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The financial factor

Sep 18, 2008, 03:44 AM
Authors : Richard
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Post date : Sep 18, 2008, 03:44 AM
No financial news in The Sun today; hard to believe, I know.
Here we are in the middle of the biggest financial crisis since the last one, and the Page 3 financial correspondent (Katie, 23 from Liverpool) has been replaced by news of a ‘stunning X Factor wannabe’, who is a ‘raunchy nude model’.
Where’s the interest in that, I ask. So, it’s back to The Times.
What’s the front page headline?
‘Fear stalks the banks.’
This is followed by five pages of news including the Halifax ‘rescue’, 40,000 job losses, ‘black holes’ (of the financial rather than the cosmic type), the state of Morgan Stanley, falling credit ratings, banks in ‘the terminal ward’, and ‘Someone has made a fortune. I hope they’ll pay for what they’ve done to us’.
Once we get past this, what’s the next item of interest?
Ah yes, page 12, our other favourite subject: ‘Sex pamphlet horrifies family lobby’.
Apparently, the Family Planning Association has published a sex education pamphlet entitled aimed at six-year-olds, Let’s Grow with Nisha and Joe, which helps children identify their ‘physical differences’.
The FPA hopes that the pamphlet ‘will encourage parents to talk to children about what will happen to their bodies when they grow up’.
What I wonder is whether six years old would also be a good time to get parents to talk to their children about understanding their financial and tax affairs, rather than just their future affairs.
This evening I start writing my pamphlet: Let’s Tax with Jemima and Max.
This will explain the potential differences between the tax affairs of people who can afford to speculate in the stock market - 'this'll be capital and taxed at 18%, or maybe we can move to Monaco and pay none' – and the less well-paid: 'Let’s pay tax at 20%, 40% and Class 1 NICs on top and see the value of our pension funds and properties seriously eroded when the City’s greed finally gets totally out of hand'.
OK, enough of that.
Maybe I’m being a bit cynical and simplistic, but is it only me who thinks that what some of these people have been doing to the economy is not that far removed from the subject of the first pamphlet?

Buck the market, read
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