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The road to financial freedom

Homebuyers will be breathing a sigh of relief at the news that Chancellor Rishi Sunak is due to announce a three-month extension to the stamp duty holiday.
More than half a million people have tried to speed through their purchases to cross the line before the end of the holiday. Hundreds of thousands will be able to sleep easy if Mr Sunak prolongs the holiday to the end of June at the Budget next Wednesday as buyers stand to save 1.75bn in tax.
We will be holding a live Q&A session on Friday at noon to answer all your questions about stamp duty and the potential three-month extension to the holiday. You can submit your questions here.
Three extra months. That’s also how long those on furlough have been told they may have to wait until their industry starts back up again. June 21 has been branded Freedom Day and for many it will bring financial freedom as well as everything else.
Those dependent on the state bankrolling of wages are expected to get an extension of their furlough pay beyond April. Meanwhile, freelancers have been told the Chancellor is considering dropping the self-employed income scheme in May. The good news is that the grants should become redundant as everyone heads back to the workplace this spring and summer.
Britain may be on a road to recovery but that does not guarantee a stable future for stock markets. Renowned hedge fund manager Bill Ackman told Sam Benstead he was betting on interest rate rises crashing markets. Mr Ackman said inflation was already picking up and, if the pace quickened, it could be the next big risk for stocks.
Investors relying on “best buy” lists to choose their funds to see them through the market turbulence may think twice after more than half of those recommended by Britain’s biggest brokers failed to match rival portfolios last year. Research by Jonathan Jones found the investments picked by the five largest fund shops delivered below-average returns in more than 50pc of cases in 2020.
Elsewhere, British pension savers who poured more than 320m into a toxic German investment scheme have been told they may not get their money back after the group collapsed. We spoke to those who lost their life savings after being lured with the promise of 15pc annual returns.
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In our comments section, Nigel Mills said of ‘Will the stamp duty holiday be extended in the 2021 Budget?’: I am not a home owner. I was intending to buy a property to retire to last year. All my plans have been wrecked by Covid and the stupid decision to cut stamp duty. Prices in my area have soared by far more than the ridiculous stamp duty cut. I am going to have to work longer and put all my plans on hold while the government continues to print money which in turn inflates house prices barring entry for those in greatest need.
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