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NI threat to private health care

Private medical insurance provided by employers faces a threat under National Insurance changes to be introduced in April.

Employers are to pay NI contributions of 12 per cent on PMI benefits provided to their staff, causing a potential re-think at many large companies.

Leader of the Opposition William Hague is calling the government to review the tax change arguing it will “punish” those who make their own healthcare provision.

Health and risk practice Towers Perrin consultant Greg Clarke says: “This is a major worry for quite a number of companies, particularly as it is in addition to insurance premium tax, which is five per cent.”


CML predicts &#39bidding&#39 war

The Council of Mortgage Lenders is claiming next week&#39s mortgage regulation announcements will lead to a regulations “bidding” war.Economic secretary to the Treasury Melanie Johnson is set to announce the government will only regulate home loan advice, with the loans themselves to be covered by a voluntary standard.The CML is concerned rivalries between the Treasury […]

Our mutual friend attracts growth

Mutual building societies&#39 performance in the savings market was up in December, according to the Building Societies Association.While actual net advances were down to £543m in December from £636m in November, the seasonally adjusted figure was the highest for six months.Building societies pulled in £471m from the savings market in December, up from £458m in […]

Hi-tech bond boost

The net asset value of Witan grew more than 32 per cent in 1999, partly as a result of investing in technology stocks.By the end of 1999 net profits stood at £2.09bn, while shares were boosted from 1998&#39s share price of 423.9p to 560.7p.Witan is an international generalist trust, but has nearly one third of […]

NatWest last gap fight for survival

National Westminster Bank is making its final defence arguments as it takes its last chance to fend off hostile bids from Royal Bank of Scotland and Bank of Scotland.The bank is unveiling its estimated profits for 1999 one month early in a bid to convince shareholders its new management team can take the bank further […]


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