Worldwide Financial Planning

In the UK surprisingly robust growth figures caught out most people, with the data not reflecting either the market consensus or general mood of the country. It is baffling that a large increase in interest rates, a huge squeeze on the consumer as bills eat into disposable income and high energy and input prices aren’t having the effect expected.

Staggeringly, only 72 per cent of the population are on track for at least the minimum standard of living. Read that again. Twenty per cent will hit moderate, and eight per cent will be comfortable.

The Bank of England has increased interest rates to the highest level in 15 years as it confirmed a 0.25% hike. The UK has continued to close the gap on the US as the Bank of England chose to increase at the 14th consecutive interest rate meeting to
take the bank’s base rate to 5.25%.

"Retirement should be a glorious thing, a time to fulfil all that you couldn’t before because of time, and I’ll do my utmost to ensure I cover the money side so you can." Peter McGahan.

Financial markets received a boost as UK inflation fell faster than expected. The Consumer Prices Index slowed from 8.7% to 7.9%, the biggest improvement in two years, as petrol and diesel prices fell.

Forget the direct taxation, also consider the indirect taxation: Remember when you didn’t have to pay for education, for university fees, when you didn’t have to pay for parking in a town, or when you didn’t have to pay for parking to visit your dying parent in a hospital. Just where is the money going?