In this edition of Unlock the Editor’s Digest, Roula Khalaf highlights the impact of Rachel Reeves’ Budget on UK retirement savings, with changes to how pensions are taxed under the inheritance tax regime from 2027. The reforms will lead to double taxation for inherited pensions if the saver is 75 or older, prompting advisers to rethink their strategies. The shift in taxation rules may result in more Britons making gifts or spending their pension savings to avoid higher taxes, with potential implications for estate planning and annuity uptake.
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Five takeaways on Trump’s opening trade salvo
Donald Trump did not impose new trade tariffs on the first day of his second term, but outlined an "America First Trade Policy" focusing on remedying unfair trade practices and identifying currency manipulators. The president pledged tariffs in the near future, prioritized actions on Canada and Mexico, and signaled a systematic overhaul of trade relations with China. Trump also weaponized tariffs to achieve policy goals beyond reducing trade deficits and considered implementing a "global supplemental...
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