
The Autumn Budget – Taxed And Spent
The Autumn Budget – Taxed And Spent After already increasing taxes by £42 billion a year in 2021, the main focus of …
Read moreMeasures of inflation are used by the Government to calculate levels of savings interest, state pension and benefits rates, business rates and to influence many other policy decisions.
As consumers it gives us all insight as to how rising prices will affect our investments and spending patterns in the short to medium term.
The Rate of Inflation is the change in prices for goods and services over time. The 2 main measures of Inflation used in the UK are CPI and RPI.
The average change is measured from month-to-month in the prices of consumer goods and services which make up both these indices.
RPI includes items which are removed from the CPI basket (see below), including estate agent fees, mortgage interest payments, buildings insurance costs and the cost of the TV licence.
As the RPI was held not to meet international statistical standards, since 2013 the Office for National Statistics no longer classifies it as a “national statistic”, emphasising the Consumer Prices Index instead.
However, the UK Treasury still uses the RPI measure of inflation for various index-linked tax rises and benefits. As a measure of inflation, it has been in usage since 1947 so allows for comparisons over time.
Consumer price indices are compiled using a large and representative sample of over 700 goods and services, and their price movements are regularly measured in approximately 20,000 outlets within the UK.
The items on the index are updated annually to reflect changes in consumer spending patterns. It’s particularly interesting to note the trends over the last two years.
In the update in 2021, 17 items were added including electric and hybrid cars, hand hygiene gel, men’s loungewear bottoms and smartwatches. And 10 items were removed including staff restaurant sandwiches and gold chains.
Additions to the update in 2022, included meat-free sausages, canned pulses, sports bras, pet collars and antibacterial surface wipes. Items removed this year included doughnuts, men’s suits and coal.
Interested in finding out more?
Seeking a second opinion on your financial future costs you nothing.
Simply call our friendly team on 00121 368 5624 or drop us an email to appointments@oaklandswealth.com to arrange a confidential chat.
Oaklands Wealth Management, founded by Helen Blackburn in 2004 advises clients around the Midlands on retirement planning, pensions & investments.
Her firm holds British Standard BS 8577 for client service & investment process.
Minimum investment is £500,000 (£650,000 for pension transfers).
The Autumn Budget – Taxed And Spent After already increasing taxes by £42 billion a year in 2021, the main focus of …
Read moreNo room for Budget giveaways in OBR risk report The Office for Budget Responsibility (OBR) has given Rishi Su…
Read moreIs it worth paying for an Independent Financial Advisor (IFA)? This will depend on your answers to 5 important question…
Read moreIt’s easy to move on from another advisor.
We’ll handle everything.
All that’s needed is for you to sign some letters of authorisation and we’ll do the rest.
None of your investments will be switched into new funds until you’ve agreed with our recommendations and you’re fully happy with any changes we propose.
British Standard BS 8577 Awarded Service
12 Month Money Back Service Guarantee
Lifetime Cashflow Planning
Risk Adjusted Personal Investment Portfolio
ISO 222222 Certified Financial Advisors
Monthly Fund Analysis
2 Investment Portfolio Reviews Per Year
“I had a number of separate pension pots which I’d built up over my career and I visited Oaklands Wealth for advice on consolidating them. The result has been an investment into a single personal pension which is producing far better returns than I had previously had with the separate pensions. All services and advice from Oaklands have been excellent.”
“Deciding to retire early I needed professional ongoing advice to navigate our financial future. Upon visiting Oaklands, the options were clearly explained and a risk analysis undertaken. Even during these strange times, regular reviews and conversations are taking place and I felt I made the right decision choosing Oaklands.”
No half measures. We don’t set it up then leave you all at sea. We manage your investments ongoing and hold ourselves accountable for steering you through your financial journey.
This phrase came from a client who said that’s exactly what we felt like to him, he said “you are like a friend or good neighbour who’s always got my best interests at heart.”
Whatever the reason you come to us we care. We really care. Like it’s our own money.
Tidying up bit and bobs of pensions and putting them neatly in a pot you have full control over.
Maybe transferring a final salary pension if your objectives are better met with your own pension.
Making sure you get all the tax efficiencies legally available to you to enhance your money.
Pointing the microscope on 3,000+ funds and finding the best ones to secure your retirement.