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Episode 2 – Tim and Wealth Distribution

A discussion between Ian and Tim, a long-standing friend, about wealth distribution in the UK.  The topic meanders its way through various taxes and benefits and concludes that the current system is wholly broken.

Links:

Peat Bogs 
https://www.nytimes.com/interactive/2022/02/21/headway/peat-carbon-climate-change.html

Who Owns England?
https://whoownsengland.org/

Income tax rates and allowances
https://www.gov.uk/income-tax-rates

National Insurance rates and allowances
https://www.gov.uk/browse/tax/national-insurance

Inheritance tax rates and allowances
https://www.gov.uk/browse/tax/inheritance-tax

Wealth in the UK
https://www.ons.gov.uk/file?uri=/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/datasets/totalwealthwealthingreatbritain/july2006tojune2016andapril2014tomarch2020/totalwealthtablesfinal1.xlsx

Hierarchy of Needs
https://en.wikipedia.org/wiki/Maslow%27s_hierarchy_of_needs

The wealth calculation I referenced was £14tn total wealth divided by a population of around 70 million, which is around £200,000 average wealth per person, not the £280,000 I referenced in the talk, which was likely due to using somewhat different numbers.  For a family of 4, that means they should have a combined wealth of some £800,000 if they have the average.

Table 2.14 of the ONS data shows, though, that individuals have a huge range of personal wealth, with 10% of the UK population having less than £20,000, another 14% having between £20,000 and £85,000, and a further 13% having more than £85,000 and less than £200,000.  This means that 37% of individuals in the UK have less than the average wealth figure, some considerably so.  Conversely, some 40% of the population is fortunate enough to individually own at least £500,000 of assets.

I misremembered Maslow’s Hierarchy of Needs as Markov’s Hierarchy of Needs.  Correct link is posted above.  A good summary diagram is available here:  https://en.wikipedia.org/wiki/Maslow%27s_hierarchy_of_needs#/media/File:Maslow’s_Hierarchy_of_Needs2.svg 

Hazeena A

Ian, thank you once again for your support. It means a lot.

Thank you so much for [creating this petition] and so amazingly quickly!!!

You did a brilliant job on both the blog and petition. Some of the NHS staff were even impressed with the speed at which you addressed this, and I have had varying positive comments from friends who have read your post.

Hazeena A – Ruislip, Northwood & Pinner Resident

Sheena Y

Having worked with Ian I can say that I found him incredibly transparent and honest which I think would be rare and much needed in today political arena. He is also very clever, direct and a great communicator.

Sheena Y, former co-worker

Andy H

Ian is a very smart individual, but more importantly is honest and truly cares about people.

He is an unselfish individual and would absolutely have the public’s best interests at heart.

Andy H, brother

Luca M

I met Ian a few months ago for the first time and straight away I felt confortable with him and I thought: ” Ok I would trust that guy”.

Luca M, fellow speakers’ club member

Francisco V

Throughout the 12 years I have known Ian, he has always demonstrated to be very bright, kind and upright. I’ve seen all of these attributes in his personal life, for instance, in our sport association he volunteered as treasurer where he improved the overall system and costs as well as championing charitable giving & generous donations. He’ll definitely make a difference in a bigger role in politics.

Francisco V, fellow jū jūtsu instructor and friend

Irene H

You have the moral integrity and high standards in all aspects of the requirements of your potential constituents. You will stand up to injustice and defend those deemed to have had injustice against them. You are committed to environmental change and to look after the less well off in society.

Irene H, mother

Graham C

First and foremost, your personal ethos of kindness and care for others is your top qualification. That you are also highly driven with a need to be productive, and understand very complex matters such as financial systems, makes you stand out.

Graham C, fellow jū jūtsu instructor and friend

Anonymous

You are one of the most principled people that I know. You are committed to making changes that support the most vulnerable in our society and you don’t give up when you know you’re fighting for what’s right.

Anonymous

Helen C

Integrity.
Unlike the rest of us who are disillusioned with the lack of honesty, morals, and the unfair and outdated ‘public schoolboy network’ displayed by this government, you have decided to stand up and make a difference.
Your constituents couldn’t have a better candidate.

Helen C, Aunt

Miles H

Having known Ian for a number of years during which we worked closely as Financial Advisers, I am confident that he would make an excellent MP. Ian is an intelligent man who has the ability to absorb, understand and manage complex information quickly; I have, on many occasions, witnessed him do this whilst retaining the ability to explain it, in a manner which is easy to understand.

I have seen Ian display the courage of his convictions on a professional level, where he has put the clients needs before that of the company and have no doubt he would carry this attitude into public life.

Ian and I have disagreed on politics in the past, but he has always listened carefully to any position and taken time to offer a thoughtful response. If he became an MP I am sure his constituents would benefit from an effective and hard working representative.

Miles H, former co-worker

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