Rather grim news as the Institute for Fiscal Studies suggests that higher mortgage rates have pushed an extra 320,000 into poverty, reports FTAdviser.
The report points out that official data does not measure mortgage interest payments “properly” and so official poverty statistics will only capture about two-thirds of those affected, or 230,000 people.
Clearly rather a lot for the Bank of England and Treasury to be thinking about regarding base rates and who is impacted. In other words, it can feel like extreme pain for a relatively small group of people rather than the broader population.
No obvious answer, however.
Quilter may have to pay remedial costs after it was one of 20 large firms the regulator wrote to following concerns over ongoing charges for customers. This has been disclosed in its recent results, again as FTAdviser reports.
It is clear that firms need more robust processes to ensure clients are getting the meetings clients are entitled to and paying for. Talking to advisers, however, it does feel as if the practicalities are quite challenging. It may well have implications for guidance as well. Is it better to have some contact rather than none.
The Chancellor Rachel Reeves is to address the £20bn black hole in the public finances this week as Professional Adviser reports.
She is promising to 'fix the mess', with a statement to the House on Monday.
A lot of eyes are on capital gains tax.
The Telegraph suggests that CGT could be brought into line with income tax though it is unlikely the Chancellor would telegraph that before any full Budget.
Is the era of unbundling over in the UK?
The FCA has confirmed new rules that give asset managers “greater freedom” in how they pay for investment research, which the regulator believes will ultimately benefit investors, as Money Marketing reports.
The rules will allow the “bundling” of payments for research and trade execution, which has the aim of improving competition in the market.
Competition is a word certainly bundled up with lots of policy shifts, these days.
Adviser Nicholas Platt called out unregulated Birmingham firm Shakur Investments when it sponsored a business awards ceremony in February last year, but the regulator is only now warning investors against the firm as New Model Adviser reports.
A sorry tale.
