View more on these topics

Darling accused of underestimating crunch risks

Chancellor Alistair Darling is under fire for underestimating the risks posed to the economy by the liquidity crisis.

The Treasury Committee has told the chancellor that the Treasury may have given insufficient weight to the risks of financial market turbulence when formulating its forecast for economic growth.

John McFall, chairman of the committee, says: “The Treasury’s forecast for economic growth in the next two years is more optimistic than the consensus view. And critical to this forecast is its estimation of the resilience of the economy to market shocks.”

McFall warns that some of the sectors that have kept the economy growing during the past decade – including mortgages – may run into problems and the 2008 Budget fails to fully recognise this fact.

He adds: “There are some significant downside risks to the economy and therefore to tax receipts.

“The government will have to be particularly vigilant when it comes to managing public finances from now on if it wants to maintain its record of ad-hering to its fiscal rules, which has been good so far.”


Brokers could benefit from squeeze

Soon there will be few lenders looking for new business but brokers have a vital role to play by finding the best mortgages still available to borrowers, says Sue Read

Mortgages for Business urges brokers not to overlook packagers

Mortgages for Business is advising brokers to make the most of packagers in the Current Market ClimateMortgage brokers struggling to place cases can save time, add value for clients and maintain client relationships if they go to the right packager says Mortgages for Business.The latest figures from the Council of Mortgage Lenders have revealed a […]

Wave modifies product range

Wave has revamped its mortgage range. Its buy-to-let rental income calculations are now set at 120% of the reversion rate and its maximum loan size has fallen to 300,000. The lender has also withdrawn its near-prime rates.

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]


News and expert analysis straight to your inbox

Sign up