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Spring Statement: Inflation to return to target

Chancellor Philip Hammond has used his Spring Statement to reveal predictions that inflation will return to its 2 per cent target over the next 12 months.

The Chancellor today acknowledged inflation, which has been running above 3 per cent, eroding the value of fixed income savings, was above the level the Bank of England attempts to manage it to.

Hammond said real wage growth was expected to run positive from the first quarter of 2018/19, and would be “steady thereafter”.

He also announced estimates from the Office for Budget Responsibility that jobs growth would continue.

Hammond said: “There will be 500,000 more people enjoying the security of an income by 2022.”

“We reject the [Labour Party’s] doom and gloom about the state of the nation…relentlessly talking Britain down.”

Explaining his decision to scrap a full budget in spring and replace it with a slimmed-down fiscal statement, Hammond said this would provide “greater certainty to businesses and families ahead of the financial year”.



Govt rebuffs calls to compensate Waspi women

The Government has rejected calls to compensate women born in the 1950s who have campaigned for an increase to their state pension. Pensions minister Guy Opperman dismissed proposals to hike these pensions as “unaffordable” when he responded to an opposition debate on the issue in parliament yesterday. Opperman went on to add the proposals “cannot […]


Nic Cicutti: Enough is enough with FOS arrogance and incompetence

More disappointment ensues from an organisation that supposedly prides itself on transparency and openness How do you deal with responses from regulators and other official bodies to your queries? Do you find yourself becoming livid with anger at their dismissive tone, yet end up letting it go because – let’s face it – their behaviour […]

Tapering of annual allowance – adjusted and threshold income

The definitions of adjusted income and threshold income used to determine whether, and to what extent, someone’s annual allowance will be reduced can be confusing.  Here we try to make sense of it all. The annual allowance will be reduced for high income individuals from 6 April 2016.  Our previous article Tapering of annual allowance […]


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