Money Tips Daily by Charles Kelly, former IFA and author of

Money Tips Daily by Charles Kelly, former IFA and author of

By Charles Kelly Business CoachBusiness
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Money Tips Daily by Charles Kelly, former IFA and author of episodes

  • London Rents Jump By 20% As Mayor Khan Calls For Rent Controls

    London Rents Jump By 20% As Mayor Khan Calls For Rent Controls

     

    Residential rents in the capital soar by almost 20% as

    workers return to the city. 

     

    London Mayor Khan wants the government to give him powers

    to impose a cap on rents, but is that the answer or will more regulation
    exacerbate the shortage of available rental properties?

     

    Tens of thousands of landlords are quitting the market and

    estate agents Knight Frank estimated that 144,000 landlords have retired in the
    last year.

     

    See 85,000 UK Landlords have quit the rental market

    - https://youtu.be/NME3nEu8dAQ

    Furthermore, higher interest rates and mortgage

    restrictions have rendered many buy-to-let property deals unviable.

     

    Buy-to-let landlords have had to contend with higher

    taxes, and more red tape in the last few years, prompting many to look for
    alternative business opportunities.

     

    Watch video - https://youtu.be/rxqPIXYaLAc

     

    There are signs that the government may be getting the

    message.

     

    According to as yet unsubstantiated rumours, the

    government may be pushing back its planned introduction of tighter EPC
    requirements.

     

    However, the abolition of Sec 21 no fault evictions looks

    like it is going ahead, despite the fact that there is no workable
    replacement. 

     

    With a pending recession and higher interest rates, house

    prices have slumped by more than 4% from that peak, according to March's
    figures from the Nationwide Building Society.

    Prices have fallen for five consecutive months as the Bank

    of England struggles to control inflation.

    Does this mean

    there will be a 2008-style crash? Much depends on government moves to balance
    the economy, as no Prime Minister wants to face a general election during a
    property crash.

    If you would like to know more about property, money,

    management and wealth building tips, I’m running a free webinar this week on
    Wednesday evening at 8 pm.

     

    Need help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live money management training

    Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH

    #interestrates

    #property #mortgages #remortgage #firsttimebuyer #mortgagerates
    #homebuyers  #housepricefall #finance
    #moneytraining #moneymanagement #wealth #money #EPC #buytolet #rentalproperty #Section21

    12 min
  • Airbnb Holiday Serviced Accommodation Rentals To Be Regulated In UK Seaside Resorts, Gove Warns

    Michael Gove, the UK's Secretary of State for Environment, Food and Rural Affairs, has proposed

    new regulations for short-term rentals in holiday resorts, including those
    listed on Airbnb.

    Join me online on my free live money management training

    Wednesday 8.00PM https://bit.ly/3QPp8IH

    These regulations aim to address concerns over the impact of such rentals on the availability and

    affordability of housing in these areas. House prices have surged in popular
    coastal beauty spots in parts of Devon, Cornwall and Norfolk as investors swoop
    up property for holiday lets as higher rents.

    Under the proposed rules, local councils would have the power to require property owners to obtain

    planning permission before renting out their homes for short periods. This
    would allow councils to regulate the number of short-term rentals in an area,
    and to ensure that they do not have a negative impact on the availability of
    long-term housing.

    Watch video version - https://youtu.be/QvkdXPYjRMw

    The regulations would also require Airbnb hosts to register their properties with their local

    council, and to comply with safety and hygiene standards.

    Although these regulations have not yet been implemented, and it remains to be seen how they

    will be received by the public and by Airbnb hosts, the news will nevertheless
    be yet another worry to weary landlords.

    Thousands of landlords have switched their business model to the more lucrative holiday, or

    serviced accommodation (SA) rentals, as an alternative standard buy-to-let.

    As many as 85,000 UK Landlords have quit the rental market

    in the last few years due to higher taxes and government red tape. Rents have
    increased as demand outstrips supply - https://youtu.be/NME3nEu8dAQ

    Buy-to-let property owners face further problems ahead with the planned abolition of Sec 21 no fault evictions and higher EPC

    energy rating standards.

    Could there be a property crash?

    Property prices surged by about 25% across the UK from the

    start of 2020 until Autumn 2022.

    With a pending recession and higher interest rates, house

    prices have slumped by more than 4% from that peak, according to March's
    figures from the Nationwide Building Society.

    Prices have fallen for five consecutive months as the Bank

    of England struggles to control inflation.

    Does this mean there will be a 2008-style crash? Much depends on government moves to balance

    the economy, as no Prime Minister wants to face a general election during a
    property crash.

    Need help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live money management training

    Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH
    https://bit.ly/3QPp8IH

    12 min
  • A Lifetime ISA Is Ideal For First Time Property Buyers To Earn £1,000 Tax Free Bonus

    A Lifetime ISA Is Ideal For First Time Property Buyers To

    Earn £1,000 Tax Free Bonus

    Use or lose your £1,000 tax free bonus before 5 April...

    First-time property buyers can use a Lifetime ISA

    (Individual Savings Account) to buy their first home or save for retirement.

    You should be 18 or over but under 40 to open a Lifetime

    ISA.

    Watch video version - https://youtu.be/T4N8Drjy9ng

    You can invest up to £4,000 each year, until you’re 50, but

    you must make your first payment into your ISA before you’re 40.

    The UK government will add a 25% bonus to your savings, up

    to a maximum of £1,000 per year.

    See full details on government website.

    Need more help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or
    depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH

     

    #property

    #mortgages #financialfreedom #firsttimebuyer #homebuyers #LifetimeISA #firsttimebuyer
    #firsttimehomebuyer #isa

    10 min
  • A Lifetime ISA Is Ideal For First Time Property Buyers To Earn £1,000 Tax Free Bonus

    A Lifetime ISA Is Ideal For First Time Property Buyers To

    Earn £1,000 Tax Free Bonus

    Use or lose your £1,000 tax free bonus before 5 April...

    First-time property buyers can use a Lifetime ISA

    (Individual Savings Account) to buy their first home or save for retirement.

    You should be 18 or over but under 40 to open a Lifetime

    ISA.

    Watch video version - https://youtu.be/T4N8Drjy9ng

    You can invest up to £4,000 each year, until you’re 50, but

    you must make your first payment into your ISA before you’re 40.

    The UK government will add a 25% bonus to your savings, up

    to a maximum of £1,000 per year.

    See full details on government website.

    Need more help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or
    depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH



     

    #property

    #mortgages #financialfreedom #firsttimebuyer #homebuyers #LifetimeISA #firsttimebuyer
    #firsttimehomebuyer #isa

    8 min
  • The Last Day of ‘Help to Buy’ and Higher Mortgage Rates: What You Need to Know As House Prices See Biggest Fall Since 2009

    Last week, the Bank of England announced an interest rate hike of 0.25%, which will have a

    significant impact on the UK property market. The change will impact mortgages,
    remortgages, and first-time buyers, and it comes just in time for the last day
    of the Help to Buy scheme.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so register
    now below to avoid disappointment. https://bit.ly/3QPp8IH

    Money Tips Podcast guest, Miriam Nawagamuwa CeMAP, Mortgage and Protection Advisor with Larkin

    Financial Services Ltd gives her expert views on the mortgage market.

    Fixed-rate mortgages will remain unaffected by the interest rate hike, which is good news

    for those who have locked in their mortgage rates for a fixed period. However,
    for those who are looking to remortgage, this could mean an increase in monthly
    payments.

    Watch YouTube Video Podcast Version: https://youtu.be/iRrL3GRY3-8

    The Bank of England's interest rate hike is a response to rising inflation, which has been fuelled

    by increasing energy costs and supply chain disruptions caused by the pandemic.
    The aim is to curb inflation and stabilize the economy, but the move could also
    affect property prices.

    The Nationwide just announced the largest fall in house prices since 2009 and said that prices were

    down 3.1% on March 2022.

    Higher interest rates mean that mortgages will become more expensive, which could lead to a

    decrease in demand for properties. This could result in a slowdown in the
    property market, as potential buyers may become more cautious about making big
    financial decisions.

    The end of the Help to Buy scheme is also significant for first-time buyers. The scheme has helped

    many people get onto the property ladder by offering government-backed equity
    loans. From the 1st of April 2023, the scheme will come to an end, which means
    that first-time buyers may find it harder to get on the property ladder.

    One alternative option for first-time buyers is the Lifetime ISA, which is a tax-free savings

    account that can be used to buy a first home or used after age 60 for
    retirement. The account allows savers to put away up to £4,000 per year, and
    the government will top up the account with a 25% bonus - £1,000.

    In summary, the Bank of England's interest rate hike will impact the UK property market in

    several ways. Fixed-rate mortgages will remain unaffected, but remortgages,
    tracker and variable rate mortgages, as well as first-time buyers will be hit.

    The end of the Help to Buy scheme could also make it harder for first-time buyers to get onto the

    property ladder. As always, it's essential to seek professional advice before
    making any financial decisions in the current climate.

    Need more help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or
    depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH

     

    #interestrates #property #mortgages #fixedratemortgage #remortgage #firsttimebuyer #helptobuy

    #mortgagerates #homebuyers #LifetimeISA #variableratemortgage
    #trackerratemortgage

    14 min
  • The Last Day of ‘Help to Buy’ and Higher Mortgage Rates: What You Need to Know As House Prices Suffer Largest Fall Since 2009 According To Nationwide Building Society

    Last week, the Bank of England announced an interest rate hike of 0.25%, which will have a

    significant impact on the UK property market. The change will impact mortgages,
    remortgages, and first-time buyers, and it comes just in time for the last day
    of the Help to Buy scheme.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so ⁠register
    now⁠ below to avoid disappointment. ⁠https://bit.ly/3QPp8IH⁠

    Money Tips Podcast guest, Miriam Nawagamuwa CeMAP, Mortgage and Protection Advisor with Larkin

    Financial Services Ltd gives her expert views on the mortgage market.

    Fixed-rate mortgages will remain unaffected by the interest rate hike, which is good news

    for those who have locked in their mortgage rates for a fixed period. However,
    for those who are looking to remortgage, this could mean an increase in monthly
    payments.

    Watch YouTube Video Podcast Version: ⁠https://youtu.be/iRrL3GRY3-8⁠

    The Bank of England's interest rate hike is a response to rising inflation, which has been fuelled

    by increasing energy costs and supply chain disruptions caused by the pandemic.
    The aim is to curb inflation and stabilize the economy, but the move could also
    affect property prices.

    The Nationwide just announced the largest fall in house prices since 2009 and said that prices were

    down 3.1% on March 2022.

    Higher interest rates mean that mortgages will become more expensive, which could lead to a

    decrease in demand for properties. This could result in a slowdown in the
    property market, as potential buyers may become more cautious about making big
    financial decisions.

    The end of the Help to Buy scheme is also significant for first-time buyers. The scheme has helped

    many people get onto the property ladder by offering government-backed equity
    loans. From the 1st of April 2023, the scheme will come to an end, which means
    that first-time buyers may find it harder to get on the property ladder.

    One alternative option for first-time buyers is the Lifetime ISA, which is a tax-free savings

    account that can be used to buy a first home or used after age 60 for
    retirement. The account allows savers to put away up to £4,000 per year, and
    the government will top up the account with a 25% bonus - £1,000.

    In summary, the Bank of England's interest rate hike will impact the UK property market in

    several ways. Fixed-rate mortgages will remain unaffected, but remortgages,
    tracker and variable rate mortgages, as well as first-time buyers will be hit.

    The end of the Help to Buy scheme could also make it harder for first-time buyers to get onto the

    property ladder. As always, it's essential to seek professional advice before
    making any financial decisions in the current climate.

    Need more help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or
    depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a ⁠free

    training webinar⁠. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so ⁠register
    now⁠ below to avoid disappointment.

    ⁠https://bit.ly/3QPp8IH⁠

     

    #interestrates #property #mortgages #fixedratemortgage #remortgage #firsttimebuyer #helptobuy

    #mortgagerates #homebuyers #LifetimeISA #variableratemortgage
    #trackerratemortgage


    13 min
  • Interest Rates Rise AGAIN: How the Fed and BoE's 0.25% Hike Will Impact Your Mortgage and a Rapidly Slowing Property Market

    Last week, both the Federal Reserve in the United States and

    the Bank of England announced a 0.25% interest rate hike.

    This move comes

    in response to rising inflation and a strengthening economy. While interest
    rate hikes may be good news for savers, they can also have a significant impact
    on the mortgage and property market.

    Join me online on my free live training Wednesday at 8.00PM.

    https://bit.ly/3QPp8IH

    One of the most immediate impacts of the interest rate hike

    will be on fixed-rate mortgages. These mortgages are often preferred by buyers
    because they provide a predictable monthly payment over the life of the loan.
    However, when interest rates rise, the cost of borrowing increases, which means
    that fixed-rate mortgages will become more expensive. This may make it more
    difficult for some buyers to qualify for a mortgage, or force them to adjust
    their budget to afford a higher monthly payment.

    Watch video version - https://youtu.be/wgEq0y4X5Xw

    The interest rate hike could also impact the demand for

    homes. As the cost of borrowing increases, some buyers may decide to hold off
    on purchasing a home or look for a less expensive property. This could lead to
    a slowdown in the housing market, which could ultimately impact property
    values.

    In addition, rising interest rates can also impact the

    rental market. As the cost of borrowing increases, landlords may have to raise
    their rents to cover their increased expenses. This could make it more
    difficult for renters to find affordable housing.

    Rising interest rates could be good news for savers. As

    banks slowly increase their interest rates, savers may be able to earn a higher
    return on their savings. This could encourage more people to save, which could
    ultimately help to strengthen the economy.

    Inflation is another factor to consider when thinking about

    the impact of interest rate hikes. As the cost of borrowing increases, so too
    does the cost of goods and services. This can lead to higher inflation, which
    can ultimately impact the economy. However, by raising interest rates, the
    Federal Reserve and the Bank of England are trying to keep inflation in check
    and prevent it from spiralling out of control.

    In conclusion, the interest rate hikes announced by the

    Federal Reserve and the Bank of England this week are likely to have a
    significant impact on the mortgage and property market. While fixed-rate
    mortgages will become more expensive, savers may be able to earn a higher
    return on their savings. The demand for homes may also slow down, which could
    impact property values and the rental market. As always, it is important to
    monitor the situation and adjust your financial plan accordingly.

    Need more help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or
    depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH

    #money #savings #invest

    #costoflivingcrisis #inflation #freetraining #recession #economy
    #financialfreedom #moneymanagement #moneymakingideas #interestrates
    #mortgages

    9 min
  • Interest Rates Rise AGAIN: How the Fed and BoE's 0.25% Hike Will Impact Your Mortgage and a Slowing Property Market

    Last week, both the Federal Reserve in the United States and

    the Bank of England have announced a 0.25% interest rate hike. This move comes
    in response to rising inflation and a strengthening economy. While interest
    rate hikes may be good news for savers, they can also have a significant impact
    on the mortgage and property market.

    Join me online on my free live training Wednesday at 8.00PM.

    https://bit.ly/3QPp8IH

    One of the most immediate impacts of the interest rate hike

    will be on fixed-rate mortgages. These mortgages are often preferred by buyers
    because they provide a predictable monthly payment over the life of the loan.
    However, when interest rates rise, the cost of borrowing increases, which means
    that fixed-rate mortgages will become more expensive. This may make it more
    difficult for some buyers to qualify for a mortgage, or force them to adjust
    their budget to afford a higher monthly payment.

    Watch video version - https://youtu.be/wgEq0y4X5Xw

    The interest rate hike could also impact the demand for

    homes. As the cost of borrowing increases, some buyers may decide to hold off
    on purchasing a home or look for a less expensive property. This could lead to
    a slowdown in the housing market, which could ultimately impact property
    values.

    In addition, rising interest rates can also impact the

    rental market. As the cost of borrowing increases, landlords may have to raise
    their rents to cover their increased expenses. This could make it more
    difficult for renters to find affordable housing.

    Rising interest rates could be good news for savers. As

    banks slowly increase their interest rates, savers may be able to earn a higher
    return on their savings. This could encourage more people to save, which could
    ultimately help to strengthen the economy.

    Inflation is another factor to consider when thinking about

    the impact of interest rate hikes. As the cost of borrowing increases, so too
    does the cost of goods and services. This can lead to higher inflation, which
    can ultimately impact the economy. However, by raising interest rates, the
    Federal Reserve and the Bank of England are trying to keep inflation in check
    and prevent it from spiralling out of control.

    In conclusion, the interest rate hikes announced by the

    Federal Reserve and the Bank of England this week are likely to have a
    significant impact on the mortgage and property market. While fixed-rate
    mortgages will become more expensive, savers may be able to earn a higher
    return on their savings. The demand for homes may also slow down, which could
    impact property values and the rental market. As always, it is important to
    monitor the situation and adjust your financial plan accordingly.

    Need more help with your money, finances or debt?

    We are living in challenging economic times.

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or
    depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to take you to the next level, help you get control

    of your money, learn how to invest and become financially free.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH

    #money #savings #invest

    #costoflivingcrisis #inflation #freetraining #recession #economy
    #financialfreedom #moneymanagement #moneymakingideas #interestrates
    #mortgages

    9 min
  • Banking Crisis And UK 2023 Budget Summary, What You Need To Know

    Another bank bailed out while Paris burns.

    3 Steps To Success Money Management! Join me online

    on my free live training Wednesday at 8.00PM. Places are limited, so register
    now below to avoid disappointment. https://bit.ly/3QPp8IH

    As expected, Jeremy Hunt’s first budget did little to excite investors and

    the property industry.

    Watch YouTube video - https://youtu.be/igKUWeiF4W4

    With the country still recovering from the events of the last two years and

    massive Government debt there was not much money to give away in this budget.
    Chancellors usually save that for a pre-election budget!

    Jeremy Hunt highlighted concerns about the banking sector,

    following the collapse of America’s Silicon Valley Bank, Signature Bank and a further
    bailout by the US banks, but reassured us that the UK banking industry is safe.

    European Central Bank supervisors see no contagion for euro

    zone banks from recent sector turmoil, a source said on Friday, after U.S.
    lenders threw First Republic Bank a $30 billion lifeline and tapped record
    amounts from the Federal Reserve.

    Large U.S. banks on Thursday were forced to rescue the

    San Francisco-based lender, which was caught up in market volatility triggered
    by the collapse of two other mid-size U.S. banks.

    This week, Credit Suisse went ‘cap in hand’ to the

    central for an emergency bank loan of up to $54 billion to shore up
    its liquidity – banking terms for having no money!

    The National Residential Landlords Association described it as missed

    opportunity to tackle the supply crisis in the private rented sector and the
    Royal Institution of Chartered Surveyors (RICS) said it was disappointed by the
    lack of housing ambition in the budget.

    However, the Chancellor did announce 12 new Investment Zones across the UK

    and relaxed Immigration Rules to help the construction industry cope with staff
    shortages.

    Most of us will be paying more tax  in the coming years due to the ‘fiscal drag’

    caused by tax allowances not rising in line with inflation each year.

    Here’s a summary of the main points, but you can read the full

    budget speech at the commons library - https://commonslibrary.parliament.uk/research-briefings/cbp-9748/

    Budget main points

    ·       

    Energy
    cap limiting typical household energy bills to £2,500 a year extended to June

    ·       

    £200m
    to bring energy charges for prepayment meters into line with prices for
    customers paying by direct debit - affects 4m households

    ·       

    Lifetime
    Allowance – the cap on amount workers can accumulate in pensions savings
    over their lifetime before having to pay extra tax (currently £1.07m) to be
    abolished

    ·       

    Tax-free
    yearly allowance for pension pot to rise from £40,000 to £60,000


    Full list on recording.

    We are living in turbulent times. Need more help with

    your money, finances, or debt?

    I want to show you how can you:

    ·       

    Not only survive, but thrive in a recession or
    depression?

    ·       

    Get control of your finances and spending?

    ·       

    Save and invest for your future?

    ·       

    Learn about money and finance?

    To help you, I am running a free

    training webinar. 

    3 Steps To Success Money Management!

    I want to help you get control of your money, learn how to

    invest and become financially free.

    Join me online on my free live training Wednesday at 8.00PM.

    Places are limited, so register

    now below to avoid disappointment.

    https://bit.ly/3QPp8IH


    #money #savings #invest

    #costoflivingcrisis #inflation #freetraining #recession #economy
    #financialfreedom #moneymanagement #moneymakingideas #mortgage
    #interestrates #property #budget  #franceriots
    #parisriots #pension

    27 min
  • Banking Crisis And UK 2023 Budget Summary, What You Need To Know

    Another bank bailed out while Paris burns.

    3 Steps To Success Money Management! Join me online

    on my free live training Wednesday at 8.00PM. Places are limited, so register
    now below to avoid disappointment. https://bit.ly/3QPp8IH

    As expected, Jeremy Hunt’s first budget did little to excite investors and

    the property industry.

    Watch YouTube video - https://youtu.be/igKUWeiF4W4

    With the country still recovering from the events of the last two years and

    massive Government debt there was not much money to give away in this budget.
    Chancellors usually save that for a pre-election budget!

    Jeremy Hunt highlighted concerns about the banking sector,

    following the collapse of America’s Silicon Valley Bank, Signature Bank and a further
    bailout by the US banks, but reassured us that the UK banking industry is safe.

    European Central Bank supervisors see no contagion for euro

    zone banks from recent sector turmoil, a source said on Friday, after U.S.
    lenders threw First Republic Bank a $30 billion lifeline and tapped record
    amounts from the Federal Reserve.

    Large U.S. banks on Thursday were forced to rescue the

    San Francisco-based lender, which was caught up in market volatility triggered
    by the collapse of two other mid-size U.S. banks.

    This week, Credit Suisse went ‘cap in hand’ to the

    central for an emergency bank loan of up to $54 billion to shore up
    its liquidity – banking terms for having no money!

    The National Residential Landlords Association described it as missed

    opportunity to tackle the supply crisis in the private rented sector and the
    Royal Institution of Chartered Surveyors (RICS) said it was disappointed by the
    lack of housing ambition in the budget.

    However, the Chancellor did announce 12 new Investment Zones across the UK

    and relaxed Immigration Rules to help the construction industry cope with staff
    shortages.

    Most of us will be paying more tax  in the coming years due to the ‘fiscal drag’

    caused by tax allowances not rising in line with inflation each year.

    Here’s a summary of the main points, but you can read the full

    budget speech at the commons library - https://commonslibrary.parliament.uk/research-briefings/cbp-9748/

    Budget main points - see recording for full details.

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