In 2017 low tax demands high social value

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The trend for low tax rates to stimulate corporate behaviour is likely to be accelerated in 2017. A US administration that wants to use low tax rates to “re-patriot” cash and investment will add fuel to the fire of global tax competition that will put the laudable BEPS initiatives into the shade. That does not mean that they are conflicting initiatives because the public voice can reconcile the two.
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Relationships of Value

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by Loughlin Hickey & Charles Wookey

Human Value cannot be subordinated to market value

When, as citizens, we make far-reaching decisions, it is all too familiar to see the headlines reporting how the markets have reacted. The risk is that we are being drawn to the markets and financial value to define what is good and bad for us as people. In short the benefit to us as people, the “human value”, is in danger of being subordinated to market value. We need to think carefully about the values system we choose to embrace.

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This piece was originally published in the Jericho Chambers Magazine ‘Revolutionary Times’. 

Executive pay through the lens of purpose

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Image result for 50 pound notes

Written by Charles Wookey

The banker J P Morgan, it is said, would never lend money to a business where the boss was paid more than 20 times the wages of the lowliest employee. Anything more, Morgan thought, showed that the boss was only in it for himself and the business was therefore a credit risk.

Now, a century after Morgan, executive pay is on a different scale  altogether. Last week the High Pay Centre reported that in 2015 the average FTSE 100 CEO was paid £5.5m – nearly 150 times the average employee wage.

This may seem normal for some leading executives as they benchmark against each other  – but there is increasing unease among  investors, employees, customers and society at large.  Resentment is spreading, and shareholder revolt is in the air.

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