Worldwide Financial Planning

While its likely that article 50 is irreversible; to achieve the hard Brexit that seemed inevitable only a few months ago, a lot of things need to happen.

A weak and unpopular prime minister needs to keep together a fragile government, public support needs to be maintained in the face or worsening economic conditions and mounting costs, and serious technical challenges of regulation and infrastructure, many of which are not yet fully understood, need to be solved.

With our leaky splashing buckets (spending and poor tax planning) we make our way through the week filling our (baths) bank accounts with cash trying to get to the point where we can soak and relax.

This week all the focus has been on the G20 summit that is taking place in Germany.

A little trip to www.nationaldebtclock.co.uk is pretty illuminating as your watch the UL's debt (currently £1.87 trillion) rise as £5,170 per second and interest per year at over £45 billion.

Translated into dollars and piling them on top of each other, they would take your nearly 164,000 miles - or 69% of the way to the moon in height.

A consequence of the government's new position is that much of the planned legislation has had to be abandoned and the focus will mostly be Brexit.

Looking at the different borrowers, homeowner borrowing was down 12% on last year (March to March), first time buyers up 12% on the year, and home movers down 33% year on year (by lending volume i.e. the amount of money loaned).

Interestingly remortgaging was up 24% year on year by volume.