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Rishi Sunak extends furlough scheme for another month

Chancellor Rishi Sunak has extended the furlough scheme for one month until the end of April next year. He said the move would provide “certainty for millions of jobs and businesses”. It means the government will continue to pay 80% of the wages of workers who have been furloughed. Mr Sunak also confirmed he would […]

FCA warns on overseas advisers targeting Sipp transfers

FINANCIAL SERVICES The Financial Conduct Authority has warned that some overseas advisers are targeting consumers, advising them to switch their UK pension into an international self-invested personal pension. The City watchdog says this could expose consumers to high and unnecessary charges and urged those approached by an adviser in these circumstances to ensure they understand […]

Vaccine success boosts UK economic outlook

In evidence to the House of Commons Treasury select committee on Monday, the Bank of England’s chief economist Andy Haldane said news of three successful coronavirus vaccine trials meant the UK’s economic outlook was brighter than the Bank’s forecast earlier this month. However, he warned against the public dropping its guard triggering a third wave […]

NS&I rate cuts fail to deter savers

Over 50% of National Savings & Investments customers plan to remain with the Treasury agency despite an announcement that drastic cuts will be made to its savings accounts this week. Laith Khalaf of AJ Bell remarked: “Millions of savers could be in for a nasty shock when they wake up and smell the swingeing rate […]