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UK growth on target at 2.25 per cent, says Brown

The Chancellor of the Exchequer Gordon Brown, speaking in the pre-budget report, says UK growth will remain at 2.25 per cent this year, at the lower end of the forecast for 2001 made in this year&#39s budget.

Brown admitted that a prolonged downturn in the US was a downside risk but still predicted growth of 2 to 2.5 per cent for next year and 2.75 to 3.25 per cent growth for 2003.


Schroders splits it out

Schroders has unveiled a split-capital investment trust that will be offered as a rollover trust to shareholders of the Schroder split fund when it winds up in January. Ian McVeigh, who is currently responsible for the Schroder split fund, Schroder income growth fund and Schroder income, will manage the new trust on similar lines to […]

Stamp duty abolished up to £150,000 in deprived areas

The Chancellor of the Exchequer Gordon Brown has announced the abolition of stamp duty on houses worth less than £150,000 in deprived areas in his pre Budget report. Prior t the announcement stamp duty was payable on sales of all houses over £60,000. The move, seen as a bid to shore up the housing market, […]

Newcastle capital safe bond closes on Friday

Investors have just three more days to invest in Newcastle Building Society’s Capital Safe Bond.The Bond, which closes on Friday, offers a 100 per cent capital guarantee over the three year life of the investment. Returns are linked to the FTSE 100, Eurostoxx 50 and Nikkei 225 indices, with investors receiving 85 per cent of […]

CML warns FSA rules pose threat to competition

The Council of Mortgage Len-ders has attacked the FSA, claiming it does not understand the mortgage market and warning that its proposals for regulation risk breaching competition rules.CML senior policy adviser Kate Main says the FSA&#39s plans for the new mortgage regime are confused and ill-defined and she renewed her call for N3 to be […]


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