Chancellor Reeves 'won't be playing games' with Labour plans for the economy https://lnkd.in/eUrtmDe7 #economy #ukeconomy #planningreform
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Play the Bloomberg fantasy budget game! Will you give your party a pre-election boost? Or will your budget fall apart? Get started here: https://bloom.bg/3wCdmvz #Budgeting #FinancialMarkets #Game
Play Our Fantasy Budget Game and Watch Markets and Voters React
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Play the Bloomberg fantasy budget game! Will you give your party a pre-election boost? Or will your budget fall apart? Get started here: https://bloom.bg/3TuqAn7 #Budgeting #FinancialMarkets #Game
Play Our Fantasy Budget Game and Watch Markets and Voters React
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Do you know what the Tapered Annual Allowance is? Does it matter? If you're a high earner and you're looking to maximise your pension contributions, the answer is probably yes! This video will give you a quick summary. Watch here: https://lnkd.in/etdZWTHA #pensions #businessowners
High earners - Tapered Annual Allowance: why is it important??
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Consumer Duty Champion | R-Day 🎃 = Better Outcomes for 92% of Workers | Helping CEOs & Workers become Net Zero Heroes
As I begin this week to pen my first dozen referrals to the FCA Enforcement Division, hot on the heels of the Financial Conduct Authority 'Dear CEO' letters issued last week, the 🙈🙉🙊 stand off by Pensions La La Land, MPS and IFA Firms is about to come to a head after 10yrs of non-compliance with COBS19.1 expectations. Below Henry Tapper (aka the Pensions Plowman) gets out his smallest violin and belittles the 14m Gen X workers. I identified over a decade ago Gen X were Most at Risk (MaR) from 20yrs of #Pensionwashing that started with New Labour's Stakeholder Pensions and morphed into Auto Enrolment and Qualifying Workplace Pension Schemes. The Pension PlayPen issued thousands of pension reports to SMEs backed by First Actuarial 5 ⭐️ Ratings, which placed the selection risk on the SME business owner. A common tactic deployed by Consultancy Firms who organised 'beauty parades' of shortlisted Pension Providers, based on extensive risk assessments conducted by experts from Pensions La La Land that was entirely outside the scope of 'Regulated Activities' since no recommendation was made, it was the choice of the Employer. Over the years I have personally 'offended' most of the great and the good in Pensions La La Land. I have been told to 'f*** off' and been given special treatment by HM Treasury funded legal folk who 'decided to take a different approach' to the Law. Exactly like the approach used to bully, intimidate and harass 4,000 'skint little people' who bought a Post Office IT platform for their little community focused businesses. The figures are a little sketchy, but somewhere between 1.8m and 2.4m little business owners have been forced to buy Pension IT platforms that have delivered around 10m workers £600bn less retirement benefits than could, and should, have been secured since 2012. At an average loss of around £60,000 per worker, I understand why Firms are taking the 🙈🙉🙊 approach. Last week I offended an IFA CEO with my straight talking (a classic neurodivergent trait), and we agreed to refer his lack of action and his excuses since 2011, to the FCA Enforcement Division. He made some fair points, like; 'if I had done what you did, I'd have been f***ed just like you were' and 'it would have caused me a s*** load of hassle'. Perfectly valid points, but totally f***ing irrelevant to 14m Gen X'ers. This includes his own IFA workers, who I know personally are amongst those who lost between £60,000 and £200,000 of future retirement benefits because Due Diligence steps were inadequate and resulted in non-compliance with COBS19.1 Opt Out expectations, which were communicated by the FCA's Small Firms Unit (SFU) 10yrs ago and relayed by my team and I verbatim. In summary, the small violins will be getting played by Gen X'ers for all the poor CEO's of Firms who have enjoyed the prosperity of a 1,000% CAGR with a 92% PMF failure rate. It's time to pay the piper, and PLAN C. #BUOM #10MillionMaR #ConsumerDuty #RDay 🎃
Mr Kirkup has to accept that his handsome salary comes with an onus to make his own way home. That does not leave him abandoned.
James Kirkup – you’re 48 today. Get saving , stop moaning – grow up!
http://henrytapper.com
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Debate as a "lifestyle" Years ago, I had one who told me that baseball is not only sports. "Baseball is a lifestyle". Sports (= competition) is a major component of American society. One only needs to see how a father trains his son in catching a ball. It starts from age 3, and maybe younger. How a mother would take her daughter to soccer game for girls. One might conclude that sports (= competition) is more important than studies in school. This competition feature is part of the American process of elections - the debate between the candidates. As if personality is more important than the view of life, the candidates' records, the policies the candidates advocated during the years. The US is at a point of no return in terms of financial security. The interest rate on the national debt is about a trillion. The Federal budget is a deficit budget every single year. It is unsustainable. And the party continues as if there is no tomorrow. Who won the debate? I know who lost the debate. The US!!!
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🔔 King’s Speech Marks Beginning of New Labour Government’s Legislative Session 🔔 What Does This Mean for the Regulatory Landscape? On the 17th of July 2024, Parliament convened for the State Opening. During the King’s speech, the first legislative session commenced, highlighting key legislative actions including the Pension Schemes Bill. The new Labour Government also outlined its plans and priorities for the financial services sector. 📊 In our latest piece, we delve into the Government’s comprehensive plans and analyse their potential impact on the financial services industry. The Labour Party’s strategic blueprint, “Financing Growth – Labour’s Plan for Financial Services,” authored by the new Chancellor of the Exchequer Rachel Reeves and Economic Secretary to the Treasury Tulip Siddiq, is a cornerstone of the Government’s economic growth agenda. We explore the six key areas of action outlined in the paper and their likely effects on the sector. Click here to read more 👉 https://lnkd.in/ecsreFan #RegulatoryUpdate #FinancialServices #LabourGovernment #EconomicGrowth #PolicyAnalysis #PensionSchemesBill #Complyport
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As we move into a new governmental landscape, what does that mean for Compliance? Take a look at the article below, and let us know if you require any assistance moving forward:
🔔 King’s Speech Marks Beginning of New Labour Government’s Legislative Session 🔔 What Does This Mean for the Regulatory Landscape? On the 17th of July 2024, Parliament convened for the State Opening. During the King’s speech, the first legislative session commenced, highlighting key legislative actions including the Pension Schemes Bill. The new Labour Government also outlined its plans and priorities for the financial services sector. 📊 In our latest piece, we delve into the Government’s comprehensive plans and analyse their potential impact on the financial services industry. The Labour Party’s strategic blueprint, “Financing Growth – Labour’s Plan for Financial Services,” authored by the new Chancellor of the Exchequer Rachel Reeves and Economic Secretary to the Treasury Tulip Siddiq, is a cornerstone of the Government’s economic growth agenda. We explore the six key areas of action outlined in the paper and their likely effects on the sector. Click here to read more 👉 https://lnkd.in/ecsreFan #RegulatoryUpdate #FinancialServices #LabourGovernment #EconomicGrowth #PolicyAnalysis #PensionSchemesBill #Complyport
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This year's King's Speech emphasised the goal of generating wealth across all regions of the country and enhancing the living standards of working individuals 👑 The 35 bills and draft bills aim to drive economic growth. We've created the document below summarising the key headlines, including the proposed Pension Schemes Bill and Planning and Infrastructure Bill updates 📃 🔗 https://lnkd.in/e-yXHVbT 🔗 #kingsspeech #economyuk
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Le couteau suisse. Banker. Investment manager. NED. Board adviser. Funding & origination. Strategic thinker. Value creator. Capital procurer & preserver. r2advisory.co.uk
DAILY DROP. The Law of Unintended Consequences - part II Fascinating opinion piece read here from an ex-Economist staff writer now contributing to Bloomberg. My precursor - if a 34% share of the popular vote gives a 158 seat simple majority (167 seat effective working majority - Institute for Government) then it was never going to take long for the deep-rooted cracks in the electorate to start to open yet wider (will be an interesting read across for the US plebiscite in November). So 6 weeks after SKS & new (old? Labour) were voted in on a tumultuous night of inglorious exits for the pummeled Tories, how do we mark the UK to market? Carrying on the work of the previous incumbents, the alienation of the upper rich through abolition of non-Dom status is not a great start at encouraging private wealth to back their much touted growth agenda. Putting 20% VAT on school fees was a well publicised policy promise, less expected was it's introduction with effect from January 2025, ie mid school year, placing an incremental burden on parents withdrawing their kids early from their fee-paying schools, further pressure on an already stretched state school sector that needs to find places for these pupils, & of course the additional financial pressure on those schools where pupil rolls fall & tough economic decisions have to be taken as to ongoing viability. What do they achieve by doing it 9 months earlier than expected? A lot of headlines, & a first attack on the middle England voter that drove their return to Westminster. Beware the wolf dressed in sheep's clothing? Away from the UK....As the Fed heads for Jackson Hole for its annual symposium & the DNC takes place in Chicago (Joe calls The Donald a loser - let's wait & see!? as teary-eyed he formally exits stage left), Harris endorses plans to raise US corp tax from 21% to 28% if elected. Israel "accepts" a US brokered ME ceasefire agreement thus placing the onus on Hamas to end the 10 month conflict, but the region awaits reprisals for the recent assassinations so definitive agreement still seems a challenge imho. Markets-wise: S&P 500 rose for an 8th straight day on bets of imminent Fed easing with the "correction" of 2 weeks ago fading like a bad hangover, yet the price of a gold bar (a normally defensive investment) hits $1mm for the very first time - hedging bets seemingly but arguably a sign that the conviction is not as deep as it might appear? The USD continues to weaken on the same rate cut expectations, oil drifts yet lower on talk of lower demand globally & the afore-mentioned ME peace accord. Things feel precariously priced for perfection to me - & you Dear Reader? In the sporting world - no shocks after the first weekend's Premier League action, though day one home defeats for Everton, West Ham & Chelsea may be harbingers of a challenging season ahead though one swallow does not a summer make!? "Uncertainty is the only certainty." JA Paulos, 2003
Keir Starmer’s Team Has It In for Middle England
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The late great rugby union commentator, Bill Maclaren, used to refer to it as an “up and under” or “Garry Owen”, that moment at the end of game where the fly half kicked the ball deep and high into the other teams half hoping to disrupt the opposition players and make “something”, or indeed, “anything” happen. And in many ways, it’s a great way to describe Jeremy Hunt’s second Spring Budget. Delivered at a time when the Government’s approval rating and position in the polls is the lowest it’s been since 1997, it’s the ultimate up and under as the Chancellor tries to balance fiscal restrictions and poorer economic data with measures focused on delivering growth reducing the tax burden. To find out more of Chris Humphreys' highlights from this year's Spring Budget, click here https://lnkd.in/d86KWPux #springbudget #springbudget2024 #yorkshirebusiness #budget2024
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