In June 2007, two Bear Stearns hedge funds collapsed. That marked the start of the financial crisis. The Swiss-based Bank for International Settlements (BIS), an association of central banks, was among the few institutions to highlight the risk of a meltdown before it happened.
Now it's concerned that this recovery could end "with a vengeance". Several emerging markets are flashing red, with credit growth racing far ahead of economic growth, indicating a build-up of debt and vulnerability to a financial crisis. In Hong Kong, for example, the gap between debt growth and long-term economic growth is 30.3; in China it has reached 24.6. BIS considers anything above 10 to be a critical warning.
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‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
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MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
