This week the government's Brexit analysis leaked and we found out it wasn't as confident in private as it has been in public.
This week's news should also have left interest-only mortgage borrowers and Neil Woodford less confident too. Here are some of the biggest headlines of the last seven days.
1) Woodford suffers another blow
This week Capita’s share price fell 40 per cent after the company issued a gloomy profit warning.
Woodford Investment Management is the second largest holder of Capita stock, having bought up nearly 10 per cent of the company.
This follows Woodford's experiences last year with Provident Financial, AstraZeneca, Imperial Brands, Allied Minds and the AA.
As one of our readers wrote in the comment section: "How the mighty have fallen. The idea of active fund management is to get up close and personal with the business's invested in.
"Woodford has now been caught out on at least five of his holdings over the past year and his fund has hugely underperformed, which begs the question 'has he lost his touch/focus?'"
2) U-turn if you want to
The Chartered Insurance Institute obviously heard Margaret Thatcher's famous quote this week and thought "yeah, OK then".
The trade body has scrapped its decision to introduce “all-inclusive packages” for its exams.
It had introduced changes which meant that when signing up to take a CII exam individuals would also get a study text and access to the CII's online study tool, RevisionMate, at a discounted rate and couldn't opt just for the exam sitting on it's own.
But following criticism of this move, the CII has said it will now allow exam entry to be purchased separately to the combined package again while it consults with its wider membership and other "key stakeholders".
3) Interest-only timebomb taking time
For years, interest-only mortgages have been referred to as a timebomb but somehow rather than stop it the clock is still ticking.
This week the Financial Conduct Authority warned the many interest-only mortgage borrowers who had not arranged a repayment plan to speak to their lenders as soon as possible, or risk losing their homes.
The FCA said it is concerned shortfalls in repayment plans could lead to borrowers being unable to meet demands for payment from lenders as the terms of their interest-only borrowing come to an end.
Lenders are writing to their interest-only customers to flag they must plan a way of paying off the capital, but borrower engagement rates are low, the FCA said.
Research by the regulator found nearly 70 per cent of borrowers written to fail to engage with their lenders.
There are currently 1.67 million interest-only and part capital payment mortgages outstanding in the UK, representing nearly 18 per cent of all outstanding UK mortgages.
4) Back in black list
Firms and advisers arousing industry suspicions of wrongdoing will be placed on a semi-secret watch list to warn businesses considering working with them.
The Pensions Administration Standards Association (PASA) is working on a closed list with names of pensions schemes and advisers that have been flagged up as potential scammers, to be shared among pension scheme trustees and providers.
Margaret Snowdon, chairman of the association, said the goal of the list isn't to stop any pension transfers, but to raise awareness among trustees and providers when a name in the list pops up, so they can increase their due diligence.
5) Inherit-ly complex
The chancellor has written to the Office of Tax Simplification asking for a review of inheritance tax (IHT), after describing the levy and the regime in which it operates as "particularly complex".
The letter, signed by Philip Hammond, asked the OTS to look at whether the system is fit for purpose, and whether there are any opportunities for simplification.
The review is expected to look at the process of filing returns and paying the tax, as well as whether the system distorts the way people decide on transfers, investments and other types of transaction.
Last year HM Revenue & Customs revealed the amount paid in inheritance tax reached its highest level since 1986 because of rising asset values.
damian.fantato@ft.com
