News That Matters

Tag: Spending

Clients’ health-care spending gets closer look from advisors as costs squeeze budgets

Clients’ health-care spending gets closer look from advisors as costs squeeze budgets

Finance
Find yourself struggling to manage your health-care costs in retirement? You're not alone.As the cost of health care continues climbing faster than the rate of inflation and an aging population is living longer, many financial advisors are focused on the line item in their retired clients' budgets more than ever."It's a cost we see that's ever-present and it's gone way up over time," said certified financial planner Kelly Wright, director of financial planning for Columbia, Maryland-based Pinnacle Advisory Group. Pinnacle ranked No. 80 on the CNBC FA 100 list of top advisor firms for 2019.The ability to pay for health-care needs is one of the most critical issues of retirement.Hero Images | Getty ImagesThe U.S. spent about $ 3.5 trillion on health care in 2017, or about $ 11,000 per person...
Tories quadruple spending on Facebook ads

Tories quadruple spending on Facebook ads

Technology
By Carmen Aguilar Garcia, data journalist, and Alexander J Martin, technology reporter The Conservative Party has quadrupled its spending on Facebook advertisements as the election campaign enters its final days.Its spending surged from £5,577 on 3 December to £22,491 the following day, the most recent dates for which spending data is available as Facebook reports daily spending on a three-day delay. Although the spending data isn't yet available, the party published a large number of advertisements on 4 December, meaning the figure is likely to grow even higher in the coming days. An image posted from Boris Johnson's account, featuring the Tory leader in a high-visibility jacket with other men around him in similar jackets wearing hard
Canada declines to raise defense spending above 2 percent NATO benchmark

Canada declines to raise defense spending above 2 percent NATO benchmark

Business
Dec. 2 (UPI) -- As leaders of NATO countries prepare to convene in London, Canada remains below the benchmark of two percent of GDP, NATO data indicate. Each NATO member nation agreed in 2014 to spend two percent of its gross domestic product on defense, but statistics released Friday indicate that Canada will spend 1.31 percent of its GDP on defense in 2019, a figure similar to that of 2018. The data places Canada 20th on the list. Nine countries -- the United States, Bulgaria, Greece, the United Kingdom, Estonia, Romania, Lithuania, Latvia and Poland -- currently meet or exceed the two percent level, the U.S. carrying the highest percentage of all 29 NATO members and Luxembourg with the lowest. U.S. President Donald Trump has been a frequent critic of allies underspending on defense, a...
Tories and Labour not offering ‘credible’ spending plans – IFS

Tories and Labour not offering ‘credible’ spending plans – IFS

Business
Both the Conservatives and Labour have failed to put forward a "properly credible prospectus" for their spending plans, a leading economic think tank has said.The Institute for Fiscal Studies said it was "highly likely" a Tory government would end up spending more than planned, while it cast doubt on Labour's promise to "ramp up" investment levels by £55bn a year. Chancellor Sajid Javid said the assessment showed a Labour government would mean "taxes for the many, not the few" and declared: "We know that our numbers add up." Image: The IFS said it was 'highly likely' a Labour government would have to introduce further tax rises Labour's shadow chancellor John McDonnell said: "The IFS assessment of Labour's plans is that we are too amb
Next government ‘set to break spending rules’

Next government ‘set to break spending rules’

Business
High borrowing means the next government is set to bust rules on spending, the Institute for Fiscal Studies (IFS) has said.The gap between what the government spends and what it receives was now set to be much higher than expected, the think tank warned.Higher public spending, slower growth and changes to the way student loans are counted have pushed up borrowing.Years of rising debt risked burdening "future generations", the IFS said.IFS director Paul Johnson said it left little room for election giveaways if the parties wanted to keep within the current spending rules.UK borrowing up by a fifth over past six months"At some point it becomes unsustainable, you've got to stop it going up at some point especially when you know big spending pressures are com...