Our Chancellor wants you to put more of your savings in stock and shares and the Treasury report she commissioned has found out why we currently invest less than anyone else in the G7. It’s all down to those risk warnings which tell you that your capital is at risk, you may get back less than you invested and really wouldn’t you feel better if you left it all in the bank? That’s nonsense of course, as no end of warnings will stop someone plonking everything into a Venezuelan property development fund – or Bitcoin for that matter- if they think it might make them rich quick; any more than no warnings at all will tempt someone to take the first steps out of the building society. Some tax incentives might help. But, guess what, halving the IHT saving on smaller company AIM shares has helped to crash that market, CGT and dividend allowances have all but disappeared and rates have increased. The only limp incentive is the forthcoming reduction in Cash ISA allowances for the under-65s. Half-bottomed at best, I’m afraid, Ms Reeves.
Budget Rumours and Possibilities
The Budget Rumour Machine is not the shambles it was last year. Before Rachel’s Swansong all sorts of stuff was leaked to see what sort of puddle it would create.
