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Budget offers nothing for savers- Invesco Perpetual

Brown&#39s eighth budget is not a budget for savers and fails to offer any significant incentives according to investment house Invesco Perpetual.

Pep and ISA provider Invesco says with no specific reference to ISAs included in the proposals it is not clear what the Government intends to do, so the industry has been left to assume the worst for savers and investors in the UK.

Invesco head of distribution Mike Webb says: &#39This is not a budget for savers, it offered no new incentives to encourage people to provide for their future and no reassurances about ISAs. This means that investors have nothing to look forward to but the abolition of the 10 per cent tax credit on dividend income in just 19 days and the ISA allowance reduction from £7000 to £5000 in 2006.”


HSBC – Performance Plus Isa 25

Type: Capital-protected Toisa Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-£9.000 Term: Five years Guarantee: Original capital returned in full regardless of performance of index Return: Up to 100% growth at end of term Closing date: May 7, 2004 Commission: Initial 2% Tel: 0800 181890

IFA warns against Brown&#39s IHT pledge

The Millfield Partnership investment specialist Anthony Clements welcomes the rise of the inheritance tax band to £263,000 but warns the Chancellor is underestimating the number of estates that will be affected by IHT. Clements says: “Although the move does not reflect, nor has it done in previous years, the rise in people&#39s wealth and in […]

Gaskin leaves board as Interlink discusses sale

Directors at Interlink Premier Network are believed to have moved to reassure their members that they are not winding up the firm and are in negotiations with a potential buyer for the business. Money Marketing understands that, following concern by Interlink advisers, directors have this week told them that a deal is being discussed. Interlink […]

Advisers back shift to culture of advice first, commission second

IFAs say they support the Treasury select committee&#39s criticism of the current remuneration structure in the long-term savings industry and agree that a cultural shift towards advice first and commission second is needed. John Scott & Partners investment manager Patrick Connolly says he believes any advice that can be biased by commission is detrimental to […]


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