That seems practical and would allow doctors to have flexibility, but would be strongly contested by the unions. The situation is almost unsolvable.
We laughed at the French when they put in tax rates of 70 per cent which inadvertently encouraged doctors and dentists to stop working for three-quarters of the year because it was not worth it and suddenly it meant no one could get an appointment.
They fixed that by reducing the tax rate. I cannot see further wholesale changes to the annual and lifetime allowances, but I can see the government tinkering with the NHS scheme. Doctors will have to be careful what they wish for.
Cost of living
I would imagine that not many clients of financial advisers have been suffering through the cost of living crisis – they are just too well off.
At the moment what we have seen is the problems focused on households with disposable income of £42,000 or less.
But what about when the October price cap comes in, and then the further increases in January?
If you drive a lot, have high energy households with Agas and swimming pools, and if you have a whopping mortgage, then you really will start feeling substantial pain, particularly when that fixed rate ends. As this crisis grows so will the number of households that are going to be caught.
Advisers, like other businesses, will need an action plan for when those clients come through the door and say they cannot afford any upfront fees any more.
Even the rich will feel the pinch.
Brexit scams
I was in France last week and stumbled across an English language newspaper. It was full of classified adverts for France-based financial advisers offering support for expats who had suddenly lost the services of their UK based adviser.
There were also a handful of ads for less-reputable firms offering help – scams every one of them.
Brexit has not just created a headache for overseas clients, it has created a genuine risk.
What a palaver.
James Coney is money editor of the Times and Sunday Times
