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Opioids, depression and drug prices: 9 readers share the health crises on their minds

Opioids, depression and drug prices: 9 readers share the health crises on their minds

Washington Post27-05-2025

Lee Hockstader's May 22 online column, 'Europe has so far dodged a U.S.-style opioid epidemic. Here's why.,' attributed the lack of an opioid crisis in Europe to that continent's universal health-care systems and stronger social welfare safety net. If those were true protections, then Canada, which has both of those systems, would not have an opioid crisis. But, as has been documented in many readily available reports, including the Stanford-Lancet Commission on the North American Opioid Crisis, of which I was chair, the opioid crisis in Canada is one of the worst in the world.

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Reform declares war on all gold-plated public sector pensions
Reform declares war on all gold-plated public sector pensions

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Reform declares war on all gold-plated public sector pensions

A Reform UK government would radically overhaul gold-plated public sector pensions to stop them bankrupting Britain. Richard Tice told The Telegraph he would put everything on the table and end the taxpayer 'rip off' if his party won the next general election. Reform's deputy leader said the party would consider moving all public sector employees out of their 'Rolls-Royce' pension plans and into the defined contribution schemes almost all private sector workers have. Britain currently hands £54bn a year to public sector retirees and another £35bn in pension contributions to current state workers, with both groups entitled to guaranteed, inflation-linked payments for life. It comes after Reform pledged to axe defined benefit council pensions, which a recent Telegraph investigation revealed now costs some local authorities more than half of what they raise in council tax. Britain currently has more than three million public sector pensioners, the vast majority of whom are retired NHS workers, teachers, civil servants and members of the armed forces. Their schemes are all unfunded, meaning the contributions that come in from employers and employees are immediately used to pay current retirees, rather than being prudently invested to pay future pensions. However, contributions have fallen short of the amounts paid out, with taxpayers funding a £49bn shortfall over the past decade alone. Historically, they also haven't covered the cost of new pension rights built up by current workers. John Ralfe, a pensions consultant, calculated that the shortfall between contributions and future pensions was £208bn between 2013-23 – and it will be met by current and future taxpayers. The system, which would be illegal in the private sector, has built up pension liabilities running into the trillions. 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2 top FTSE 250 investment trusts to consider for a SIPP
2 top FTSE 250 investment trusts to consider for a SIPP

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2 top FTSE 250 investment trusts to consider for a SIPP

There are dozens of investment trusts across the FTSE 250, offering exposure to all sorts of sectors and geographies. Here are two that I think are worth considering for a SIPP. In this account, they would have time to compound and — ideally — generate solid long-term returns. First up is Baillie Gifford US Growth Trust (LSE: USA), which pretty much does what it says on the tin. However, what separates this from similar trusts is the ability to invest up to 50% of assets in private growth companies. Today, unlisted firms make up 37% of the portfolio. Admittedly, this adds extra risk because these can be harder to value. Also, by definition, they tend to be less mature enterprises, meaning there's greater risk of some going bust. However, the trust only needs to back a small handful of generational private companies to do well long term. One is SpaceX, the rocket and satellite internet pioneer that is today the largest holding. It's up tenfold in value since 2018! Beyond this, the trust is invested in loads of top-tier public companies that I expect to be larger in future. These range from internet payments firm Stripe to streaming juggernaut Netflix and language learning leader Duolingo. Other tech names include Amazon and Meta. Just as the US led the way during the rise of the internet, it is doing so again with generative AI. We think this new technology is consequential and will usher in a period of change on a scale that we haven't seen since the industrial revolution. The trust's shares are currently trading at an 8% discount to net asset value, which I think looks attractive. It continues to buy back shares in an attempt to control the discount. The second trust is another from Baillie Gifford, namely Pacific Horizon Investment Trust (LSE: PHI). The managers aim to invest in the top 20% of the fastest-growing companies in Asia. Now, words like 'Pacific' and 'Asia' might immediately ring alarm bells because of all the uncertainty around global trade. The trust has 31% invested in China, the world's second-largest economy, and another 9% in Vietnam. Both could be hit hard by US tariffs, assuming they stay punishingly high. That said, now is arguably a great time to consider investing for the long run. Asian companies and economies are still likely to become much more influential in future, despite President Trump's best efforts. Just look at China's BYD (not a holding), which is overtaking Tesla in selling EVs. Or Taiwan Semiconductor Manufacturing Company (TSMC), the world's leading maker of advanced chips. It is Pacific Horizon's largest holding. I doubt such firms' upwards trajectory will be permanently impaired by US tariffs. Combining Asia's favourable macroeconomic position with its structurally faster growth rates and valuations at multi-year lows relative to developed markets, Asia ex Japan appears to be in a sweet spot. Pacific Horizon also offers exposure to India (16.8%) and Korea (10.6%), as well as strategically important firms like Zijin Mining (one of China's largest producers of gold and copper). Again, the shares trade at a discount to NAV (9.2%). I think they're worth a look for a SIPP. The post 2 top FTSE 250 investment trusts to consider for a SIPP appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Ben McPoland has positions in Duolingo and Taiwan Semiconductor Manufacturing. The Motley Fool UK has recommended Amazon, Duolingo, Meta Platforms, Taiwan Semiconductor Manufacturing, and Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio

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