Counting the cost
Thank you for Tim Worstall’s excellent article criticising the financial transactions tax (FTT). The Institute for International Finance estimates that in the next five years new financial regulations will reduce real gross domestic product by 3.2 per cent, the loss equal to 7.5m jobs across the UK, US, Eurozone and Japan. Germany, the most vocal promoter of FTT, abolished its own FTT in 1991.
Ola, Canton, Michigan
Stick to lemonade
Vivi Friedgut’s article really hit the nail on the head – it is all very well starting to provide financial education in schools, but if the parents are clueless, they’re unable to help their kids.
Blackbullion sounds like a great initiative to educate parents too. Combining a bottom up and top down approach might just help people move away from the champagne lifestyle, lemonade budget approach to life.
Improving financial education will help get over the attitude that it’s only “spoilt Baby Boomers” who save – although we also need to stop penalising savers through government policy.
Graham de Montrose
My wife had a Dollarmite account growing up in Oz – she remembers fuzzy toys you’d get if you saved very well!
CEO, The Ed Group