An independent (financial adviser's) view

I'm often accused by the Good-Lady-Interior-Designer-Her-Indoors of having selective hearing; our dog, bless her, certainly has. But having lost heavily to the remainer LibDems and Greens, you don't get much more selective than Theresa May's "There was a simple message from these elections: just get on and deliver Brexit". Maybe there's hope yet for both Poppy and me...

“Doctors will go part-time if pension rules are not changed”

We’re not talking here about your Bentley-driving, Harley Street docs. These are the consultants who sort you out in A&E, remove your lumps and sometimes save your life. They earn a lot less than both Ed Sheeran and middle managers in, say, a tobacco or an oil company, but when they’re sitting on the end of your hospital bed, you’d pay them anything they want. If they work more (which they have to because there aren’t enough of them) more has to go into their pensions; if this takes them over the ridiculously complicated contribution limits, they get whacked with a huge tax bill. And not many of us love our jobs enough to do them for free. Even Ed Sheeran.

 “Gavin Williamson: ‘I was tried by kangaroo court – then sacked'”

If you’ve worked for a big company, you’ll know that most managers (except you, if you’re a manager in a big company and my client) have the people-management skills of a newt. And it often gets worse higher up the corporate food chain. Bang-to-rights or not, the manner of our Minister for War’s sacking would land any other incompetent MD in front of several tribunals and a roasting from the Chairman. In this case, that’s Her Maj; so I think Mrs May has more to fear from the apparently well-connected Mr Williamson. Remember Geoffrey Howe (kids etc.)?

“Corbyn sees off calls to back second Brexit referendum”

Corbyn won’t commit to a second referendum, of course, because the EU could stop him spending loads and nationalising everything.  Italy, as an EU member, had the same argument when its government pledged to fix the bridges, roads and country last year and eventually bottled it. Can’t have it both ways, Jezza and, as we’ve seen this week, not taking a stand could be electoral suicide. Assuming there’s an election; do we really need another vote?

“Who is worst hit by the decline in cash?”

Of course, I’m down with the kids, but I do now find myself venturing out walletless more often than not now I’m confident my ‘phone-pay-thing works. Is that really so bad? I’m sure there was outrage when banknotes were introduced in the 16-somethings, even though there were no pensions to be collected at the post office, because there were no post offices; plus ?a change. Coins long-ago stopped being worth anything; and if the internet and everything else goes belly-up, we’ll be back to bartering vegetables from our allotments anyway.

 “Investors move ￡62bn into Luxembourg and Dublin funds”

Yes, I know we’re getting hardened to or maybe just wearied by these stories but, sorry, they’re relentless, true and not simply remoaner propaganda. The trick now, of course, is to blame government dithering; either way, to protect both investors and profits, fund managers have been shifting assets and their HQs to EU bases, Dublin or Luxembourg 208 (kids etc.) from which they can market to both ‘us’ and ‘them’. Almost like getting a second passport, just in case.

 Back next week,