View more on these topics

Conservatives vow to ease tax and regulation to aid small businesses

The Conservatives are pledging to ease the burden of tax and regulation as part of their small business manifesto, launched this week.

The pledge comes despite a call by the party for all retail financial products and services to be regulated by the FSA as part of its financial services manifesto.

The financial services document also commits a future Conservative Government to an independent review of the Financial Services and Markets Act and the FSA in 2004.

FSA rules would be submitted to a cost-benefit analysis and the FSA would be required to have its own deregulation unit.

The small business manifesto details how Labour has imposed £33.9bn of taxes on business since 1997, including £50m on life insurance companies, £480m from IR35, together with abolition of dividend tax credits.

The Tories would also introduce a committee of economic advisers to provide independent advice to Government.

Michael Philips proprietor Michael Both says: “Cost-benefit analysis of FSA rules is an excellent idea.

“The concept of a single regulator is not a bad idea and not contradictory.”

Pretty Technical partner Kim North says: “This would move us closer to the American market. We are still waiting for N2 and then it will still take some time for the new regulator to settle in.

“Any review should not be for a year or so after. A single regulator is a good idea and would enable the same consumer protection across different products.”

The FSA was not available to comment on the proposals.

Recommended

FPS Group launches pension administration website

Pension scheme and administrative services provider FPS Group is launching an internet platform to enable employers to administer pensions online.The platform allows employers to update, monitor and pay into a stakeholder scheme via the internet. Employees will also be able to access details of their pensions online.FPSS Group chief executive Richard Stirrup says: “With the […]

Leeds & Holbeck increases Step-up Saver limit

Leeds & Holbeck Building Society is increasing the maximum balance on its Step-up Saver account from £5,000 to £10,000 following strong customer demand.The account offers a fixed rate of 5 per cent until September 2002, then 6 per cent until June 2003, and allows one withdrawal without notice or penalty.Leeds & Holbeck head of marketing […]

IFAs increase share of life protection market

New sales of life assurance policies increased by 25 per cent to 1.37m in 2000 from 1.1m in 1999, according to figures published by Swiss Re Life & Health.IFAs increased their share of the life protection market to 40 per cent in 2000 from 32 per cent in 1999. Swiss Re Life & Health UK […]

Private Label introduces convertible mortgage

Private Label has introduced the tracker fix mortgage with a difference.The mortgage has a fixed rate of 5.79 per cent for the first five years of the mortgage for loans of up to 95 per cent of valuation, with a maximum loan amount of £150,000. However during the five-year fixed rate period if the borrower […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com