Good morning and welcome to your Morning Briefing for Thursday 11 September 2025. To get this in your inbox every morning click here.
Simon Collins: Supreme Court ruling sharpens focus on accountability
After an eventful few days at the beginning of August, we received judgment from the UK Supreme Court on the major law case (The Hopcraft/Johnson case).
The Court was examining the legality of lenders paying car dealers undisclosed fees when they broker car loans for consumers.
While the judgment has most impact on the motor finance sector, the discussion about unfair relationships and disclosure of commission has potential wider implications for financial services.
Treasury Committee slams ‘confused’ Lifetime Isa
The Government has declined to reform the Lifetime Isa (Lisa), despite repeated warnings from the Treasury Committee that the product is flawed and risks disadvantaging savers.
In its latest report, the Committee argued that the Lisa does not effectively target people in genuine need of financial support.
It called for reforms to align Lisa savings with pension savings under the Universal Credit means test.
MM 40th anniversary: The editors remember – Part 6, John Lappin
The person who edited Money Marketing between 2000 and 2009 can claim to have witnessed a transformation in virtually every sphere.
As John Lappin says, the regulators largely missed the growing crisis in the mortgage market that helped trigger the 2008 crash.
And he and the editorial team were also ahead of the curve when it came to shaping the debates around the Retail Distribution Review (RDR), initiated in 2006 and eventually implemented in 2012.
Back in 2015, he reflected on this seismic change in the sector…
Quote Of The Day
This ruling recognises and reaffirms the importance of safeguarding the independence of the Federal Reserve from illegal political interference
– Abbe David Lowell, a lawyer representing Federal Reserve governor Lisa Cook, on the decision by a federal judge to temporarily block Cook’s sacking by president Donald Trump
Stat Attack
Private schooling is a major financial undertaking for UK families, with many parents starting to save years before their child enters education.
New research from Investec Save highlights just how early parents prepare and how heavily they rely on savings accounts to cover rising fees.
£7,382
The average private school termly fee in January 2025, up 22.6% from £6,021 in January 2024.
20% VAT
Added to private school fees from the start of 2025 by the current Labour Government.
20%
of parents start saving for school fees before their child is born.
29%
begin saving in their child’s first year.
19%
start saving when their child is aged one to two.
25%
of annual school fees are expected to come from cash savings accounts, according to parents’ estimates.
22%
of parents hold around half (40%) of the necessary school fees in their savings.
Source: Investec Save
In Other News
Two independent financial advisers from Continuum are taking on a 240km cycling challenge across Slovenia to raise money for charity Eternal Flame.
Andrew Horne and Chris Miles will ride through the Julian Alps from Ljubljana via Škofja Loka, Lake Bohinj and Lake Bled, climbing to altitudes of up to 1,200 metres.
Eternal Flame supports communities in Lesotho and Tanzania with its “Eco Cook Bag”, a heat-retention product that allows food to be cooked safely and efficiently.
The charity’s work helps reduce CO₂ emissions, conserve water and fuel, and improve health outcomes in areas where billions still cook over open fires.
Horne said: “The altitude will be a real test of perseverance, but it doesn’t compare to the challenges faced by those Eternal Flame helps. Their work is truly transformational.”
Continuum said the ride reflects its advisers’ wider commitment to community and charitable initiatives. Donations can be made via JustGiving.
Rachel Reeves tells private equity bosses she plans to shut down more regulators (The Guardian)
British pharma industry says drug pricing stance hurts foreign investment (Reuters)
Did You See?
The government’s Growth and Competitiveness Strategy signals a welcome shift in ambition, writes Liz Field, chief executive of PIMFA.
Encouraging more people to save and invest is the right objective – not just for households, but for the wider economy.
But ambition alone will not deliver results. If these reforms are to succeed, they must be underpinned by a long-term commitment to financial literacy and access to trusted advice.
Our recent Growth Report, developed with UK Finance and KPMG, highlighted just how critical financial literacy is.
Across all ages and demographics, gaps in financial literacy prevent people from making informed decisions, engaging with financial services and building long-term wealth.
These gaps are not merely a matter of individual wellbeing. They constrain the UK’s ability to channel savings into productive investment and increase future reliance on the state.
