Investment for the people
Reasons Revisited
Geoff Lloyd
4.8 • 2.6K Ratings
🗓️ 9 October 2022
⏱️ 59 minutes
🧾️ Download transcript
Summary
Following Labour’s announcement of a new national wealth fund to invest in green industries, we’re exploring what 'public wealth funds' are and how they offer a way to keep profits in the hands of the people.
We talk to Professor Karin Thorburn about Norway’s Sovereign Wealth Fund which has guaranteed that future generations can benefit from its natural resources, even as we transition towards a greener economy. UCL Associate Professor Josh Ryan-Collins makes the wider case for public wealth funds, and how they help governments invest for the future and make sure that returns go back to citizens. Finally, Rayhan Haque from the Community Wealth Fund Alliance tells us how the 40p in your old building society account could be invested in communities for big economic, social and environmental returns.
Plus: Ed is ready to jump into ribbon-cutting action as Britain’s oldest lido is opening to the public! We speak to the team behind the restoration and re-opening of Cleveland Pools, Bath.
Keep submitting your theme music to reasons@cheerfulpodcast.com
More info
Norway’s Sovereign Wealth Fund
UCL IIPP Report on Public Wealth Funds
Learn more about the Community Wealth Fund
Local Trust as a founding member of the Community Wealth Fund Alliance
Read about the Dormant Assets Scheme
Stay up to date with news on Cleveland Pools’ reopening on their website or sign up to their newsletter
Guests
Karin Thorburn, Professor of Finance, Norwegian School of Economics (@karinsthorburn) (@NHHnor)
Josh Ryan-Collins, Associate Professor in Economics and Finance, UCL Institute for Innovation and Public Purpose (@jryancollins) (@IIPP_UCL)
Rayhan Haque, Campaigns Manager, Community Wealth Fund Alliance (@RayhanHaqueUK) (@CommWealthFund)
Alice Le Page, Learning and Community Engagement Trustee, Cleveland Pools (@aslepage) (@Clevelandpools)
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Transcript
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| 0:00.0 | Our sponsor for this episode is Big Issue, changing lives through enterprise. |
| 0:04.7 | And you can support that by subscribing. |
| 0:06.8 | You don't need me to explain that the cost of living crisis is impact in the poorest people |
| 0:11.4 | the most. |
| 0:12.4 | And that means it's tough for Big Issue vendors. |
| 0:14.6 | They are in the living from selling the magazine, and they're heading into winter facing |
| 0:19.6 | uncertainty about that living. |
| 0:22.4 | When you're unable to visit a local vendor, the next best thing is to take a subscription. |
| 0:28.7 | When you do that, you're supporting Big Issues frontline teams. |
| 0:32.8 | These are the people working with vendors one-on-one, providing critical, emotional and social |
| 0:38.6 | support and empowering them to achieve financial stability and overcome personal disadvantage. |
| 0:45.0 | Big Issue have an introductory subscription offer for you. |
| 0:49.4 | £6 for your first month. |
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| 0:54.3 | It's home to leading voices in politics, culture and social activism. |
| 0:59.5 | It is sometimes easy to forget how good the magazine is in its own right. |
| 1:05.2 | Now renewals are at the rate of £12 a month, and once again, all the profits from subscriptions |
| 1:11.5 | are invested into the vital work that frontline teams do to support Big Issue vendors. |
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| 1:26.7 | Visit bigissue.com forward slash cheerful. |
| 1:33.8 | This episode is sponsored by the Perception Census, a new groundbreaking study exploring |
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