Losing the savings habit could damage economy
One often reads that the present generation of young adults has no habit of saving for a rainy day.
This is unfortunate but their motivations are understandable.
Regulation now requires that the ‘fact sheets’ about savings products shows the account balance on £1,000 after one year.
I have one of those sheets in front of me now which shows £1,001.20.
Frankly, who would bother?
Better ‘under the mattress’ – but of course, from there it gets spent.
Present interest rates only have any attraction for large sums invested, which most young people don’t have, or for cash tied up for several years, which doesn’t suit young adults.
It would be economically damaging if a succession of generations of young adults continued the lost savings habit.
Ultimately there would be a dearth of capital to lend to businesses and to issue as mortgages.
The entrenched long period of miniscule interest rates needs to end soon, and a more realistic level set.
Low rates may well suit entrepreneurs and mortgages but, maintained over a long run, they damage savings habits and eventually invested capital spirals downwards.
We are made of better stuff
In 1939, this sovereign nation of ours stood alone against the might of certain nations across the channel.
We didn’t bend the knee and capitulate to threats and intimidation, emanating from their leaders, but decided we would defend our hard won freedoms using all necessary means.
During those times, there were certain politicians who considered that foolhardy and we should roll over and accept terms which would have turned this nation into a subservient annex of those foreign powers.
The people of the nation, led by the strong Prime Minister Churchill, didn’t accept that cowardice.
We are made of better stuff.
A similar situation
exists with the decision made by the people, by referendum, to leave the European Union.
There are politicians, of certain persuasions, who consider that decision made by the people as crass and we must capitulate to the Brexit proposals, demanded by the European Union, or, even worse, try to bypass that referendum result and stay, by using any means possible, within the European Union.
There is no way the people of this great nation, led by our strong Prime Minister, will allow those politicians to deny them, the people of this sovereign nation, their chosen destiny of freedom and prosperity.
We are made of better stuff.
Complacency’s a threat to Brexit
What is Theresa May
playing at by hinting at increases in taxes and foreign aid in the run-up to the election?
That is a sure vote loser because they are both very unpopular policies.
It is also a sign of complacency caused by a large opinion poll lead.
I think she is taking the opposition too lightly and underestimating it.
If a Labour government or a Labour, Liberal and SNP coalition was returned because of Theresa May’s overconfidence, the European Union could quite easily get back in again through the back door because Labour, Liberal and SNP are all anti-Brexit parties.
R N Coupe