The Bank of England has signaled its intention to raise interest rates, and other central banks, including the US Federal Reserve, are likely to be making a similar response to rising inflationary pressures.
The government is considering including pension and insurance products in the scheme which it established in 2011 for diverting to charitable causes holdings in bank and building society accounts which have been dormant for at least 15 years.
The previous Chancellor, George Osborne, reduced the annual and lifetime allowances
for pension savings and at the same time increased the allowance for Individual Savings Accounts (‘ISAs’).
This led many to assume that he intended that in the long term ISAs should become the principal means of saving for retirement.
Care home chains are in trouble. Demand for places is increasing with longevity and the rising number of cases of dementia, but funding is predominantly dependent on Local Authorities, whose own stretched resources are limiting their ability to pay and leading to their demanding places at below their cost price.