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."
Labour government ministers attack banking bosses
In one of the most obvious cases of "locking the stable gate after the horse has bolted" the UK government has turned on the banking sector accusing directors of excessive bonuses and over rewarding themselves. However, if you take a step back 24 months you will see that the Labour government was very happy to cosy up to the UK banking sector when requiring funds to cover PFI projects and other go...Read More
Lloyds faces a £200 million hit after property company collapse
Lloyds bank today stands on the verge of a potential £200 million hit after the collapse of Thornfield Ventures. This is an operation which was backed by Lloyds bank's HBOS division to the tune of around £500 million. The main parent company and three subsidiaries are now in administration with a potentially enormous loss on the cards for Lloyds bank. Even though there has been some recovery...Read More
IMF predict £7bn deficit by 2020
16/04/2015 The International monetary Fund (IMF) believes that the UK will still be in deficit of £7 billion by 2020, even though the Office for Budget Responsibility (OBR) predicted at the last budget a surplus of £7 billion. The IMF has highlighted the challenges faced by the next government to reduce the deficit (the gap between what the government spends and what it gets in income, ma...Read More
Is it time to move back into the UK residential property market?
Many investment advisers will have experience of very difficult market conditions but few will have encountered anything like that which we are seeing today. However, even though nobody is exactly sure when the UK residential property market will turn many people believe that one of the best signals that a market is bottoming out is when every single investment "guru" is negative on a particular a...Read More
If Alistair Darling was unable to forecast the recession what chance have we got?
The future of Alistair Darling in his position as Chancellor of the Exchequer is under serious pressure this evening amid accusations that if Alistair Darling was unable to forecast the recession what chance does the rest of the UK government have?
The position of Chancellor of the Exchequer is a vital cog in the everyday life of the UK economy and UK business arena. The suggestion...