Share Sounds. related to Politics

On 5th July the Treasury Select Committee held an evidence session on the hot topic of inflation. Their witnesses included: Professor Sir Charles Bean, Professor of Economics, London School of Economics (LSE), Former member, Monetary Policy Committee, Former member, OBR Budget Responsibility Committee; Nina Skero, Chief Executive, Centre for Economics and Business Research; Stephen King, Senior Economic Adviser, HSBC; Dr Sushil Wadhwani CBE, Chief Investment Officer, PGIM Wadhwani, Former member, Monetary Policy Committee. This episode covers the first 50 minutes of the hearing and its conclusion with year-end predictions for interest rates — the full podcast is two hours long and can be accessed via https://www.shareradio.co.uk/podcasts/treasury-select-committee-evidence-session-on-inflation-full-length-07-jul-23/PodcastPlayer

In an episode first broadcast on 13th February 2020, just a couple of weeks before the Covid pandemic started, Professor Tim Evans of Middlesex University examined why big construction projects such as Crossrail and HS2 go over budget, what ought to be done about the BBC and its licence fee and he cast a look back over the UK's troubled relationship with the EU during its 47-year membership. In the light of Rishi Sunak's cancellation last week of HS2 north of Birmingham, it's interesting to note the strains in the HS2 project which were already evident three and half years ago. Meanwhile here's the link to our more recent commentary, Public Finance Disasters in Small Print: https://www.shareradio.co.uk/thinkingaloud/newsletters/comment-wc-2023-08-07/

It’s been called the most hated tax in Britain - but only 4% of people pay it. You could be forgiven for thinking inheritance tax is something only the super-rich need to worry about. But thanks to rising house prices and an increasing desire to transfer wealth between generations, more and more people are being drawn into the net. It happens not only when someone is left property or other assets from someone's estate, but also when they accept a gift from someone who passes away before the 'seven year rule' tax exemption kicks in. The Institute for Fiscal Studies says that that 4% could become 12% within a decade. And many of those who will never pay inheritance tax still hate the idea that the Government is taking a big cut of the wealth people have worked hard to build up over their lifetime. So it might come as welcome news that Rishi Sunak is reported to be considering cutting the tax, or even scrapping it altogether, as a potential vote-winner ahead of the next election. What’s wrong with inheritance tax, how could it be made fairer - and could the Government really just get rid of it? Simon Lambert, Helen Crane and Georgie Frost discuss. That’s not the only plan the Government is said to be hatching for our finances. It’s also reported that Chancellor Jeremy Hunt wants to increase the £20,000 annual allowance for saving into an ISA - but only for those who use it to invest money into companies listed on the ailing London Stock Exchange. The team consider what puts people off stocks and shares ISAs, whether the rules are too restrictive for the way we manage our money today, and whether encouraging people to pour money into a market which has had a bit of a tough time of late is a good idea. Plus, it’s a year since the disastrous mini-Budget which rocked the mortgage market. With a raft of reductions from big lenders this week, could rates on home loans finally be turning a corner now the base rate has been put on ice? And finally, we discuss whether the time might finally have come to commit to a fixed rate on your energy bills.

After the December 2019 election, Dominic Cummings brought HM Treasury under the heel of No. 10. Little did he realise that in 2023 the financiers would be running the whole show. Rishi Sunak, financier par excellence, thinks he is making long-term decisions for a brighter future. Not everyone agrees: but then a week is a long time in politics — or finance, come to that. Background music: 'Something Is Wrong' by Sir Cubworth Image source: BBC

As the Party Conference season draws to a close, we check out last week's rather lacklustre Conservative event and add some thoughts to Sunak's agenda for education. Meanwhile, for those more focused on how to invest and still meet the net zero targets, don't miss the Sustain:Social Investing Conference on Saturday 21st October! https://sustain.social Background music: 'Communicator' by Reed Mathis

In a world absorbed with tension and conflict, it says something about the significance of AI that Rishi Sunak was able to host the conference at Bletchley Park, with government representatives from twenty-eight nations and eight leading Artificial Intelligence businesses. Warnings abound both within and outside the AI industry, including for its impact on employment, to which we referred nearly six years ago. However, is the Bletchley Park gathering just evidence of the rich and powerful flexing their muscles yet again to take control? Surely we should be looking for an alternative, offering mass participation in wealth creation and democratisation through distributed governance? Background music: 'Digital Solitude' by Silent Partner

There's a rising crescendo of concern over HM Treasury's decision to leave tax thresholds frozen at current levels until 2028. At a time of high inflation, it particularly bears down on low- and middle-income earners, and itself keeps inflation higher for longer. Several suggestions have been made for alternative ways to sort out the public finances, not least in these Share Radio commentaries, but there's no indication of any willingness to sit down and talk: like an ostrich, heads are firmly in the sand. Background music 'The Nexus Riddim' by Konrad OldMoney

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 project: then check out William Hague's Times article, 'HS2 has gone from shambles to red alert'. Please visit the Share Radio webpage for links. Background music: 'Sarabande' by Joel Cummins

Unbridled revenge just leads to an escalation of the cycle of violence: in a world which possesses such an arsenal for mass destruction, we have to learn how to deal with national insecurity in ways which promote rather than destroy international harmony. In this episode of Share Radio's Thought for the Week, we set out realistic routes by which this can be achieved. Background music: 'Sarabande' by Joel Cummins

This week's Thought proposes four key routes towards 'Loving your enemy', including a gradual transition from national to international law. This would mean justice not being constrained by national borders, so we could look forward to a system of international civil law enforcement replacing reliance on military force to resolve criminal outbreaks — it would also help us to resolve the challenges of climate change. Another element is restorative justice: Nelson Mandela and Desmond Tutu showed the world that such a system can provide a pathway to peace in the most challenging of circumstances. These initiatives, based on an understanding of unconditional love and an equitable sharing of resources, can provide a way forward from our current woes. Background music: 'Everything Has a Beginning' by Joel Cummins. Image source: United Nations