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Ship wants state scheme statement

Safe Home Income Plan chairman Jon King has challenged the Government to provide greater clarity on its views on the future of the equity-release market.

King’s call comes after Money Marketing revealed last week that proposals are being drawn up by consu- mer group Which? to be presented to the Treasury for the establishment of a state-run equity-release scheme.

MPs attacked “misleading” equity-release ads in Parliament last week and King wants the Government to say whether it supports equity-release as a means of funding retirement income.

He says: “We want their position to be made clear on whether equity-release should be brought into the mainstream. We have a vibrant private sector so it would be beneficial for the Government to come out and say whether they support the market.

“The idea of a state-run scheme was floated at the Labour party conference a couple of years ago but we have heard nothing since.”

The Treasury refuses to comment on the market or on the possibility of laun- ching a state-run, not-for-profit scheme. It first wants to see the research from Which? which is expected later this year.


Hutton pledge on incapacity reforms

The Government has published its Green Paper on incapacity reforms, with Work and Pensions Secretary John Hutton telling the Commons that he aims to get one million claimants off benefit and back to work over 10 years.

Plain accolade for IFAP guide

IFA Promotion has been awarded a Plain English Campaign Award for its consumer guide Financial advice: The buzzword is independent. The guide, aimed to clear up any confusion surrounding financial advice after depolarisation, topped the 2005 Plain English category as one of the years clearest documents.

Plain accolade for IFAP guide

IFA Promotion has been awarded a Plain English Campaign Award for its consumer guide, Financial Advice: The Buzzword is Independent.

Hughes heads HSBC multi team

HSBC Investments has poached James Hughes and Nicholas Pothier from Axa Investment Management to beef up it multi-manager team. Hughes will head the team with Pothier joining as a portfolio manager.


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