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King called on to back British economy

Alexander Hall chief operating officer Andy Pratt is calling on Bank of England governor Mervyn King to show solid support for the UK economy.

Pratt says the financial markets are getting little backing from the Bank of England or the Government, with King notable by his absence from the public eye.

He says: “Where is Mr King? I am pretty sure that the previous Bank of England governor would have been out there in the public eye, pushing the positive points and making speeches.”

Pratt adds that the Bank of England needs to pump more funding into the market to ease the current pain.

Highclere Financial Services partner Alan Lakey says: “King’s only obligation to the Government is to ensure that inflation is in a certain parameter. That is the weakness of giving the Bank of England independence.

“King has shown that he is not an interventionist and believes in markets following their own course.”


GE Money cuts BTL rates by 0.45%

GE Money has cut its buy to let rates by up to 0.45 per cent.It has cut its two and three year fixed rates by 0.30 per cent and its five year fixed rates by 0.45 per cent.Its tracker rate has been reduced to 6.54 per cent.The lender has also withdrawn its Simply Rental 85 […]

Positive Solutions’ Reeve joins Aifa council

Positive Solutions chief executive Jim Reeve has been co-opted to the Aifa council.He replaces Alexander Forbes managing director Tim Morgan, who is moving to South Africa. Reeve joined Positive Solutions as chief executive in September 2007.He worked for Barclays as managing director of its financial planning arm and before that he was with the Zurich […]

Invesco boosts AJ Bell stake

Invesco Perpetual has pumped a further £9.4m into AJ Bell, valuing the business at £107m.Invesco’s stake in the Sipp provider is now around 23 per cent.In February 2007, Invesco and Midas Capital bought £14m of shares in AJ Bell, with Invesco taking a 15 per cent stake and Midas increasing its stake from 12 per […]

Directors, limited liability partners and auto-enrolment

By Jim Grant, Senior Product Insight & Technical Support Analyst 6 April 2016 brought in changes to employer duties for directors and partners in limited liability partnerships. Here we explain exactly what’s changed. Before 6 April 2016… Directors of limited liability companies where there were no other directors or employees were exempt from the employer […]


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