Latest news with #BrianLawless
The National
3 days ago
- Business
- The National
So, you've won capitalism: My open letter to the billionaires
I think we can all agree that you've won capitalism. If the goal of capitalism is to accumulate wealth via the canny deployment of capital (yours or someone else's) for the purpose of spending that wealth on goods and services to improve your own lifestyle, then you have been successful beyond measure. As a billionaire, you now possess more wealth than can be reasonably spent by any individual in a lifetime. In fact, you passed that measure a long, long time ago. In the UK, we can measure how much income is required for a household to enjoy the minimum basic level of a 'decent life'. The UK Minimum Income Standard is developed by asking people what such a life looks like. How much does it cost to buy enough food? What does a 'decent' household spend on energy? How many holidays should a person reasonably expect to be able to go on in a year? What kind of budget should someone have to spend on hobbies? Various other questions like that build up a picture of a minimally 'decent' life. Perhaps it will surprise you to learn that what the people of the UK consider to be a 'decent' life is both far less than you earn and far more than many households earn. For a household of two adults and two children, the UK Minimum Income Standard is approximately £71,000 per year (to be split amongst all income earners in the household). READ MORE: 'Not in our name': Hundreds gather in Scottish cities to protest Donald Trump For a single adult living alone, it's £28,000 per year. At the current UK minimum wage, a single person living alone but with a full-time job only earns around £25,000 in a year. That four-person household of two adults and two children would require 2.8 full-time minimum wage jobs to sustain a minimally decent life. For you, though, you could earn that lifestyle in the most trivial way possible. You don't even need to call up one of those very, very expensive accountants who spend a lot of your money finding ways to make the rest of it 'more tax efficient'. A 50-year UK Government Gilt right now yields about 4.9% interest. So to generate enough interest to pay for a decent lifestyle for your partner and your two children for very likely the rest of your life, you only need to buy £1.5 million worth of bonds. If you happen to be living alone, then the cost drops to £570,000. Is a passive income sufficient to provide a minimally decent life not enough? You could double it, treble it, multiply it by ten even. Your wealth far outstrips what humans can easily visualise. There's a joke: What's the difference between a billionaire and a millionaire? Answer: About a billion. Is that not enough? The Global Billionaire Set increased their collective wealth by something like $14 trillion between 2015 and 2025. Had that wealth instead been distributed evenly to every adult and child on Earth, each one of us could have instead been given a cheque this year for $1600. (Image: Brian Lawless/Nick Wass/AP/PA/PA Wire) And this wouldn't have even touched the $12 trillion you and your mates had before 2015. You could lose almost everything and still be richer than most folk will ever be. There's an odd thing that happens when we talk about trying to make poor people less poor. When we talk about policies like a Universal Basic Income, one of the objections that always seems to come up is that if poor people aren't threatened with destitution, if they're 'just given' enough money to survive on, then they'll all just stop working. But you know that's not true, don't you – because you didn't. When you won capitalism and accumulated enough to live comfortably on for the rest of eternity, you kept trying to accumulate more. Maybe you did it for bad reasons like sheer greed and maybe you did it for better reasons like the love and passion you have for whatever it is that you do. You can no longer even be considered a 'wealth creator'. Oxfam published a report this year called 'Takers, Not Makers' that examined the level of wealth extraction by billionaires around the world – particularly in the Global South, but also in countries like the UK. They showed that the UK's 57 billionaires increased their personal fortunes by almost £13 billion in 2024. The thing is, the entire UK economy only grew by about £7bn that year. This implies that the GDP only went up because the billionaire wealth pot went up by more than the rest of the UK economy went down. In other words, we all had a recession that the stats didn't show because you took all the cash. I think the solution should be acceptable in either case. Either you don't deserve your wealth or it's simply not what motivates you and you don't need it. So we can safely tax it from you. The UK has been talking a lot about wealth taxes lately. I joined that conversation recently too with my own plan to reform council tax to better tax your mansions, castles and to encourage you to divest from your rented property portfolios (what the rest of us call 'homes') as well as to tax land ownership in Scotland. Various proposals to better tax wealth via Capital Gains, taxes on financial transactions, or on pension funds will all play their role too and may be particularly suited to better taxing mere millionaires. But billionaires like yourself are in another league and require other solutions. Even income taxes of 90% or higher won't dent wealth piles that are tens of thousands of times deeper than the resources of an average person. So maybe we just need a rule where we cap the maximum wealth that a single person can command. Once you've won capitalism – we can set that level as high as a billion or perhaps somewhere lower than that – money and wealth are no longer yours alone. Everything you acquire above that gets placed into a publicly-owned trust – we could call it a Common Good Fund. This would ensure that any wealth you do create from now on does actually benefit all of us rather than not 'trickling down' as we're always promised it would. If we did this in the UK right now with all wealth above one billion we'd instantly have a fund worth more than £7000 per person in Britain. That's the real monetary cost of maintaining billionaires in the world. But ending extreme wealth inequality also shields us from the political and social costs too. The moment someone becomes wealthy enough to have more power than their single vote, they become a threat to the very concept of democracy. Do I expect you and your billionaire friends to agree to this? Probably not. I expect to see some dissent even from folk who are immeasurably closer to destitution than they are to joining you. But it's a proposal that can easily be reversed. If we try it and it doesn't work, we can all vote to give the Common Good Fund back to those who used to own it. A few thousand billionaires vs the rest of us. Let the votes land where they may. Yours, expectantly ... Andrew Tickell returns next week
Extra.ie
4 days ago
- Automotive
- Extra.ie
'It's not your story to tell' - Irish road victims group calls for end to crash scene videos
The Irish Road Victims Association has sent a very powerful message to the general public to stop the practice of filming accident sites and images of crashes. Taking to social media to issue their plea, the IRVA had very powerful words for people who continue to share crash scenes of accidents that happen on the country's roads. It's not your story to tell, its not 'content' and it's not 'entertainment'. The Irish Road Victims Association has sent a very powerful message to the general public to stop the practice of filming accident sites and images of crashes. Pic: Getty Images 'It may be someone's worst day, or someone's last day'. The IRVA says when you livestream or share photos from a crash, you are effectively stripping people of their dignity, risking families seeing the footage or images before they have been officially told of the accident, and you cause untold trauma to loved ones of the victims. The IRVA added 'If you wouldn't want your family to find out this way, don't do it to someone else's. Taking to social media to issue their plea, the IRVA had very powerful words for people who continue to share crash scenes of accidents that happen on the country's roads. Pic: Shutterstock Don't film, don't share, report the incident and step back. The organisation hopes this new campaign will make people think twice about using their mobile phones for anything other than calling the emergency services at the scene of an accident. Early in 2025, it was reported that the number of road deaths is down 4% over the last year. The IRVA says when you livestream or share photos from a crash, you are effectively stripping people of their dignity, risking families seeing the footage or images before they have been officially told of the accident, and you cause untold trauma to loved ones of the victims. Pic: Brian Lawless/PA Wire Figures indicate 174 people died in 160 collisions in 2024, down from 181 deaths in 170 collisions in 2023. It comes as the Government's Road Safety Strategy 2021-2030 aims to reduce deaths and serious injuries on our roads by 50% by 2030. The Government is also aiming to eliminate all road deaths and serious injuries in Ireland by the year 2050. The figures were published by the Road Safety Authority following an analysis from provisional fatal collision reports from An Garda Síochána. They reveal a high proportion of male fatalities and people aged 25 and under, as well as a high number of fatalities in the evening between 4pm and 8pm. Meanwhile, the highest number of deaths (23) was in Dublin, followed by Cork (19), Mayo (19) and Donegal (17). Sam Waide, chief executive of the RSA, said: 'Despite this profound loss, the reduction in the number of fatalities this year is a very modest but important step in reversing the high number of road deaths we've seen over the past two years,' he said. 'This progress underscores the urgency to intensify our efforts. To truly turn the tide, as part of the Government's Road Safety Strategy, we must harness more technology, deliver impactful awareness campaigns and continue road safety education, to create a safer future.'
Irish Times
4 days ago
- Politics
- Irish Times
Thousands fill Belfast streets for city's annual Pride parade
Thousands of people have filled the streets of Belfast for the city's annual Pride parade. Spectators lined the city's footpaths to cheer on the thousands who took part in the parade. Belfast Pride Festival is one of the biggest festivals in the city's calendar, with hundreds of events taking place. Organisers said it is the biggest cross-community parade in Belfast and is a protest and celebration of the lives of LGBT+ people. [ Don't expect votes for 16-year-olds to change the world. It's the 25-35s who are the rebels Opens in new window ] The theme for this year's event is 'no going back', as organisers said there must be 'no turning back from the advances made in visibility, legal protections and societal recognition'. Throughout the city, many people had rainbows painted on their faces, while others waved LGBT+ flags and held placards with equality messages written on them. People take part in the Belfast Pride Parade, in the city centre. The parade started in 1991 and over the last 30 years has grown to be the largest single parade in Northern Ireland. Photograph: Brian Lawless/PA Wire A series of groups and floats, representing up to 250 charities and organisations, took off from Custom House Square at 1pm. It made its way north of the city before making its way down Donegall Place and past City Hall before finishing at Victoria Street. Friends, work colleagues and many young families, including pet dogs, were among those in the crowd. People take part in the Belfast Pride Parade, in the city centre. The parade started in 1991 and over the last 30 years has grown to be the largest single parade in Northern Ireland. Photograph: Brian Lawless/PA Wire Belfast Pride organisers took the decision to ask political parties to not attend the parade in an official capacity, after Stormont backed a ban on puberty blockers. The parade started in 1991 and over the last 30 years has grown to be the largest single parade in Northern Ireland. Ahead of the parade taking place, First Minister Michelle O'Neill tweeted: 'Happy Belfast Pride to everyone celebrating today, I hope it's filled with joy and love for you all. People take part in the Belfast Pride Parade, in the city centre. The parade started in 1991 and over the last 30 years has grown to be the largest single parade in Northern Ireland. Photograph: Brian Lawless/PA Wire 'Your courage over many years has helped transform our society for the better. 'As your First Minister, I'm committed to building a future where everyone in our LGBTQIA+ community is seen, valued, and treated equally. Be proud. Be you. Today and every day. 'Have a wonderful day.' - PA
Glasgow Times
6 days ago
- Sport
- Glasgow Times
North Coast takes Tyros triumph in style
Joseph O'Brien's charge had been beaten just under three lengths by Flushing Meadows on his debut at the Curragh in June before winning next time out and chasing home Daytona in Listed prize on his latest start. He was sent off a 3-1 chance against the Aidan O'Brien-trained 30-100 market leader Flushing Meadows, who was only just beaten in Group Three company on his most recent start,. Under a positive ride from Dylan Browne McMonagle, North Coast more than had the measure of the favourite, coming home a six-length winner, although Ryan Moore did ease his mount a little in the closing stages. Paddy Power put North Coast in as a 25-1 chance for next year's 2000 Guineas and Derby, with a Group One date likely to be next on the agenda. Dylan Browne McMonagle and trainer Joseph O'Brien (Brian Lawless/PA) 'That's probably a good trip for him, a stiff seven furlongs,' said the winning trainer. 'He ran great in Naas and you'd have to be impressed with what he did today. 'I backed him up a bit quick coming here, so we'll probably go straight to the National Stakes now rather than going for the Futurity on the way. That would be my immediate thought. 'He's a smart colt and has an exciting future. 'I was very impressed with his last half-furlong. It looked like it was going to be an eyeballing match down to the line but he really pulled away again.' Composing impressed in victory (Brian Lawless/PA) Composing made virtually all the running to register a comfortable success in the Saudi Cup Silver Flash Stakes. Fifth on debut at the Curragh in May, she broke her maiden back at that track last month, prompting Aidan O'Brien to raise her sights to Group Three level here. Moore was eager to get to the front and allowed to stride on, he dictated the pace aboard the 4-9 favourite and Composing never looked like being caught, eventually pulling three and a quarter lengths clear of the staying-on Skydance. The Wootton Bassett filly was cut to 16-1 from 25s by Paddy Power for both the 1000 Guineas and Oaks next year, with O'Brien rating her a potential Group One challenger later in the campaign. Composing with jockey Ryan Moore in the winner's enclosure (Brian Lawless/PA) 'We're delighted with her, she's a lovely, straightforward filly,' said O'Brien, who was winning the race for the fourth successive season. 'She won lovely the last day and Ryan loved her. She was very professional. 'She'll go for the Debutante Stakes at the Curragh next and could be a filly for the Moyglare.'
South Wales Argus
6 days ago
- Sport
- South Wales Argus
North Coast takes Tyros triumph in style
Joseph O'Brien's charge had been beaten just under three lengths by Flushing Meadows on his debut at the Curragh in June before winning next time out and chasing home Daytona in Listed prize on his latest start. He was sent off a 3-1 chance against the Aidan O'Brien-trained 30-100 market leader Flushing Meadows, who was only just beaten in Group Three company on his most recent start,. Under a positive ride from Dylan Browne McMonagle, North Coast more than had the measure of the favourite, coming home a six-length winner, although Ryan Moore did ease his mount a little in the closing stages. Paddy Power put North Coast in as a 25-1 chance for next year's 2000 Guineas and Derby, with a Group One date likely to be next on the agenda. Dylan Browne McMonagle and trainer Joseph O'Brien (Brian Lawless/PA) 'That's probably a good trip for him, a stiff seven furlongs,' said the winning trainer. 'He ran great in Naas and you'd have to be impressed with what he did today. 'I backed him up a bit quick coming here, so we'll probably go straight to the National Stakes now rather than going for the Futurity on the way. That would be my immediate thought. 'He's a smart colt and has an exciting future. 'I was very impressed with his last half-furlong. It looked like it was going to be an eyeballing match down to the line but he really pulled away again.' Composing impressed in victory (Brian Lawless/PA) Composing made virtually all the running to register a comfortable success in the Saudi Cup Silver Flash Stakes. Fifth on debut at the Curragh in May, she broke her maiden back at that track last month, prompting Aidan O'Brien to raise her sights to Group Three level here. Moore was eager to get to the front and allowed to stride on, he dictated the pace aboard the 4-9 favourite and Composing never looked like being caught, eventually pulling three and a quarter lengths clear of the staying-on Skydance. The Wootton Bassett filly was cut to 16-1 from 25s by Paddy Power for both the 1000 Guineas and Oaks next year, with O'Brien rating her a potential Group One challenger later in the campaign. Composing with jockey Ryan Moore in the winner's enclosure (Brian Lawless/PA) 'We're delighted with her, she's a lovely, straightforward filly,' said O'Brien, who was winning the race for the fourth successive season. 'She won lovely the last day and Ryan loved her. She was very professional. 'She'll go for the Debutante Stakes at the Curragh next and could be a filly for the Moyglare.'
