New government: Coalition consequences
The new government has already announced the end of the Financial Services Authority and an Emergency Budget full of spending cuts and tax rises. Emmanuel Kenning looks at the implications for insurance brokers.
Brokers could be forgiven for feeling that the general election was a lifetime ago rather than on 6 May. After the hiatus of the political negotiations needed to form the Liberal-Conservative government, the changes affecting brokers have come thick and fast. The first development came in the Chancellor of the Exchequer's Mansion House speech on 16 June; George Osborne's sweeping changes ended the tripartite approach to regulation set up under New Labour. As of 2012, the Bank of England will
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