Full English Accompaniment – Embracing change

I am increasingly frustrated by state and institutional approaches to long-term planning. Working in the NHS means I’ve long known the government takes a quick fix strategy, rather than actually calculating the most effective long-term solution. I naively assumed that this would not be the case for industry, or industrial planning. Proper industrial & financial planning has worked for so many countries, surely we would look at five-ten year plans in the UK. I was wrong, and it makes me sad.

What brought this to the forefront of my thinking? Government announcements this week about strategies to help with housing. Since the 1950s there has been low levels of housebuilding in the UK, and much of the UKs property market is underutilised. What is the Governments strategy? Fanfare-laden ‘Generation Buy’, a tagline for a plan to remove the financial risk restrictions imposed after the 2008 housing bust-up (1). 95% mortgages here we come. BoJo told the Telegraph he wanted to “create a “Generation Buy” of young people enabled to engage in the world of capitalism by investing in their own home” (1). I mean the only reason they can’t invest in their own home at the moment is the disequilibrium of house price/ earnings, but much easier to create further debt and financial risk than either a) increase earnings or b) decrease house prices. Plus the tory bedrock are satisfied as their house prices continue to increase after the COVID lockdown uptick (2).

All the while the world burns. Literally in some places. You’d be forgiven for missing the massive toxic waste spill that’s occurred in Kamchatka this month (3). Huge swathes of seabed sterilised. Only coming to light after surfers come ashore blind due to chemical burns. That doesn’t matter though. Much more important things going on that deserve column space, like mineral firms potentially becoming pawns in geopolitical battles (4).

Thankfully a few people pay attention to natures warning signs. Crusty suits and stuffy politicians may be avoidant of new ideas, but the market isn’t. Plenty of investors and companies, including among the FI community, are putting funds into change. DIY Investor UK is a great example, investing in a fossil free portfolio that follows his convictions (5). Gentleman’s Family Finances documents his experiences with Abundance, a platform that enables you to invest in bond/loan-type products for sustainable projects (6, 7). Both Abundance and rival Clim8invest are currently raising money through Seedrs/CrowdCube (7, 8). Where the is interest, there is a market.

I am left with a speck of hope. People will vote with their feet, and if enough people invest or spend sustainably then progress will follow the money, not Governmental plans. Change will happen.

Have a great week,

The Shrink

N.B. This is likely to be the last Full English for some time, for NHS/ personal reasons. The UK FIRE Blog RSS tracker will remain here for your weekly fix of posts: UK FIRE Blog Feed

News:

Opinion/ Comment/ Blogs:

References:

  1. https://www.independent.co.uk/news/uk/politics/boris-johnson-generation-buy-mortgage-deposits-b754599.html
  2. https://www.theguardian.com/business/2020/oct/07/uk-mortgage-approvals-at-12-year-high-as-house-prices-keep-rising
  3. https://edition.cnn.com/2020/10/07/asia/russia-kamchatka-toxic-marine-life-death-intl/index.html
  4. https://www.telegraph.co.uk/business/2020/10/04/us-invests-british-miner-fight-chinese-control-rare-metals/
  5. http://diyinvestoruk.blogspot.com/2020/10/fossil-free-portfolio-update.html
  6. https://gentlemansfamilyfinances.wordpress.com/2020/10/05/literally-investing-in-abundance/
  7. https://www.abundanceinvestment.com/
  8. ww.telegraph.co.uk/business/2020/10/04/us-invests-british-miner-fight-chinese-control-rare-metals/
  9. https://www.ons.gov.uk/economy/grossdomesticproductgdp/timeseries/dgd8/ukea
  10. https://www.thisismoney.co.uk/money/saving/article-8786339/Rate-cuts-come-fast-brutal-NS-blow.html%E2%80%A8
  11. https://www.theguardian.com/business/2020/sep/27/bank-of-england-rate-setter-backs-negative-interest-rates
  12. https://www.independent.co.uk/arts-entertainment/films/news/cineworld-close-cinemas-after-no-time-die-delayed-b772792.html
  13. https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers
  14. https://www.telegraph.co.uk/money/money-makeover/money-makeover-33-nine-buy-to-lets-can-retire-40/
  15. https://www.bbc.co.uk/news/business-54370026
  16. https://www.bbc.co.uk/news/newsbeat-54432739
  17. https://finance.yahoo.com/news/achieve-financial-independence-170047857.html
  18. https://earlyretirementinuk.blogspot.com/2020/10/end-of-month-report-september-2020.html
  19. https://sparklebeeblog.wordpress.com/2020/10/01/monthly-update-sep-2020/
  20. http://quietlysaving.co.uk/2020/10/03/september-2020-plus-other-updates-2/
  21. https://firelifestyle.co.uk/2020/10/03/financial-update-19-summer-is-over-october/
  22. https://playingwithfire.uk/september-2020-big-spending-alert/
  23. https://awaytoless.com/monthly-spending-september-2020/
  24. https://www.onemillionjourney.com/savings-september-2020/
  25. https://firevlondon.com/2020/10/04/sep-2020-update-on-a-zero-month-and-on-q3/
  26. https://pathtolife2.com/2020/10/05/financial-independence-update-september-2020/
  27. https://sassenachsaving.home.blog/2020/10/05/september-net-worth-and-goals-update/
  28. https://www.moneymage.net/2020-september-savings-report/
  29. https://www.thefrugalcottage.com/dividend-income-september-2020/
  30. https://thesavingninja.com/savings-report-27/
  31. https://adotium.co.uk/2020/10/03/autumn-2020-report/
  32. https://moneygrower.co.uk/third-quarter-dividend-income-2020/
  33. https://obviousinvestor.com/p2p-lending-portfolio-update-september-1st-2020/
  34. https://southwalesfi.co.uk/2020/10/09/fees-and-fire/
  35. https://averagemoneymanagement.wordpress.com/2020/10/09/cost-vs-value/
  36. https://www.itinvestor.co.uk/2020/10/10-years-of-fundsmith-equity/
  37. https://bankeronfire.com/office-puppet-show
  38. https://indeedably.com/millionaire/
  39. https://moneybulldog.co.uk/do-you-really-need-pet-insurance/
  40. https://littlemissfire.com/how-to-get-paid-to-walk/
  41. https://lifeafterthedailygrind.com/lifestyle-inflation-how-luxuries-become-necessities/
  42. https://sassenachsaving.home.blog/2020/10/11/the-true-cost-of-having-children/
  43. http://eaglesfeartoperch.blogspot.com/2020/09/conservatory-design-build-part-3.html
  44. https://www.ukvalueinvestor.com/2020/10/best-and-worst-performing-stocks-through-the-pandemic.html/
  45. https://simplelivingsomerset.wordpress.com/2020/10/09/padawan-recency/
  46. http://fiukmoney.co.uk/21-year-old-net-worth-and-fire-plan-update-2/
  47. https://diseasecalleddebt.com/what-are-the-financial-concerns-of-relocating-for-love/
  48. https://gentlemansfamilyfinances.wordpress.com/2020/10/02/month-end-september-2020/
  49. https://gentlemansfamilyfinances.wordpress.com/2020/10/07/home-improvement/
  50. https://gentlemansfamilyfinances.wordpress.com/2020/10/09/will-covid-affect-your-future-spending-patterns/
  51. http://diyinvestoruk.blogspot.com/2020/10/ocado-portfolio-addition.html
  52. http://diyinvestoruk.blogspot.com/2020/09/ceres-power-full-year-results.html
  53. http://diyinvestoruk.blogspot.com/2020/09/green-homes-grant.html
  54. https://asimplelifewithsam.com/2020/10/01/your-future-self/
  55. https://monevator.com/the-slow-and-steady-passive-portfolio-update-q3-2020/
  56. https://monevator.com/low-cost-index-trackers/
  57. https://monevator.com/are-you-ready-to-spend-all-your-money/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s