A pandemic closely followed by a cost-of-living crisis has undoubtedly created a challenging financial backdrop for us all and inevitably heightened money-related stress and anxieties. At times like these, it’s more important than ever to open up and talk any concerns through with loved ones or a professional adviser in order to protect both financial and mental wellbeing.
“Our plan for the British economy is working”
On 22 November, Chancellor of the Exchequer Jeremy Hunt unveiled the government’s latest tax and spending plans saying “we back British business” announcing 110 growth measures which he said would boost business investment by £20bn a year. The Chancellor said the government had taken difficult decisions to put the economy “back on track” and claimed, “our plan for the British economy is working.” He also stressed that “the work is not done,” before outlining his package of measures which he said would cut business taxes, raise business investment and get more people into work.
Home insurance offers protection against the most likely things that can go wrong in your home. While we often think of outside threats like theft or fire, a new study1 has shown that more claims result from clumsiness than malice.
Succession, the hugely popular TV show, highlights the complexities of wealth transfer. There’s a lot to think about when passing on your wealth – as well as the risk of family disputes, tax implications need to be taken into consideration.
Residential supply and demand less downbeat
According to the Royal Institution of Chartered Surveyors (RICS) October UK Residential Market Survey, demand is still falling faster than supply.
ESG credentials come to the fore in the industrial and logistics sector
November’s UK Commercial Market in Minutes from Savills has highlighted the continued robustness in the industrial and logistics sector, despite a reduction in take-up during the year due to economic uncertainty.
Most landlords not selling yet
Two in three buy-to-let landlords have no plans to sell any of their properties in the upcoming year, new research1 has revealed. While the new Renters Reform Bill had led some to predict a selling spree, it seems most are holding onto their investments – for now. Those with a single property (75%) and those with two or three (69%) are most likely to hold onto all their properties. In a turbulent market, rising interest rates are the main motivation for six in 10 landlords who intend to sell, a 15% jump on the previous survey. Nearly half claim that the rent they charge no longer covers their mortgage costs.
More pension savers want to exclude oil
New analysis1 has revealed an increase in the number of pension savers who would like to see the oil sector completely excluded from their pension investments, up from 15% in 2022 to 21% in 2023. Of the remaining 79%, almost half said they would only continue to invest in this sector if companies show a concrete commitment to cutting greenhouse gas emissions and improving their environmental impact. Alongside oil, investors were also concerned about companies contributing to deforestation and habitat destruction, predatory lending, and investments in alcohol and gambling.
Cost of raising a child soars
Recent research1 has found that the cost of raising a child has increased by 10% over the last year, with the average UK family spending £223,256 in their offspring’s first 18 years. This works out at over £12,000 a year per child. The research looked at the different costs associated with bringing up children, ranging from essential through to leisure activities.
Inflation rate holds steady
The Bank of England (BoE) Governor has described the latest batch of inflation statistics as “quite encouraging,” adding that he expects a “noticeable drop” in the headline rate when the next set of data is released later this month.
Call us now on
020 8236 8540