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At last, some good news for IFAs from the Chancellor

It was a Budget about insurance. National Insurance, that is. Chancellor Gordon Brown unambiguously ruled out private medical insurance and social insurance to pay for an improved health service, bunging a penny on National Insurance to provide an extra £8bn for the NHS.

To ensure the billions will be spent properly, there will be yearly NHS audits. Luckily, as Brown was giving his speech, beleaguered auditor Andersen announced it is shedding 30 per cent of its UK workforce – a ready pool of labour, then.

Go forth and procreate was the family-friendly sentiment of the Budget. To this was added another message to resonate with the more mercenary advisers as consultation on polarisation draws to a close – go forth and flog your businesses. It seems the only thing the Chancellor has done for IFAs it is to make it easier to sell their businesses by changing capital gains tax.

Then William Hague, oops, Iain Duncan Smith stood up for the unenviable job of responding blind to Brown.

IDS gave the clearest proof that he is not regulated by the FSA, saying that, with the Chancellor, “like the markets, past performance is a guide to future performance”.

Blair, Blunkett and Brown were uncomfortably shoehorned together on the Commons&#39 cramped benches, their suits giving off sparks that did not speak of mutual affection. Now, the three Bs softened into studious bonhomie. It was only the previous day that Blunkett referred bitterly to the Chancellor as the “money god”. It is now for the country to decide.



This year&#39s pre-Budget speculation was focused mostly on how the Chancellor would pay for the expected increased expenditure on the National Health Service. National Insurance was a big favourite and those who &#34backed&#34 this were proved substantially right. But it was not just National Insurance changes that the Chancellor told us about. What follows are […]

Investlife bond splits across 10 sectors

Investlife Luxembourg has unveiled the higher income and growth bond, an offshore bond that is linked to the performance of 10 sectors across Europe, including the UK.The bond has a four-year term and is linked to banks, en ergy, healthcare, chemical, media, insurance, technology, telecommunications, automobiles and food & beverage sectors. It offers investors the […]

Old Mutual Fund Managers – UK Select Large Cap Fund

Tuesday, 16 April 2002 Type: Unit trust Aim: Growth by investing in FTSE 100 and mid cap companies Minimum investment: Lump sum £1,000, monthly £50 Investment split: FTSE 100 90%, mid cap companies 10% Isa link: Yes Pep transfers: Yes Charges: Initial 4%, annual 1.25% Commission: Initial 3%, renewal 0.5% Tel: 0808 1002715

New call centre for Virgin

Current account mortgage lender Virgin One is creating 300 new jobs with the opening of a banking service centre in Horwich, Lancashire.The office will provide customer services for Virgin One&#39s 82,000 account holders and provide back-up to the company&#39s main operation in Norfolk.Virgin says it expects to recruit 40 people in a variety of jobs, […]


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