There is something of an economic crisis being prompted by the war in the Middle East and unfortunately, it feels as if the UK is regarded as uniquely vulnerable to inflation pressures by bond markets.
Gilt yields have risen significantly.
This analysis from consultancy RSM, in its 'the Real Economy blog' is very good at pointing out why. It suggests it's a mixture of reliance on gas to set broader energy prices, relatively strong wage claims and the state of the public finances.
Far from ideal.
Just to add to the cheer, the International Energy Agency has warned that this could be the worst global energy crisis in history.
The Treasury is on track to raise £7.7bn from IHT in the first 11 months of this financial year as Money Marketing reports. It should easily surpass the record for a year of £8.3 billion, and, as advisers know very well, it’s likely to rise further in 2027 as pensions come fully into the IHT regime.
Big news on the Financial Ombudsman Service front - the government has confirmed a 10-year limit on cases sent to FOS as FTAdviser reports.
The “real test” with reforms to FOS will be the ability to deliver consistency without losing “common sense”, according to Roxton Wealth practice and principal and IFA, Nouran Moustafa, again reported in FTAdviser. The website also warns that the changes to the redress system could weaken protections for fraud victims. Nice package of coverage.
Citywire New Model Adviser reports that analyst Deutsche Numis has calculated that AJ Bell derives 47% of its revenues from interest on cash.
The FCA will simplify rules on personalised advice, potentially expanding access for consumers while reducing complexity for firms. FCA CEO signalled the move in a speech last week, reported by Corporate Adviser.
