Festive fears, fights and (forced) fun
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Greater Manchester car dealership named finalist and Autotrader Retailer Awards 2025 Northern businesses benefit from £180m+ Northern Powerhouse investment Zen Internet celebrates 30 years: longest-standing ISP in the UK
Why the UK should look beyond growth to a 'new economics' that works for all Bad wealth made good: how to tackle the UK's low growth and rising inequality If the AI bubble bursts, taxpayers could end up with the bill Revenge quitting: is it ever a good idea to leave your job in anger?
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Age Concern Hampshire extends partnership with SNG to combat social isolation Performing arts founder wins gold at Best Businesswomen Awards City Unscripted ranked UK's fifth-fastest growing tech company by Deloitte Specialist consultancy Wellington HR becomes employee-owned Shoreham Port wins diversity and inclusion awards Rhotic Media triple finalist and publishing awards
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Words: Advance Copy
It’s strange how the festive period can be the best time of year, the worst, or both at the same time. Most of us understand how the period can affect the people we care about in different ways, being sympathetic to those who find it challenging and considerate to those who don’t celebrate at all. Yet when it comes to the other people we spend our lives with – people at work – there seems to be a lot less patience with how they want to share Christmas. Or don’t want to share it, as the case may be. So, what’s going on here? Environment If your website or brand values say something like, “Our company is a happy family,” it’s probably worth asking, is it really? Because while the sentiment is nice in theory (it’d be utopia if every colleague was friendly, collaborative and supportive), current and future employees can see it as a “red flag phrase.” For example, it might hide a company’s true toxic environment or advertise it as somewhere that blurs the separation between work and home life. Now, lots of organisations simply say the “happy family” line as an innocent cliché, just like how they say “people are at the heart of everything we do” (of course they are, as they should be – and customers, too). But the reality is that working life isn’t always happy for staff. Think about it. Basically, recruitment means bringing together people from different demographics who’ve never met each other before, who probably have very little in common, but have been deemed a good fit based on a few short interactions, accreditations and recommendations. And when you cram together such varied personalities? Well, you might hit the jackpot and it’s all smooth sailing until retirement. Lucky you. But that’s clearly never going to happen. Instead, at some point, you get clashes, which result in the standard HR stresses of grievances, complaints, cliques, rivalries and more. It’s hard to be a happy family with those you’d never normally interact with other than by chance. But when Christmas rolls around, there’s a heightened expectation for staff to play happy families. And one of the most contentious points is at the work’s do. Pressure It’s the annual event that rewards your team for all their hard work and a chance to let their hair down. Sounds like something everyone would jump at, no? Well, no. Like it or not, some people would much prefer not to spend any more (unpaid) time (and their hard-earned money) with people from work. This is where some organisations put unfair pressure on staff to attend, which in turn nurtures a toxic environment – one far from that of a “happy family.” But in such instances, maybe employers should remember how they’d treat someone in their own actual happy family if they didn’t want to do something. There’d be no problem with it. And there are other reasons why people might not want to go. Cheers Alcohol still plays a massive part in many people’s celebrations. Yes, Christmas dos are an opportunity to relax, but the sensible move is to keep a lid on consumption. After all, it’s still classed as work. But there are people who drink, and there are people who drink. (And despite what you may believe, it’s not uncommon for people to take part in other extracurricular activities – right under your nose, so to speak.) And when people become intoxicated, they can become very different people, as we’ll see shortly. Some people want no part of that, and that’s fair enough. Each to their own. But plenty of people do enjoy drinking, so while you might do all you can to limit liability and reduce risk at an event serving alcohol, you can’t prevent everything. Violence Take Thomas Collins, for example. At his work Christmas party in 2023, he got into an argument over a drinks order with another man. Moments later, Collins punched the man in the back of the head, sending him down a flight of stairs. The victim fractured his spine and experienced a brain bleed before falling into a coma. Today, the man can’t see or walk properly and can never work again. Collins was sentenced to 45 months behind bars for the brutal attack. All over a drinks order. And yes, at a work-sanctioned event. Now, this is an extreme incident, but it’s not a rarity. And even those who police such actions are not immune, with five detectives from the London Met recently arrested for allegedly trying to cover up a policewoman’s sexual assault complaint against a senior officer, which she said happened at their Christmas party. And in 2024, one of Buckingham Palace’s maids was arrested in a bar after a drinks reception at the royal residence. A witness said: “The group walked in, and this one girl just got hysterical. She started smashing glasses and abusing staff [...] I've never seen one person get that crazy during a night out. She was on another level." The list of stories goes on. And no doubt after this Christmas, that list will be even longer. Let’s hope it’s not your organisation that hits the headlines. There’s another reason why Christmas dos are divisive. It doesn’t include aggression or violence (let’s set aside drunken affairs and liaisons for the purposes of this article), but it’s still traumatic in its own way. Forced While he didn’t invent it, Karl Pilkington of An Idiot Abroad and The Ricky Gervais Show popularised the term “forced fun.” It’s a tricky concept, because the best business owners and employers genuinely want to cultivate a good working culture in their teams. But it’s one thing for “fun” to happen naturally – or, at least, appear to be natural – it’s another to impose it on your staff. Christmas activities like parties and Secret Santas risk falling under the “forced fun” category. Some people are just not wired to take part, but doing so risks a kind of social ostracism, perhaps verbal pressure or name-calling, like “grinch.” And while that might seem playful and harmless, it can escalate. A few years ago, a French consultant was fired for avoiding his company’s so-called mandatory social events, which involved “excessive alcoholism” at weekends and “promiscuity, bullying and incitement to various excesses.” Fortunately for him, a court ruling backed his right to say “Non” to forced fun. It’s a reminder to respect and accommodate people’s different preferences. And while not every employee has the time, money or will to take you to court, you never know. Generosity There’s a famous phrase that most likely originated in the 15th Century: “You can’t please all the people all the time.” But there’s at least one thing in the world that can challenge that idea. Free money. By far the most in-demand festive benefit – way above parties, Secret Santas, office buffets, gatherings and other potential “forced fun” events – is the Christmas bonus. A recent report by the job aggregator, CareerWallet, revealed that a staggering 94% of those surveyed would rather their companies use their staff budget for bonuses rather than a Christmas party. The same report said that 10% see a party as one of the worst parts of their job, and that almost a quarter (23%) said their colleagues are what they loathe the most. Combine that with the soaring inflation and stagnant wages of recent years, it’s no wonder that people would rather have money they can use as they like as the reward for their hard work throughout the year. It’s freedom to fund their festivities however they feel best. One of the more curious aspects of the report is that despite so many people preferring a bonus, 6% didn’t want one. A likely reason may be those are the people at the top who are doing quite well financially. Plus, a Christmas party is a business expense, which is much more cost effective than giving out cash. Profits before people, perhaps? That’s certainly one way to build a “happy family.” But to show staff that you really care, boost morale and become like a family, the answer just might be to show the season’s true spirit of generosity, and give the people what they want. And according to staff in multiple surveys, a party doesn’t top the list. Because choosing that over a bonus? That would be like turkeys voting for Christmas.
Trust, torture and extortion: the perils of corporate blackmail Words: Craig Sergeant ofAdvance Copy
By Advance Copy
Warwick Hall Cars is delighted to have been recognised at the Autotrader Retailer Awards 2025, which celebrates the 'best of the best' in automotive retailing. With fewer than 1% of Autotrader’s approximately 14,000 retailer partners officially recognised for their retailing excellence, Warwick Hall Cars is pleased to be affiliated with one of the industry’s most exclusive clubs. Joining over 100 of the UK’s top automotive retailers at 122 Leadenhall Street - Central London’s iconic 225-metre-tall Leadenhall Building skyscraper, also known as the Leadenhall Tower or informally “the Cheesegrater” - Warwick Hall Cars were pleased to be selected finalists in the ‘Customer Choice’ award, recognising their entire sales team’s focus and commitment to delivering an exceptional customer service. Sales Director Joseph Kwan commented, “We are particularly pleased to be recognised by the UK’s largest automotive platform, Autotrader, as a result of direct feedback from our customers. We always strive to provide only the very best service to our customers, from best-of-class vehicle selection and preparation, to fair pricing, flexible finance options, nationwide delivery, comprehensive warranties and our famous after-sales service.” The Customer Choice Award, which is based on an in-depth analysis of customer reviews, with winners being determined by the number of reviews praising a retailer for its customer service and car buying experience, as well the quality of its responses to reviews, and overall review score is perhaps the most prestigious of its kind in the country. Showroom Manager Charles Holding added, “Our customers have always been loyal, repaying our attention to exceptional customer service by returning to replace their own vehicles over the years and recommending us to their family and friends, so it is nice to have our brilliant sales team’s hard work recognised on the national stage.” Warwick Hall Cars enjoys hundreds of positive reviews from its customers, including from Jamie F who said in his 5-star review, “Experience is definitely a 5 and beyond. Really great experience very smooth and my car came in immaculate condition. Very refreshing to deal with an honest and genuine company. Would recommend to anybody.” Independent review aggregator, Car Dealer Reviews currently ranks Warwick Hall Cars as #1 of 14 dealerships in Hyde, and #11 of 9,936 dealerships in the UK, based on their 4.8 out of 5 score from 1,002 genuine customer reviews. Warwick Hall Cars always has a wide range of vehicles available to view 7 days a week in their indoor showroom. Current stock can be viewed at warwickhallcars.com, where customers can also quickly and easily apply for car finance, read customer testimonials, and find details of their part exchange, nationwide delivery, and warranty offers.
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The Northern Powerhouse Investment Fund II (NPIF II) has directly invested £115m into over 300 small businesses across the North of England alongside an additional £68m of private sector co-investment, taking its total delivery to more than £180m. Since its launch, NPIF II has now completed over 315 deals to date. Delivered by the NPIF II fund managers, the investments have assisted in driving sustainable economic growth by supporting innovation and local opportunities for new and growing businesses across the North. The Fund has supported a diverse range of business sectors, including advanced manufacturing, digital and technology businesses and the creative industries that align with the Government’s eight priority key sectors. Operated by the British Business Bank, NPIF II is a £660m fund that provides loans and equity finance options for Northern smaller businesses that might otherwise not receive investment. The purpose of NPIF II is to break down barriers in access to finance by providing loans from £25k to £2m and equity investment up to £5m to start up, scale up, and stay ahead. Since its launch, NPIF II has completed deals with some of the region’s most exciting founders, helping businesses access the finance they need to unlock growth and new opportunities. In the North West, investment from NPIF II – River Capital & GC Business Finance Smaller Loans enabled the director and founder of Moxie Financials, Sian How, to expand its team with essential working capital. The accountancy and tax specialist firm based in Preston will create four new roles, which will help Sian free up time to focus on business development and client acquisition. Moving beyond the start-up phase, Moxie Financials is looking to target the legal sector, and will use the funding to help boost its marketing capabilities. In Sheffield, leading independent bridge engineering specialist EKSPAN secured £1.4m in debt funding from NPIF II – Mercia Debt Finance to support its further growth. The company was established over 30 years ago, but for much of that time operated as part of larger corporates, most recently the USL Group. It has helped deliver some of the UK’s most high-profile bridge infrastructure projects and with the funding, has helped expand its capabilities even further with the aim to increase turnover by 50 per cent in the next three years.In the North East, Magnitude Biosciences, a specialist contract research organisation offering in vivo discovery treatments for age-related conditions and other diseases, was also one of the many businesses to secure investment. Based in County Durham, and led by Dr Fozia Saleem, it received £700,000 in a funding round led by NPIF II – Maven Equity Finance to scale up its high-throughput screening platform, which will be able to screen thousands of compounds a week. The business is on the forefront of drug discovery and, based in NETPark, is a key player in the North East’s growing hub for digital and life science innovation. Adam Kelly, co-managing director of Funds at the British Business Bank, said: “The Northern Powerhouse Investment Fund II plays a vital role in increasing the supply of funding available to small businesses in the North of England. Whether it’s deep in the Northumberland countryside, or the heart of a vibrant city like Leeds, NPIF II is delivering early-stage finance to businesses operating across a host of sectors. With over £180m directly invested so far, over 300 businesses will be feeling the direct benefits of what access to finance can help achieve. This milestone is a sign of more to come and there’s no doubt we expect a greater number of entrepreneurs to get engaged and access the funds they need to take their business to the next level.” The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
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Northern businesses benefit from over £180m of investment since the launch of the Northern Powerhouse Investment Fund II
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The UK budget is usually a story of growth forecasts, borrowing levels and fiscal discipline. But ahead of this month’s high-stakes event, growth has been slower than expected. At the same time, as households struggle with living costs, the climate crisis intensifies and inequality persists, growth might seem like too narrow a focus. Conventional economics – with its reliance on GDP growth – cannot respond to the global “polycrisis”. This is the overlap between climate change, biodiversity loss, energy and food insecurity and extreme inequality – all amplified by geopolitical instability. Recent research my colleagues and I conducted shows that a “new economics” is needed in the face of these challenges. Drawing on hundreds of sources across 38 schools of thought, we distilled ten principles focused on wellbeing, justice and ecological resilience that could offer a way to rethink national economic strategies. New economic principles are not a luxury that we can ignore at times of fiscal constraint. They are a necessity because orthodox economic thinking has been a key reason for the polycrisis. Mainstream economics thinks of individuals as selfish “rational maximisers.” That is to say, their decisions are about creating optimal outcomes for themselves. It also assumes that markets allocate resources efficiently, and that GDP growth is the surest path to progress. But these assumptions look increasingly out of step with reality. Growth has often come with rising inequality, precarious work and environmental degradation, and is increasingly difficult to attain. The COVID pandemic showed that global supply chains are optimised for efficiency but not resilience. The war in Ukraine highlighted the risks of dependence on fossil fuels and authoritarian regimes. Meanwhile, the ecological and climate crises show that endless GDP growth on a finite planet is a dangerous illusion. What is required now is a transformation of the values and institutions that underpin economic life. Transformation becomes more plausible in moments of crisis. These expose the weaknesses of existing systems and open up political space for alternatives. Governments can act quickly – as the UK did with furlough and other COVID interventions. Ten principles for a ‘new economics’ The “new economics” movement is a collection of many approaches. This diversity is a strength, but also a challenge. The core narrative of traditional economics around free markets and growth has been repeated so many times that it may seem like there is no alternative. But our research identifies ten cross-cutting principles that give the new economics movement coherence. Wellbeing for people and planet: economies exist within societies and ecosystems, and their purpose should be to support both human and planetary wellbeing Recognising complexity: no single discipline has all the answers. Economics must integrate insights from ecology, sociology, philosophy, indigenous knowledge and other fields Limits to growth: we cannot assume endless economic expansion on a planet with finite resources Nature is irreplaceable: “natural capital” (for example, soil, forests and water) cannot simply be swapped for human-made substitutes Design focused on regeneration: economic systems should be circular and restorative rather than continuing to extract resources from the planet Holistic views of people and values: people are not just self-interested consumers; perspectives should be based on human dignity and enhance people’s opportunities to achieve the lives they value Equity and justice: reducing inequality must be a central economic goal, not an afterthought Relationality: economies should nurture trust, reciprocity and community, rather than erode it Participation and cooperation: businesses and policymakers should involve citizens directly, through discussion and collaboration Post-capitalism and decolonisation: be open to models beyond the dominant approach focused on the endless accumulation of wealth. Few approaches embody all ten principles, but each offers part of the picture. For example, ecological economics stresses environmental limits, while feminist economics centres on justice and care. So what does this look like? Crucially, this is not just academic debate. The UK has already experimented with elements of new economics, for example, through the Welsh Wellbeing of Future Generations Act. The act is an example of embedding new economic thinking into law, though there are challenges in enforcing it. Welsh public bodies must work towards seven wellbeing goals, including prosperity, resilience, equality and global responsibility. This shifts policymaking from short-term growth to longer-term wellbeing. And cities like Amsterdam have adopted so-called “doughnut economics” to guide planning. The city set targets for meeting residents’ needs (the inner ring of the “doughnut”) while staying within planetary boundaries (the outer ring). Initiatives include sustainable construction standards, reducing food waste and promoting inclusive housing. Similar experiments are gathering momentum. The Wellbeing Economy Governments initiative connects countries pursuing post-growth strategies. Costa Rica’s ecosystem-based development, Bhutan’s “gross national happiness” measure, and New Zealand’s living standards framework are all innovative approaches that look beyond GDP growth. By drawing on the ten principles in the budget and beyond, UK chancellor Rachel Reeves could build on these experiments. This would mean embedding wellbeing, justice and sustainability into her economic strategy. Ultimately, applying these principles could mean that infrastructure spending could be guided by the limits of the planet. And other investments could support nature recovery, community food systems and the circular economy. Wellbeing and environmental indicators could be a central part of future budgets. And citizen assemblies could give people a voice in the economic decisions that affect them. These changes would not discard fiscal responsibility. But they would broaden its meaning, making it about sustainability and fairness as well as balance sheets. Economics is not a neutral science but a set of choices about the future we make possible. Governments could continue with a model that prioritises growth at all costs, leaving people vulnerable to crises and inequality. Or they could be guided by principles that put wellbeing, fairness and ecological resilience at the core. In the run up to the budget, we should be asking not just how fast our economy can grow, but whether it is helping us to thrive within the planet’s limits.
Jasper Kenter Professorial Research Fellow, Deliberative Ecological Economics, Aberystwyth University
Why the UK should look beyond growth to a ‘new economics’ that works for all
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Age Concern Hampshire Extends Partnership with SNG to Combat Social Isolation Among Older People
Age Concern Hampshire is proud to announce the continuation of its valued partnership with SNG (Sovereign Network Group) to deliver social groups aimed at reducing social isolation and improving wellbeing among older people across Basingstoke, Overton, Whitchurch, Fordingbridge, and Totton. With support from SNG, Age Concern Hampshire will run a variety of social groups that bring people together in safe, welcoming, and engaging environments. The groups focus on physical and mental wellbeing, while creating opportunities for older people to socialise, connect, and build lasting friendships. The social groups are open to all older people in the local community, as well as residents of the housing schemes. This ensures that everyone has the chance to take part, enjoy the activities, and build connections across the wider community. Social isolation remains one of the biggest challenges facing older people today. Many experience loneliness due to reduced mobility, limited transport options, or the loss of loved ones. By participating in these social groups, older people can stay active, try new activities such as gentle exercise and creative workshops, and enjoy companionship in a supportive and friendly environment. “We’re delighted to be continuing our partnership with SNG,” said Brogan Rehill, Head of Fundraising and Volunteer Services at Age Concern Hampshire. “These social groups make such a difference and help those attending to stay active, build friendships, and feel part of a supportive community. "Tackling loneliness and isolation remains at the heart of what we do, and partnerships like this allow us to reach those who might otherwise be left behind. We’d love to expand this model to more supported housing schemes for older people across Hampshire, where around 12% of residents aged 65 and over live in similar settings. By working together, we can ensure even more people benefit from connection, companionship, and a sense of belonging.” Stevie Chadwick, Community Investment & Partnership Manager at SNG, said: “At SNG, we’re committed to supporting our communities to live well and thrive. We’re proud to continue our partnership with Age Concern Hampshire, whose groups are making a real difference to the lives of our customers. "The positive feedback we’ve received from customers has been incredibly heartening; these sessions support them to feel healthier and more connected. It’s a powerful reminder of the impact that meaningful connection and community support can have on wellbeing.” This partnership is part of Age Concern Hampshire’s ongoing commitment to support older people through social groups, volunteer-led programmes, and community initiatives that promote wellbeing and connection across the county.
Performing arts founder wins gold at Best Businesswomen Awards
Samuel Farley Senior Lecturer in Work Psychology, University of Sheffield David Hughes Lecturer in Organisational Psychology, University of Manchester Karen Niven Professor of Organisational Psychology, University of Sheffield
Swindon-based entrepreneur Fi Da Silva-Adams has been named a Gold Winner at the prestigious Best Businesswomen Awards 2025, the UK’s largest celebration of female business talent. Fi, founder and CEO of Swindon and Wiltshire’s leading performing arts company for children and young people, Revolution Performing Arts (RPA), was awarded Best Businesswoman Working with Children & Families award. Gold and Silver Winners of the Best Businesswomen Awards were announced at the Gala Awards Night at the Daventry Court Hotel, Daventry, on Friday October 11. After an anticipating lead-up, Fi was announced the ‘gold’ award winner within her competitive category. After launching RPA in 2007 as a small drama group for toddlers and preschoolers, Fi quickly expanded the programme to offer creative performing arts experiences to children of all ages. RPA was the first organisation to introduce performing arts after-school clubs in the Swindon area. Today, RPA delivers over 1,200 sessions every year, with 400 children attending weekly classes and nearly 5,000 young people taking part in its Holiday Activity and Food (HAF) Programme across Swindon and Wiltshire. The organisation also stages two public shows annually, offering inclusive, pressure-free performance opportunities for children from all walks of life. “I feel so honoured and privileged to win this national award in such esteemed company and especially in front of my beautiful family,” said Fi. “They have ridden the waves with me for the past 18 years and for them to celebrate with me is a feeling I can't put into words." In addition to RPA, Fi also leads Rapport Community Interest Company (CIC) – a not-for-profit sister organisation aimed at 11–18-year-olds. Rapport explores all forms of performing arts, including drama, singing and dance, delivered in a way that’s age-appropriate, inclusive and empowering. The focus is on confidence, self-expression, and celebrating individuality. The Best Businesswomen Awards were established to recognise and celebrate the achievements of women across all industries. The judges’ comments upon Fi’s win were: “Fiona has built more than a performing arts company; she has built a community. One where backgrounds, challenges or past traumas don’t define people; where individuality is treasured. From children who lacked confidence or have been silenced, to those who simply longed for a chance to shine. Her leadership is matched by her compassion.” For more information about Revolution Performing Arts visit: https://revolutionpa.co.uk.
By Nigel Driffield, Professor of International Business, Warwick Business School, University of Warwick
Stewart Lansley Visiting Fellow, School of Policy Studies, University of Bristol
In the run-up to the 2024 election, future prime minister Keir Starmer labelled wealth creation Labour’s number one mission. “It’s the only way our country can go forward,” he declared. “We should nourish and encourage that – not just individuals but businesses.” Starmer was right, in theory. But wealth creation is a slippery concept. Essential for economic and social progress, it can also work against both. It’s therefore vital to distinguish between “good” and “bad” wealth. According to one definition, increases in “good” wealth come from innovation, investment and more productive business methods. Such activity boosts economic resilience, social strength and the size of the economic cake. Examples include investment in medical and scientific technology – but also, crucially, in the activities that provide vital everyday services and goods to sustain our daily lives. Improvements in the quality of local shops, transport, services for children, adult care and decent hospitality all expand a country’s resources in ways that see the gains shared widely across society. However, over the past half-century, a rising share of economic activity in the UK and other rich countries has been connected with “bad” wealth accumulation, which actively hampers and harms a country’s prospects. Bad wealth is especially associated with non-productive or low social-value activities geared to personal enrichment. In Britain and elsewhere, decades of privatisation and wider tax, benefit and monetary economic policies have fuelled rising inequality while handing much of the command over resources to corporate boardrooms, top bankers and the very rich – with damaging effects for societies and economies alike. A central source of bad wealth has been a rise in the level of economic “extraction” or “appropriation”. This occurs when capital owners use their power to capture excessive shares of economic gains through activity which weakens economic strength and social resilience. Examples include the rigging of financial markets and manipulation of corporate balance sheets, a range of anti-competitive devices such as the rise in aggressive acquisitions and mergers, and the skimming of returns from financial transactions – a process City of London traders like to call “the croupier’s take”. Bad wealth is also the product of passive activity unrelated to merit, skill or prescient risk-taking. Over half of the increase in household wealth in the UK since 2010 has come from rising asset prices – in particular relating to property – rather than from more productive activity. This means a huge amount of that wealth is trapped in property and other assets which are not available for reinvestment in the economy. Britain’s economic record since the 2008 financial crisis has been dismal, with a collapse in the rate of economic growth amid much hand-wringing about its “productivity puzzle”. Yet over the same period, private wealth holdings have surged. In total, UK wealth – comprising property, physical and financial assets – is now more than six timesthe size of the country’s economy, up from three times in the 1970s. Other rich countries have seen similar trends. This surge in levels of personal wealth is not the product of more dynamic and innovative economies and record rates of investment. As an editorial in UK financial investment magazine MoneyWeek argued in 2019, too much personal wealth is the result of “mismanaged monetary policy, politically unacceptable rent-seeking, corruption, asset bubbles, a failure of anti-trust laws, or some miserable mixture of the lot”. It is these activities which account for the burgeoning bank accounts of the already super-rich. Around the world, from the mid-1990s to 2021, the top 1% of wealth holders captured 38% of the growth in personal wealth, while the bottom 50% received just 2%. In the UK, the average wealth of the richest 200 people grew from 6,000 times the average person in 1989 to 18,000 times in 2023. One of the most important outcomes of the rise of bad accumulation, and the associated surge in the concentration of personal wealth, has been the way opulence and plenty sit beside social scarcity and growing impoverishment. It has brought a significant shift in how national resources are used – away from meeting basic needs to serving the demands of corporate elites, a growing billionaire class, and private markets. “The test of our progress is not whether we add more to the abundance of those who have much,” declared US president Franklin D. Roosevelt during his second inaugural address in January 1937. “It is whether we provide enough for those who have too little.” By most metrics, Britain and many other wealthy countries are failing that test. ‘Money is like muck’ A key explanation for Britain’s low private investment, low productivity and slow growing economy is the disproportionate share of the rising profit levels of Britain’s biggest companies that has gone in payments to shareholders and executives in recent times. Dividend payments in the UK and globally have greatly outstripped wage rises over the last 40 years. In 2020, aggregate dividend payouts by the FTSE 350 companies made up some 90% of pre-tax profits. Often, these heightened dividend payments have been financed through borrowing, thus undermining corporate strength. In the case of Thames Water – stripped of much of its value by an aggressive profit strategy by its overseas owners – this has brought near-bankruptcy. Meanwhile, far from the promise of a property-owning society, large sections of the UK population have – outside of pension provision – no, or only a minimal, stake in the way the economy works. Those with few assets lose out from rising property prices and higher interest rates on savings. How a nation’s productive resources – land, labour and raw materials plus physical, social and intellectual infrastructure – are owned and used is key to its productive power, social stability, and distribution of life chances. “Money is like muck – not good except it be spread,” wrote the English philosopher and statesman Francis Bacon in 1625. In the UK, the more egalitarian politics after the second world war led to a more equal sharing of private wealth, and a much higher level of public ownership of key utilities and land. Then in 1979, newly elected prime minister Margaret Thatcher launched her drive for a “property owning democracy”. The windfall gains from council house sales and the selling of cut-price shares in her great privatisation bonanza initially benefited many ordinary people. But today, the balance sheet looks markedly different. While the sale of council houses initially boosted levels of home ownership in the UK, the number of first-time home buyers is now less than half its mid-1990s rate. As a result, the rate of home ownership has shrunk from a peak of 71% in 2000 to 65% in 2024, with the most marked decline among those aged 25-34. Getting on the housing ladder is now heavily dependent on having rich parents. The proportion of young people aged 18-34 living with their parents reached 28% in 2024 – a significant rise since the millennium. At the same time, today’s much more heavily privatised economy has eroded Britain’s holdings of common wealth. Publicly owned assets as a share of GDP have fallen from around 30% in the 1970s to about a tenth. This is one of the principal causes of the deterioration in the UK’s public finances, while handing more control over the economy to private company owners. Six ways to turn bad wealth into good The French economist Thomas Piketty has argued that today’s model of corporate capitalism has a natural, inbuilt tendency to generate ever-growing levels of inequality – “a fundamental force for divergence”, as he termed it. When the return on capital from dividends, interest, rents and capital gains exceeds the overall growth rate, asset holders accumulate wealth at a faster rate than that at which the economy expands, thereby securing an ever-greater slice of the pie – and leaving less and less for everyone else. In his 2014 book, Capital in the Twenty-First Century, Piketty offered an essentially pessimistic conclusion that breaking this inequality cycle has only happened across history through war or serious social conflict. In response to critics, he modified this position and now seems to accept that there are democratic mechanisms for delivering more equal societies – whatever the undoubted hurdles of implementation. Suppressing the profiteering and excessive returns that have driven higher levels of inequality is one of the biggest challenges of our time. But such an alignment of growth and rates of return on capital was broadly achieved in the post-war era, and there are several routes for achieving such convergence again – even in today’s very different conditions. 1. Shift the tax focus from income to wealth Despite the scale of today’s wealth boom, Britain’s tax system is still heavily biased to earnings. Income from work is taxed at an average of around 33% and wealth at less than 4%. Through political inertia, the UK tax system has failed to catch up with the growing importance of wealth over income in the way the economy operates, and does little to dent the growing concentration of wealth holdings at the top. In her first budgetin October 2024, the chancellor, Rachel Reeves, took steps to raise revenue through changes to inheritance and capital gains tax (the profits made on selling shares or property other than your home). But these were too modest to alter the imbalance in the taxation of wealth and earnings. A more fundamental shift would be to reform the existing system of council tax with a larger number of tax bands at the top. Still based on 1991 property values, this is perhaps the least defensible tax in Britain. Households in poorer areas pay more than better off households in the richest. In Burnley, the typical household pays some 1.1% of the value of their home in council tax every year. In a typical property in Kensington and Chelsea, it is 0.1%. The most effective alternative would be to replace council tax and stamp duty – the tax on the purchase of homes – with a single progressive or proportionate “property tax”. Any serious reform requires a long overdue property revaluation and an extension in the number of tax bands. A modest and phased rise in capital taxation would also help to break up today’s wealth concentrations and reduce the passive – and often malign – role played by wealth holdings. Even small changes would release funds which could be used to improve social infrastructure from schools to hospitals. One such change, as recommended by the Office for Tax Simplification, should be to raise the rates on capital gains tax so that they are equal to income tax rates. In 2024, 378,000 people paid UK capital gains tax worth a total of £12.1 billion – a decrease of 19% on the previous year. Measures to limit asset inflation could include extending the Bank of England’s remit on inflation to limit rises in property prices, which have led to historically high rents and priced a rising proportion of young people out of home ownership. 2. Reduce how much wealth gets passed on “A power to dispose of estates forever is manifestly absurd,” the Scottish economist Adam Smith declared 250 years ago. “The Earth and the fullness of it belongs to every generation, and the preceding one can have no right to bind it up from posterity. Such extension of property is quite unnatural.” Despite Smith’s exhortations, birth and inheritance remain the most powerful indicators across most countries of where you end up in the wealth stakes and the pattern of life chances. Importantly, inheritance does little to boost productive activity. Higher ratios of inheritance in wealth holdings – and recent decades have seen an upward shift– tend to be associated with reduced economic dynamism. Assets tied up in large wealth pools are often little more than “dead money”: idle resources that could be put to use funding public services or productive investment. Yet, helped by light taxation, social privileges continue to be handed on in perpetuity. Only 4.6% of deaths in the UK resulted in an inheritance tax charge in the 2023 financial year, contributing a tiny 0.7%of all tax receipts. Around 36% of all wealth is stored in property, and there is a strong public attachment to people retaining their inherited housing wealth – even among those who are not beneficiaries. In part, inheritance tax is widely perceived as unfair because of the way the richest are able to avoid it. Of people born in the UK in the 1980s, those in the poorest fifth by wealth will enjoy an average 5% boost to their lifetime income through inheritance, compared with 29% for the top fifth. Clearly, those on the wrong side of this gap will be left even further behind by the end of their lives. And the divide is widening sharply. The scale of intergenerational wealth transfer is on a steeply upward trend, with projected levels of inheritance set to dwarf all previous wealth transfers in the coming decade. Little of this process contributes to more productive activity, with one of its primary and malign effects being to fuel higher house prices. 3. Introduce a ‘whole wealth’ tax Another much-debated option would be to levy a new tax on whole wealth holdings, rather than just the revenue these assets generate. An annual 1% tax on wealth over £2 million – affecting some 600,000 people in the UK – could raise around £16 billion a year, according to the 2020 Wealth Tax Commission report. Such taxes would be easier to levy on immobile assets like buildings and land taxes than on liquid assets, such as financial holdings. But this complexity is not insurmountable – and nor is public opinion. Such a measure could be sold politically as a “solidarity tax” to help pay for key under-resourced but high social-value services – such as a proper social care system and improved services for children. While many governments have been wary of the political reaction to higher taxes on wealth, YouGov’s most recent survey suggests around three-quarters of the public now support such a tax, with more than half strongly supporting it. 4. Increase public ownership of utilities and services Tackling inequality and profiteering also require a greater level of common and social ownership. Britain is a heavily privatised and marketised economy. Few other developed countries have handed over such control of key utilities to private firms. Privatised in 1989, Britain’s water industry has been turned into a potent example of profiteering. Under private ownership, it has delivered leaky and unrepaired pipes, the illegal dumping of sewage spills into rivers and beaches, and two decades of under-investment in large part because of the disproportionate share of profits going in dividend payments to mostly overseas owners. Another significant trend has been the private takeover of a range of public services – from social care to children’s services. According to the Competition and Markets Authority(CMA), the UK has “sleepwalked” into a dysfunctional system with widespread profiteering in privately run children’s homes. It found operating profit margins averaging 22.6% from 2016-20, driven by escalating charges and cost-cutting. These examples of bad accumulation have hollowed out some of the UK’s most vital industries. A mix of public and social ownership and much more effective regulation are necessary to turn these industries into effective service providers rather than cash machines for investors. Regulatory reforms are also needed to moderate the way some markets work. The CMA suggests that anti-competitive behaviour and “oligopolistic structures” are hallmarks of a rising volume of business activity. For example, it has accused the UK’s seven largest housebuilders of collusion on issues from pricing to marketing. Price gouging – when firms exploit emergencies such as the COVID pandemic and Russia’s invasion of Ukraine to charge excessively high prices for essential goods – is another area ripe for tougher intervention. 5. Establish citizens’ wealth funds Alongside greater social ownership, all citizens need to be given a more direct stake in the gains from economic activity. As one heckler put it during the Brexit referendum: “That’s your bloody GDP, not ours.” One route would be to build models of “people’s capital” through a new strategy of asset redistribution to individuals. This would extend the principle of income redistribution that has been one of the main, if now much weakened, pro-equality instruments of the post-war era. A medium to long-term plan would be to create one or more national and local “citizens’ wealth funds”, owned collectively by all on an equal basis. Originally advanced by the British economist and Nobel laureate James Meade, such funds would be created by the state but owned by society, with returns distributed either as universal dividends or as investment in public services. Such a fund could be financed from a mix of sources including long-term government bonds; the transfer of several highly commercial state-owned enterprises, such as the Land Registry, Ordnance Survey or Crown Estate; part of the proceeds from higher wealth taxes; and new equity stakes in large corporations. Perhaps the most notable example of citizen-owned capital is the Alaska Permanent Fund. This was created in 1976 from oil revenues and effectively owned by all of the US state’s citizens. It has since paid out a highly popular annual dividend which averages about US$1,150 (£875) a year. The UK has its own example: also in 1976, the Shetland Islands Council established a charitable trust from “disturbance payments” paid by oil companies in return for operational access to the seas around the islands. The returns from this trust have been used to fund social projects, from leisure centres to support for the elderly. Another possibility is to establish a national pension fund that would eventually pay for the cost of state pensions. Australia’s Future Fund, for example, is an independently managed sovereign wealth fund to meet future civil service pension obligations. Established in 2006 by receipts of AUS$50 billion (£20 billion) from the sale of Telstra, the national telecoms company, it has since been supplemented by direct government grants and is projected to reach a value of AUS$380 billion by 2033. The UK government has launched the Community Wealth Fund, a £175 million initiative aiming to “transform neighbourhoods with long-term financing”. Working with local communities the initiative will fund projects in local communities across England. Despite its modest finances, this establishes the principle of collectively owned social funds. This is funded through the government’s Dormant Assets Scheme, which unlocks old bank accounts and other financial products that have been left untouched. 6. Spread access to the nation’s assets across society Any meaningful redistribution of wealth across society requires a suite of deep structural reforms from improving access to affordable housing to reducing levels of corporate extraction. One of the most important issues is finding ways of extending access to assets to all citizens as a condition of democratic opportunity. The Child Trust Fund, introduced by New Labour in 2005, was an ambitious attempt to address wealth inequality by giving every child a modest financial stake – a kind of citizen’s inheritance. Yet the scheme was abolished in 2010 by the incoming coalition government. In the event, it only achieved a modest impact. Average payouts when children reached 18 were around £2,000, with a quarter of all accounts being forgotten or lost. The desired shift in household saving habits tended to be limited to more affluent parents paying extra into the trust funds, meaning the policy reinforced some of the inequalities it had aimed to challenge. Bold decisions required While recent years have seen a growing debate about the impact of ever higher concentrations of wealth in the UK, few proposals for real change – beyond a mere tampering at the edges of inheritance and capital gains tax – are yet on the political agenda. Some of these measures would take longer to achieve, and some, such as citizens’ wealth funds, are more ambitious and potentially transformative than others. All would require bold decisions by government. In the run-up to her much-anticipated November 26 budget, the chancellor has hinted that higher taxes on the wealthy will be “part of the story” – although a manifesto-busting rise in the base rate of income tax is also on the cards. Against this, Reeves has ruled out a standalone wealth tax, and there appear to be no plans for more radical measures to rein in excessive profiteering. This means that the wealth gap is probably set to widen. Yet history suggests the idea of limiting high concentrations of wealth is far from utopian. Limits operated relatively effectively among nations including the UK and US in the post-war decades, through a combination of regulation, highly progressive taxation and changes in cultural norms. The highest personal fortunes were more modest in part because of the destructive effect of war on the size of asset holdings. There was also a new social and cultural climate that would not have tolerated today’s towering fortunes, and which allowed the post-war progressive tax systems to be maintained for decades. Restructuring the process of wealth accumulation is never going to be straightforward politically. The protests over the adjustment to inheritance tax in 2024, in particular its impact on farmers, demonstrates how sensitive these issues are – particularly when stoked by those seeking to make political capital out of pro-equality reforms. But Britain stands at a historic moment. Failure to tackle mounting wealth-driven inequality will have harmful consequences for the social and economic stability of generations to come. Amid rising public anxiety about the future and a widespread sense that the economy is “rigged” against ordinary people, a more ambitious political agenda that addresses inequality and economic stagnation could win public backing, if any government is brave enough to try.
Bad wealth made good: how to tackle Britain’s twin faultlines of low growth and rising inequality
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Zen Internet, a B Corp certified business, has marked its 30th anniversary with a celebration at its Rochdale headquarters, honouring three decades of innovation, growth and doing business “the right way”. The company officially opened its doors for business on 13 October 1995, following its incorporation by founders Richard Tang (CEO) and his brother Daniel on 13 September. It’s 30-year milestone makes it the UK’s longest-standing independent Internet Service Provider (ISP). Richard started Zen with just £5,000, a few Linux PCs, and six dial-up modems perched on an Ikea shelf. It’s grown from a two-person start-up into one of the UK’s leading independent ISPs, employing more than 650 people and serving businesses and consumers nationwide. “It’s testament to our longevity that we are the UK’s oldest ISP,” said Tang. “All our main competitors when we started have long since disappeared – yet we’re still here, stronger than ever, and still independent.” From pub idea to pioneering ISP Zen’s story began in the summer of 1995 when Tang, then a software engineer, first heard about the Internet. Over a pint in a local pub, he asked his brother, Dan, if he fancied setting up an Internet provider – and Zen was born. By October that year, the pair had launched their first £10-a-month dial-up service, created from Richard Tang’s kitchen table, which could support six simultaneous users sharing just 64 kbps of bandwidth. In 1998, Zen turned its first profit and by the early 2000s was riding the broadband wave, doubling turnover year-on-year and expanding rapidly across the UK. Zen’s story is not just about technology, but also about the North West’s role in the UK’s digital economy. From its Rochdale base, the company has proved that innovation and resilience can thrive outside London and put Greater Manchester on the map as a hub for connectivity and digital services. Tang’s decision to base Zen in Rochdale, rather than London where most ISPs clustered, helped the fledgling company stand out. “It gave us space to grow,” Tang said. “We wanted to do things differently, and being outside the London bubble was part of that.” Over the last 30 years, Zen has evolved alongside constant technological change and the internet itself – transitioning from dial-up to broadband and fibre services – while staying true to its independent roots.Reflecting on the company’s journey, and looking ahead, Tang said: “When I started Zen, I could never have imagined how transformational the Internet would become. The fact that we’re still here 30 years later – thriving, independent and making a positive impact – is beyond my wildest dreams.” “Zen remains proudly independent. I’ve seen so many of my peers sell up, but that’s never been my goal,” he said. “Zen exists to do right by people and the planet. Money is just the fuel to make that happen.”That ethos underpins Zen’s B Corp certification, achieved in 2020, which recognises its social and environmental responsibility. From carbon reduction initiatives to employee empowerment, Zen continues to lead by example in how a tech company can balance profit with purpose. Brits get nostalgic as Zen charts 30 years of going online To mark its 30th anniversary, Zen commissioned new research exploring how Britain’s relationship with the internet has evolved — from floppy disks and dial-up tones to TikTok and AI. The “Boomers vs Zoomers” study revealed that 31% of Brits remember floppy disks as their first way to access the internet, while a third of 18-year-olds have no idea what a floppy disk even is. Four in ten say YouTube or Facebook were their first online obsessions, while almost a quarter recall buying clothes as their first online purchase. When asked what they miss most about the early days, Brits cited “simplicity” — a contrast to today’s always-on, endlessly scrolling digital world. Yet, despite changing habits, the internet’s role in modern life has never been more vital: a third of people said they couldn’t live without it, with top reasons including entertainment (60%), reconnecting with friends (54%) and learning or upskilling (35%). “We’ve been there since the very beginning of the UK internet, which has come from nowhere to become a critical part of our lives,” said Tang. “What’s clear is that while platforms change, the human drive for connection and creativity has remained the same. The next 30 years promise to be even more transformative.” Looking ahead, a third of Brits believe that robots will take over household chores and driverless cars will be commonplace within 30 years — predictions Tang thinks will arrive much sooner.“I’d say both within the next 15 years,” he added. “And what all these advances will rely on is strong, secure and reliable connectivity — exactly what Zen was built to provide.” For more on Zen Internet’s 30-year journey, visit: Zen Internet: 30 Years
Guilherme Klein Martins Lecturer in Economics, University of Leeds
Zen Internet celebrates 30 years: longest-standing independent ISP in the UK
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If the AI bubble does burst, taxpayers could end up with the bill
You might not care very much about the prospect of the AI bubble bursting. Surely it’s just something for the tech bros of Silicon Valley to worry about – or the wealthy investors who have spent billions of dollars funding development. But as a sector, AI may have become too big to fail. And just as they did after the financial crisis of 2008, taxpayers could be picking up the tab if it collapses. The financial crisis proved to be very expensive. In the UK, the public cost of bailing out the banks was officially put at £23 billion – roughly equivalent to £700 per taxpayer. In the US, taxpayers stumped up an estimated US$498 billion (£362 billion). Today, the big AI firms are worth way more than banks, with a combined value exceeding £2 trillion. Many of these companies are interconnected (or entangled) with each other through a complex web of deals and investments worth hundreds of billions of dollars. And despite a recent study which reports that 95% of generative AI pilots at companies are failing, the public sector is not shy about getting involved. The UK government for example, has said it is going “all in" on AI. It sees potential benefits in incorporating AI into education, defence and health. It wants to bring AI efficiency to court rooms and passport applications. So AI is being widely adopted in public services, with a level of integration which make it a critical feature of people’s day to day lives. And this is where it gets risky. Because the reason for bailing out the banks was that the entire financial system would collapse otherwise. And whether or not you agree with the bailout policy, it is hard to argue that banking is not a crucial part of modern society. Similarly, the more AI is integrated and entangled into every aspect of our lives, the more essential it becomes to everyone, like a banking system. And the companies which provide the AI capabilities become organisations that our lives depend upon. Imagine, for example, that your healthcare, your child’s education and your personal finances all rely on a fictional AI company called “Eh-Aye”. That firm cannot be allowed to collapse, because too much depends on it – and taxpayers would probably find themselves being on the hook if it got into financial difficulties. Bubble trouble For the time being though, the money flowing in to AI shows little sign of slowing. Supporters insist that despite the failures, investment is critical. They argue that artificial general intelligence (AGI), the point at which AI acquires human-like cognitive capabilities, will vastly improve our lives. Others are less optimistic. Commentators including computer scientists Gary Marcus and Richard Sutton have cast doubts on the power of AI to become truly intelligent. In my own research, I highlight the limitations of large language models (LLMs) when it comes to reasoning. Similar conclusions have been drawn at other universities and even at tech company Apple. So perhaps the endless expansion of the AI bubble comes down to how strongly the AI pioneers believe in its future. They’ve gone pretty far with it, so maybe it makes sense for them to go all in, with a pragmatic kind of faith that keeps the bubble growing. The trouble is that one tech billionaire’s act of faith could also be described as a gamble. And it’s a gamble they want everyone to join, with taxpayers’ money on the table. So if the gamble fails and the bubble bursts, who would bear the costs? Would the UK government cut funding from the NHS or siphon money from a cash strapped education sector? Would it bail out pension funds that had over-invested in AI? One thing is certain. The future being offered by AI firms is not guaranteed. Yet governments and businesses are worried they will miss out if they don’t get on board – and there are no safeguards in place to protect taxpayers from the fallout if things go wrong.
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Many of us will have experienced the rage that comes with being badly treated at work – and maybe even felt the instinct to pack up and leave. Bad bosses, belittling treatment or poor pay could be behind these kneejerk emotions. But, while most employees swallow their anger and get back to work, some walk out in a way that tells their employer exactly how they feel. Welcome to the world of “revenge quitting”. Unlike “quiet quitting”,“ where workers stay in their job but do only the bare minimum, revenge quitting is about making a loud and visible stand. It’s a phenomenon that has now spread around the world. Quitters have filmed their exit for social media, sent scathing farewell emails or quit two hours before they were due to teach a class. These incidents show how revenge quitting can be empowering – a way to reclaim dignity when workers feel ignored or mistreated. But this signals more than increased workplace drama or a generational change in behaviour. It indicates that when riled, some workers are ready to make their exit heard. Economist Albert Hirschman’s classic 1970 book Exit, Voice, and Loyalty suggested that when dissatisfied, people can either use voice (speak up and complain), show loyalty (put up with it) or exit (leave). Revenge quitting is a form of exit, but one designed to send a message to employers. Several workplace dynamics increase the likelihood of revenge quitting. abusive bosses and toxic environments: research shows that abusive supervision makes workers more likely to retaliate and to quit mistreatment by customers: studies also show that rudeness or incivility from clients can spark revenge intentions in frontline workers emotional exhaustion: being overworked or unsupported can tip people into retaliatory behaviour, including dramatic resignations social media culture: platforms like TikTok provide a stage, making quitting not just personal but performative. Risks and alternatives Of course, revenge quitting comes with risks. Dramatic exits may damage future careers, especially in small industries where word travels fast, or if workers quit multiple times after a relatively short stay. For those with in-demand skills or plenty of experience and a history of good performance, the risks may be lower. So, what are the alternatives? voice rather than exit: raising concerns with the HR department, wellbeing leads or trade union representatives (where they exist) disengagement: quietly withdrawing, for instance by not spending time preparing for meetings or avoiding extra tasks, as a way of regaining some control. These alternatives might ultimately harm organisations more than a worker who quits loudly (so long as revenge quitting doesn’t become a wider phenomenon in the organisation). But of course, not everyone who wants to quit can do so. A 2023 surveyffound that more than half of workers worldwide would like to leave their jobs but can’t. This could be due to things like financial responsibilities, limited opportunities or family constraints. Employment relations researchers have called these people "reluctant stayers”. One study found that around 42% of employees in two organisations were reluctant stayers. Others have found that these “stuck” employees often develop plans to retaliate. They may quietly spread negativity or undermine productivity. In the long run, this may cause more harm than revenge quitting. The effect of revenge quitting is likely to depend on the context. In small organisations, a sudden departure can be devastating. This is especially true if the employee has rare or highly valued skills. Sudden loud quitting may also hurt the colleagues left behind to pick up the pieces. Larger organisations may experience inconvenience but are likely to be able to absorb the shock more easily. While a loud exit by senior or highly skilled staff may have significant impact, employers will be keen to prevent this, working to resolve problems before things reach breaking point. For this reason, revenge quitting is likely to be more visible among more junior or precarious workers, who often feel less supported. So what can workplaces do? Revenge quitting can be a sign that traditional employee support systems aren’t working. Many HR teams are already overstretched, and are struggling to meet all the demands placed on them. But still, there are some basic practices that employers can follow. These include encouraging open communication so employees feel safe raising issues, as well as training managers to avoid abusive or micromanaging behaviour. And although it may seem obvious, unequal workloads and conditions will leave workers disgruntled – it’s important to ensure they are fair. Employers should also recognise the expectations of younger workers, who often prioritise respect and balance. At its heart, revenge quitting reflects serious issues in a workplace. While leaving loudly can feel empowering for the worker, especially in the heat of the moment, it could be bad news for both employees and organisations.
Kathy Hartley Senior Lecturer in People Management, University of Salford
Revenge quitting: is it ever a good idea to leave your job in anger?
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CITY UNSCRIPTED RANKED 5TH FASTEST-GROWING TECHNOLOGY COMPANY IN THE UK IN THE 2025 DELOITTE UK TECHNOLOGY FAST 50
City Unscripted, the travel technology company connecting travellers with local hosts in 85 cities worldwide, today announced that it ranked 5th in the 2025 Deloitte UK Technology Fast 50, a ranking of the country’s 50 fastest-growing technology companies based on percentage revenue growth over the past three years. City Unscripted attributes its growth to arising global demand for authentic, human-centred travel experiences that go beyond traditional tours to help people experience cities as if they already belong there. “This recognition is a wonderful milestone for our team,” said Nick Whitfield, CEO of City Unscripted. “It shows that meaningful, personal travel experiences can scale – and that technology can bring connection back to how we explore cities.” Kiren Asad, lead partner for the Deloitte UK Technology Fast 50 programme, said: “The exceptional growth showcased by this year’s Fast 50 winners reaffirms the UK technology sector's dynamic resilience and innovative spirit. In an ever-evolving economic environment, these businesses have not merely adapted but have thrived, thanks to their strategic vision, pioneering talent, and relentless commitment to groundbreaking innovation.” Now in its 28th year, the Deloitte UK Technology Fast 50 recognises the country’s most innovative and fast-growing technology companies across industries including software, fintech, media tech, and clean energy. This year’s winners collectively generated £2.41 billion in annual revenues in 2024/25 and recorded an average three-year growth rate of 1,905 per cent.
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People-first HR consultancy Wellington HR has become an employee-owned trust (EOT) in a move designed to secure the company's long-term future, protect its values, and reward the team who helped build its success. Founded in 2019 by Somerset based Dr Shelley Poole, the business was set up to support independent HR consultants by providing expert cover during periods of leave, high demand or for extra capacity. Since then, the company has grown to a team of five and has a turnover of more than a quarter of a million pounds. Shelley said "Moving to employee ownership just made sense for us. This business has always been about fairness, teamwork and looking out for people, so giving the team a real stake in where we're going feels like the right way to grow. It's a way of saying, 'We're in this together, as we always have been." Shelley's interest in employee ownership began several years ago when she supported another business considering the model. That experience eventually became the focus of her doctoral research which explored employee voices within employee-owned businesses. "I never set Wellington HR up with the idea of taking all the rewards. We had to make do with very little when I was growing up and I have been fortunate to have had the opportunities I have had in life. I want to build something that gives others real opportunities too," she said. It was these values that led Shelley to make the decision to gift the business to the EOT rather than sell it for its market value. While a private equity approach was considered, it didn't feel like the right fit. Instead, Shelley worked with Kent-based expert Chris Maslin of Go EO to support the transition, which was completed in just six months. "Go EO made the process smooth and affordable. They handled all the technical and legal parts, which meant we could stay focused on our clients and our work." Shelley remains in post as Managing Director and says day-to-day operations remain largely the same. "We've always worked in a flat, structured and collaborative way. This just formalises the shared ownership mindset that was already part of our culture." Although still early in the journey, Shelley says the shift has already brought positive change. "The energy in the team has gone up a notch. Everyone's always been committed, but this has added an extra layer of motivation and pride. It's a natural next step in how we work together." To celebrate the transition, Wellington HR hosted a gathering for clients, supporters and friends of the business. The team also launched a social media campaign to share their journey and connect with others considering the employee ownership route. Looking ahead, Shelley says the future direction of the business is being shaped together by the team. Their knowledge of employee ownership now means that they work with a number of other employee-owned businesses helping them to ensure that their HR support is delivered in an EO-friendly way. "This has been a real milestone for me personally," said Shelley. "What started as an idea at my kitchen table has grown into a business I'm proud to pass on to the people who helped build it. "And thanks to Chris at Go EO, there's even a six-week sabbatical in the plan." Her advice to others considering employee ownership: If it fits your values, it could be one of the most meaningful steps you take
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Shoreham Port wins 2025 ESPO Award for Diversity & Inclusion Strategy
Shoreham Port has been awarded the prestigious 2025 ESPO Award on Social Integration of Ports by the European Sea Ports Organisation (ESPO), recognising the Port’s innovative and inclusive approach to creating a more equitable maritime workplace. Now in its 17th year, the ESPO Award celebrates ports that show exceptional commitment to community engagement and social responsibility. This year’s theme,“Innovative strategies to attract more women to work in ports,”highlights the importance of gender equality, representation, and inclusion across Europe’s port sector. The award was presented in Brussels on 5 November during ESPO’s annual ceremony at the historic Hotel des Douanes, where Shoreham Port’s Diversity & Inclusion Strategywas commended for its authenticity, measurable impact, and cultural depth. The Port’s approach demonstrates how a Trust Port can balance commercial success with meaningful social purpose. “It is a real honour for a port of our scale to benchmark with the inspirational diversity work carried out at some of Europe’s most significant maritime hubs,” said Catherine May, Chair of the Shoreham Port Board. “We are delighted that our cultural transformation at Shoreham Port won the ESPO award this year. Five years into our programme we have delivered huge change for working women in our port and our community, and the ESPO recognition will encourage us to be even bolder with our efforts as we complete the second half of our 10-year plan.” Shoreham Port’s Diversity & Inclusion Strategy has embedded inclusive values across every area of the business, from recruitment and leadership development to apprenticeships, accessibility, and community partnerships. Key initiatives include gender-balanced leadership pathways, targeted mentoring for young women entering maritime careers, and collaborative projects promoting inclusive economic growth across Sussex. The award was presented by Oihane Agirregoitia Martinez, Spanish Member of the European Parliament (Renew Europe) and member of the TRAN Committee, who praised this year’s nominees for advancing equality across Europe’s maritime workforce. Shoreham Port extends warm congratulations to the shortlisted ports of Rotterdam, Lisbon, and Helsinki, whose projects also embody the spirit of innovation and inclusion that defines the ESPO Award.
The company has been shortlisted at the PPA Independent Publisher Awards 2025, with Niamh Smith and Evy Williams named finalists and new title Capital Pioneer recognised in the Launch of the Year category
Rhotic Media is proud to announce that two of its rising stars, Niamh Smith and Evy Williams, have been named finalists at the prestigious PPA Independent Publisher Awards 2025, with the company also securing recognition for its newest title, Capital Pioneer. The awards, organised by the Professional Publishers Association (PPA) – the UK’s leading trade body representing publishers including Condé Nast, Future, Bauer Media Group and Haymarket Media Group – celebrate the very best in independent publishing. Niamh Smith, editor of Financial Promoter and a graduate of the Rhotic Media Degree Apprentice programme, has been shortlisted in the Editor of the Year category. She will compete alongside industry leaders such as Louise Robinson (Saga plc.) and Pat Riddell (National Geographic Traveller UK). Evy Williams, writer forCapital Pioneerand also a product of the Rhotic Media Degree Apprentice programme, has been named a finalist for Writer of the Year. She joins a distinguished shortlist including Farida Zeynalova (National Geographic Traveller), Sienna Rodgers (The House/Total Politics), and John Earls (Anthem). In addition, Rhotic Media’s newest title, Capital Pioneer, has been shortlisted for Launch of the Year, further cementing the company’s reputation for innovation and editorial excellence. Previous PPA award winners and finalists include some of the most influential names in publishing, such as Edward Enninful (British Vogue), Mark Ritson (Marketing Week), and Dylan Jones (GQ UK). Joe McGrath, CEO of Rhotic Media, said: “It gives me immense pride to see Niamh and Evy recognised on such a prestigious stage. "Both are shining examples of the talent nurtured through our Degree Apprentice programme, and their shortlisting alongside some of the most respected names in publishing is a testament to their exceptional work. “To also seeC apital Pioneer recognised as Launch of the Year is a huge endorsement of our team’s creativity and ambition.”
Rhotic Media a triple finalist at PPA Independent Publisher Awards
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