Monthly Archives: June 2023

Transferring wealth, your way

Posted on June 22 2023 by wpManager

With the coming years set to see record flows of assets pass down the generations, the thorny issue of wealth transfer has inevitably become an increasingly important financial topic. Seeking professional advice is a crucial step that can help ease … Continue reading →

Spring Budget Recap

Posted on June 1 2023 by wpManager

Jeremy Hunt delivered the Spring Budget on 15 March declaring it “A Budget for Growth.” The fiscal update included a range of new measures, but kicked off with the latest economic projections from the Office for Budget Responsibility (OBR): The … Continue reading →

Land driving surge in UK’s net worth

Recent data from the Office for
National Statistics (ONS) shows that the UK’s net worth rose by £1trn in 2021, to total £11.8trn, the largest annual increase on record (9.2%). This rise can be attributed to the increasing value of land, accounting for over 60% of net worth. Aligned with this, the data shows that households’ net worth grew to £12.3trn in 2021, 7.6% up on the previous year, representing the strongest growth since 2016. ‘Land continues to be the largest asset driving more than half of the sector’s growth,’ according to ONS.

Crypto clampdown

The UK government has unveiled plans to ‘robustly regulate’ cryptocurrency market activities like trading and lending by bringing the regulation of crypto assets closer to that of traditional
finance. The Treasury confirmed, ‘We remain steadfast in our
commitment to grow the economy and enable technological change and innovation – and this includes crypto asset technology. But we
must also protect consumers who are embracing this new technology – ensuring robust, transparent,and
fair standards.’

A consultation has been launched which runs until 30 April 2023; once legislation is made, the Financial Conduct Authority (FCA) will consult on its
detailed rules for the sector.

1. ONS, 2023

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