I listened to Paul Johnson, director of the Institute of Fiscal Studies, the most neutral of the money ‘think tanks’, on one of the many podcasts I follow. He, like me, thinks that both parties have painted themselves into a proverbial corner by promising no increases to income tax and VAT, which, together, account for around 75% of the total tax-take. Both, too, have said that borrowing will not increase. What’s left? Well, he sees pensions as rife for reform, with tax-free cash an anomaly, leaving your pension free of any tax up to 75 as ‘absurd’ and ‘ludicrous’. He doesn’t think they’ll change either, and I’d agree. They would probably only be able to change the tax-free lump-sum for future pensions so any tax benefits would be way in the future. Restricting tax relief on the way in is the most likely, but it has been for the last 40 years, a rumour at every budget for as long as I can remember. And the lifetime allowance? Sorry, unless it’s brought back in a really tough and reduced way, it won’t pay for more than a couple of potholes and hospital beds.
“2024 a mixed year for sustainable investing, report finds”
lthough in theory the environment (pardon the) for sustainable/ethical/responsible funds improved significantly last year, the performance of many did not. Excluding oil/mining/guns/fags all hampered their performance in the aftermath of Ukraine.