Column
Character
Culture
Economics
4 min read

This revolting rich list is a freak show

What are we to make of this quite nauseating spectacle?

George is a visiting fellow at the London School of Economics and an Anglican priest.

A collage of famous, rich, people such as King Charles, Elton John and others.
The Sunday Times.

General elections are no longer a clear choice between socialism and capitalism, but we should still be as offended by the privilege of the few over the poverty of many. That’s only natural, whether we’re informed by envy, a secular sense of fairness or a religious faith.

The yawning chasm between rich and poor in the UK is offensive. When PM Rishi Sunak was drenched in his vale of tears this week outside Number 10, as he announced the general election, he was seeking a mandate to preside over this inequality, in which he so richly participates.

He stood there exactly three days after he and his wife waved from the pages of the Sunday Times Rich List, based on the newspaper’s “conservative estimates of the minimum wealth of Britain’s 350 richest people.”

The Sunaks stood at 245th on the list with a measly £651m. Just 20 years ago, when I was in business, that figure would have put them near the top. Some of my business contemporaries had even made the Rich List with just a few tens of millions.

Not anymore. Mere multimillionaires barely make the cut. The ever-widening gulf between the super-rich and the rest of us means that the top 165 of last Sunday’s list of 300 are now billionaires, compared with just 20 a quarter of a century ago, while the “bottom” of today’s heap struggle by as half-billionaires. 

It does make you wonder what the Sunday Times is doing with this revolting annual survey. It has become such an anachronism since it started in the Eighties, when greed was good and we worshipped Croesus impersonators.  

Every year, we’re invited to press our noses up against their plate-glass window and drool at a world that’s as alien as a pharaoh’s to the slaves building their pyramid. What do they want from us for this display of greed? Envy?   

Times (even on Sunday) have changed and the Rich List satirises itself. Look at the ads that support it. There’s one for a 122-metre yacht that can be chartered for three million euros a week. A few pages later there’s one for a Swiss clinic “for the treatment of mental health and issues of substance and behavioural dependency”. Could these ads be related?  

So what the Sunday Times is presenting is a kind of freak show. Roll up, roll up, see the people who are tax exiles from the planet. 

The Rich List is just for the British mega-rich. So no room here for Meta-billionaire Mark Zuckerberg or space-wingnut Elon Musk. But it’s nice to see at the top of the list, with just a couple of hundred million over the £37bn-mark, the Hinduja family, whose leading lights so publicly acquired British passports some years ago, with or without government help.  

And here’s Lakshmi Mittal (No. 8 with £15bn), who was recently accused of profiting from both sides of the Ukraine conflict, after a part-owned Indian company bought nearly £2.4bn of Russian oil since the start of the war. Which newspaper revealed this? Step forward the Sunday Times.  

And there’s vacuum magnate Sir James Dyson (No. 5 with £21bn) who backed Brexit and then moved his global HQ to Singapore. That’s the beauty of being so rich; you can escape the consequences of your own actions. 

Most of the list is what similarly might be called colourful. These cannot, by virtue of their economic separation, be normal people. So what the Sunday Times is presenting is a kind of freak show. Roll up, roll up, see the people who are tax exiles from the planet. 

Money is its own reward. But ultimately its power is empty. 

What are we to make of this quite nauseating spectacle? Sure. there is no virtue in poverty. But nor should there be a prosperity gospel, which holds that the righteous are financially rewarded, other than in the outer reaches of an American charismatic movement. 

Among the things that make us go “hmm” in this report is the attitude to life. Phones 4u founder John Caudwell (No. 109, £1.5bn) says “If I stopped I’d probably be desperately unhappy.” Hmm. New entrant to the list Graham King (No. 221=, £750m) made his fortune from public money contracts for accommodation for asylum seekers that inspectors have described as “decrepit” and is currently the subject of charges under the Housing Act 2004. Hmm. 

Cursed are the rich, for they shall lose touch with reality. That’s not a heretical rewrite of the Sermon on the Mount, with its “Blessed are...” Beatitudes. There are actually four lesser known woes in the Gospel of Luke: 

 “Woe to you who are rich, for you have received your consolation. Woe to you who are full now, for you will be hungry. Woe to you who are laughing now, for you will mourn and weep. Woe to you when all speak well of you, for that is what their ancestors did to the false prophets.” 

These woes aren’t about revenge. But they do speak to the consequences of extreme wealth – such as profiteering from desperately vulnerable people or working so hard you can’t think properly. 

Money is its own reward. But ultimately its power is empty. Today, the Sunday Times should be as ashamed of idolising it as those it lionises for making so much of it.  

Article
Digital
Work
4 min read

Back to the office! The suspect motives behind the bosses calling for it

Working From Home isn’t the end of the world.

George is a visiting fellow at the London School of Economics and an Anglican priest.

An office wall displays a huge motto reading 'punch today in the face'
Really?
Johnson Wang on Unsplash.

If we’d been working from home in 1980, I wouldn’t have met my wife (as she, of course, then wasn’t). The slow demise of the office romance may not exclusively be driven by WFH, when a clumsy or unwanted speculative pass will likely precipitate a visit from the HR police. But it’s sure harder (I’m told) to chat someone up over Zoom than a water-cooler. 

There are some things you just, well, have to be there for. And it’s not just a matter of curating the gene pool for the future of the human race, which is hardly the top priority for most employers. Much more immediate commercial demands are served by employees being bodily present at work. They can check colleagues’ body language, be mentored more spontaneously, gossip about work, read the room and go outside for a fag with a friend. None of that works on a laptop at the kitchen table. 

And yet these aren’t aspects of working life that are much, if ever, cited by opponents of WFH. Yup, for these bosses, it’s always about productivity, which allegedly slumps like the shoulders of a college-leaver told to re-write their CV, when staff work from home. So companies as diverse as Amazon, Boots and JP Morgan are demanding that their workers work five-day weeks at the office again.  

Except, two things: One, that productivity point isn’t true. Professor Nicholas Bloom, an economist at Stanford University, has demonstrated empirically that a hybrid working model of three days at the office, plus two at home, is every bit as productive as fully office-based work overall. And, two, bosses may be shocked to learn that it’s their job to manage productivity, which is just as measurable at home as in the office. But then you don’t get to shout as much. 

And there I think is the real point. Bosses might not be shouty, but their motives for office work are more than suspect. They may be obsessed with control. They need to see their staff working for them for proof of productivity. They want to sit in a big glass-walled office watching them. And, perhaps most of all, if staff aren’t in the office then what’s the point of being a boss? It might bring their own productivity management and role into sharper focus. 

People who are privileged to manage their own time, or lack of it, in an office really shouldn’t be in the business of lecturing people who are not.

Furthermore, it’s been a long time, if ever, since some of those with the loudest voices calling for a return to the office have ever worked an ordinary job themselves. Lord Rose, formerly CEO of Marks & Spencer and chairman of Asda, told BBC’s Panorama that home working was part of the UK economy’s “general decline” (not true – see above). 

And Sir Jacob Rees-Mogg, formerly business secretary (remind me, how did that go?), continues in opposition to fight the bad fight to get civil servants as well as the private sector permanently back at the office. Hilariously, he most recently did so in a video from the drawing room of his mansion in Somerset. Though, to be fair, having lost his seat at the last general election and seeing his investment company sliding down the pan, he’s not so much working from home as just... at home.   

The serious point is that people who are privileged to manage their own time, or lack of it, in an office really shouldn’t be in the business of lecturing people who are not. They really don’t know – or have forgotten - what it is to have your life demanded of you from 9am-6pm from Monday to Friday in a location that is less than comfortable to work in. Is that so complicated to take aboard? 

And there’s another very big thing here. To demand office slaves is to commoditise people, to make them chattels (and, if some of these bosses were honest with themselves, that’s what they want). Staff become just another asset, not unlike the freehold of the office building in which you put them and watch as they make you money every day. 

To put it bluntly, that is a sin. To treat human beings as tradeable commodities is to debase their dignity. And for those of faith, that dignity is vested in each unique one of them bearing the image of God. As a good Catholic, Rees-Mogg should be familiar with the doctrine of Imago Dei.     

So there’s a holy, as well as secular, work-ethic at play here. The worker is worthy of his/her wage. That scriptural phrase usually focuses on the material value of the wage. But it’s also worth registering that the worker is “worthy”. 

To treat staff like they have an inherent worth, rather than simply a productive asset, has a value way beyond the money they are paid. And the dividends on that investment will be immense. Respect them. Let them work from home. 

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