Questions, questions, questions

A few questions I'm struggling to answer after a long weekend. Anyone offering enlightenment please do get in touch...

1 - Could there possibly be any more explosive tax measures left undiscovered in a Budget that seems designed by a government intent on self-destruction? We've had the 10p income tax debacle; we've had the hidden hike on cars; now it's emerged that changes to tax on foreign profits could be the final straw for companies who are looking across to Ireland and beginning to think both the grass and the tax regime look much greener on the Emerald Isle.

2 - Just how much schadenfreude should we apportion to estate agents, who are having to close branches at the rate of 150 a week? In a world dominated by bad news this may give some a warm feeling. But if the demand has fallen that low then DIY stores, removal firms etc etc will probably also be hit and on it ripples into the economy. Oh who am I kidding? This is pretty amusing.

3 - How long can UBS go on writing down investments tainted by the sub-prime fall out? Today it announced about £5.5bn had gone awry in the first quarter. This is beginning to look plain careless chaps.

4 - As Lord Woolf comes out with his report into ethics at BAE, should we really be judging the company on its behaviour in the 1980s when we're well into the 21st Century? I don't see the French or Germans going over 20 year-old arms deals with a fine tooth comb. The whole thing is so very British, isn't it?

5 - Finally - and by far and away most important - is it time to go on holiday? A director of a leading investment house advised me this morning to learn from the old adage of "sell in May and go away". He thinks markets are overbought and May and June will also see fall out from high oil prices and weak US/European economic data. I'm off to pack my bags.