February’s UK public finance data, published on Friday, showed the government borrowed £10.7bn. That’s £4.2bn more than the Office for Budget Responsibility had estimated, and the fourth highest borrowing for a February since records began in 1993 (the three others occurred during the global financial crash and covid).
When the FCA’s thematic review of retirement advice landed last March, most advisers could be forgiven for breathing a sigh of relief. All things considered, it was fairly benign, with more examples of good practice than bad.
But, as the review highlighted, the issue of delivering a sustainable income in retirement is becoming increasingly pressing.
February’s UK public finance data, published on Friday, showed the government borrowed £10.7bn. That’s £4.2bn more than the Office for Budget Responsibility had estimated, and the fourth highest borrowing for a February since records began in 1993 (the three others occurred during the global financial crash and covid).
A trade storm is brewing between the United States and China, threatening to shake up the global economy. US President Donald Trump has announced a new 10% tariff on Chinese imports, set to take effect on March 4. Coming shortly after earlier duties imposed this month, this latest move—linked to concerns over drug flows from North America—took both nations by surprise. China’s Ministry of Commerce responded swiftly, pledging to use “all necessary measures” to protect its interests. This back-and-forth has sparked worries of a full-blown trade war between the world’s two economic powerhouses.
It’s hard to believe it’s been two years since we introduced our Select Retirement Income (RI) and Retirement Income Plus (RI+) portfolios in February 2023, with the aim of expanding the options for investors in decumulation.
The shortest month of the year certainly didn’t feel brief as markets lurched in response from one geo-political drama to another. US markets took the brunt of the damage as Trump’s proposed (and delayed for now) tariffs on Mexico and Canada led to inflation fears. Consumer confidence numbers didn’t help matters, and lingering fears over the sustainability of earnings from big US tech stocks saw the NASDAQ suffer its biggest monthly decline in ten months.
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