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'Golden economic period' to end?

17-01-2005 - Simmonds Ellis A recent economic report from City consultancy Deloittes has warned that the UK may be on the brink of a major slowdown in the economy. The report warns that with the housing market already slowing down, this will have a significant impact on the rest of the economy which has benefitted from housing market growth over recent years.Deloittes are forecasting 2% growth this year compared to Gordon Brown's forecast of 3 to 3.5%.( See December Newsletter)and for interest rates to fall 4% by the end of the year. Links: - news.bbc.co.uk/1/hi/business/4179067.stm - www.deloitte.com/dtt/press_release/0,1014,sid%253D2834%2526cid%253D70649,00.html

Pensions Crisis

04-01-2005 - Simmonds Ellis The Government appointed employers task force has found that nearly 10 million workers are not saving enough for their retirement. The task force has said that pension contribution levels should be between 10-15% of an employee's salary with two-thirds contributed by employers. The CBI continues to support the current voluntary system of contributions whereas certain unions are already calling for compulsory contributions from both employers and employees. Links: - www.employertaskforce.org.uk/publications/report-2004/press-release131204.asp - www.pensionservice.gov.uk