Bank of England loose cannon

In the past the Bank of England has usually confined its public utterances to periodic pronouncements from the Governor,and has disdained to engage in populist discussion. However, its chief economist, Andy Haldane, has recently broken cover, with results which do little to enhance the Bank’s reputation. Last Autumn, Mr Haldane admitted that he did not […]

HMRC’s ‘snooper computer’

Parents wishing to give their children the benefit of a private education face startling costs. The average fee for a boarding school is over £30,000 a year for a single pupil, and for day pupils over £17,000. Then there are the costs of extras such as clothing and equipment. After school, the costs of university […]

Independent advice

The British Steel Pension Scheme is closing and members have been asked to choose between either moving their rights into the government’s Pension Protection Fund or transferring into a new British Steel scheme. However, many members have been advised to consider a third alternative, namely requesting a valuation of their rights with a view to […]

School fees planning

Parents wishing to give their children the benefit of a private education face startling costs. The average fee for a boarding school is over £30,000 a year for a single pupil, and for day pupils over £17,000. Then there are the costs of extras such as clothing and equipment. After school, the costs of university […]

The writing on the wall

HM Treasury has issued a new factsheet titled “Ways to save in 2017”, which describes Premium Bonds and the various forms of ISA but omits any reference to pensions. A similar factsheet issued in 2016 contained no such omission, and this has prompted suggestions that the government may be seeking to position ISAs – and […]

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Bank of England loose cannon

In the past the Bank of England has usually confined its public utterances to periodic pronouncements from the Governor,and has disdained to engage in populist discussion. However, its chief economist, Andy Haldane, has recently broken cover, with results which do little to enhance the Bank’s reputation.

Last Autumn, Mr Haldane admitted that he did not understand pensions, and he subsequently underlined his ignorance by suggesting that property represented a better method of providing for retirement than pensions.

In his latest comments, Mr Haldane has succeeded in antagonising members of his own profession (or is it an art or a science?) by effectively apologising for the Bank’s doom-mongering in advance of the Brexit vote and saying that economists’ predictions are often wrong