The Contrarian Investor: Osborne's clever (?) politics at work

Negative reaction to Budget

clock • 4 min read

Opinion polls suggested a mostly negative reaction to the latest Budget. It reinforced the impression the Chancellor is a follower of Blair and Clinton's philosophy of triangulation - tack to the centre by stealing the policies of both the right and the left.

Thus the left was ambushed by a sugary drinks tax, while the right was cock-a-hoop with the lower capital gains tax. Clever politics, perhaps (if you ignore Iain Duncan Smith's surprise resignation). But what is clear is the tax and accompanying tax wrapper system is becoming ever more complex and mystifying. Take ISAs. We now have the Lifetime ISA, which looks and feels like the future pensions system for the under-40s. Then there is the Junior ISA, the Innovative Finance ISA, the Cash ISA, the Stocks and Shares ISA, and the Help To Buy ISA. Before the decade is out, we will proba...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA's SDR regulation will 'make advisers sit up and listen'

FCA's SDR regulation will 'make advisers sit up and listen'

‘There has to be a fundamental re-educating of the adviser community’

Isabel Baxter
clock 30 November 2023 • 4 min read
Advice/guidance boundary review will help 'bridge advice gap'

Advice/guidance boundary review will help 'bridge advice gap'

The FCA’s latest update leads to mixed reactions from the industry

Sahar Nazir
clock 04 August 2023 • 4 min read
FCA review confirms investment pathways working 'as intended'

FCA review confirms investment pathways working 'as intended'

No changes to initiative but industry called to better support savers

Holly Roach
clock 12 July 2023 • 3 min read