Friday, November 26, 2021

Andrew Bailey's Murky Job


The Bank of England governor, Andrew Bailey, has said the difference between providing commentary on the state of the economy and what the central bank is likely to do with interest rates is hard to define.

“The boundary between a commentary and guidance is quite murky, actually, when you think about the words we use,”

The Bank shocked financial markets this month when it kept interest rates on hold at their pandemic lows. Investors had interpreted remarks made by Bailey in October as a signal that rates would rise at the November meeting of the monetary policy committee.

The next decision is due to be announced on December 16.

Answering questions, Bailey said there were three forms of forward guidance and the one that was currently in use was “not so much forward guidance as a reminder of where we are”.

He then went on to blame his predecessor for the confusion.

He said the system put in place by his predecessor, Mark Carney, “is pretty hazardous [and] more hazardous in a more uncertain world”. In 2013, Carney told markets that the Bank would consider raising interest rates when unemployment fell to 7 per cent.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

No comments:

Post a Comment