Government debt tops £2TN

Extract from Redwood Financial’s Economic Review August 2020 The latest public sector finance statistics revealed government debt breached the £2tn mark for the first time amid heavy spending designed to support the economy through the COVID-19 pandemic. Figures released by ONS show that UK public sector net borrowing (the gap between the country’s overall income…

Continue Reading

Retail sales climb back

Extract from Redwood Financial’s Economic Review August 2020 Official data shows that retail sales rose above pre-pandemic levels in July as a strong rebound in consumer demand continued. According to the latest set of statistics, retail sales volumes grew by 3.6% in July compared to the previous month’s figure. This maintained the strong recovery since…

Continue Reading

Markets:

Extract from Redwood Financial’s Economic Review August 2020 (Data compiled by TOMD) Major benchmarks ended August in positive territory. US stocks hit record highs at the end of the month after Federal Reserve Chairman Jerome Powell outlined the central bank’s inflation control measures and strategy for avoiding future crises at the virtual Jackson Hole Economic…

Continue Reading

Bank of England ‘considering’ negative rates

Extract from Redwood Financial’s Economic Review August 2020 The BoE left base rates unchanged following the latest meeting of its Monetary Policy Committee (MPC) but stated that it was ‘currently considering’ the case for cutting interest rates below zero. At a meeting held on 4 August, the MPC voted unanimously for no policy change, with…

Continue Reading

Faster rebound; slower recovery

Extract from Redwood Financial’s Economic Review August 2020 As recent economic statistics confirm the UK officially entered recession, Bank of England (BoE) forecasts suggest the slump will be less severe than previously thought, but the ensuing recovery is likely to take longer. Data released by the Office for National Statistics (ONS) showed the economy shrank…

Continue Reading

Homeowners to benefit from £2BN green homes grant

Extract from Redwood Financial’s Residential Property Review July 2020 Property owners could benefit from grants to make their homes more energy efficient from September 2020. Announced on 8 July in the Chancellor’s Summer Economic Update, it comes as part of a £3bn plan to cut carbon emissions and meet sustainability targets. The Green Homes Grant…

Continue Reading

Increased demand for new builds post lock-down

Extract from Redwood Financial’s Residential Property Review July 2020 Interest in newly built properties has surged by 66% since the reopening of the property market in May – higher than before lockdown began. Property website Zoopla recorded the jump in the six weeks following 13 May, the day the housing market reopened for business. The…

Continue Reading

Nationwide Tax Breaks

Extract from Redwood Financial’s Residential Property Review July 2020 After the Chancellor’s announcement of a Stamp Duty holiday for England, Scotland followed suit with a Land and Buildings Transaction Tax (LBTT) holiday that will see the threshold temporarily rise from £145,000 to £250,000. The changes to LBTT will mean that an estimated 80% of buyers…

Continue Reading

UK Housing Market shows initial signs of recovery

Extract from Redwood Financial’s Residential Property Review July 2020 The number of prospective home buyers bounced back ‘noticeably’ in June, as did enquiries, agreed sales and instructions, according to the latest UK Residential Market Survey from the Royal Institution for Chartered Surveyors (RICS). While the impact of lockdown is clearly still being felt, with 12-month…

Continue Reading
AquAid Elephant pump in Zimbabwe

Redwood drinks to AquAid’s involvement in Africa.

At Redwood Financial we’re aware that keeping our staff members hydrated will aid them to perform at their very best throughout the work day. As a result, we decided to invest in watercoolers from AquAid. Our unique relationship with AquAid has also given our company the opportunity to help those less fortunate than ourselves, because…

Continue Reading