Active clients urge Chancellor to address key financial concerns in upcoming Autumn Statement

In October we surveyed a group of clients for their views on priorities for the Chancellor ahead of his Autumn Statement on 22 November.

The survey of 1085 clients, generated 120 detailed comments:

  • 42 per cent of clients feel less confident about their financial future now compared to the same time last year; only 7.5 per cent feel more confident.
  • 61 per cent consider financial security in retirement to be their greatest financial concern.
  • 12 per cent consider financial protection for their family to be their greatest financial concern.
  • 7 per cent are most worried about inheritance tax.
  • Clients’ top priorities for the Chancellor are: economic growth (29 per cent); tackling inflation (21 per cent); and healthcare (17 per cent).
  • Karl Pemberton, has written to the Chancellor, outlining the significant issues affecting his company’s clients, calling for them to be addressed in the upcoming Autumn Statement, scheduled to take place on 22 November.

MD, Karl Pemberton, has written to the Chancellor, outlining the significant issues affecting his company’s clients, calling for them to be addressed in the upcoming Autumn Statement, scheduled to take place on 22 November.

On financial security in retirement, Karl informed the Chancellor that many individuals are increasingly worried about the prospect of maintaining their desired standard of living in retirement. With the cost of living continuing to rise, he urged the Chancellor to explore measures that enhance pensioners’ financial stability in their retirement years. This includes options to encourage pension savings and provide incentives to safeguard retirement income. Additionally, he highlighted the impact of a poor investment market and economic growth in recent years on pension portfolios, which has affected many savers and investors.

In his letter, Karl also expressed the desire of the firm’s clients for an increase in personal tax allowances. A higher personal allowance would not only put more money back into the pockets of all consumers but also stimulate economic growth by encouraging consumer spending. The firm proposes an incremental increase in personal tax allowances to ease the financial burden on individuals and encourage investments in families, businesses, and the broader economy.

The survey also showed that the firm’s clients strongly support the redirection of funds to support infrastructure development in the North East. This strategic move, Karl says, not only holds the potential to generate jobs and stimulate local economies but also addresses regional disparities, aligning with the government’s commitment to ‘levelling up.’

“The forthcoming Autumn Statement is an opportunity to address the pressing concerns of our clients, who represent a range of political viewpoints, which are undoubtedly indicative of wider sentiment. The Chancellor has the opportunity to deliver an equitable and prosperous future against a challenging fiscal backdrop.” said Karl.

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