View more on these topics

Political parties must pay if their policies fail

If people in hospitals washed their hands as often as this Government, there would be no MRSA crisis, I am sure.

As we saw in James Salmon’s article last week, the Government is now saying that the 125,000 pensioners who lost their pensions should have taken advice (presumably to transfer out of their doomed scheme).

This is the same Government which, with the benefit of flawed hindsight, has presided over the witch-hunt against advisers who have rescued people from such schemes, requiring irretrievable compensation payouts from the sources of advice (or their insurers, thus paying indirectly), which ultimately hits the pockets of investors.

It seems we live in an age where anybody can be fully accountable and liable except the Government which, if sued successfully, pays out with (yep, you guessed it) taxpayers’ money.

The time has come to have the political parties held accountable for flawed policies which are to the voters’ detriment. That way, the party (or their supporters, be they lenders or donors) can pay for their mistakes.

If democracy truly works (and money truly talks), the governing party will think twice about halfbaked policies which do not stand up to scrutiny, if supporters know their investment is at risk.

I also think that the motivation for making such loans or donations would be less questionable.

So, you might have guessed, I do not support the theory that political parties should be funded by the taxpayer. That way, the taxpayer pays for incompetence with no accountability. Political parties should be able to stand by their policies, with their party’s reputation at risk, if not its existence.

At the moment, we advisers – who can only persuade people to invest – are more accountable than they who can force people to invest. Is there anyone out there who supports this?

Glyn Evans

Foster Denovo, London W1


Grape expectations

Investing in wine and forestry has increased in popularity as investors seek to diversify their portfolios, says Helen Pow.

Global equities: time to de-risk?

While equity valuations have doubled since the financial crisis, Simon Edelsten explains that there are still pockets of value. But not where you might think Macro-economic uncertainty is causing turbulence in equity markets. Artemis Global Select Fund manager Simon Edelsten says his investment themes are taking him in a different direction to some of his peers – away […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm