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UK Chancellor Rachel Reeves has called for a new approach to public sector investment, in a set-piece speech at the Labour party conference in Liverpool.

On a day when Britain’s governing party sought to overcome internal divisions over its plans to cut winter fuel payments to pensioners, Reeves sought to emphasise a pro-growth agenda ahead of next month’s budget.

“It is time that the Treasury moved on from just counting the costs of investment to recognising the benefits too,” she said.

“So we are calling time on the ideas of the past,” she added, “calling time on the days when governments stood back, left crucial sectors to fend for themselves, and turned a blind eye to where things are made and who makes them.”

The Chancellor’s speech was interrupted by a heckler protesting against the UK’s stance on the Israel-Hamas conflict. Earlier in the day, delegates had booed a decision to delay a non-binding vote in which the leadership faces possible defeat over its plans to means test winter fuel payments.

Reeves argued in her speech that Labour had to respond to what she characterised as a £22bn black hole left in its accounts by the previous Conservative government.

After days in which she has been criticised for a downbeat message, the Chancellor added that October’s Budget would have “real ambition” and that there would be no return to austerity.

“This budget will be a budget for economic growth; it will be a budget for investment,” she said. “My ambition knows no limits, because I can see the prize on offer if we make the right choices now.”

In another remark highlighting the role of the state, she said: “Government cannot just get out of the way and leave markets to their own devices”.

This is a developing story

The Platforms Association launches today to represent and provide a voice to the £1trn investment platform sector.

The launch marks a step change in how the platform industry will engage with regulators and policymakers.

It aims to bring a united voice to co-ordinate and promote industry interests.

Several high-profile investment platforms including Abrdn, Aegon, Fidelity, Quilter, Seccl, SS&C are represented on the board and leadership council

Membership will be open to UK and European regulated firms whose primary activities are the settlement, custody and safe keeping of retail investor assets.

It will also be open to regulated sub-custodian firms providing dealing and safe-keeping services to organisations acting on behalf of retail investors.

The Platforms Association has already developed a roadmap of priority issues to be tackled covering evolving platform requirements, regulatory expectations and operational efficiencies and improvements.

These three broad areas will be overseen by a leadership council comprising representatives from across the industry.

Related financial and professional services firms including Alpha FMC have also been appointed as independent strategic partners to the association.

The trade body will be headed by industry veteran Keith Phillips as CEO, formerly an executive director at TheCityUK, British Bankers’ Association and The Investment Association.

David Moffat, senior director at SS&C will act as chair, and will draw on expertise from a board made up of leading figures in the industry.

Moffat said: “Given a background of increased economic uncertainty and regulatory scrutiny, the UK platform industry now needs its own dedicated forum and representative voice.

“The Platforms Association will look to co-ordinate collective action and agree best practice to the benefit of platform operators, financial advisers and underlying investors.”

Keith Phillips, CEO, The Platforms Association added: “The investment and fund industry has been transformed and democratised over the past decade with millions of customers now interacting directly with their financial futures through a platform.

“It’s another example of where the UK is a world leader in financial services. It’s also clear that as the industry, technology and customer demographics have evolved, sector-wide co-ordination should now be fully realised for the benefit of all.”

Mortgage lenders’ attempts to lure in first-time buyers have stepped up with the UK’s biggest building society allowing some to borrow more.

The Nationwide said that from Tuesday, new borrowers could request a mortgage up to six times their income with a 5% deposit.

But it would only be available for those taking out a five or 10-year fixed-rate deal.

With rates expected to fall, some may only want a loan with interest fixed for a shorter term. The uptake is expected to be concentrated in London and south east England.

Applicants will still have to meet relatively strict affordability criteria, which is assessed individually.

Competition between mortgage providers has intensified in recent months.

Brokers say that lenders have been offering the best deals to new, house-purchasing customers, rather than those who are remortgaging.

With relatively few buyers, providers are trying to get a piece of a small pie.

First-time buyers are seen as a key battleground, and the Nationwide has been offering among the largest so-called income multiple for home loans.

While the standard level of borrowing for first-time buyers is a loan of up to 4.5 times’ income, the Nationwide has allowed some to borrow 5.5 times – a move followed by some other major providers.

Now, it will step that level up to six times – but only among first-time buyers with an individual income of at least £30,000 a year, or a couple earning at least £50,000 a year.

It is also planning to reduce some mortgage interest rates slightly, and increase the maximum total loan available.

“It is a welcome move for the right borrowers, but it is not going to work for everyone,” said David Hollingworth, from broker L&C.

Brokers said lenders were generally wary when lending at high income multiples, with such deals usually only available to high earners.

Some smaller lenders offered six times salary although they normally charged higher rates of interest, they said.

The move follows a report by the Building Societies Association, of which Nationwide is a member, which suggested first-time buyers were facing the toughest conditions in 70 years to buy a home.

It called for fresh thinking from the market, including easing some of the limits on lending when borrowers could only offer a relatively small deposit.

Images credit unsplash, pexels and Villa Finder

The seasoned traveler is accustomed to exploring the world’s most exciting destinations in high style. Be that as it may, one stands apart due to its exquisite blend of natural beauty, cultural richness, and unparalleled luxury.  On the coast of western Spain in the Mediterranean, you’ll find an island with a tapestry of experiences waiting to be woven into your travel memoirs. With its stunning landscapes, vibrant local culture, and luxurious accommodations, Majorca stands as an ideal destination for those seeking an unforgettable stay in the jewel of the Med. When traveling with friends or family, staying in a hotel may not be the best way to visit Majorca.  Accommodations such as you‘ll find with Villa Finder make a great option for an exclusive stay in the Majorca.

Majorca, the largest of Spain’s Balearic Islands, is a treasure trove of stunning beaches, rich history, and vibrant culture.  Historical landmarks like the Palma Cathedral and Bellver Castle offer glimpses into the island’s past, while the Serra de Tramuntana mountain range presents breathtaking drives and outdoor adventures.

Majorca’s rich history is etched into its architecture and traditions, offering a cultural feast for the discerning traveler. The island’s capital, Palma, is a testament to this heritage. The Palma Cathedral, also known as La Seu, stands as a Gothic masterpiece with its towering spires and intricate stained glass windows. Wander through the labyrinthine streets of the old town, where historic mansions and quaint shops create a charming atmosphere.

Art lovers will find solace in the legacy of Joan Miró, whose foundation in Palma showcases a collection of his works, blending surrealism with the island’s unique character. For a taste of local culture, visit the weekly markets in towns like Sineu and Alcúdia. Here, you can immerse yourself in the vibrant colors and flavors of Majorcan produce, from ripe tomatoes to fragrant herbs, all set against a backdrop of lively chatter and traditional music.

A culinary journey through Majorca is nothing short of spectacular. The island’s cuisine is a reflection of its diverse influences and bountiful produce. Indulge in a traditional meal of sobrasada, a cured sausage made from local pork and spices, or savor the sweetness of ensaïmada, a spiral pastry dusted with powdered sugar. For seafood aficionados, dishes like tumbet—a layered vegetable and seafood casserole—offer a taste of the Mediterranean’s bounty. Picture yourself at a seaside bistro in Port de Sóller, savoring the fresh catch of the day as the sun sets over the harbor, casting a golden hue over the waters.

But it’s the beaches of this destination that are the crown jewels of Majorca’s coastline. Visitors love lounging on the soft sands of Playa de Muro, where the turquoise waters gently lap against the shore. For a more secluded experience, Cala Deià, a hidden gem surrounded by rocky cliffs, offers a tranquil escape. The clear waters here are perfect for a refreshing swim or snorkeling adventure, allowing you to explore the vibrant marine life beneath the surface.

As you stroll along the sun-dappled promenades, savoring the gentle sea breeze and the scent of blooming jasmine, you will find that Majorca is not just a destination, but a journey of the senses. It is an island that invites you to slow down, appreciate the finer details, and immerse yourself in the pure joy of discovery. For those who have seen the world, Majorca offers a fresh perspective—a reminder that true luxury lies in the simple pleasures of life, experienced in a place of extraordinary beauty.

Hotel or something better?

When traveling, a hotel might be the go-to option for solo or couple getaways. However, for families or groups of friends venturing to exotic locations, a hotel may not always be the best fit. Villas offer a more private and communal experience, ideal for enjoying time together. This setup is often more conducive to group bonding than a traditional hotel. Villas also provide better value for money compared to multiple hotel rooms, without compromising on luxury.

Privacy is another advantage of villa rentals. Unlike hotels, where you may encounter many other guests, a villa offers seclusion and a more authentic local experience. With flexible dining options and family-friendly amenities, villas cater to various needs, from cooking your own meals to enjoying local restaurants. Private pools and spacious outdoor areas are perfect for relaxation and entertainment.

Imagine waking up in a stunning villa, surrounded by the serene beauty of Majorca. Instead of the typical hotel experience, you and your loved ones could have a private retreat, complete with a pool and terrace for shared meals and relaxation. A Majorca Villa from Villa Finder offers just that and more.

The Villa Experience in Majorca

Founded in Singapore in 2012, Villa Finder has established itself as a leading provider of holiday villas across Asia, Europe, and the Caribbean. With a curated selection of over 4,000 properties, Villa Finder offers a diverse range of properties, from cozy two-bedroom escapes to grand estates for larger groups.

A vacation with Majorca Villas through Villa Finder promises a blend of luxury, comfort, and memorable experiences. From diverse accommodations and premium amenities to personalized service and scenic locations, every detail is designed to offer the perfect holiday. Villa Cala Llamp, in particular, exemplifies the high standards Villa Finder upholds, ensuring an exceptional stay in Majorca.

For an unforgettable holiday, book with Majorca Villas through Villa Finder and enjoy a perfect blend of luxury, comfort, and memorable experiences in one of Spain’s most beautiful.

Villa Cala Llamp

Perched high above Port d’Andratx, Villa Cala Llamp is a stunning property that offers a blend of luxury, elegance, and breathtaking views. This villa is perfect for those seeking a high-end vacation experience with all the comforts of home. The villa’s elevated position ensures that guests can enjoy panoramic vistas of the Mediterranean from the expansive terraces and large windows. Whether it’s sunrise or sunset, the views from this villa are truly spectacular.

The interiors of Villa Cala Llamp are designed with elegance and comfort in mind. The villa features spacious living areas with high-end furnishings and stylish decor. The open-plan layout creates a sense of flow and continuity, enhancing the overall sense of space and luxury. Villa Cala Llamp is equipped with a range of exceptional amenities to ensure a comfortable and luxurious stay. The villa includes a fully equipped gym, a home cinema, and a sauna, providing guests with plenty of options for entertainment and relaxation.

The villa’s kitchen is equipped with the latest appliances and provides ample space for cooking and entertaining. Guests can prepare their own meals or hire a private chef for a more indulgent experience. The indoor dining area is perfect for formal dinners, while the outdoor dining space offers a more relaxed setting with incredible views.

The outdoor spaces at Villa Cala Llamp are designed for ultimate relaxation and enjoyment. The private pool is surrounded by a spacious terrace with comfortable seating and sun loungers, offering the perfect spot to unwind and soak up the sun. The outdoor kitchen and dining area are ideal for hosting barbecues and enjoying meals with a view.

Located just a short drive from Port d’Andratx, Villa Cala Llamp offers easy access to the town’s restaurants, shops, and nightlife. The nearby marina is perfect for boating and water sports, while the surrounding hills provide excellent opportunities for hiking and exploring nature.

Villa Can Oli

Nestled in the heart of Pollensa, Villa Can Oli offers an idyllic escape for those seeking tranquility and natural beauty. Villa Can Oli is surrounded by lush Mediterranean gardens, providing a serene environment that invites relaxation. The well-maintained gardens are filled with vibrant flowers, aromatic herbs, and mature trees that create a picturesque setting. Guests can enjoy leisurely strolls through the garden paths or find a quiet spot to read and unwind.

The villa features spacious living areas with high ceilings, exposed wooden beams, and large windows that allow natural light to flood the rooms. The decor is a harmonious blend of rustic elements and contemporary furnishings, creating an inviting and cozy atmosphere. The villa includes a fully equipped kitchen with modern appliances, making it easy for guests to prepare meals at their convenience. The dining area, both indoor and outdoor, provides a perfect setting for family meals and gatherings.

One of the highlights of Villa Can Oli is its private pool, set against the backdrop of the stunning countryside. The pool area is equipped with comfortable sun loungers and umbrellas, offering the perfect spot for sunbathing and relaxation. Adjacent to the pool is an outdoor dining area where guests can enjoy al fresco meals while taking in the breathtaking views of the surrounding landscape.

Villa Can Oli is conveniently located near Pollensa’s charming old town, where guests can explore historic sites, local shops, and traditional markets. The villa is also a short drive from some of Majorca’s most beautiful beaches, making it easy for guests to enjoy both the countryside and the coast.

Villa Alegria

For those who dream of a seaside retreat, Villa Alegria in Puerto de Andratx offers the perfect combination of luxury and breathtaking ocean views. This four-bedroom villa is strategically positioned to offer panoramic views of the sparkling Mediterranean Sea. The villa’s large windows and expansive terraces provide unobstructed vistas, allowing guests to enjoy the beauty of the ocean from almost every corner of the property.

The interiors of Villa Alegria are both elegant and contemporary, featuring high-quality materials and tasteful decor. The spacious living areas are designed for comfort and relaxation, with plush furnishings and stylish accents. The villa’s kitchen is a chef’s dream, equipped with top-of-the-line appliances and ample counter space. Guests can easily prepare gourmet meals or hire a private chef to cater to their culinary desires. The indoor dining area is perfect for formal dinners, while the outdoor dining space offers a more casual setting with spectacular views.

Villa Alegria’s outdoor spaces are designed for maximum enjoyment and relaxation. The private pool is surrounded by a spacious terrace with comfortable seating and sun loungers, making it an ideal spot for soaking up the sun. The outdoor kitchen and dining area are perfect for hosting barbecues and enjoying meals in the fresh sea air.

Located in the prestigious area of Puerto de Andratx, Villa Alegria offers easy access to the town’s upscale restaurants, boutique shops, and vibrant nightlife. The nearby marina is perfect for boating enthusiasts, while the surrounding hills provide excellent opportunities for hiking and exploring nature.

Each of these villas—Villa Can Oli, Villa Alegria, and Villa Cala Llamp—offers a unique and luxurious experience for travelers seeking a memorable vacation in Majorca.   Whether you prefer a tranquil retreat in the countryside, a seaside escape, or an elegant hillside property, these villas cater to every taste and preference, ensuring an unforgettable holiday experience.

Majorca’s timeless appeal lies in its ability to offer something for every traveler. Whether you are drawn to its natural beauty, cultural heritage, culinary delights, or luxurious accommodations, the island promises an unforgettable experience. For the seasoned traveler, accustomed to the world’s best, Majorca stands as a testament to the art of travel—a place where every moment is imbued with elegance and charm. A stay in a private villa through Villa Finder ensures a vacation with fond memories of time spent in a special destination made all the more special when spent with friends or family.

Premier Miton has appointed Nicola Stronach as its new chief operating officer (COO).

Stronach’s role covers the overall management of Premier Miton’s risk, operations, compliance and legal teams, as well as relations with regulators and third-party strategic relationships.

She is also a member of the senior management team responsible for the strategic direction of Premier Miton.

Previously she was director of operations at Quilter and director – investment operations at Credit Suisse. She has also worked for Old Mutual Global Investors and BNY Mellon.

She has over 25 years of experience in the asset management industry.

Premier Miton chief executive officer Mike O’Shea said: “We are delighted to welcome Nicola to Premier Miton Investors.

“Nicola’s wealth of asset management experience and operational and regulatory expertise will be invaluable to the firm as we continue to strengthen our existing UK distribution, offer strategies for institutional distribution, and develop our international growth ambitions.

“This is an exciting time for the business and Nicola will play a pivotal role within the senior leadership team that drives the implementation of our strategic goals.”

Stronach added: “I am extremely excited to join the fantastic team at Premier Miton Investors. The firm has continued to build a strong asset management business with excellent performance and client service.

“The quality of what they do across the board is the reason I joined, and I look forward to continuing to build and deliver on their ambitions as well as keeping a strong regulatory framework and customer focus.”

In January 2024, Premier Miton Group completed the acquisition of Tellworth Investments, which was first announced on 1 November 2023.

The acquisition expanded Premier Miton’s offering with the addition of long/short strategies, further strengthens the existing UK equity franchise and offers strategies with potential for institutional distribution, building on Premier Miton’s developing presence in that market.