General Election 2015: Nutmeg CEO Nick Hungerford wants a government that is honest about state pensions and embraces entrepreneurship

 
Nick Hungerford
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Nick Hungerford: A good government will encourage and empower people to save

ELECTION COUNTDOWN 24 DAYS TO GO

Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party.

NICK HUNGERFORD: CEO, NUTMEG

What I want is a government which is going to be honest with the people of this country about the challenges we’re facing. It’s only by facing up to our challenges, rather than trying to hide behind manipulated stats and figures, that we will really thrive again as a country.

I’D VOTE FOR A GOVERNMENT WHICH...

■ Is honest with under 45s and admit that there will be no state pension for them (we can’t afford it) except for the most disadvantaged. A good government will encourage and empower people to save whatever they can from an early age and make it attractive for everyone (not just the well-off) to do so.
They could start to tackle this problem by basing the pension cap on contributions rather than overall size of the pot. I also believe that there needs to be further efforts to crack down on high fees in the investment industry. Opaque and hidden fees are having a devastating effect on people’s life savings and something they’re often not aware of until it’s too late.
■ Re-invigorates sport by increasing sport budgets. It was such a shame to lose the momentum after the Olympics. For all the promised Olympic legacy it feels like there was really no concrete plan for how this was going to be handled, and now we see that legacy being broken up and sold off.
■ Recognises the importance of education towards entrepreneurship. Our future leaders could come from anywhere and entrepreneurial flair and spirit should be encouraged and nurtured at all levels of education. A huge step forward in this regard would be to foster a financially encouraging environment for University teaching staff to invest into and become involved with student start-ups.
■ Implements diversity measures that are just common sense. The painfully slow progress of equality in the workplace needs a shot in the arm from a government prepared to stand behind their commitments. All parents should have free choice about how they split one year parental leave – and there should be no stigma or fear over doing so. All public companies should have one board member under 40 years old. This would represent the changing customer demographic, enable companies to think longer-term and not be encumbered by legacy. Boards should be at least 1/4 female, rising to 1/3 by 2020.
Nutmeg is an online investment management service founded by Hungerford, a former stockbroker.

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