Original Broadcast: Thought for the Week
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 all may share in future wealth creation. Don't expect change in this week's Budget, but the Treasury Select Committee should look again at the principles they established over ten years ago. Background music: 'Dark Alley Deals' by Aaron Kenny
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Let's hope that, as we approach 2023, we can start looking ahead in contrast to the wave of pessimism with which we greeted 2022, and which has proved to be so accurate in retrospect. Is it too much to hope that we are at the nadir of the economic cycle, and at the point when tyrants recognise the limits of force and suppression of individual freedom? Is it unrealistic to imagine a world in which we share our resources more willingly, and empower young people from all backgrounds to achieve their potential? The next two weeks will give us a chance to reset the dial — we must do better in 2023. Background music: 'O Holy Night' by DJ Williams
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Original Broadcast: Thought for the Week
The UK Office for National Statistics reports that one person in every six was born overseas. It's evident that geographical mobility is already with us: the problem is now social mobility. Solutions lie not with parochial nationalism, but in working with business and organisations with an international governance remit such as the UN for a long-term resolve, just as we are attempting to do with climate change. Background music: 'Wandering Soul' by Asher Fulero image source: Hippopx https://www.hippopx.com/
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Original Broadcast: Thought for the Week
Hardly a day goes by without yet more evidence of our approach to empowering the next generation being wholly dysfunctional; the gap between Baby Boomer and Millenial wealth is reaching record proprtions. Meanwhile, as President Biden made his bold move last week to cancel student debt, it provoked an explosive eruption of criticism from Wall Street Journal readers. Here in the UK, another initiative to help the young, the Child Trust Fund, has over £1 billion waiting to be claimed by young adults, almost all from low-income backgrounds, due to a lack of focus from Government. It's hard to avoid the conclusion that we are a selfish and short-sighted generation of ‘Baby Boomers’ — we need to stand back and take stock of our failure to empower coming generations. Background music: 'Future Glider' by Brian Bolger Please visit Webpage for charts and links: https://www.shareradio.co.uk/thinkingaloud/newsletters/comment-wc-2022-08-30/
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Original Broadcast: Thought for the Week
Are rich people who come from poverty more likely to be sympathetic to others in poverty because they understand their lives? Jack Ma, founder of Alibaba, clearly isn't: here he is speaking in 2014 'You are poor because you have no ambition'. And a new study confirms that those who make the journey from rags to riches are more likely to pull the ladder up behind them. It goes to show that, if we want a fair and just society where young people have not only the life skills but also some resources to achieve their potential as an adult, we must build the strategy into the structure of our economic governance: much as public health and addressing climate change are accepted by an all-party consensus. Background Music: Waterfall by Aakash Ghandi
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