Uncertain Times

Uncertain times in the financial markets.

Covid, Ukraine, Gaza, and the high price of the basics of food and fuel. Public service strikes and disruption to services, hospital waiting lists, illegal immigration, and the inability to find workers willing to work. A slump in stock market values and unusually a collapse in bonds at the same time.

Local government operations becoming insolvent with a desperate need for additional central funding, but where from? The country has a poor balance of payments whilst enduring one of the highest taxation rates since the sixties.

Just the right time to have an election and let a new team get their hands on the levers of power with the “exciting” new prospects of renationalising fuel, transport, and utilities. Why then is the rest of Europe moving to the right in their political travel, looking to reduce costs, become more efficient and face up to the slightly uncomfortable times we are going through to ignite growth in the economy?

Possibly because their political cycle has taken them through the big state, left wing centralist governments and they have lost faith in the prospect of it working. Our cycle has taken an opposite trajectory and through a series of bad decisions and appalling management both actual and media interpreted, we have or are about to lose faith in our capitalism as a solution.

Who is going to be right, I don’t think it matters. There is so little room for fiscal manoeuvre for whomever wins the forthcoming election, we are likely to have to let this whole set of circumstances play out with a different set of faces, though I feel the outcomes won’t be that much different.

With a wider view of global issues, we see the investment markets stabilising and moving forward. We interpret this as pricing in the significant issues in Ukraine, Gaza, climate change etc. and looking forward to the future. We have no way of telling but it does look like the potential end to a downward spiral.

So, in such uncertain times, what do you look for from your financial adviser? At Rutherford Hughes, we believe we should have a view but more importantly to listen to yours.

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If you are seeking financial advice from experienced approachable advisers who will listen to what you are looking for, visit rutherfordhughes.com or email: contactus@rutherfordhughes.com

Tax advice is not regulated by the FCA, and legislation is subject to change. The value of investments can fall as well as rise and capital is at risk. Rutherford Hughes Ltd. is authorised and regulated by the Financial Conduct Authority. Rutherford Hughes Ltd company registration no: 10431722. Country of registration: England. Office & Registered Office address: Collingwood Buildings, 38 Collingwood Street, Newcastle upon Tyne, NE1 1JF. April 2024.


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