Hrkn to .. Thought for the Week

Government Debt at the end of June '23 was £2.53 trillion, or £38,000 for every person living in the UK. This will be increased by 10% as a result of HM Treasury indemnifying the Bank of England for their QE losses and the cost of the dysfunctional HS2 project. Hidden away on page 54 of the Infrastructure and Projects Authority Annual Report is where you can find their assessment of the huge HS2 p...

Dame Meg Hillier is Chair of the Public Accounts Committee, which has published its 25-page report into Child Trust Funds following the recent National Audit Office analysis. HMRC is asked to follow a series of recommendations to link young adults to their unclaimed accounts, including getting account providers to take more action. Young adults from disadvantaged households are most in need of the...

In mid-2022 there were 716,000 people economically inactive in the United Kingdom because of mental health and neurological conditions, including depression, nerves, anxiety and autistic spectrum disorders: an increase of 33% from 2019. 196,000 of these people were aged 16-34. Part of the explanation is the scar left behind from the pandemic. But that in itself points to a malaise which is rooted...

With aggregate annual licence fee income of £3.7 billion, a degree of self-interest and parochialism which permeates its coverage, and swiftly-reducing interest from young people, the BBC's 100th anniversary poses more questions than answers. Meanwhile the National Health Service, celebrating its 75th anniversary, spends over £158 billion a year in England alone: but still struggles with record wa...

The shining towers and ivory walls of the City of London — many of our financial trials and tribulations can be traced back to October 1986, when the clear distinction between self-interest and acting in the interests of customers was abruptly brought to an end in the 'Big Bang'. Among those who saw it all happen was legendary market-maker Brian Winterflood MBE, who died on 29th June. His financia...

What is the psychological effect of individual ownership — and, notwithstanding the low starting point, how can we bring a sense of ownership right across society? Is the rate at which people discount the future impacted by their sense of ownership and thereby their sense of responsibility for the future? Background music: 'Everything Has a Beginning' by Joel Cummins Share Radio webpage for links...

Last Saturday's trail of chaos exposes the challenge facing Russia, absorbed in conflict and with its people living in fear and poverty. Plans are urgently needed to find a way out of this mess: but it has to start with ending the violence in Ukraine. Could there be a role for UN peacekeepers to help while Russia looks for a new way forward? Background music: 'Russian Dance' by Joey Pecoraro Share...

'What is Truth?', were Pilate's last words to Jesus on Good Friday. We all experience being economical with the truth, although the Privileges Committee clearly regards itself as above such a challenge. The result for Boris Johnson is a trashed reputation, alongside others who have experienced a sudden fall from grace. There should, however, be a road back from outer darkness, but not without firs...

Entrepreneurial activity is the throbbing heart of business and economic growth, but Evelyn Partners have discovered that 40% of business owners are planning to exit within the next year faced by the spectre of a massive rise in Capital Gains Tax if Labour wins next year's General Election. It's therefore critically important that the Shadow Chancellor, Rachel Reeves builds a full understanding of...

Former Chancellor of the Exchequer and Children's Minister Nadhim Zahawi MP set out a strong case for abolishing inheritance tax in last Wednesday's Telegraph. It certainly needs its purpose defined and structural reform — however young people from disadvantaged backgrounds really need starter capital accounts and life skills to break the cycle of deprivation that ties them down, and hypothecation...

Andrew Griffith MP, Economic Secretary to HM Treasury, wants to see a greater appetite for risk to encourage investment in British business. It's good to hear such a positive approach, but let's make it quoted-equity focused; debt and private equity are not the way forward for long-term success. Background music: 'The Nexus Riddim' by Konrad OldMoney Share Radio webpage for links Learn more about...

There's currently over £1.7 billion sitting in mature Child Trust Funds belonging to over 900,000 mainly low-income young adults throughout the UK who don't know anything about their good fortune. Linking these accounts to their rightful owners is seeing far too little action at present: Andrew Griffith MP, Economic Secretary to HM Treasury recently dismissed Child Trust Funds as an 'old scheme'....

'Stop the boats', calls the UK Prime Minister, but there's no linking of his short-term strategy to the big global issues which are driving migration: conflict, poverty and climate change. That's why the Archbishop of Canterbury called for a new approach in the House of Lords last Wednesday, seeking to tackle the causes rather than just the symptoms, and calling for a long-term perspective to addr...

Democracy is a great blessing, but it has a major Achilles Heel — it is not good at coping with all the long-term issues which are growing in number and importance. Trying to address long- and short-term issues together without specific definition will always handicap the former. That's why Princess Anne focused correctly on this challenge in her interview with the Canadian Broadcasting Corporatio...

As we progress through the pomp and splendour of the Coronation over the next few days, many will be asking themselves ‘what is the relevance of the monarchy in today's world?’. Will King Charles reign forward, spending the majority of his time travelling the world and building one human family in which discord can become a thing of the past? Or will he just rein back here in the United Kingdom, a...

Dire warnings about the damage from climate change, plus the war in Ukraine, mean that we need to wean ourselves quickly off fossil fuels. However the investment markets are very slow in re-aligning opportunities in quoted investment markets: personal investors need to be able to invest in massive renewable energy projects such as Xlinks, but private equity and institutions have got in there first...

The first SHARE conference in Cambridge last Friday provided much food for thought, and comments particularly drew attention to the need for widespread understanding of stock ownership if 'Stock for Data' is to take hold. In financial terms and because equity stock in companies is a surrogate for human enterprise, earnings from capital growth and dividends massively outperform bonds and cash over...

There's a real logic to maintaining economic dynamism throughout the broad span of adult life: our commentary today picks up on recent reports in The Times on the extent to which parents and grandparents help out, on the value of incentivising young people to build early experience in the workplace, and how fresh ideas and opportunities can bring new potential for those of more mature years. If yo...

The climax of the Easter story, for those of a Christian persuasion, is resurrection: something which should concern us all, because we're all going to die one day — and this is about life after death. Drawing on reason and logic, and referencing great intellectual thinkers throughout history, Revd. Canon Rosie Harper contributes her thoughts to help you make sense of it all. Background music: 'Er...

At first sight the challenges facing TikTok and John Lewis appear very different. For the former, it's the risk of being denied access to much of the free world as regulators clamp down over concerns of it becoming a major security threat. For the latter, John Lewis's need to raise investment is threatening the partnership which staff and customers hold in such high regard. These very different pr...

The big ticket item this week is the House of Commons Privileges Committee, which is holding a televised evidence hearing with Boris Johnson on Wednesday 22nd March. Select Committees do an important job holding Government to account, and the most powerful is the Public Accounts Committee which oversees the delivery efficiency and effectiveness of Government programmes. They're able to draw on obj...

For the past 250 years, starting with Adam Smith, there have been valiant attempts to set out principles for taxation: but they have been principally domestic, and with no attempt to address inter-generational rebalancing. Without specific provisions requiring hypothecation of inheritance levies it's hard to see how disadvantaged young people can be empowered with resources and life skills so that...

“Give your grace abundantly to our European Union Leaders, that they may lead with wisdom and insight”, prayed Archbishop John Sentamu in early 2019. But it only became possible to knock sense into Brexit negotiations with the EU once Boris, armed with his very direct slogan ‘Get Brexit Done’ and with his impressive parliamentary majority following the December 2019 general election, took the EU b...

Putin's two-hour monologue in Moscow last week sought to justify his assault on Ukraine with a raft of dogma, including a presumption of divine male headship - hardly the basis for economic and social justice for all. Elitist theories, whether based on gender, race or nationality, have no place in an egalitarian, peaceful world: it is men, not women, who start wars and fill the prisons. Likewise,...

Just as Nicola Sturgeon steps out of Scottish politics and Rishi Sunak struggles with the Brexit Protocol for Northern Ireland, my attention was drawn to some world-leading legislation passed by the Welsh Government in 2015: 'The Well-being of Future Generations Act'. Recognising the degree to which modern society impacts the future so much more than any of the generations which have preceded us,...