Labour have won the 2024 UK General Election with a significant majority – gaining over 400 seats and an estimated 35% of the vote. From taxes and pensions to how the stock market has reacted, here’s what a new Labour government could mean for you and your money.
This week, Nick Rolf considers various factors you should think about before deciding to crack open your pension pot. And when you do, how best to draw on those assets tax-efficiently.
Governor of the Bank of England Andrew Bailey has described the outlook for UK economic growth as “subdued”, but he expects inflation to fall to around 3% and for it to stay at that level throughout most of next year – above the 2% target rate. However, he has warned that if the Israel-Hamas conflict spreads throughout the Middle East, it could have a knock-on effect on energy prices.
Explore the five essential steps to accumulate wealth for your future. This includes devising a strategic plan and mastering the art of saving and investing. Learn to handle the intricacies of debt management and tax allowances, and start investing now to benefit from compounding.
An escalation of the Israel-Gaza war into a broader conflict could deliver another shock to world growth and halt disinflationary forces in their tracks. Market reaction has been modest so far… but that could change.
The outbreak of military conflict in the Middle East may leave central bankers battling new inflationary trends as well as deal a blow to economic confidence at a time when they had expressed growing hope about containing the price surge sparked by the pandemic and Russia’s 2022 invasion of Ukraine.
Wealth Manager Tom Fleming talks about the options you have for making sure that you are in the best possible position to retire from work… but not from life. Tom discusses adjusting your investment strategy from high-risk to lower-risk, the benefits of phased retirement, and how to leverage your state pension, ISA, and other allowances effectively for a secure future.
