Economic Review April 2019
STOCKPILING BOOSTS UK ECONOMY The UK economy grew more strongly than expected in February as ‘pre-Brexit’ stockpiling provided a boost to the monthly rate of economic growth. Official gross domestic product (GDP) data released by the Office for National Statistics (ONS) has revealed that the economy expanded by 0.2% in February. While this does represent […]
Property Market Review
PRIME LONDON PROPERTY INVESTMENT RISES BY 28% IN Q1 2019 London’s West End and the City welcomed investment of £3.2 billion in the first quarter of 2019, which eclipsed the £2.5 billion investment seen in the same quarter of 2018, according to data released by Savills. They went on to add that investment volumes in […]
Over-55s feeling the pinch from being the ‘bank of mum and dad’
The Bank of Mum and Dad plays a major role in the housing market but providing support could leave them feeling the pinch as they approach retirement. Recent research1 found that 17% of parents felt they either would be, or already are, worse off as a result of providing financial assistance to loved ones. It […]
Economic Review March 2019
INTEREST RATES REMAIN ON HOLD The Bank of England (BoE) has once again left interest rates unchanged while reaffirming its belief that near-term monetary policy will remain inextricably linked to Brexit. All nine members of the Monetary Policy Committee (MPC) voted to leave rates on hold following their latest meeting on 21 March. This marks […]
Time to top up your ISA?
If you’re planning to save into your ISA this tax year, don’t leave it too late and miss out on this great way to save tax-efficiently; remember you can’t carry any unused allowance over to the next tax year, so timing is important. The ISA allowance for the 2018-19 tax year is a generous £20,000 […]
Property Market Review March 2019
COMMERCIAL CONSTRUCTION DECLINES AT THE START OF THE YEAR The latest ‘IHS Markit’s Purchasing Managers’ Index’ reports that commercial building work in the UK has fallen for two consecutive months, ending ten months of expansion. This tailing off in construction output was led by falling demand from businesses, forcing the reduction in civil engineering and […]
Number of working women aged 60-64 has doubled
Employment statistics show that more women are staying in the workplace for longer, with 48.5% in this age bracket in employment1, compared with just 23.4% back in 1998. This is attributed variously to the short-notice rise in the state pension age from 60 to 65 or 66 currently affecting many women born in the 1950s, […]
Spring Statement 2019
Chancellor of the Exchequer, Philip Hammond, stood up in Parliament at 12.43pm on Wednesday, 13 March, to deliver his second Spring Statement at an inauspicious time following the House of Commons’ dramatic rejection of the Government’s Brexit deal the previous evening. He commented that: “Last night’s vote leaves a cloud of uncertainty hanging over our […]
Economic Review February 2019
MPs SECURE NO-DEAL BREXIT VETO With less than four weeks until Brexit day, parliamentary gridlock means it remains unclear whether the UK will leave the EU as scheduled, or whether the Brexit process will be postponed, or even completed at all. Although the Prime Minister continues to state her commitment to leaving the EU as planned […]
Economic Review January 2019
ECONOMIC GROWTH STRONGER THAN EXPECTED The UK economy showed signs of resilience during the final quarter of 2017 recording a higher than expected rate of growth, although Brexit concerns still weigh on economic prospects. Official data released by the Office for National Statistics (ONS) suggests that gross domestic product (GDP) rose by 0.5% in the […]