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BUDGET 2009: Darling predicts GDP to fall 3.5% in 2009

The chancellor Alistair Darling says he predicts UK GDP to contract by -3.5% in 2009.

In his second Budget speech, Darling says growth dipped -1.6% in the final quarter of 2008 and he anticipates a similar amount to fall in Q1 2009.

But he says he expects the economy to grow by 1.25% in 2010 and 3.5% in 2011.


S&P’s introduces risk-adjusted capital framework

Standard & Poor’s Ratings Services is introducing a risk-adjusted capital ratio for financial institutions.Bernard de Longevialle, credit analyst at S&P, says: “The RAC aims to provide a globally consistent and independent view of capital adequacy for each of the financial institutions we rate. “In our view, other risk-adjusted capital measures are increasingly issuer-specific–potentially making it […]

A&L expands range of fees-free products

Alliance & Leicester is extending its range of fees-free mortgages with the launch of three and four-year fixed rate remortgage and home buyer deals available up to 75% LTV.

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


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