The UK economy and small companies
A gap has emerged between the growth of small and large companies. A survey has shown that companies with less than 50 employees have reported less growth in profits than those with more than 250 employees. Small businesses are suffering from reduced margins, as many companies are still overall generating revenue growth.
European gender ruling
Politicians and insurance experts have attacked a ruling from the European Court of Justice which prevents insurers treating men and women differently when assessing risk. The decision has huge implications for pensions, life cover and car insurance.
Life Expectancy is rising
News was slow over the Christmas period but when the Pensions Minister, Steve Webb, issued a statement to say that 17% of the current UK population would reach the age of 100 the press made the most of it. Headlines included – over 10 million centenarians but it was not made clear that this would take many years to happen.
Spain & Portugal – the next big worry for the eurozone
After a warning from the credit rating agency Moody’s that Spain’s credit rating might be downgraded, the euro slid hard against the dollar yesterday (16th December 2010). Spain is the big worry for the eurozone. Ireland and Greece were nasty blips, but they could be coped with.
New deposit guarantee limit to be £85,000
The Financial Services Authority (FSA) has recently confirmed that the new deposit compensation limit for the United Kingdom will increase from £50,000 to £85,000 per person, per authorised firm, from 31 December 2010. This is the Sterling equivalent of the €100,000 deposit compensation limit which comes into force in all European Economic Area (EEA) member states at the end of the year.
Calls for capital tiered tax to replace IHT
According to the Institute for Public Policy Research the Government should replace inheritance tax with a tired system to increase revenues. A recent report by the IPPR named Death and Taxes illustrated that a capital receipt tax payable on cash and non-cash gifts over £150,000 would raise an extra £1bn.