@peter_IFAMAG reads Twitter so you don’t have to.
New triple lock pension rise announced; the state pension will now have risen 41% in 11 years, reports The Institute for Fiscal Studies. New flat-rate state pensions will increase from £4.40 a week to £179.60. Meanwhile, UK auditors told to detect fraud in accounting standard plotted by industry watchdog.
Starling Bank founder, Anne Boden, set to release tell all memoir.
Expect extra fireworks on Bonfire night this year… 👀 🎇
This has been a long time coming – excited to read this!https://t.co/iQ95Csh0Ce
— Isabel Woodford (@i_woodford) October 21, 2020
Robert Collins does a back of the envelope calculation for Monzo’s premium account economics.
Wonder what the Monzo Premium unit economics look like 🤔
£15 p/m, min 6 months = £90 revenue
Card cost = £50
P&P say £5
Interest at 1.5% up to £2k for 6 months = £15
Leaves ~£20 / 6 months = £3.33pm left for the insurances.
Ofc unit econs 🆙 the longer the subscriber stays
— Robert Collings (@RobertCollings_) October 20, 2020
Tabby Kinder reports UK audit watchdog plot ‘unambiguous’ accounting standards for big four auditors.
NEW: UK auditors will be required to detect frauds in a newly-unambiguous accounting standard being plotted by the industry's watchdog
The plans see the UK move ahead of international accounting standards in the wake of Wirecard and Patisserie Valeriehttps://t.co/yLkXx9loof
— Tabby Kinder (@Tabby_Kinder) October 21, 2020
Josephine Cumbo reports state pension flat rate rise.
NEW: Millions of UK pensioners will receive an inflation-busting rise of 2.5% in their #pensions next year due to the "Triple Lock" mechanism.
The rise means the new flat rate state pension will rise £4.40 a week to £179.60.
— Josephine Cumbo (@JosephineCumbo) October 21, 2020
Andy Verity comments on the triple lock pension rise in the thread here.
The Institute for Fiscal Studies calculate that, after the 2.5% triple-lock rise (5 x the latest rate of inflation), the state pension will now have risen in 11 years by 41%, vs a 22% rise in earnings. Pensioners are now better off relative to the wider population than ever.
— Andy Verity (@andyverity) October 21, 2020
UK borrowing has now surpassed the level it was during World War 2.
'Worst' in a phantasmic sense only. Debt interest to revenue south of 4% for the first time in modern history. The longest average weighted maturity of any government bond market in the advanced world. UK has many real problems to focus on without conjuring them up. https://t.co/RBhGv0kM1L pic.twitter.com/nvAX10REIb
— Mike Bird (@Birdyword) October 21, 2020
What are your thoughts on these tweets?
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