Gregory Johnston, CFA’s Post

Trying to find ways to help young people afford a first home by stealing more money from the wealthy, who have made smart life and business decisions, is not the solution to the problem. You have to figure out what the cause of that problem is in the first place. Unfortunately for Trudeau, that problem is mainly him and the current state of the federal “Liberal” government. 1. A little (big) thing called inflation caused by poor spending habits, leading to printing money and increased dept servicing. This causes the need for an increase in minimum wages because the low income cannot afford to eat. Which causes an increase in inflation. And let’s not forget about the Carbon tax that has no actual benefits, which again is going to cause an increase in inflation. As you can see, it’s a snowball effect. 2. The massive housing demand due to the huge influx of immigrants over the past few years. 3. Lack of financial education. To my third point, as a 25 year old who is pretty fresh out of the modern-day school system, I know for a fact that there is little to nothing being taught in secondary education with respect to finances. Starting at the elementary school level, kids should know the importance of money in this world. They should know what taxes are. They should know what interest is. It’s not that complicated to understand, it just has to be taught. Understanding the importance of finances will help youth make smart career choices such as a career in STEM or trades, opposed to doing a degree that they cannot get a job from, or worse - no post-secondary education at all. In return, that will allow them to afford that first house.

Rachel Reeve's first speech as Chancellor has given some hints on the trajectory for the country: 1. "I instructed Treasury officials to provide an assessment of the state of our spending inheritance so that I can understand the scale of the challenge. And I will present this to Parliament before the summer recess. " 2. "This will be separate from a Budget that will be held later this year – and I will confirm the date of that Budget, alongside a forecast from the Office for Budget Responsibility, in due course." 3. " it includes our commitments to no increases in National Insurance, and the basic, higher, or additional rates of Income Tax, or VAT." 4. "we will reform the National Planning Policy Framework, consulting on a new growth-focused approach to the planning system before the end of the month, including restoring mandatory housing targets."

Call it … so he did! With Rishi Sunak calling a general election well ahead of what most pundits thought, the result is further consternation for non-dom advisory over the summer months. There are wealthy individuals watching carefully how the UK will vote and whether the new encumbant will give much needed clarity. For the sake of UK PLC, it is hoped fiscal common sense will prevail and the attraction of international wealth will continue. However, with the recent announcements surrounding the ND regime, it is clear to see that common sense is indeed a misnomer. That said, the inheritance tax conundrum (since 2017) remains extant and this news, I hope, will raise the topic with so many non-doms who own UK assets. Unfortunately, it remains poorly addressed by laconic advisory resulting in so many international families being clueless about their liability. Let’s face it, most domiciles are are clueless about IHT (as some of the vote grabbing tactics showed) so what chance do foreign investors have? Opportunity for change or a much of a muchness? What is a given, is that the only guarantee in life is death and taxes friendo! Quote from HMRC “heads we win, tails you lose!” #IHT #HNW #Tax #Advisory

🚨 **Major Shake-Up in the UK Financial Landscape!** 🚨 📢 Prime Minister Rishi Sunak is rumoured to announce a bold new Conservative manifesto with sweeping changes: a £13bn tax cut and a revival of the Help to Buy scheme. What could this mean for the British economy and homeownership? Let's dive in. 🤔 **Prediction Time!** - **Economic Revival**: Lower taxes often spur economic activity. Businesses and individuals with more disposable income could boost spending, potentially aiding in economic recovery. - **Property Market Surge**: Reviving the Help to Buy scheme could dramatically improve first-time homeownership rates, making the dream of owning a home more accessible for many. 📊 **Why This Matters** - **Boost to Home Ownership**: With the renewed Help to Buy scheme, many more individuals and families may get a foot on the property ladder. - **Reward for Hard Work**: Tax cuts could be a strong signal of rewarding hard work, aligning with the Conservative ethos of incentivising personal and business growth. 📘 **General Commentary** 🔍 **Critics’ Perspective**: Critics may argue that winding down inheritance tax benefits the wealthy disproportionately. Meanwhile, using substantial public funds for these measures raises questions about sustainability and impact on public services. 💼 **Real-World Implications**: Professionals in finance, real estate, and related fields should gear up for potentially increased market activities. Changes in tax policies and real-estate incentives could offer a fresh landscape for opportunities. 🌍 **Broader Economic Impact**: This proposal could serve as a catalyst for wider market optimism, potentially driving investments both domestically and internationally. 🔗 **Full Story & Details Here** ➡️ [Tories Propose Help to Buy Revival and £13bn Tax Cuts in New Manifesto](https://lnkd.in/erqh4vPe) As we await the official announcement, these proposed changes indeed signal transformative shifts. Whether you’re a homeowner, investor, or business owner, staying informed and preparing for these developments could be crucial. What are your thoughts on these potential changes? Let’s discuss in the comments! 👇 #Finance #Economy #PropertyMarket #TaxCuts #HelpToBuy #UKPolitics #RishiSunak #ConservativeManifesto

Listening to the Chancellor deliver his Budget yesterday was an exercise in endurance. For Mr Hunt it was an exercise in futility.  After 14 years of Tory government, the UK economy and public finances are on life support. Public services, from the NHS to local councils, are in desperate need of a miracle.  But Mr Hunt couldn't deliver anything to jumpstart the national mood or the economy, let alone move the needle for the Tories in an election year.   That’s not to dismiss his move to cut 2p off National Insurance or to raise child benefit thresholds.  Both will make a meaningful difference to lots of people still feeling the pinch of the cost of living crisis. They’ll have more money in their pockets and the changes might encourage or enable more people into work. Tax breaks for the creative industries, life sciences and tech sectors are welcome too. As an entrepreneur who's built businesses from scratch , I know what a difference these things can offer. But, under the party that’s supposed to be the friend of business, the last 14 years have been a lot tougher than the previous ten. Witness how the UK has slid down the international league tables of public and private investment, productivity, and growth.   So underneath the Chancellor’s gloss the picture is grim and growth is likely to stagger along at historic low levels.  The Institute For Fiscal Studies accurately described the Budget as ‘smoke and mirrors’, barely masking that living standards are set to fall further, national debt levels to rise even higher, and public services to be squeezed even harder. Keir Starmer’s description of Mr Hunt and the Prime Minister Rishi Sunak as the ‘Chuckle brothers of decline’ was not the best gag but it’s hard to disagree with.  All the focus groups and polls show voters want a Spring election. This sentiment is exactly right! #Budget2024 #UKeconomy #nationalinsurance

UK Chancellor Rachel Reeves finally delivers her first Budget, but what has the immediate impact been on equities and markets? WeeklyWatch takes a closer look. Meanwhile, across the pond, there have been a few slips and slides prior to the presidential election. Is this likely to impact any financial decisions going forward under new leadership? This week, we’re also looking at insurance. Why do we insure some things and not others – specifically ourselves? We explore the types of financial insurance available to you and what the benefits are to you and your loved ones. #UKBudget #USElection #Insurance #FinancialAdvice

Insurance doesn’t just cover material things. Did you know you have a range of options to explore to ensure that your finances are well protected? Read WeeklyWatch to find out more.

As the UK general election on 4th July approaches, understanding the financial implications of each party's victory is crucial. Here’s a snapshot of what to expect: 🟥 If Labour Wins: Tax Policies: Possible increase in income and capital gains taxes. Public Spending: Higher spending on public services, which could affect inflation and interest rates. Investments: Potential for increased regulation in certain sectors. Housing Market: Introduction of new housing policies and possible rent controls. Business Environment: Changes in corporate tax rates and incentives for green investments. 🔵 If Conservatives Win: Tax Policies: Likely tax cuts for individuals and businesses. Economic Growth: Continued focus on boosting economic growth through deregulation. Investments: Stability in the investment landscape with fewer regulatory changes. Housing Market: Support for homeownership and possible incentives for new buyers. Pensions: Potential reforms to pension schemes to encourage long-term saving. At Letts Wealth, we're committed to helping you navigate these changes and protect your financial interests. Our expert advisers are here to tailor strategies that align with the evolving economic landscape. 📈💼 Want to know more? Contact us today for personalised advice and insights! 📞 01622 470 101 🌐 https://lnkd.in/eGVPy94j #Election2024 #FinancialPlanning #LettsWealth #InvestSmart #FutureReady

Join the conversation on the latest federal budget announcement! As a personal finance educator, I'm eager to hear your thoughts on the implications for our financial future. Let's discuss. #FederalBudget #Finance #Budget2024"