UK economic outlook
PwC have just issued their new economic outlook report – not a fun read but essential for anyone working on/reviewing financial projections (and yes, this is one of Susan’s)
Depending on the scenario, we expect UK GDP growth to average between 2.8% – 3.8% this year, compared to a previous consensus GDP growth of 4.5%. The main driver of our revision is slower household consumption which is, in turn, driven by higher commodity prices. Real earnings are already contracting in the UK and are expected to continue to do so until at least the end of this year, with lower income households being disproportionately impacted.
How to Survive a Recession and Thrive Afterward
Lots of debate about when but there does seem to be agreement that a recession is on its way. This article is very corporate focused but there are some good points gleaned from the research – the key one being preparation.
The difference maker was preparation. Among the companies that stagnated in the aftermath of the Great Recession, “few made contingency plans or thought through alternative scenarios,” according to the Bain report.
New rules for charity investments
The law on how trustees can invest their charity’s assets has been clarified following the decision in major case with new guidance on how trustees can consider non-financial factors as well as likely financial return. This is not just for those charities with investment portfolios or properties but applies to any charity which has interest earning deposits.
In the case, the trustees of the Ashden Trust and Mark Leonard Trust were authorised by the court to prioritise climate change mitigation over financial returns when investing. … the principles in the case are of wide application and reframe the duties of charity trustees in a way that shifts the traditionally exclusive focus on financial risk and return to a broader range of relevant considerations, such as potential conflicts with charitable purposes, reputational and relational risks and relevant positive and negative impacts.
Bates Wells have put together a good summary and are running a webinar later this month.
Learn, Unlearn & Relearn: What Got You Here Won’t Get You There
If you can ignore the ads there’s some useful insights here.
The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn. Alvin Toffler
Ai Weiwei: The Liberty of Doubt
If you are near Cambridge before mid-June this exhibition at Kettles Yard this exhibition will give you lots to think about.
20/20 Call for artists
20/20 is a national programme led by UAL Decolonising Arts Institute. A great Open Call. If it’s not for you please pass it on to your artist friends. The deadline for this round is 12pm, 6th June.
Between now and 2024, we’re looking for 20 emerging artists of colour to take on 15-month paid virtual residencies at these museums, galleries and art collection partners. Each artist will produce a commissioned artwork that will become a permanent piece in their collection.