ISA changes to be government priority in 2025 says AJ Bell boss Investing AJ Bell’s boss has said that ISA simplification is expected to be a priority for the government next year. “My understanding is that in 2025 we’ll see some progress on ISA simplification, and we’ll look to engage with government as part of that,” said AJ Bell CEO Michael Summersgill. There had been anticipation of a shakeup in [...]
Public spending to ‘boost growth’ next year, but inflation also set to spike Economics In its latest economic outlook, the Organisation for Economic Co-operation and Development (OECD) projected that growth would pick up to 1.7 per cent in 2025.
FCA softens ‘name and shame’ plans after City backlash The Financial Conduct Authority (FCA) has softened its controversial ‘name and shame’ plans and will take into account the damaging impact the proposals could have on companies, after furious backlash from the City and Westminster. In a statement today, the watchdog said it would set out plans for “further engagement” after its initial plans triggered [...]
Has Rachel Reeves talked the UK economy into a downturn? November 15, 2024 The economy expanded just 0.1 per cent in the three months to September, below expectations and down from a 0.5 per cent expansion in the previous quarter.
Reeves warns financial regulation has gone ‘too far’ in pledge to unleash the City November 14, 2024 The Chancellor Rachel Reeves warned that financial regulation had “gone too far” last night as she pledged to rip up red tape and put the City watchdogs on a growth footing. In her maiden Mansion House speech in the Square Mile, Reeves said that regulatory measures brought in since the financial crisis in 2008 have [...]
Why Rachel Reeves’s pension reforms might not be as ‘radical’ as she thinks November 14, 2024 While her changes may constitute the biggest overhaul of the pensions sector in decades, some in the City say the truly radical option remains firmly in the back pocket.
Let’s be honest… our pensions are not for politicians to play with November 14, 2024 The point of a pension is to provide the best possible retirement income for the individual, not to invest in Reeves’ favoured projects, writes Matthew Lesh.
Inside the ‘arms race’ for a private stock exchange – and why it’s dividing the City November 13, 2024 At a private workshop at the London Stock Exchange in September, a room full of investors and City bosses were split into separate groups and told to talk among themselves. Spread among them were officials from the Treasury, the Financial Conduct Authority and the London Stock Exchange, scribbling down the thoughts of those in attendance [...]
Strong governments must be prepared to upset the markets (a bit) November 12, 2024 The bond markets are a potent opposition, but governments must be prepared to take risks if they are ever to reap rewards, says Charles White-Thomson With a large majority and an election years away, the Prime Minister and Chancellor likely don’t feel the need to worry too much about what the electorate think. But one [...]
What the City of London wants from Reeves’s Mansion House speech November 12, 2024 Treasury officials have been hitting the phones to City firms over the past two weeks as Rachel Reeves prepares to deliver the government’s annual Mansion House speech to the financial services sector. The backdrop is a fractious one for the Chancellor. While the Labour party built cordial ties with the Square Mile in the run [...]