The following article is sad reading on the state of public finances and the British Government’s budget deficit http://www.moneymarketing.co.uk/politics/govt-borrowing-higher-than-expected-in-july/1056599.article The lower than expected tax receipts are a sign that the economy is weak. I see few signs that the economy will pick up in the medium term. I see no reason to think the quantative easing programme will end any time soon. Quantative Easing has done great harm to pensioners investigating their retirement options with either purchasing an annuity or income drawdown, as the interest paid on gilts has been artificially depressed. The sooner we return to growth and there is no need for quantative easing the better it will be for those baby boomers looking to retire in the near future.rnrnThis information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action.rn
