Five questions the UK’s autumn statement needs to answer
By Kirsten Hastings, 9 Sep 16
With a date of 23 November now set for chancellor Philip Hammond’s first autumn statement, AJ Bell senior analyst Tom Selby has outlined five questions Hammond needs to answer when he takes to the despatch box.
The government’s plans to allow people to sell their annuities look shaky at best. Crucial details about how the market will be regulated and the operation of the advice requirement are still missing, while willing buyers and brokers appear thin on the ground.
We have long harboured concerns both around the sustainability of a secondary annuity market and the risk savers who do cash in their plans will get a poor deal – possibly for the second time.
That said, the policy is likely to appeal to older voters and chancellor Hammond may be unwilling to further delay the start date of the reforms.
