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David Gauke replaces Nicky Morgan as Treasury financial secretary

David Gauke has been appointed financial secretary to the Treasury, replacing Nicky Morgan who has been promoted to Education Secretary in today’s Government reshuffle.

Gauke is MP for South West Hertfordshire and was previously serving as exchequer secretary to the Treasury. He will be replaced in that role by Priti Patel, MP for Witham and previously a member of the public administration committee. She continues to serve on the members’ expenses committee.

Former Education Secretary Michael Gove was told last night he would be moved from the Education Secretary role and is now Commons chief whip.

Morgan will continue in her role as minister for women and equalities.



PRA chief issues warning over rising mortgage terms

Prudential Regulation Authority chief executive Andrew Bailey has raised concerns about lengthening mortgage terms, warning the trend could cause borrowers problems if their income falls in retirement. Addressing a Treasury select committee hearing this morning, Bailey said if mortgage terms continue to increase people could be put in a position where they are still paying them […]


FSCS widens net in Keydata legal battle

The Financial Services Compensation Scheme is seeking to make firms with claims against them of between £100,000 and £150,000 test cases in its legal battle with advisers over Keydata. At a case management conference in London today, an order by FSCS lawyers Herbert Smith Freehills was approved which will mean firms with claims of between […]


FCA chief: We do not like the phrase ‘regulatory dividend’

The FCA does not like the phrase “regulatory dividend” and believes all firms must pay their share of regulatory costs, says chief executive Martin Wheatley. Speaking at the FCA’s annual public meeting in London today, Wheatley said the phrase is “banned from our lexicon”. Apfa has repeatedly called on the FCA to deliver a regulatory […]


A new dawn for India?

After the recent strong run in Indian equities, is it now time for investors to take profits? Or do India’s new prime minister Narendra Modi’s plans for economic reforms hold the potential for longer-term investment opportunities? India has been a good place to be invested in 2014 – in fact, it has been the best-performing […]


The Brunner Investment Trust – April 2017

Welcome to the latest update for The Brunner Investment Trust PLC from the Trust’s portfolio manager, Lucy Macdonald. Market Review Global equities have rallied over the first quarter of 2017, buoyed by signs of strengthening growth and optimism over company earnings, although this rally has faded towards the quarter end. US equities posted their strongest […]


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There is one comment at the moment, we would love to hear your opinion too.

  1. This will not be to the advisers advantage.

    This man is my own MP and when I approached him with concerns about the consequences of the RDR his wise counsel extended to the following comment, “I will never go against the party line”.

    Seems like he qualifies for a job as Chief Ombudsman.

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