Treating poor customers fairly

As the Treasury and the FSA ask interested parties to comment on compensation arrangements should a bank go bust, Polly Toynbee writes in the Guardian’s Comment is Free blog about low income savers and their levels of protection. 

Polly’s fantastic writing echoes my own feelings about the level of care and protection we offer typically low income families.   Though since this article, I was pleased to read that the Post Office is launching a Christmas savings club.

HBOS provides some useful data about levels of savings in the UK.  Even in some of the most prosperous parts of the country, average savings are less than £20,000, so why are all consumers being expected to pay for a compensation scheme for customers with savings over £35,000?  The Financial Services Compensation Scheme is funded by financial services organisations.  If funding is increased, then ultimately customers will be paying for this through increased charges.

While this is a politically popular move, I remain to be convinced this really helps those who need the protection.

The North South Divide

I attended a lecture last night on the north south divide, given by Andrew Wilson of Oxford Economics. It was a fascinating lecture and we discussed the net contribution of different regions in the UK. I was suprised to note 3 regions support the UK’s spending.

Burning with curiosity re the contribution of North Sea Oil to the Scottish economy, I asked the question where the oil revenues sat. Andrew laughed and said he would not expect this in terms a ‘divorce settlement’ but that oil revenues in the graph above had been entirely allocated to Scotland. Despite the oil revenues, Scotland relies on South East taxes.

To access a full copy of the report, click here and look for ‘Why Britain needs a fair deal for the South East’

Proud to work for a responsible employer

As part of a large organisation, we of course buy into to the whole corporate social responsibilty ethos.  It is easy to become cynical about these things as many large organisations often talk a good game but do not deliver.   At this time of year, we choose from a range of benefits as part of my flexible benefits choice.  It is good to see that I can now calculate my carbon foot print and pay into a Carbon off-setting scheme through my salary.  This is hot on the heels of an enhanced maternity package, which I think is one of the best in the marketplace.  Anyone want to work for a genuinely ethical and values led Big Four firm?

Work life balance

In the last couple of weeks, I have been really busy writing my first MBA essay.  However, as it is important to have sort of life, I persuaded Mr Tosh to go to the Tate Modern to see a hole in the floor.  The purpose behind the floor is interesting but I must admit I was very interesting in the fact that they have actually opened the real floor of the Turbine hall as opposed to a fake floor.  Also surprised to see that people had actually fallen - quite a feat.

While we were at the Tate, I also enjoyed the Louise Bourgeois exhibition.  Not too keen on the paintings but I loved her sculptures.  Some of the smaller pieces would be fantastic in Tosh Towers.  Well worth a visit.