General Insurance Article - Sajid Javid resigning throws budget into disarray


Rachael Griffin from Quilter comments on the news that Sajid Javid has resigned as Chancellor of the Exchequer

 One of the key pillars of The Conservative’s election success was the perception that they could be trusted with the economy, and the country was hoping for a period of stability within Westminster. This was supposed to be a low-key reshuffle but instead we have yet another key ministerial change. It is really not a good look for the Chancellor to quit less than a month before their first Budget, and it leaves a host of issues hanging in the balance.

 "Rishi Sunak in his new role will need to work extraordinarily quickly to get a grip on the upcoming Budget and present it to Parliament next month. It is yet to be seen whether Sunak will serve as No. 10’s puppet, given the speculation that the Prime Minister’s office is seeking to take closer control of the Treasury.

 "He will inherit several political hot potatoes. For instance the government has already promised to fix its disastrous pension annual allowance taper, which has led to staffing shortages in key public services, including the NHS. The government is also under pressure to address the issue of social care funding which has been kicked down the road multiple times and was a major Tory manifesto pledge."

Back to Index


Similar News to this Story

Global top 20 insurers report average premium growth
The global top 20 publicly listed insurance companies continued to demonstrate robust momentum in 2024, largely fuelled by a higher interest rate envi
Update to Fire Safety Reinsurance Facility
Following a positive first year, the insurance industry’s Fire Safety Reinsurance Facility (the Facility) has been expanded so that participating firm
Porsche drivers GBP74k injury claim derailed by dashcam
A fraudulent personal injury claim worth more than £74,000 has been foiled after dashcam footage revealed that the claimant – who alleged he was injur

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.