This can be a positive or a negative, depending on which side of the (still live) Brexit argument you fall. Either, ‘told you so, now see how much the price of a meal out will be’, or, ‘good, they’ll get a decent wage at last, restaurants and hotels have been run on the cheap for too long’. Remember, however, that rising incomes are the other cause of inflation, the main one in the 1970s heyday of the unions. So could we be heading for the perfect storm?
“Record year for annuity sales driven by advisers”
I was asked this week whether annuities are now ‘a good investment’. They’ve been recommended very rarely in recent years, since ‘pension freedoms’ allowed pretty much unlimited drawdown on pension funds and anything left to be passed on to beneficiaries free of Inheritance Tax.