On Monday HMRC announced their intention to change the carry forward of unused pension contribution for the transitional period 2008/9 to 2010/11
The problem George Osborne has is the Pandora’s box he has created by setting up the office of Budget Responsibility as an independent body to produce economic forecasts and to judge the progress of the government fiscal targets. The idea behind the OBR was sound, the Labour administration had made a complete cods of the country’s finances but were masters of spin and hence were able to persuade the electorate that all was well. The OBR would mean that such manipulation of figures could not happen again.
Barely a year later the OBR is doing it’s job, unfortunately what it is telling us isn’t what George Osborne was hoping for!
So George is in a fix. He desperately needs some Keynesian spending to get the economy moving again but he hasn’t got any money to do this otherwise his borrowing reduction plans (which to date mean borrowing increasing plans) will look even more tenuous than they do now and we shall see the 7% bond yields which have brought down Italy, Spain and Greece.
We all look aghast at the G20 meeting in France and the shenanigans of the Greek and Italian governments with regard to their debt crisis however what do all these huge figures actually mean?
The CII have published their list of ISO 22222 approved financial advisers and we are pleased to confirm Andrew Swallow is one of only 9 advisers qualified to this high level within the Chartered Insurance Institute (Standards International tell us there are fewer than 100 in the UK).
Swallow Financial Planning provide good old fashioned advice .
We had acted for a business owner for several years during which time we had on several occasions argued successfully against the company’s group pensions advisers with regard to directors benefits.