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Inflation increases to 2.2 per cent in January

CPI annual inflation increased to 2.2 per cent in January, up from 2.1 per cent in December.

The Office of National Statistics says the largest upward pressures came from a 1.3p increase in the average price of petrol and food prices which fell by less than last year.

Liberal Democrat shadow chancellor Vince Cable says the figures show the Bank of England is “hamstrung” by high inflation in its attempts to cut interest rates and boost growth.

He says: “It is now very clear that we will not get the interest rate slashing that occurred in the USA leaving many people struggling to repay debts and increasing the likelihood of big falls in the housing market.

“The Bank of England is clearly hoping that we will see a fall in inflation in the next 12 months but while high oil and food prices and rising wages continue to push it higher there is a real danger we will end up with a stagnant economy with high inflation.”


High-street lenders pass on base rate cut

Nationwide has cut its standard variable rate by 0.25 per cent and claims it now has one of the lowest SVRs of the major high-street lenders.The move came after the Bank of England monetary policy committee lowered bank base rate from 5.5 to 5.25 per cent last week.Nationwide, Woolwich, Halifax, Lloyds TSB, Alliance & Leicester […]

Consumer confusion

I am not sure why David Elms thinks that the Forum for Fee Based Advice service is being offered prematurely. What we are trying to do is simply respond to market forces by matching the increasing number of consumers seeking a fee-only adviser with those adviser firms that have already made the switch to a […]

Business pleas for help to set up firms

Advisers have welcomed Tory proposals to reduce corporation tax and reinstate taper relief for capital gains tax, claiming current tax and regulatory systems are pushing entrepreneurs out of director Ashley Clark says tax changes are essential if the Government wants to encourage the many disillusioned entrepreneurs to continue setting up businesses. He says: “The […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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