Those of you of a certain age are likely to remember this programme with affection
Those of you of a certain age are likely to remember this programme with affection. Millicent Martin trilled the week gone by, with flesh put on the stories by figures so far removed from the Establishment in those days that it is difficult to remember they were then outsiders. How swiftly the values of that team – Frost, Sherrin, Levin and Rushton – have become not just normal but appropriate for the age. They would have relished examining 1997.
Their approach would undoubtedly have been irreverent – singularly fitting for a year where nothing was ever quite what it seemed.For example, we all knew an election was imminent.
As polling day approached and it became evident that John Major was not about to win a further term, markets dipped, only to recover as a borderline result began to look unlikely. In the event, the majority was one far beyond anything achieved by Maggie Thatcher, even in 1983.The size of the Labour win was a factor in maintaining a relatively stable market, though one which seemed unable to make any headway ahead of the first Budget from the new Chancellor of the Exchequer, Gordon Brown. Here, market commentators made the first of many misjudgements of this year.Action against pension funds had long been expected. The bond carries withdrawal penalties of 9 per cent in year one, falling to 1 per cent in year five.
Call 0800 413186.Cheshire Building Society is launching a new fixed-rate mortgage offering a choice between 6.99 per cent until March 2003, or 7.59 per cent fixed to the same date, with an additional cashback of 3 per cent, to a maximum of pounds 6,000. Cheshire’s fixed rates also have no valuation, arrangement or application fees Compulsory insurances apply. Call 0345 550555.The Mortgage Operation (TMO), a home loan “wholesaler”, is offering a fix of 3.95 per cent pegged until January 2000. The rebates in effect raise returns in the first year to 12.5 per cent.
A rebate of 3 per cent is added to investments up to pounds 25,000, and 4 per cent above that. The account will now pay 6.75 per cent gross on deposits between pounds 250 and pounds 999, rising to 7.6 per cent gross on sums above pounds 25,000 Minimum investment is pounds 250 No notice is needed for withdrawals. Call 01733 372372.PEP Direct, the Wolverhampton-based execution-only broker, is offering rebates on NPI’s new with-profits bond, which pays income of 8.5 per cent interest until March 1999 and a standard bonus thereafter. All of which bodes well for next year.bargain basementNorwich and Peterborough Building Society is increasing rates paid on its HeadStart Savings Bond, a young people’s account available to those aged 23 or under.