The major upcoming political event is the mid-term vote in the US. The entirety of the House of Representatives, 35 seats in the US Senate and the Governorship of 39 US states and territories will be up for re-election. The big question is whether the Republicans can retain their control of the House (which they have held since 2010) and Senate (theirs since 2012).
The polls show the Democrats with a solid lead of 5%-7% in the generic Congressional ballot. While boundaries and incumbency work in the Republicans' favour, I still think that Democrats will retake the House. Even though the Betfair odds on a Democratic victory have shrunk from the 3.1 (32%) I tipped in Issue 848 last June to 1.94 (51.5%), I still think it's worth supporting the Donkeys over the Elephants. However, as always, never double down on any bets you have made.
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Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
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How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
