Good morning! It’s Paul here.
I read an astonishing article in the weekend press. It stated that the cost of tax relief for private pension contributions has now risen to a staggering £53bn p.a. – enough to wipe out the entire Govt spending deficit. Bear in mind that this is mostly going to the affluent, and I don’t see how the present arrangements can possibly be justified, or continued. So I think we’ll see another raid on private pensions by the Government fairly soon.
I have an ancient SIPP, however it’s a system which makes me very nervous. The money is tied up for years, and in the meantime who knows what awful policies successive Governments might implement to raid my savings? ISAs seem much more attractive – at least you could grab that money amp; wire it abroad, if a hostile Government were to be elected.
Elegant Hotels (LON:EHG)
Share price: 84.8p (up 5.7% today)No. shares: 88.8mMarket cap: £75.3m
(at the time of writing, I hold a long position in this share)
Trading update – for the year ended 30 Sep 2017.
This company owns amp; operates 7 freehold “upscale” hotels, plus a restaurant, in Barbados….
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