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UK economy could face crisis says economist

The UK economy, “currently buoyed-up” on consumer credit, could face a crisis if there was rise in interest rates in the next six months according to economist Dr. Rebecca Harding.

Speaking at the Liberal Democrat Conference in Brighton last night, Harding, who is an adviser to the parliamentary Treasury Select Committee, said consumers have released too much money from the value of their properties to fund spending and that a hike in interest rate could cause “a similar slump” to that experienced in the early 1990s.

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Tiner says life companies are using regulation as an excuse

FSA managing director John Tiner says the suggestion that regulation is standing in the way of the insurance industry is just an excuse.At the annual Chartered Insurance Institute Conference in London last week, Tiner said the FSA has set in place high-level principles that are difficult to argue with.The claim by the industry that the […]

Property freedom for Sipps could transform UK economy, says Ritchie

Allowing Sipps to invest in residential property could be as significant a policy move as Margaret Thatcher&#39s decision to sell council properties to tenants in the 1980s, says pension guru Stewart Ritchie.Speaking at Money Marketing Live in Manchester this week, Scottish Equitable director of pensions development Stewart Ritchie said if rumours that the Inland Revenue […]

New Winterthur sales director

Winterthur Life UK Limited has appointed a new director. Former Winterthur Life head of individual sales David Thompson has been promoted to sales director, with responsibility for Winterthur&#39s distribution in the UK market.Winterthur Life chief exectuive Mike Kellard says: “David has made a tremendous impact on the company&#39s sales strategy over the last four years. […]

Regulation biggest issue says CII poll

Regulation is the most urgent issue facing the UK insurance industry as a whole according to an online poll carried out at the Chartered Insurance Institute conference currently being held in London. The poll of its members showed regulation was of most concern at 23 per cent, followed by the compensation culture at 12.3 per […]

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