The Bank of England warned of a pension fund crisis five years ago by Next

The Bank of England warned of a pension fund crisis five years ago by Next

“There is systemic risk in the UK financial system that nobody has done anything about – it is not properly regulated.” The LDI market has grown rapidly over the past decade and is now worth nearly £1.6 trillion, according to the Investment Association. In 2011 it was only about £40 billion. Lord Wolfson’s decision not…

Liz Truss is venturing into uncharted waters – without the support of the Bank of England

Liz Truss is venturing into uncharted waters – without the support of the Bank of England

As well as the bank moving from a big buyer to a big seller, there are signs that foreign investors are less willing to hold the pound than they once were. The pound fell by more than the euro against the dollar. Bank of England data suggests overseas investors sold gilts in July at nearly…

Liz Truss under pressure to drop ‘unaffordable’ triple lock

Liz Truss under pressure to drop ‘unaffordable’ triple lock

Carl Emmerson of the Institute for Fiscal Studies research group said that while there were reasons to protect pensioners in the short term, such large increases would make the triple lock too costly. He said: “The triple lock is expensive in the long run and will therefore have to be removed at some point.” Over…