Government cuts: The effect on protection and health sales

clock

The Government has announced a policy of cutting across all departments. Peter Barnett assesses what this regime of a thousand cuts means for the protection and health intermediary

When Cat Stevens wrote The First Cut is the Deepest in 1967 he could not have known that 43 years later he would be proved so wrong. In fact, the recent Budget showed that to combat the huge fiscal burdens we face, our new Government plans to cut and cut again at the public sector – and if the medicine doesn’t appear to be working then the next cut may well be much deeper than the last. In his budget George Osborne predicted a very hard ride ahead for all of us, particularly in terms of Public Sector jobs, and went on to suggest he is actually looking at cutting the welfare bill by more ...

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 Protection

The FCA Protection Market Study: What it means for intermediaries

The FCA Protection Market Study: What it means for intermediaries

'The FCA's review could lead to changes for intermediaries'

Kris Armstrong
clock 09 May 2025 • 4 min read
PA360: 'The way we talk about protection has moved on'

PA360: 'The way we talk about protection has moved on'

Consumer Duty has increased interest from IFAs and wealth managers

Jenna Brown
clock 02 May 2025 • 4 min read
The return of redundancy cover – and why it's important

The return of redundancy cover – and why it's important

Standalone unemployment insurance is making a comeback

Kesh Thukaram
clock 02 April 2025 • 3 min read