So, back to bad behaviour at the economic cocktail party and some more double dipping in the UK economy. The figures may have come as a surprise, but take a step back and of course when you join the dots together it shows a low, slow economy – and a few points either side of nought is a margin of error.

However, it is worth remembering that the stats from the Office of National Statistics have an average revision rate of 0.2%, so the populist squealing that followed the announcement did have a tinge of hyperbole. Business activity from closer business sources and my own practical experience is in fact a bit more positive, although not enough to get too excited about.

So what next?

Well, time for some positive political leadership to show some credible action and dynamism. Maybe some more quantitative easing - not as before, but far more actively directed as I mentioned previously, towards the growing small and medium enterprises area.

Secondly some more radical tax reforms and innovations and not just pasty tinkering and a new business development acronym – like removing Stamp Duty on property?

Thirdly how about releasing local authority pension schemes for investing in better returns from social housing?

Three quite practical ideas.

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And finally… good to know you really have a caring employer?

“UK firm’s 1,300 staff accidentally given marching orders”. LONDON Reuters reported that employees at the fund management arm of Aviva got a shock on Friday when the company sent an email with leaving instructions
intended for one departing employee to the entire worldwide staff of 1,300 people.

The firm’s human resources department realized its mistake and recalled the offending message after 25 minutes – so you can imagine the effect of that. Soon afterwards they sent out another email apologising to staff for the error.

“An email which was intended for a member of staff who was leaving today was accidentally sent to all Aviva Investors staff worldwide,” Lockstone said.

“People were pretty quickly aware of the fact that this was a mistake … I don’t believe any of our staff would have seen it really as anything other than the mistake that it was.” Oh really?

Aviva Investors is the fund management arm of UK-based Aviva plc, the world’s sixth-largest insurance group, and manages assets of more than £262 billion, so presumably has some considerable HR experience?

Have a good week.

Justin Urquhart Stewart
Director
Seven Investment Management Limited