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Pre-budget – Isa extension not far enough

Trade bodies and IFAs have welcomed the Government’s plan to extend Isa limits until 2009 but want further measures to increase savings.

In his pre-budget announcement Gordon Brown has agreed to consult on extending the existing 7,000 tax-free Isa limit for another five years, to 2009.

While everyone has welcomed the move, a number of groups want the reduction in Isa limits to be scrapped altogether.
Director of IFA PSFM John Hamilton-Hunt thought that the chancellor should have gone further.

While the Association of Investment Trust Companies and the Building Societies Association through that more work needed doing on Isas.

Hamilton-Hunt says: “The government should have taken the opportunity to introduce long-term incentives to save with a retirement Isa in which savers could set aside 7000 each year in a tax advantaged vehicle.”

AITC director general Daniel Godfrey says: “The Government still needs to provide sufficient support and resources to financial education.”


Watchdog looms over statements

Independent and tied advisers will have to provide clients with a statement of demands and needs for protection policies sold from January 14, 2005.

Is volatility dead? No, sell credit

There are several arguments that one could currently make for why credit markets look unattractive. These include signals that the US economy is in late cycle, the fact that corporate leverage has been increasing (with 2016 setting a record for the amount of global bond issuance), and that US high-yield default rates have risen considerably […]


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