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LibDems plan to axe higher-rate relief

Liberal Democrats backed plans to scrap higher-rate pension tax relief and raise the inheritance tax threshold at their Brighton conference this week. LibDems also want a 4p cut in the basic rate of income tax and a reform of housing stamp duty.

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US federal reserve cuts rates to 4.75 per cent

The US central bank has made the move to cut rates to 4.75 per cent from 5.25 per cent amidst the sub-prime turmoil.New Star Asset Management chief economist Simon Ward says: “The Federal Open Market Committee’s decision to lower the Fed funds and discount rates by 50 b.p. represents a bold attempt to forestall the […]

Pensions reach breaking point

Leading pension consultants Malcolm Small and Ros Altmann say the UK pensions sector is no longer fit for purpose and is in urgent need of a radical overhaul.Small, editor of The Pensions Report 2007 due for release in October, says this year’s report shows the pension crisis is steadily worsening, with ever-increasing numbers of consumers […]

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