Scottish Friendly

The Bank of England’s Monetary Policy Committee (MPC) has announced an interest rate hike of 0.5% today in the face of rising inflation. At its meeting ending on 3 August 2022, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.5 percentage points, to 1.75%. One member preferre

New data from financial mutual Scottish Friendly has revealed that investment activity in Scotland fell to its lowest level in nearly three years during the second quarter of 2022. The Scottish Friendly Investor Index tracks sales of adult investment ISA policies and the total value of these new pol

UK inflation reached a new record high in June, as the Consumer Prices Index (CPI), measured by the Office for National Statistics (ONS) hit 9.4%.

A study has revealed that millions of adults have no savings to fall back on as they have already been used up to pay for essential items rising in price. The study by Scottish Friendly and the Centre for Economics and Business Research (CEBR) found that one in six (16%) adults have used all their s

Gross domestic product (GDP) grew by 0.5% in May 2022, according to the latest figures published by the Office for National Statistics (ONS). However, "spiralling living costs", sharp rises in inflation and further interest rate rises on the horizon "present an uncertain forecast for people and poli

The rise in the National Insurance threshold to £12,570 announced by the UK Government won't help lower-income households, despite some headline savings on contributions, according to Kevin Brown, savings specialist at Scottish Friendly. Mr Brown highlighted that average income households are

Scotland's onshore GDP decreased by -0.5% in April, according to statistics announced by Scotland's Chief Statistician. Output remains above the pre-pandemic level of February 2020, by 0.6%.

Retail sales volumes fell by 0.5% in May 2022 following a rise of 0.4% in April, according to the latest figures published by the Office for National Statistics (ONS). However, sales volumes were 2.6% above their pre-coronavirus (COVID-19) February 2020 levels.

The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 7.9% in the 12 months to May 2022, up from 7.8% in April, according to the latest figures published by the Office for National Statistics (ONS).

The Bank of England (BoE) has raised interest rates again, from 1% to 1.25%, as it attempts to fight rising inflation. The bank’s Monetary Policy Committee (MPC) by a majority of 6-3, voted to increase the bank rate by 0.25 percentage points.

Gross domestic product (GDP) fell by 0.3% in April 2022, after a decline of 0.1% in March 2022, according to the latest figures published by the Office for National Statistics (ONS).

Financial mutual Scottish Friendly has today warned the cost-of-living crisis is officially restricting UK households’ ability to save and invest. Latest ISA data from the Office for National Statistics (ONS) shows declining ISA subscriptions in 2020/2021, a trend reflected in Scottish Friendl

New data from Scottish Friendly has indicated that households are having to pare back on saving and investing as they look to cover other areas of essential spending in the first three months of 2022. The Scottish Friendly Investor Index tracks sales of adult investment ISA policies and the total va

Financial mutual Scottish Friendly has reported record sales of £46.9 million for 2021, despite significant business and economic challenges. Total sales increased from £42m in 2020 to £46.9m in 2021. Sales of Scottish Friendly’s own-brand investment ISAs increased by 17% to

Stephen McGee has taken over as chief executive of financial mutual Scottish Friendly following regulatory approval. McGee will replace acting CEO Martin Pringle, who has temporarily been in charge of the business since the passing of Jim Galbraith in April 2021.