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Budget kick in the teeth to savers says West Brom

West Bromwich Building Society chief executive Andrew Messenger called today&#39s Budget a kick in the teeth to millions of hard pressed savers and borrowers.

He said the 20 per cent rate of tax on savings, deducted at source, serves only to punish and discourage those who save. He says; “We want to see this tax abolished now. This would be an important first step to encourage the 13 million Britons the Government already says aren&#39t saving enough.”

He believes failure to address this issue is creating a savings timebomb.


Strutt offers low entry to property

STRUTT & PARKER REAL ESTATE FINANCIAL SERVICES Sprefs Commercial Property Fund Type: Closed-ended fund Aim: Growth and income by investing in UK commercial property Minimum investment: Lump sum £15,000, Isa £3,000 Investment split: 19.7% industrial, 25.3% offices, 55% retail Place of registration: Dublin Charges: Initial 5%, annual 1.25% Commission: Initial 3% Tel: 0870 420 5511 […]

Annuity site gets boost

IFA William Burrows Annuities is upgrading its website to provide annuity information. Director Billy Burrows says features the latest annuity rates and a personal annuity calculator. It also provides advisers and individuals with historic annuity rates so they can see how rates have changed over the last 18 months. Users can download Countdown to […]

Intermediaries call for carrot rather than stick

Intermediaries are calling for the Treasury to use “a carrot rather than a stick approach” to bring in Miles&#39 recommendations, allowing lenders to make their own decisions over who has access to their products. Charcol senior technical manager Ray Boulger wants to see lenders forced to be more transparent about their policies but he does […]

£118bn liabilities in closed companies – KPMG

Run-off cover of closed books made up 14 per cent of liabilities of all UK life insurers in 2002 up from 8 per cent in 2001 according to a survey by KPMG LLP (UK). The research shows UK life insurers that had closed to new business had £118bn in liabilities in run-off at the end […]


Natixis Global Asset Management’s quarterly Portfolio Barometer offers insights into UK financial advisers’ model portfolios and the allocation decisions they are making. Natixis’s Portfolio Research & Consulting Group works with financial advisers and other intermediaries to analyse and enhance their model portfolios and help them develop investor portfolios suited to today’s complex markets. The Portfolio […]


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