Denis Hay’s Post

As the UK approaches a general election, it is crucial for households to be aware of how the proposed policies from major political parties could affect their financial health. In our latest analysis, we explore the economic consequences of the manifesto pledges from the Labour Party, the Conservative Party, the Green Party, and the Reform UK Party.

The government is banking on economic growth to boost funding for public services. The problem is that a local government sector that is standing at the financial precipice can't wait that long - and in the meantime, under-funded public services will be a brake on the very economic growth that is needed. My briefing for Local Government Chronicle #politics #funding #localgovernment #labour https://lnkd.in/eAbkJeMc

My attempt to explain how and why the local government financing crisis has happened, what it means now, and what it could mean in the long-term. https://lnkd.in/eE73Z-tK

Britain’s next government faces a significant challenge as a thinktank warns of a £33bn hole in public finances. The Resolution Foundation cautions that without addressing this gap, severe austerity measures may be inevitable. The current debate on funding election pledges is deemed detached from reality, with promises reliant on challenging cuts. Stay informed: [Link to the full article here]. #UKGovernment #PublicFinances #Austerity #ElectionPromises

Most people look at their retirement and they count Social Security as their core source of income. The other forms of income they have from savings, they consider supplementary. Don't It needs to be the other way around. At this point, it's almost mathematically impossible for the government to keep making ample Social Security payments over the next several decades. It doesn't mean Social Security will disappear because that would be too politically excruciating, and would cause a lot of politicians to lose their jobs. Rather, the most likely thing is they will find a way to water down the payments slowly, slowly by just making sure they don't keep up with inflation. So the most advisable course of action is to consider your own savings and your own income from your private wealth to be your core retirement fund, and Social Security as the supplement. Something nice to have if you get it, but not something that's going to make or break you either way. If you really think you can depend on the government you could be in for a world of pain. #Nationaldebt #Budgetdefecit #CPI #Inflation

Capital Gains Tax and the Changing Political Landscape: What You Need to Know With upcoming changes to Canada's capital gains inclusion rate, it's essential to understand how this might impact your financial planning. From early savers to business owners, and even those selling secondary properties like a family cottage, there are strategic steps to minimize tax exposure. Whether you're planning for growth, retirement, or passing on a family asset, staying informed about these changes can help you protect your wealth. https://wix.to/o3UCDC4 #CapitalGains #WealthManagement #TaxPlanning #FinancialPlanning #RealEstate #FamilyLegacy #BusinessOwners #EstatePlanning #CanadaFinance #Investment

https://lnkd.in/gpatfpTT "If #Victoria is the nation’s economic basket case, #Queensland is not far ­behind #Queensland now rivals #Victoria as a hot-bed of shady #government dealings, where a ruling clique of ministers, staffers and paid lobbyists further their private interests with little or no oversight. The #Palaszczuk-Miles government’s record of #fiscal #mismanagement, while not as dire as #Victoria’s, is clear for all to see. During its time in office, it has greatly expanded the states’ already-huge public service, recklessly increased spending and allowed the state’s debt to balloon by an expected $14bn to $92bn. If coal prices had not shot up in the aftermath of the pandemic, flooding public coffers with windfall revenues, the state’s financial position would be much worse." #Labor cannot manage our economy or money. #labor #victoria #queensland #federal #albonomics

The first manifesto release of the election period is here! It's the New Economics Foundation list of five ways the next government can build a strong economy for all: 1. Replace the fiscal rules and unlock serious investment in our crumbling social infrastructure 2. A living income, ensuring nobody falls below the level required for a decent standard of living 3. A National Energy Guarantee, providing everyone with free essential energy covering their basic needs 4. A revolution of social/council home building 5. An emergency funding boost to restore local government's ability to deliver high quality local services

According to The Australian Financial Review, the federal government is expected to use any surplus in the budget to tackle the cost of living crisis through energy, child care, and rent subsidies while also considering the Reserve Bank of Australia's path to cutting interest rates. REGISTER: Find out more about how the Federal Budget will impact businesses (and brokers) from a panel of finance specialists:  https://lnkd.in/gpNUWJzt Phil Quinlan KPMG Anthony Landahl, Mortgage and Finance Broker Equilibria Finance Matthew Porch Aquamore Finance Richard Planca Nariné Kalloghlian Lewis Miles Natasha Lea Michael Rhee Darren McLeod Brett Winzer Jon Corbett Emily Jack Michael Riddiford Victoria Graves #mortgagebroker #financebroker #privatelender #commercialfinance

Facing the daunting task of finding an extra £16 billion to fulfil the UK government’s promises, Chancellor Rachel Reeves must balance tight restrictions on borrowing, spending, and debt. The Institute for Fiscal Studies (IFS) warns that without tough decisions, public services could face cuts. With higher post-pandemic debt, inflation, and an ageing population, Reeves may need to look towards higher earners to shoulder more of the tax burden. This Budget could shape the UK’s economic future—stay tuned for the impact! 🚀📊 #UKBudget #EconomicPolicy #Leadership #TaxPolicy #FiscalChallenges