The Government Actuary’s Department (GAD) said the state pension fund, which is funded by national insurance contributions is under considerable strain due to Britain’s ageing population (Tax).
The GAD believes that “class 1” contributions from employers and workers need to rise from the current 22 per cent to 27 per cent by 2035. This would result in national insurance contributions from these groups raising from £90billion to about £113billion (Tax).
An antidote to Blue Monday
AS the Christmas becomes a distant memory, and we peak at the festive bills (and the festive bulge) some bright sparks have dubbed the 15th January ‘Blue Monday’ where a series of forces coalesce to make us all feel incredibly sad. The FT provides an antidote in the form of some useful money saving tips to combat the woe if you’re looking at a holiday, namely 1) clearing your cookies that holidays and travel companies used to raise the price 2) Never buy an excess waiver from a car hire company 3) make sure you book your travel insurance to start the day you buy your holiday.
Sterling in 2018
The Euro is unlikely to post large gains versus the British Pound in 2018 according to experts as they set out their forecasts for coming months. There is certainly a more constructive tone to forecasts for the Pound at the start of 2018 when compared to the same time – Its revival, currency analysts say, reflecting growing optimism in the markets about a “soft” Brexit. The Times point out though that Sterling remains vulnerable in this environment and that the rollercoaster has a long way to go.
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