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As Charlotte Ransom, of wealth manager Netwealth says, the “issue is about education, rather than eliminating a useful element of a tax efficient investing tool”.
Isas are one of Britain’s rare financial success stories.
Tom Kimche, head of advice at Netwealth, notes: “Many clients treated their pension as an IHT-efficient asset which means they either earmarked it for the next generation, or they delayed drawing upon it as, if they passed away prematurely, it could pass to their children IHT free.”
Gerard Lyons features on BBC R4 Today
Gerard Lyons, a British economist and senior independent director at the Bank of China (UK), echoed that opportunities lie ahead for China’s economy. “There is often disconnect between external views and what is happening within China, in the sense that expectations about the economy in China last year are probably more cautious globally than they needed to be,” he told China Daily.
"China and the UK demonstrate the ability to develop bilateral relations while remaining mindful of the broader geopolitical backdrop," Lyons said.
Iain Barnes at Netwealth said most investors were still sceptical of buying British bonds given the state of the economy. He said: “Markets are no longer giving the UK Government the benefit of the doubt and a weakening sterling is a sign of no confidence. “Expected returns from gilts are increasing, but we are not at this moment dialling up our allocation.”
Steph and Robert are joined by Dr Gerard Lyons, an influential economist and Bank of China board member, to discuss whether Rachel Reeves is wise to ask China to invest in the UK, whether the Chancellor will need to come back for more tax rises later this year and what he really advised Liz Truss to do.
IAIN BARNES, CHIEF INVESTMENT OFFICER, NETWEALTH: "Anyone who has been positioning portfolios really to build into the outlook for UK growth will be worried that the Chancellor is going to find other ways to increase the tax take again. Anything with clear UK-factor exposure as well… anything that's trading off the confidence in the UK market combined with interest-rate exposures, has really struggled, so we're avoiding those areas completely. You saw smaller companies in the UK get hit particularly hard, we're focusing more of our exposure up at the long end."
