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Skills Council on brink of closure, say reports

The Financial Services Skills Council has been threatened with closure after Whitehall found it to be incompetent, according to the Financial Times.

The FT says skills secretary John Denham is set to announce today that the Skills Council will have its bid for a new operating licence turned down.

The FSSC has been charged with developing the exam content required for advisers under the retail distribution review.

The FT says Whitehall is likely to give the council a stay of execution by allowing it to continue operating under its old licence until autumn, to give the body the chance to improve.

All 25 sector skills councils had to apply for new licences last year in order to continue receiving government funding after Whitehall found the performance of several to be lacking.


How to beat the Budget

Anyone who thought the Budget was a foregone conclusion was in for a surprise. There were a number of changes from the pre-Budget report and they all looked grim for higher-earners.

Bank announces more quant easing

The Bank of England’s monetary policy committee (MPC) today announced it will increase the size of its asset purchase facility by £50 billion to £125 billion.The announcement followed a vote to maintain the 0.5% interest rate.According to a statement from the MPC, the world economy remains in deep recession, with output continuing to contract and […]

Budget makes zeros look attractive

Zero dividend preference shares (ZDPs) have become a more attractive investment proposition following the recent budget, according to Wins Investment Trusts (Wins).Once the darling of the investment trust industry, the popularity of ZDPs suffered in 2001 because of their connection in the split capital crisis. However, according to Wins the recent proposed increase in the […]


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