Member Info for hardup

"The only way to stop them is to make the country a really unattractive place to live and work and that will not happen."

A lot of peeps would argue that has already happened because of migration.

Rachel Reeves’s tax hikes in the Budget will hit working people, a former Bank of England governor has warned.

Lord Mervyn King, governor of the Bank of England for a decade until 2013, said the debate around Labour’s claims that it was not increasing taxes on working people was a “terrible illusion”.

He also warned that proposals to increase employers’ National Insurance (NI) contributions by as much as two per cent would hit workers’ wages and threaten firms’ job creation plans.

The Chancellor and Sir Keir Starmer have denied the NI tax hike will breach their pledge not to raise income tax, NI or VAT on “working people” as it is targeted at employers rather than employees.

However, speaking on Sky’s Sunday Morning with Trevor Phillips, Lord King said: “All this debate about not putting up taxes on working people is a terrible illusion, really.

Link to the full article:

https://www.msn.com/en-gb/money/other/rachel-reeves-s-tax-raid-will-hit-working-people-says-former-bank-of-england-governor/ar-AA1t0LT3?ocid=finance-verthp-feeds

Denby, yes, once your money is invested in an ISA any income or capital gains generated are tax free. At the moment there is no limit as to how much you can have in your ISA. There are a number of ISA investors who now have in excess of £1m in their ISA account. There is fear that Rachel Reeves may tinker with this at the budget this week.

Denby, do you mean ISA? I'm not sure what you are trying to say when you say you used this years tax allowance which was added to your ISA? Everyone has an annual ISA allowance of £20,000, so you can invest that amount every year into your ISA. Income and/or capital gains within an ISA are tax free.

"I think that was the Russians, don't believe everything Hollywood tells you"

Who armed/supplied the Russians through the North Atlantic convoys?

And no doubt Martin Lewis will be getting his sticky fingers into the pie by hyping this up even more in the coming days!

After 171 trading days, buyback complete to date:

Total shares to date....................................................3,000,749,558

Aggregate cost to date... ............................................£1,625,001,236.94

Average price paid to date..........................................54.1532p

Percentage of £2 billion buyback completed............81.25%

Lti

I'm still none the wiser. Never mind.

Lti

What is a forward SB? Please explain in layman's terms what that is and how that works?

Lti......"JUNE forward opened at 62.24"

What is that?

FCA statement on Court of Appeal judgment in Hopcraft, Johnson and Wrench.

We note the Court of Appeal judgment on motor finance commission and are carefully considering its decision.

In January, we introduced a pause to the time firms have to provide a final response to customers about motor finance complaints involving a discretionary commission arrangement (DCA).

We did this to prevent disorderly, inconsistent and inefficient outcomes for consumers and knock-on effects on firms and the market while we review whether motor finance customers have been overcharged because of the past use of DCAs.

In September, we extended the pause, in part, so we could account for the outcome of legal cases that may be relevant to our review.

We note the Court of Appeal judgment on 25 October 2024, in Johnson v Firstrand Bank Ltd, Wrench v Firstrand Bank Ltd and Hopcraft v Close Brothers Ltd, and are carefully considering its decision.

https://www.fca.org.uk/news/statements/court-appeal-judgment-hopcraft-johnson-wrench

Todays fall should see larger volumes bought for the buyback.

Sheltie - it indeed looks attributable to the Close Brother news. Lloyds fall started shortly after Close Brothers SP fell. Close Brothers has fallen -15%. so far.

Profit taking before the budget.

🥱🥱🥱🥱

Richie1655.......page 7 of 14 from Q3 2024 Interim Management Statement.

"The Group recognised remediation costs of £124 million in the first nine months (nine months to 30 September 2023: £134 million), largely in relation to pre-existing programmes, with no further charges in respect of the FCA review of historical motor finance commission arrangements. The FCA confirmed in September 2024 its intention to set out next steps in its review in May 2025, including its assessment of the outcome of the Judicial Review and Court of Appeal decisions involving other market participants; the Group will assess the impact, if any, of these decisions."

https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/lloyds-banking-group-plc/2024/q3/2024-lbg-q3-ims.pdf

After 170 trading days, buyback complete to date:

Total shares to date....................................................2,970,642,744

Aggregate cost to date... ............................................£1,607,056,762.91

Average price paid to date..........................................54.0979p

Percentage of £2 billion buyback completed............80.35%

Sheltie - Well I thought Lloyds were well up after opening yesterday, but followed the market down when it fell after opening.

Barclays currently up circa +3.3% on a market up day so far. Lloyds unfortunate that their results coincided with a market down day after opening yesterday.

FWIW

Deutsche Bank raises Lloyds price target to 83 (64) pence - 'buy'