Coronavirus Impact on the Global Economy | Hugh James Independent Financial Advisers

Welcome to the latest edition of our Independent Financial Advisers magazine; Coronavirus impact on the global economy.

It has been a very challenging time for many of our clients, their families, their employees and the wider business community. Understandably, the ongoing impact of the coronavirus pandemic to the economic outlook and how it is affecting our own personal finances continue to be a concern for us all.

This issue focuses on maintaining those long-term horizons, managing volatility and the effects of COVID-19 on retirement planning. It is more important than ever for investors to stay the course.

The government’s actions to help businesses and households manage the short-term economic disruption, such as interest rate cuts and rescue packages, have been positively received. But, the intended consequences are yet to materialise.

On top of a series of measures announced at Budget 2020, the Chancellor, Rishi Sunak, announced an unprecedented package of government-backed and guaranteed loans to support businesses, making available an initial £330 billion of guarantees – equivalent to 15% of the country’s GDP.

During these challenging times, there has also been an increase in the number of fraudulent scams. Individuals are at increased risk of being exposed to financial scams – including those involving phishing emails and cold calls – in an attempt to obtain personal or sensitive information. Be extra vigilant and do not respond to any correspondence which you are unsure about – such as letters, emails, phone calls, text messages.

A full list of the articles featured in this issue appears on page 3.

As the COVID-19 pandemic continues, inside this issue, we look at a number of areas to consider during this difficult time. If you require any further assistance, please do not hesitate to contact us.


Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.

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