Here’s the real inflation stranger-danger. Didn’t it all seem great, when companies were halving their manufacturing costs by having everything made in China. Now we (and half of the rest of the world) can’t make anything anymore and they’ve got us over the proverbial. If they say they’re going to double their prices, what can we do? Build more factories? Find workers happy with less than China’s average of £2.53 per hour average factory wage? I don’t think so. Life’s about to get a tad more expensive, I fear.
“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.