The Personal Finance Society has called for a four month ‘waiver’ for financial advice firms struggling to find affordable Professional Indemnity insurance during the Coronavirus pandemic.

Leading economists expect UK Gross Domestic Product to decline by a record -8.6% this year before bouncing back strongly in 2021 with a rise of 6.2% predicted next year.

The Treasury has relaxed pension tax rules to allow more retired key workers, such as police officers, to return to duties to help tackle the impact of the Coronavirus outbreak.

The Personal Finance Society has urged the FCA and the Treasury to do more to ensure consumers can access financial advice during the Coronavirus outbreak.