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Oil and food price rises could force fiscal rethink

Rising oil and food prices are the biggest factors that could force the Government to deviate from its fiscal policy, according to the Office of Budget Responsibility.

Giving evidence at a Treasury select committee session this week, OBR member Stephen Nickell said: “The biggest risk to the inflation forecast is if oil prices and food prices keep rising faster than the average rate of inflation. If oil prices cont-inue to move up, then inflation will be higher in our forecast and under the assumption, which I think is reasonable, that wages do not adjust to this, then real wages will fall, consumption will fall and growth will be lower.

“That, in some sense, is the worst of all possible worlds because we have higher inflation and lower growth as a consequence of this, which mean the difficulties facing the MPC are of a very high order.”



FSA to increase FOS levy by £25m due to PPI review

The FSA has approved a £25m industry levy increase to allow the Financial Ombudsman Service to boost its reserves to deal with an expected surge in payment protection insurance complaints. The levy will apply to firms under the FOS’ “compulsory jurisdiction” which the FSA defines as firms authorised and registered by the FSA, including those […]

David Shelton, Author, The Business of Advice Published by TaxBriefs

Just rewards

With many businesses taking new directions in the face of the retail distribution review, it could also a good time for a business to take a fresh look at their adviser and support staff reward strategy


Plutus taps into a wealth of knowledge

Plutus Wealth was established in 2008, aiming to bring something new to an industry that – fairly or unfairly – has had a reputation for being slow to change. It aimed to attract a new generation of clients while retaining its existing client base. This meant presenting a fresh and modern approach – no mean […]


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