Original Broadcast: Thought for the Week
With the summer holidays drawing to a close in the next few days, the new team at HM Treasury will be busy looking at fresh ideas for the Budget on 28th October. The challenging economic situation calls for a fresh look at some of the underlying strategies which have driven debt so high over the past half-century. The really big problem is the extent to which 'universal, free-at-the-point-use' health care has caused deep generational unfairness; that, combined with the triple lock and unfunded state pensions, place real burdens on young generations. It's time for a major change in the underlying logic. Background music: 'People Watching' by Sir Cubworth
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Months of drought are gradually waking us up to the fact that climate change really is a serious concern: if we're not going to stop it, then we have to take mitigation action seriously. Fresh water is our most critical natural resource: the only alternative to rainfall is desalination. Once again, democracy's great Achilles Heel of short-termism is letting us down. Politicians must accept that the era of treating fresh water as an unlimited resource is over, and new strategies must be developed to tackle the challenges ahead. Background music: 'Trickle of Water' by Underbelly & Ty Mayer.
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Original Broadcast: Thought for the Week
In response to Andy Burnham's invitation to join his cross-party working group on overhauling social care arrangements throughout the United Kingdom, Sir Ed Davey called for diversity while Kemi Badenoch said it mustn't increase public spending. However there are other deep questions to answer as well: such as how to prepare people better for old age; will they be prepared to seize the opportunity to end universality and focus on targeted support, including for health care; and whether they can bring in a new focus on inter-generational rebalancing? Background Music: 'Young And Old Know Love' by Puddle of Infinity
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Original Broadcast: Thought for the Week
Not surprisingly, the proposal from Gary Lineker and his millionaire colleagues for a wealth tax has been met with ridicule — Robert Colvile writing in the Sunday Times says, 'The problem isn't that those who've signed the pledge are hypocrites. It's that they're idiots'. However, there is an alternative approach which could bypass gargantuan Government spending. Donating the equivalent sum to a charity of the philanthropist's choice would enable targeted support based on their analysis of need. This could provide a direct solution for the challenge of inter-generational rebalancing so that future generations are better placed to tackle national debt and future public sector payment obligations, which now exceed £9 trillion. Background music: 'Intellect' by Yung Logos
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Original Broadcast: Thought for the Week
Thomas Jefferson's claim that all are created equal with the rights of life, liberty and the pursuit of happiness attracts lip service from politicians but not much commitment: they either want to take away liberty in the pursuit of equality, or to deny that wealth polarisation results from the black hole of economics. Will Andy Burnham also turn a Nelsonian blind eye to this challenge, allowing domestic parochialism to take precedence over the search for a new way forward where all can enjoy the benefits of individual freedom and economic empowerment — a genuinely new political and economic model? Background music: 'Hopeful Freedom' by Asher Fulero
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Original Broadcast: Thought for the Week
The wish to tackle inter-generational rebalancing — to break the cycle of deprivation — leads directly to establishing long-term savings accounts for disadvantaged young people: that's why the Child Trust Fund included an HMRC-allocated category for those children (mainly low-income) whose families didn't open accounts. However Government needs to not only open these accounts but also monitor and take steps to deliver them in order to ensure that these young adults actually receive the resources they need in order tob achieve their potential in adult life. A parliamentary event is taking place on 15th July, asking Andy Burnham to prioritise this. Background music: 'Not Forgotten' by Dan Lebowitz
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Original Broadcast: Thought for the Week
The major economic challenges confronting humanity — including the chronic and acute polarisation of wealth — are global in character, just as the major environmental issues. However, nations are too reticent to establish effective global governance to deal with them. All the signs are that Andy Burnham will take quite the opposite approach, with his emphasis on regional devolution within the United Kingdom. This is why it is so important to build awareness and debate on the merits and methodology of a global approach to egalitarian capitalism. Background music: 'The Plan's Working' by Cooper Cannell
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Original Broadcast: Thought for the Week
As the United States approaches the 250th anniversary of its independence, what better way for Donald Trump to anchor his legacy in the minds of all young people born during his presidency than granting them a $1,000 contribution when their Trump Account is opened? However, as Michael Dell and other philanthropists have shown, we need to focus on the most disadvantaged in order to break the cycle of deprivation. The Share Foundation and Share Alliance show how to do this, alongside initiatives such as this new American starter capital account. Background music: 'Everything Has a Beginning' by Joel Cummins
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One of the extraordinary sights in nature is starling murmurations — hundreds of thousands of birds in what looks like a co-ordinated dance, but without any central control. It can be seen as a metaphor for humanity: individual freedom means charting your own way through life, but with respect for others. As yet again we face leadership in uncertainty, politicians need to learn that we don't need them to be prescriptive about how people should live, or to run everything on their behalf. Will Andy Burnham respect individual freedom? Time will tell. Background music: 'Floating Home' by Brian Bolger. Image source: YouTube
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Original Broadcast: Thought for the Week
Starmer's clarion call for the 2024 General Election was 'Change', somewhat different from Tony Blair's 'Education, Education, Education'. However, in contrast to Blair's delivery in Government, Starmer has got stuck in a morass of inaction, bogged down by the crisis in public finances and an unwillingness to tackle the big issues. The biggest of these is welfare spending, major changes to which former Chancellor Sir Jeremy Hunt recognises as the only way out of this dilemma. As we said on 26th May, it's time to call 'time' on 75 years of democratic socialism (and yes, let's remember that the Conservatives tacitly went along with this also). Background music: 'Taking in The Changes' by Everet Almond
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