chancellor made an early autumn appearance before the House of Commons to announce his ‘Winter Economy Plan’. He announced new employment support and amendments to existing schemes.  Job Support Scheme (JSS)  The…

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