MONDAY, MARCH 13TH, 2017

Is the 2017 Budget bond just a government tick-box?

← BLOG - Is the 2017 Budget bond just a government tick-box?

Chancellor Philip Hammond’s spring budget on Wednesday 8 March was met with disdain by most people, however there was some light relief to it, according to Milestone Financial Planning.

Michael Heath, Director of Milestone, said: “It was a very safe budget and I am particularly relieved that there were no further announcements on pension changes.”

As part of the budget, the Chancellor did announce a new three-year NS&I “Investment Guaranteed Growth” bond which will pay 2.2% on up to £3,000. and will be available from April 2017.

Commenting on the new bond, Michael said:  “The new NS&I 3-year Fixed Rate Bond paying 2.2% interest on £3,000 savings is not as competitive as it was made out to be in the Autumn Statement, but the increase of the ISA allowance to £20,000 on 6 April should help savers.

“However, with personal debt now standing at £1.5 trillion, will some people have the money to save? The NS&I Bond feels like the government is simply ticking a box for savers to appease them.”

You can read the full budget round table special here 

For help and advice with your investments, get in touch with an independent financial advisor at Milestone Financial Planning.

Craig Croft-Rayner

Craig Croft-Rayner Craig is a Director and Financial Planner with 5 years of dedicated experience in the finance sector. Craig's commitment to excellence is evident as a proud member of the Chartered Insurance Institute and holds a diploma from the Personal Finance Society (PFS). He is currently undergoing training to achieve the esteemed Chartered Financial Planner status. Craig is passionate about empowering individuals to make informed financial decisions and achieve their financial goals.

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