Janice Turner's strikingly clear article in Saturday's Times (13/8/22) sets out why young people from low income households have such a struggle finding stability and economic security, after years of student debt, soaring house prices, and a much higher risk of split parents. In 2010 David Willetts' book 'The Pinch' was published, setting out the huge generational divide at that time: but over the past 12 years, the position has deteriorated significantly. Will Liz Truss call for change? Background music: 'Land of My Fathers' by The 126ers Links via https://www.shareradio.co.uk/thinkingaloud/newsletters/comment-wc-2022-08-15/
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Original Broadcast: Thought for the Week
Liz Truss and Rishi Sunak are both understandably focused on the UK economy, challenged by massive public debt and soaring inflation, but who will tackle the 'elephant in the room' of the gargantuan health and social care budget, which has resulted from seventy years addiction to socialist universality? We update our proposal first made in June 2018, since when the cost per adult of health and social care has doubled. Background music: 'Addicted' by VYEN
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Original Broadcast: Thought for the Week
Publication of the Austin Report by HM Treasury should herald a new era for a vibrant UK stock market and much greater profile for personal investors. However there needs to be significant improvements for the latter, including strengthened rights to share owner communication and voting for those whose holdings are in nominees, normalising the threshold levels for partaking in circularisations and resolutions, and the ability for personal investors to take part in the 'rump' sell-off of nil-paid rights so that personal investors as a genre are not diluted. It's a time for change .. Background Music: Hopeful Freedom by Asher Fulero
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Original Broadcast: Thought for the Week
People come in all shapes and sizes, and there are many people who have that strange combination of seemingly boundless energy and inherent unpredictability which are found in Mr Johnson. People who are more measured and reliable find them intensely frustrating, but there should still be a place for unconventional people, albeit not as prime minister. In this episode we find other examples in history of unconventional individuals who were also not accepted by many of the people with whom they worked, and we look not so much at weighing their offences but counting their merits in asking how the undoubtable strengths of someone like Boris can work for the benefit of all. Background music: 'Enable the Tiger' by JAde Wii
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Original Broadcast: This is Money
Base rate has gone from 0.1% to 1.25% in the space of six months, in a flurry of rate rising that would have been considered unthinkable a year ago. Yet, as the Bank of England delivered another 0.25% raise, voices were raised in some corners to demand why it hadn't gone further. Why not a 0.5% jump or even a 0.75% one, as the Fed had delivered in the US? With inflation running at 9% and expected to head north into double digits, the onus is on the Bank of England to show it has a grip and we aren't heading back to the 1970s. But is rapidly raising rates the right thing to do and how will it affect savers, borrowers and investors? Georgie Frost, Lee Boyce and Simon Lambert discuss the case for and against rate rises and what the impact is for the economy and people. Mortgage rates have risen even faster than the base rate, so what can those who need to remortgage do - and will this sink house prices? The team assess the prospects for the property market and offer their tips on what borrowers should do to prepare and protect themselves. Meanwhile, over in the US, it's the stock market that's suffering as rates rise. Why is that, and how bad could this bear market be? And finally, petrol prices keep hitting record highs and we want people to switch to electric cars but the Government has swiped away the £1,500 grant that helps people buy more affordable models. Will that make a difference, or has electric car demand reached a level where ditching a bung to help out is wise?
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Original Broadcast: Thought for the Week
The Bank of England expects the price inflation peak to be high, but short-lived: however if it feeds into wage inflation it could seriously undermine both national debt servicing and the property market: that's why the Government appears to be adopting a tight fiscal stance and announcing a large reduction in the civil service. Carefully targeted support with the swiftly rising cost of living is urgently needed for those most in need and, if the Government can't or won't respond, it could be enabled through the voluntary sector: with Government acting as catalyst. However this is a role to which they're not currently accustomed. Background music: 'Everything has a Beginning' by Joel Cummins.
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Original Broadcast: Thought for the Week
Will Johnny go marching home, after this awful set of mid-term elections for the Conservatives? He has the intelligence needed to steer this country forward, as he's shown with both Brexit and the Covid-19 vaccine strategy. However, he has a major handicap: he not only lacks a firm foundation in Conservative values, but he's also prone to falling foul of the cult of personality. As he can't seem to get to grips with this handicap, the Conservative Parliamentary Party should take steps to build a new leadership to move it forwards, closely aligned to its core values. Background music: 'Johnny comes marching home' by Cooper Cannell
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Adam Cox is joined by Chand Chudasama, Partner in Strategic Corporate Finance at Price Bailey, to discuss new data which highlights considerable investment growth for regions of the UK. They look at the sort of industries that are currently particularly popular with venture capitalists, and Chand gives advice to business owners currently looking for investment. www.pricebailey.co.uk
Guests: Chand Chudasama
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Original Broadcast: Thought for the Week
There's no question over Rishi Sunak's commitment to a strategy to encourage people to work; however, faced with a major cost of living crisis for those on the breadline,there's a real need to complement it with a strategy for sharing. If HM Treasury is not inclined to assist, it should at least set out a plan to encourage those who will. Accompanying music - Bike Sharing to Paradise, by Dan Bodan
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Original Broadcast: The Financial Outlook for Personal Investors
Chancellor Rishi Sunak delivers his statement, unabridged and with no additional comment. Major initiatives include a 5p/litre cut in fuel duty for 12 months, simplification and relief for energy saving home improvements, a doubling of household support via local authorities, a £3,000 increase in the National Insurance threshold, and a promise to cut the basic rate of income tax from 20p/£ to 19p/£ by the next election; plus reform of training, R&D credits and capital-raising.
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