Legal & General’s chief has urged the government for clarification of CGT
rules in relation to investment bonds.
Chief executive Tim Breedon said CGT changes and economic uncertainty had led
to a ‘lower propensity to put money into long-term savings vehicles’,
Better news for Legal
& General was its announcement that it had struck a deal to
take on the pensions assets and liabilities of several large businesses.
Weir Group, Electricity Association Services and Queens Moat House Hotel
Group sold off their pension schemes, the market for which Breedon said was
finally opening up.