The Times has a couple of sad pieces on Venice.
Kneeling, he touches the foundation of one of the marble columns holding up St Mark’s Basilica, which symbolised Venetian power for a millennium. Fragments come away in his fingers.
“Water now enters the church 200 times a year,” said Mr Tesserin, administrator of the 11th century Italo-Byzantine masterpiece overlooking St Mark’s Square. “The marble is literally crumbling thanks to the corrosive salt.”
FlexJobs has surveyed 1,000 (US) freelancers and found, yet again, that these are not desperate and abused individuals forced into abusive contracts by uncaring, capitalist overlords.
In fact, as TechRepublic summarises:
the average full-time freelance worker is a female Gen Xer working in the writing, marketing, editing, or creative career fields. This person works primarily for small companies and individuals, and juggles two to three jobs at a time, the report found. The average worker freelances by choice, and has been doing so for at least three years, and envisions continuing this type of career for the long-term, though they have worked at traditional companies in the past.
Continue reading “What does a freelancer look like? Survey from @FlexJobs”
A recession, or at least a significant downturn, is inevitable. No-one knows when or what the cause will be, but recessions are a part of the economic cycle. Will you be ready?
It comes with the deal. If you are a sovereign professional, your sovereignty requires that you make provision for whatever fate my fling at you. That can be tough to hear if you haven’t even got the hang of saving cash for your tax bill.
Continue reading “Freelancer? Are you ready for the coming storm?”
Levies for allegedly unpaid taxes, no supporting calculations and no right of appeal. The House of Lords finds that HMRC has been acting aggressively and disproportionately to freelancers it suspects of having avoided tax.
From David Byers in The Times:
The economic affairs committee in the House of Lords this week said that HM Revenue & Customs (HMRC) was overusing “disproportionate” powers that allow it to demand swift payments of unpaid tax from those it suspects of tax avoidance. Those suspected have no right to appeal to a tribunal.
Members said that accelerated payment notices (APNs) and follower notices were being aimed unfairly at lower and middle-income freelancers such as IT workers and NHS nurses, rather than the promoters of tax avoidance schemes.
Lord Forsyth of Drumlean, chairman of the committee, said the balance of power had “tipped too far in favour of HMRC and against the fundamental protections every taxpayer should expect”.
Two pieces in The Times, here and here.
The report from the House of Lords committee, here.
This looks interesting and useful.
The Gig Economy Data Hub aims to provide comprehensive information on all aspects of the gig economy.
The home page gets off to a great start:
A freelance graphic designer earns $25,000 for an ad campaign. A teacher drives for Uber on the weekends. An electrician owns and operates a successful small business. A stay-at-home mom sells Mary Kay cosmetics on Facebook. A recent immigrant cleans houses under the table. A retired woman knits hats to sell at craft fairs. What do these workers have in common?
There is more to what is currently called the gig economy than flavour-of-the-month media stories suggest.
The Data Hub is a collaboration between the Aspen Institute’s Future of Work Initiative and Cornell University’s ILR School. The data appears to be all US-focused, but the lessons and many of the findings will doubtless translate at least to the UK and possibly beyond.
Photo by Lucian Novosel on Unsplash
From last week’s Economist, a thoughtful piece on the state of the Conservative party:
If it can keep its head, though, and bring off a Brexit that does not plunge the country into chaos or paupery, then its long habit of exercising power, its ruthlessness with its leaders and its ability to mix firmness with flexibility—qualities which have made the Conservative Party the democratic world’s most successful political machine—may yet see it through. And the intellectual skills of a rising generation—not something it has always been able to count on—may, if exercised to the full, allow not mere survival, but success.
Image: Getty Images
Last week’s Economist, on its 175th anniversary, has a ten-page essay on Reinventing Liberalism for the 21st Century.
If, like me, you’ve sometimes struggled to join the dots between the classical liberalism of, say, John Stuart Mill and the snowflakey, leftish liberalism that seems to be growing in US, and now UK, universities, this is an essential read. It offers a history and diagnosis of what is wrong with liberalism today, the challenges that need to be addressed – immigration and refugees; the social contract; China, Trump and right wing populism in Europe – and a call to arms for radical, liberal changes.
Set your Sunday aside and read the full essay, here.
Image: The Economist
Here’s the magic formula:
The basic mathematics of Fire are that you need a net worth of 25 times your annual spending, invested sensibly in the stock market in low-cost tracker funds or in buy-to-let property.
This is all based on an assumed safe withdrawal rate from your fund of 4 per cent each year so that you don’t run out of money. For someone happy to live on £25,000 a year in mortgage-free retirement, that means accruing a pot of £625,000. If you want to spend £50,000 a year, you need £1,250,000.
“If you can save 50 per cent of your take-home pay, it will take 19 years to go from broke to never needing to work again. If you can save 75 per cent, it will take seven to eight years.”
Patrick Hoskings, Financial Editor at The Times, writes a rational and thoughtful column on the realities of British retail (free registration required, I think).
The unpalatable truth is that online retailers by and large are winning not because of their tax advantage but because they are producing a better service compared with many traditional shops. Technology has transformed the business of remote shopping. Buyers can glean far more product information and advice with a few clicks of the mouse or swipes of the phone than they ever garner from an assistant in a physical shop.
For some merchandise, the shop is fast becoming an absurd anachronism. The very idea that a business would still assemble a narrow range of products in a not very accessible room miles from the ultimate buyer’s home and put an under-trained and under-informed youngster in charge seems as quaint as a cash register with a bell that goes kerching.
Accompanying the ongoing Death of the High Street is a chorus of wailing for a level playing field. But, whenever people call for “fairness”, we need to check our objectivity.
In truth, we all vote with our wallets.
Photo by Alexandra Kirr on Unsplash … which I recognise as Daunt Books in Marylebone, London.
Three exiles from Vienna and their responses to totalitarianism.
Today the Austrians are as relevant as ever. Autocracy is hardening in China. Democracy is in retreat in Turkey, the Philippines and elsewhere. Populists stalk the Americas and Europe: in Vienna a party with fascist roots is in the ruling coalition. All three would have been perturbed by the decay of the public sphere in the West. Instead of a contest of ideas, there is the tribal outrage of social media, leftwing zealotry on America’s campuses and fearmongering and misinformation on the right.
Of no direct relevance, Vienna was recently ranked as the world’s most liveable city. It is certainly, beautiful, elegant and civilised.
And, of course it was the inspiration for a great song…
Image: National Portrait Gallery