If you are employed or run your own business, challenging times can affect your finances. It’s worth remembering though that wealth management planning can (more…)

As we enter 2018, there are signs that the British economy is healthy and should continue to grow in 2018.

When the vote to (more…)

The chancellor Philip Hammond has said that Britain is now the sixth largest world economy, having previously held a solid place in the top five.

The Office of Budget Responsibility has changed its growth forecast for the economy. It had previously stated that it expected the economy to grow by 7.5% over the next five years, but has now revised this down to 5.7%.

Although productivity has risen a little, it remains low and is not expected to significantly increase in the future. With no firm trade agreements yet decided and the amount that the government must pay to the EU before leaving not yet agreed upon, uncertainty over Brexit – which Cheshire West and Chester voted in favour of, but Liverpool and Wirral voted against – remains a factor.

Despite these negative indicators, Hammond remains optimistic and said:

“London is the number one international financial services centre. We have some of the world’s best companies. And a commanding position in a raft of tech and digital industries that will form the backbone of the global economy of the future. Those who underestimate Britain, do so at their peril.”

As the sixth largest world economy, Britain is still a large economic country, with many residents coping well financially. Stocks in UK and US companies are high, and with the help of an investment planner, good returns can be made by investing in British companies. Mark Dampier of investment shop Hargreaves Lansdown recommends putting a third of a person’s wealth in money, a third in shares and a third in bonds in order to protect wealth.

Sources used:
https://www.ft.com/content/81dc83be-c9e8-11e7-ab18-7a9fb7d6163e
http://uk.businessinsider.com/uk-economy-q3-gdp-brexit-2017-10?r=US&IR=T
http://www.bbc.co.uk/news/uk-politics-36616028

Mark Carney, Governor of the Bank of England, is encouraging banks and companies to show their support for the Task Force on (more…)

The Office for National Statistics (ONS) provides information about the Wirral economy, and its recent Wirral Labour Market Profile report (more…)

The Organisation for Economic Co-operation and Development (OECD) has revealed a somewhat gloomy outlook for the British economy up to 2019, predicting that UK economic growth will slow down to 1.1%.

Brexit was not blamed by the OECD for the slowdown, but the organisation presumes that there will be a transition period after Britain leaves the European Union in 2019 and this will have an adverse economic effect. The OECD slow growth forecast is based on low productivity, inflation, the weak pound and consumer debt.

Wage growth is less than inflation. In the short term, the OECD expects that this will cause more consumers to dip into their savings, bolstering consumer spending for a while. In the long term, however, consumer spending may slow down.

The slowdown in economic growth is not confined to the UK, however, with the OECD expecting growth to increase only marginally in most world countries.

Financial experts have stressed that the OECD forecast may not be accurate. As Samuel Tombs of Pantheon Economics said:

“Forecasting for the UK economy in 2019 really is complete guesswork.”

If more British businesses invest in expansion, the actual growth of the UK economy could higher than the OECD predicts.

Individuals can achieve little to affect the management of the UK economy or their local Chester economy., but they can have control of their own asset management and invest in financial products that increase the growth of their money beyond the growth level of the British economy.

INVESTMENTS – THE VALUE OF UNITS CAN FALL AS WELL AS RISE, AND YOU MAY NOT GET BACK ALL YOUR ORIGINAL INVESTMENT

Source used: http://www.telegraph.co.uk/business/2017/11/28/oecd-unveils-gloomy-outlook-uk-economy/

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