Our Views on the Markets and the Economy
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What is driving the outlook for interest rates, and how is this likely to unfold? One of the characteristics of the last year has been the extent to which there have significant swings in expectations about policy rates, driven largely by events in the US but echoed elsewhere.
China's economic landscape has undergone a profound transformation over the past few decades. Once defined by rapid industrialisation and export-led growth, the nation now faces structural adjustments, demographic shifts, and rising geopolitical pressures. The COVID-19 pandemic exposed vulnerabilities, particularly in the property sector, and policymakers are working to stabilise growth through a mix of monetary and fiscal measures.
Our CEO Charlotte Ransom regularly answers questions for readers of the i paper – helping them to better understand their investments and how to effectively plan their finances to achieve their long-term goals. Many of these questions are also highly relevant for Netwealth readers.
This column by our chief economic strategist Gerard Lyons appeared in The Times on Wednesday 20th November, 2024.
Throughout our lives we don’t always make the best decisions, especially when it comes to money. Cognitive and emotional biases often influence our financial choices, steering us away from making rational decisions. These biases, sometimes called ‘thinking traps’, can have long-term impacts, which is why it’s important to understand them and learn how to manage their effects.
After a hard fought race, the US electorate delivered their verdict on the last four years of a Democrat administration, with an emphatic win for the returning Donald Trump and the Republican party. Yet what does this victory mean for US assets? Will it be an echo of Trump’s first presidency from the 2016 vote, and how should investors respond to the impending change of leadership in the world’s leading economy?
Ahead of last week’s budget there was significant speculation as to what it could mean for financial plans and, in particular, pensions. This led to some people taking pre-emptive action.
The Chancellor began her Budget speech by putting it in a historic context, citing 1945, 1964 and 1997, three years in which Labour regained power in the post-war period. The only other year in which Labour also achieved that was 1974, and while the Chancellor did not cite this year it may be more appropriate than the others. The 1970s, like now, were a difficult backdrop for the economy, in an increasingly turbulent world.
This coming Wednesday, Rachel Reeves will deliver her first Budget as Chancellor.
This will be a Tax, Borrow and Spend Budget. I expect two major components: one being a change in the definition of debt, from Public Sector Net Debt (PSND) to Public Sector Net Worth (PWNW) that will permit higher borrowing to fund public investment; and second, increased taxes to fund higher public spending, focused on the NHS.
Our CEO Charlotte Ransom regularly answers questions for readers of the i paper – helping them to better understand their investments and how to effectively plan their finances to achieve their long-term goals. Many of these questions are also highly relevant for Netwealth readers.
Team Contributors
Gerard Lyons
Charlotte Ransom
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“I have a £1m house and £500k pension. How can I shield my children from inheritance tax?”
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“How can we limit the tax we pay when taking my partner’s £700k pension?”
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“My wife and I have £200k in our pensions. Are we on track for a good retirement?”
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I’m 68 and retiring soon. How can I limit taxes when I take out my pension?
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“How do I get the highest return taking the lowest risk on my £540,000 pension?”
Thomas Salter
Iain Barnes
Simon McConnell
In The Press
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