I don't need to look at the paper to know that whatever data they had was tortured until it conformed to ideology of the researchers. It's 'social' science after all, not actual science.
Instant payment is only half of the problem that Revolut solved; the other is 'identity', i.e. being able to pay someone stored in my phone address book, rather than having to deal with 34-character IBANs.
For most people, under a normal tax regime, investments other than ETFs are indeed irrational.
But explain to us - what's logical about BRKB being tax free until death, when an ETF is not?
Indexation on CGT ended in 2003.
Since then, a hypothetical €100 investment that merely matched official inflation rates would be worth €162.37.
The €62.37 would be liable for €20.58 in CGT.
A stealth 'wealth tax' of around 0.6% per annum.
There's nothing unrealistic about going back to the same rules that existed less than twenty years ago, and still exist in most other countries. We are the outlier.
Yes, I do regard this as extremely naive. Even if the current 'powers that be' appear to be acting in your best interests, the next ones might decide not to. Don't give them power; you won't get it back.
It would amaze me if the Government ever introduced a policy that didn't coddle farmers or business owners, or didn't incentivise you to buy the largest PPR you could.
Saving more cannot fix the dependency ratio problem.
Either productivity dramatically increases, or living standards do the opposite.
All ageing countries are in a lot of trouble.
You know it's autumn, or winter, and so it's wet. You see the trees, you see the path covered in leaves. If you fall, it's your own damned fault.
Trying to pawn off your liability on the council will not result in them cleaning up the leaves; it will just result in the trees being cut down...