Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
Surprise surprise, King endorses regulatory shakeup
As Mervyn King attempts to build a regulatory empire the like of which we have not seen in the UK for many years he today endorsed the UK government's decision to strip the FSA of the majority of its powers and pass them back to the Bank of England. Despite the fact that the Bank of England will now be in charge of regulating individual banks, overseeing the regulatory system for the financial are...Read More
Will the UK economy really bounced back stronger?
Gordon Brown's suggestion that the UK economy will bounce back stronger than ever before has given some people hope in the UK but many are waiting for the proof behind the very upbeat forecast. The figures would suggest that the UK is currently weaker than it has been at any time in modern history and taxpayers and consumers are more concerned than ever before about the immediate outlook.
Pension Fund Deficits Are Rising
Those who saw the headline results from BT may have missed a small but telling comment towards the end which confirmed that the company's pension scheme had slipped into deficit and needs topped up. This could be the start of a season of shocks on the pension fund front with more and more companies struggling to keep up with funding requirements after disappointing investment returns. So what is...Read More
Will the HBOS saga ever end?
As the Scottish government continue to cause problems for the Lloyds TSB bank and HBOS merger this has attracted a furious response from HBOS which is accusing the Scottish government of using the company as a political pawn. Members of the Scottish parliament have been very vocal in their opinion that one or more alternative bids will appear over the next couple of weeks and this has a serious ch...Read More
Finally the government admit recession is likely
While the Bank of England had already softened the ground with suggestions that the UK is heading for a recession it was finally time for Gordon Brown to wake up and smell the coffee today as he agreed that a recession was a distinct possibility. However, he has admitted this at a time when the Tory Party is under severe pressure with regards to a suggestion that they attempted to arrange a party...Read More