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Chancellor’s fears could delay Reits

The Conservatives have warned the Government a commitment to introduce Reits is needed in the pre-Budget report to ensure that the UK is not left behind other countries.

Shadow Paymaster General Richard Spring says the Government appears to have a “mental block” on real estate investment trusts and there is no reason for a delay, especially when the Treasury is implementing radical new Sipp rules.

Industry speculation suggests Reit proposals may be left out of the pre-Budget report due to the Chancellor’s concerns about loss of tax revenues.

Treasury Economic Secretary Ivan Lewis told Money Marketing in September he was personally committed to making rapid progress and is “very hopeful” Reits will be included in December’s report.

Spring says: ” The Government seems to have a mental block and the country is losing business because of this delay. The Treasury is bringing in some very radical ideas with Sipps but on simpler things such as Reits it appears to be fudging the issue.”


YBS targets Huddersfield Town fans with new deal

Yorkshire Building Society is offering Huddersfield Town fans a free season ticket and a signed shirt with their mortgage.From Saturday, 26th November, supporters who are either looking to move home or just move their mortgage can take out the new Terriers Mortgage and take home next years season ticket and a new Terriers shirt, signed […]

Multi-manager View: Don’t miss the BRIC boat

By 2015, there will be more than a billion new members of the middle class in Brazil, Russia, India and China, according to the World Bank, yet most investors with any kind of global equity exposure are missing the boat when it comes to capturing any of that growth.

Standard in wrap deal with First NZ Capital

Standard Life is to launch its wrap offering in the early part of 2006 after signing a joint deal with First NZ Capital.The provider says it is in the final stages of development with full details to be unveiled as the company rolls out the proposition to advisers from next year.Standard Life UK & Europe […]

India Election Update

What a difference six months makes. Speaking in September last year, we had warned of ‘excessive pessimism’ afflicting the market’s perception of India. Since then, responsible central bank policy from the Reserve Bank of India (RBI), alongside improving global growth, has meant that India’s macro environment is strengthening quickly. The current account deficit has shrunk, inflation is falling and the government has embarked on a heavy dose of much needed fiscal consolidation. As a result, the rupee has been one of the strongest global currencies this year while the market has touched all-time highs, rallying by more than 20 per cent (GBP) since September. This begs the question: are we now in a period of ‘irrational exuberance’? Not yet.


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