ShareSoc Patron Lord Lee is continuing his high profile campaign to get more mainstream coverage of investments and better financial education. The FT has a large article about these issues written by John Lee himself, see https://www.ft.com/content/2445a940-da11-4d08-8e4c-e5ad70d6b583 headed-
Stock market investment needs more television promotion –
Onerous rules limit broadcasters and hamper financial education
There is widespread agreement that financial education in this country is lamentable. This manifests itself in so many ways, from the fact that many people just leave significant cash deposits in banks earning next to nothing, to the large numbers choosing Cash Isas. On top of this come, unfortunately, the very substantial number of young people attracted by risky “day trading” or the temptation of cryptocurrencies. I find it extraordinary that, at a time of near-zero interest rates, a company of the quality and strength of Legal & General — which is so sound that its shares are, to my mind, virtually equivalent to private sector gilts — offers a dividend yield as high as 6.5 per cent. Yet this financial services group is seemingly spurned by all those savers sitting on bank deposits. Yes, of course, schools must do more, but I have long believed that the total failure of television to focus programmes on stock market investment is a national tragedy…
…ShareSoc, the leading representative body of private shareholders, where I am patron, strongly supports this initiative. It is my contention that the whole relationship — or lack of it — between TV and our hugely important savings and investment industry needs to be totally rethought.
Lord Lee has also been in contact with the Minister again and this time has received a much better and more detailed response. John has followed up with another letter.