Worldwide Financial Planning

You will have heard the investment terms: ‘not having all your eggs in one basket’, or ‘spreading your risk’. There is sense in that of course, and if your pension or investment valuations are currently coming through, you will know what that means.

The PM's U-turn highlights the weak position that Liz Truss and Kwasi Kwarteng are in - without solid support either inside or outside parliament - and makes the government more vulnerable to other rebellions.

The difficult week led one analyst note to conclude that foreign investors will view the UK as uninvestable while there is such chaos in the government.

We are all people who want to protect our families and our businesses. It is absolutely essential that you protect yourselves in the event of a key member of the family or business passing on. Financial trauma, on top of the trauma of losing a loved one is quite something.

This column is full of useful tips to insuring yourself.

This week we saw chancellor Kwasi Kwarteng‘s mini-budget crash the bond market and force the Bank of England to intervene and stop a number of final salary pension schemes collapsing. Tumbling gilt prices forced many pension schemes to dump gilts and other liquid assets as they scrambled to raise cash to meet demands for collateral as a hedging strategy commonly used by final salary schemes imploded.

Take advice from a mortgage broker or independent financial adviser. Falling into arrears will go against you, as it will reduce your credit rating, and, in turn, increase the cost of future borrowing. You can contact our Mortgage Director by emailing pgreene@wwfp.net. Read this column by Peter McGahan and join in our conversations over on Twitter @WorldwideFP and @Peter_mcgahan

Truss and chancellor Kwasi Kwarteng have opted for huge tax cuts as their method of jolting the UK into growth and these policies come straight from Thatcher’s playbook. However, the UK is no longer a high-tax economy with a very rigid labour market. Had Thatcher been in power today, would she have applied her 1980s’ policies to an economy that looks very different and faces a host of different problems?