2019 has arrived, and it’s time to start looking at what it might mean for your finances. But as a look back to 2018 will demonstrate, predicting the future can be almost impossible.
This time last year, economic growth was weak, following the slowdowns of 2017 and ongoing bad weather. Very few were predicting a FTSE that hit record levels, a cut in government borrowing and a boost in employment figures.
Brexit confusion continues, with the Prime Minister cancelling the Parliamentary debate on her agreement at the 11th hour, and is heading back to Brussels. It has been evident for weeks that her deal was not going to get the support it needed to get through Parliament.
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EU leaders have formally backed Mrs May’s Brexit withdrawal proposals, but will the UK be as keen?
Theresa May’s Brexit deal was given approval in Brussels last Sunday. Leaders of the remaining 27 EU nations quickly nodded through two documents that were almost two years in the making – the Withdrawal Agreement and a Political Declaration about the future relationship between the EU and the UK.
With Brexit filling the financial pages, you might easily have missed some very good financial news.
UK inflation was unexpectedly down in September.
Inflation affects everyone, and even those who glaze over when economics are mentioned care about the cost of living. Inflation means savings are worth less and everything you buy, from a loaf of bread to your home, costs more. So, a fall is cause for celebration.
We only seem to have come back from summer holidays but it is already nearly the fourth quarter of 2018.
If there are any clear themes emerging for the year, it is the importance of the political situation for the economy. Brexit, the US mid-term elections, China – what the politicians have to say is affecting the pound in your pocket, pension pot and investment portfolio.
