Still an attractive vehicle for taxpayers

Article Abstract:

Tax Exempt Special Savings Accounts (TESSAS) remain attractive investments for UK taxpayers, particularly those in the highest tax bracket. The attraction of TESSAS, which are mainly provided by building societies, lies in the above-market interest rates they provide, as well as in the tax exemption awarded on interest income awarded if capital placed in TESSAS are left untouched for the full term of the accounts. Everyone over 18 is entitled to open a TESSA provided that deposit terms are complied with. These terms include a cap of 3,000 pounds sterling in the first year, 1,800 pounds in the next three years. Up to 600 pounds can be deposited in the fifth year, or up to 1,800 pounds if the full amount has not been reached in the previous years. Under the UK's budget proposals, up to 9000 pounds can be deposited in new TESSA accounts from 1996 onwards.

Savings accounts, Tax exemption, Tax exemptions

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Gold - 6,000 years and still in fashion

Article Abstract:

Western investors have forsaken gold in recent times for more higher-yielding speculative vehicles, but recent economic trends have demonstrated the potential attractiveness of gold as a investment medium. Gold historically has played a role as a long-term store of value, and in times of inflation the real price of gold increases. However, in times of low inflation the price of gold tends to underperform, although over a business cycle it retains its purchasing power. 1990 will not see a dramatic increase in prices, but if there is a change in economic outlook, European and North American investors may be turned to as a hedge. Gold should trade at between $375-450 an ounce in 1990. Currently, Western investors are not holding much gold, indicating that any change in the market will be on the upside.

Analysis, Evaluation, Speculation, Investments, Gold

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London: still the centre of the world?

Article Abstract:

London has a tenuous hold on its position as Europe's leading banking city. London developed its position because of UK influence overseas, but the financial markets began to change in the 1970s. The Euromarkets became larger and more influential and London's roles changed. Other factors that led to the market changes include increased corporate sophistication, pressure from investors, inherent liquidity risks, exposure of sovereign debts, problems with capital adequacy, and other growth in trading. London's future is threatened by new computer trading systems, domestic regulations, and other European competition.

United Kingdom, Banking industry, London, England, International banking, London

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