4 June 2014
Brewin Dolphin wealth management provides their latestcomments following the Queen’s speech:
Ammo Kambo, Divisional Director of Financial Planningat Brewin Dolphin said,
“The Queen’s Speech, ultimately a formality followingmeasures initially proposed in the Budget in March, will no doubt reignitedebate around the key issues, but didn’t supply much additional insight.
“In the coming weeks and months, focus will fall primarilyon the reform of pensions. On the one hand, auto-enrolment is pushing youngerand lower-paid workers people towards a government incentivised scheme; but aspeople approach retirement, people are being allowed greater freedom andflexibility. The idea of collective schemes – which, despite the recent mediacoverage, was not specially mentioned in the Speech – seems to fly in the faceof the autonomy promised in the Budget. These collective schemes will arguablyoffer a middle ground, but until we receive additional clarification on exactlyhow this would work – for example, regarding tax reliefs, tax free cashentitlements, lump sum death benefits – it is difficult to visualise how thesemight fit into an individual’s retirement planning.”
Iain Armstrong, Equity Analyst at Brewin Dolphin said,“The requirement that all new housing must be 0% carbon standard, whilstwelcome from an environmental perspective, will not however be cheap to apply,which threatens to undermine the promise of more affordable housing. As such,this measure could be regarded as a modest incentive for the house buildingsector since it is likely to push average prices higher – so house builderswill stand to benefit from the additional revenue, in addition to allowing themto include costlier insulation in the houses.”
-ENDS-
The opinions expressed in thisarticle are not necessarily the views held throughout Brewin Dolphin Ltd. NoDirector, representative or employee of Brewin Dolphin Ltd accepts liabilityfor any direct or consequential loss arising from the use of this document orits contents.
No investment is suitable in allcases and if you have any doubts as to an investment’s suitability then youshould contact us.
Any tax allowances or thresholdsmentioned are based on personal circumstances and current legislation which issubject to change.
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