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Christmas will be paid from savings not credit

More parents will use their savings than credit to pay for Christmas, according to a survey by Leeds & Holbeck Building Society. And a third of parents will shell out more than £200 on their children, with parents in Scotland the most generous in the country. A third of the sample over the age of 55 said they had invested money as a gift for their children and grandchildren. However, overall, only 17 per cent had opened a savings account for their offspring.

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Anger over commission to look at compulsion

The Government is establishing an independent pension commission to look at compulsion chaired by former CBI director general Adair Turner.The move has been att-acked by Opposition MPs and some IFAs, who claim the Government is trying to bury the issue. The commission&#39s remit will be to make recommendations to ministers although they do not have […]

Davies to quit

FSA chairman and chief executive Howard Davies is to quit after five years in the duo role.Davies will leave the regulator in September 2003 to take up the position of director at the London School of Economics on October 1.Davies 51, was previously deputy governor of the Bank of England and had been tipped as […]

FSA boss&#39 resignation a shame says Consumers&#39 Association

FSA chairman Howard Davies&#39 resignation comes at a difficult time for the regulator according to the Consumers&#39 Association.The announcement he is leaving the FSA next September to become director of the London School of Economics is a shame, says CA director Sheila McKechnie, because the FSA has not found its feet yet and offered adequate […]

A mixed record as &#39industry is left to sort out mess&#39

Howard Davies will leave behind a mixed record when he vacates his seat as FSA chairman and chief executive.Most in the industry are willing to give him credit for bringing together 10 regulatory bodies over the last five years but, equally, many point out that the FSA has often failed to head off or handle […]

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