“There is no “Brexit dividend” to spend on the NHS”

Jun 19, 2018 | NHS

An independent (financial adviser’s) view

Theresa May has finally learned from the ‘Leave’ campaign veterans with whom she’s surrounded, that most of the voting public will only remember the loudest part of any story, and none of the detail which comes later. In this case, it’s that old, winning favourite, the £ms we save from Brexit saving the NHS.

Of course, those useless experts, even the ones employed by No.10, tell a different story: “There is no Brexit dividend. Payments to the EU will fall, but tax revenues will fall far more. That is the official position of the government which has accepted the Office for Budget Responsibility’s forecast that public finances are likely to be weakened to the tune of £15bn a year as a result of Brexit” (Paul Johnson, IFS, former chief economist at the Treasury). 

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“Reeves backs down on plans to cut ISA limit”

“Reeves backs down on plans to cut ISA limit”

So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.

“Two thirds of adults are worried about care costs in later life”

“Two thirds of adults are worried about care costs in later life”

A dichotomy/dilemma here. Two thirds of adults are probably right to be worried about the cost of care, which is huge and getting more so. Many of those currently worrying will have had first-hand experience with their own parents, which will have focused their minds on their own possible future.

“Why most won’t need to worry about IHT on pensions”

“Why most won’t need to worry about IHT on pensions”

Many a government has made the point that only a minority will be affected by this or that tax change or tinker. It is, however, both perception and aspiration which are important, and they are what makes IHT the ‘most hated’ of all taxes – along with all the others, of course.