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28 October 2020
Perspective
28 October 2020
What does the Bank of Mum and Dad need to consider?
With house prices still beyond the reach of many, the Bank of Mum and Dad (or BOMAD) is often being asked to step in on a regular basis to help their adult children with their financial commitments. There is also a growing expectation of redundancies, resulting from the ongoing impact and restrictions associated with Covid-19, therefore BOMAD may be called upon for additional financial support.
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The Chancellor of the Exchequer, Rachel Reeves, presented the Budget statement to the House of Commons shortly after 12.30 this afternoon.
Budget 2024 Snapshot
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