Share Sounds. presented by Gavin Oldham

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

Young adults with Child Trust Funds are personal investors, but over 40% of them don't know it. On Thursday 18th May the Public Accounts Committee met to find out more: this is the first half of their hearing following the March 2023 publication of a National Audit Office landmark report and its investigation into the Child Trust Fund scheme. Witnesses who took part were, for HM Revenue and Customs, Jim Harra and Emily Antcliffe, and for The Share Foundation, Gavin Oldham and Anthony Walker. Members of the Public Accounts Committee (all MPs) who attended were Dame Meg Hillier (chair), Sir Geoffrey Clifton-Brown (Deputy Chair), Olivia Blake, Flick Drummond, Peter Grant, Jill Mortimer and Nick Smith. The hearing ran for over an hour and a half: this is the first 48 minutes.

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

“The [Child Trust Fund] scheme has been closed to new entrants for over 12 years. In this time HMRC has been focusing resources on evaluating and improving existing schemes. We will continue to keep the need to evaluate old schemes under review.” So said Andrew Griffith MP, Economic Secretary to HM Treasury in reply to a parliamentary question from John Ashworth MP, Shadow Secretary of State for Work and Pensions. But this is not an 'old scheme' — there is currently over £1.7 billion sitting in mature accounts belonging to over 900,000 mainly low-income young adults throughout the UK who don't know anything about their good fortune! Their Child Trust Fund harvest is seeing too little action at present: but it's not too late to get it sorted, and the current focus from the National Audit Office and Public Accounts Committee will certainly help. Background music: 'Hopeful Freedom' by Asher Fulero

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 of inheritance tax receipts would transform inter-generational rebalancing. Background music: 'Everything Has a Beginning' by Joel Cummins

'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 some serious self-examination first. Background music: 'Confliction & Catharsis' - Asher Fulero Image source: https://rateyourmusic.com/

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

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

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 the dynamics of entrepreneurial endeavour and the deep level of commitment and risk shouldered by those seeking to build long-term businesses. Background music: 'The Plan's Working' by Cooper Cannell

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 full length podcast is two hours long