Jacob Rees Mogg

Do people really not understand that the people who suffer during a recession are not those with money who are able to offset their interests and invest in other things, and who actually profit from recessions . It's the ordinary working person who finds their job disappears and they can't afford their home any longer. Not the likes of JRM

Apparently no ,they don't understand and/or care.

You're right, Jalima. I expect his money is squirrelled away in some cosy tax haven somewhere...

Mostlyharmless

Is it just Tory MP's like Rees Mogg you have an obvious problem with when it comes to MP's having outside interests and financial remuneration besides their MP's wages.?

Or are you concerned with MP's from ALL parties who have outside interests and financial remuneration besides the MP's wages?

You're right, Jalima. I expect his money is squirrelled away in some cosy tax haven somewhere...
ooh er Maizie I thought he would be very 'proper' about doing the right thing and paying his tax.

POGS, no, it's just the Tory ones. Multi-millionaire Labour MPs with outside interests are exempt from criticism.

‘Rees-Mogg, the Conservative backbencher reportedly considering a leadership bid, is thought to have been been paid at least £4m from an investment firm during his seven years in parliament, making him one of the highest-earning politicians in the country.” www.independent.co.uk/news/uk/politics/jacob-rees-mogg-conservative-mp-north-east-somerset-capital-management-investment-firm-belgravia-a7902951.html

JRM holds at least 15% of the shares in Somerset Capital Management. So he definitely has a strong financial investment in the company.
“Shareholdings: over 15% of issued share capital
Saliston Ltd; holding company
Somerset Capital Management LLP; investment management” from the MPs register of interests.

But I’m sure he always has the best interests of his constituents and of the country at heart! ?

I don't care which party they belong to. There are loads of them raking it in, while the country bleeds to death.

Jalima ?
Shhhhh, you mustn’t mention Labour MP’s having much money! God forbid they have shares in anything either.

The country is not ‘bleeding to death’ oldbatty although the rhetoric is suitable for Hallowe’en I suppose.

As a founder and major shareholder in the company, he is obviously involved in the decision making process. (Although I’m sure he employs investment managers to do the actual work.)

Jacob Rees-Mogg is in line for a huge personal windfall when Britain exits the single market
Jack Peat
February 7, 2018
The political motives for an exit from the single market were laid bare today after it was revealed that a prominent Brexiteer is also a major shareholder of an emerging markets investment firm.

Jacob Rees-Mogg is a long-term backer of investment management firm Somerset Capital, which has “9.6 billion dollars” under management according to its website.

The Leading Brexiteer recently ridiculed the idea of the UK staying in the single market and customs union after Brexit, joining other Eurosceptics calling for a “clean” separation with the EU so the UK has the freedom to strike new trade deals.

Moves to create barriers to trade with the EU would force UK companies to strike up deals elsewhere, directly profiting companies backing the emerging markets.
www.thelondoneconomic.com/news/jacob-rees-mogg-line-huge-personal-windfall-britain-exits-single-market/07/02/

So tell me lemon, do you see any examples of poverty in your neck of the woods?

You are on the right lines, oldbatty

Very interesting article here about the books that JRM's father, William R-M wrote and their possible influence on his son:

alastaircampbell.org/2018/08/the-book-that-helps-you-better-understand-brexit-and-rees-mogg-part-2/

... the basic point, from an era before the word Brexit even existed, was that information technology was going to deliver the most sweeping and fastest revolution in history; that traditional institutions such as the nation-state would become obsolete, democracy itself would be called into question; and a kind of economic super-race (my phrase not his) would emerge amid the ‘commercialisation of sovereignty’, and for those of wealth a ‘Bermuda in the sky with diamonds’ (his phrases not mine) would become available to exploit, freed from the ‘predatory’ instincts of politicians who want to tax to pay for things like schools and hospitals, perish the thought. The title of the book is The Sovereign Individual. Fair to say Rees-Mogg assumed his hugely wealthy son would be one of them.

As a father of three, I know that it is wrong to assume children all adopt the views and manner of their parents. But equally it is right to assume there will be some crossover. I am sure that Rees-Mogg Jr broadly agrees with his father’s assertion that ‘the destruction of tradition has been a disaster to the moral order of the world.’ I can almost hear his voice, standing on the steps of Number 10 with a Daily Express petition calling for cuts in overseas aid, and echoing his father’s writing: ‘We believe that foreign aid and international development programmes have had the perverse effect of lowering the real incomes of poor people in poor countries by subsidising incompetent governments.’

We know too that he is likely to appreciate and agree with the many references to the importance of religion along the way, the belief in ‘dynamic morality,’ the complaint that ‘a high proportion of people in the growing cognitive elite have been given little religious or moral education in the family.’ Though whether Jacob’s sixth son, Sixtus Dominic Boniface Christopher, will appreciate learning from Grandpapa that the Pope after whom he was named caught syphilis from one of his mistresses and licensed prostitutes so he could tax their earnings is another matter. (Ha ha!)

Ah dear Alistair Campbell at his usual sneering self.

Funny how Blair and Campbell as the architects of the 'Dogdgy Dossiers' and Iraq War had not a good word said of them at one time yet now they are part of the cabal of ' protectors' of the the UK since the Referendum and deemed as oracles . There is a distinct whiff of hypocrisy by those who proudly say they marched against them over Iraq but fast forward to the referendum see them as saints.

When he says :-

" As a father of three, I know that it is wrong to assume children all adopt the views and manner of their parents. But equally it is right to assume there will be some crossover ."

Then I think he should look in the mirror before casting his bile at another father .

As for another comment :-

" We believe that foreign aid and international development programmes have had the perverse effect of lowering the real incomes of poor people in poor countries by subsidising incompetent governments.’ "

I think there has been many a debate that shows there is some merit in querying subsidising incompetent governments and dictators .

Do you think Campbell is particularly principled in his business dealings?

As for the bigotry that Campbell and some are so fond of displaying against the likes of Jacob Rees Mogg and the Catholic Religion did he not once say as Blair's Spin Doctor " We don't do God".

He may not ' Do God ' , some posters may not ' Do God' , anybody may not ' Do God' but surely it is totally illiberal to think we should all ' Not Do God' just because somebody is a
religious bigot.

I have always admired Alistair Cambell for his work campaigning for more support and understanding for mental health, that article sickened me , even for an atheist he went too far mocking a child’s name. Yes Labour certainly has become the nasty party

It says a lot about those who say it and those who find it amusing I guess.

There is nothing amusing in bringing a politician’s child in to attack the child’s father .

which brings us back to the OP anniebach
they don't really seem like ordinary folk, do they

I still don't know what the definition of ordinary folk is as human beings are so diverse.

Well spotted re the wording of the OP and subsequent posts.

Funny how Blair and Campbell as the architects of the 'Dodgy Dossiers' and Iraq War had not a good word said of them at one time yet now they are part of the cabal of ' protectors' of the the UK since the Referendum and deemed as oracles . There is a distinct whiff of hypocrisy by those who proudly say they marched against them over Iraq but fast forward to the referendum see them as saints.
Amazing isn't it POGS!

Dodgy Dossier Pro-War Campbell who apparently now has a shining halo. Oh, sorry, not a halo, he doesn't Do God.

The Brexitiers on the forum seem to offer no explanation of why Jacob Rees Mogg does not sever his commercial relationship with Somerset Asset Management.

This company has diagonally opposed views to Rees Mogg on the situation Britain will face following Brexit. Therefore to a person of such supposedly high principle as JRM, being involved commercially with such an organisation surely is totally unacceptable.

Therefore, I ask again, why Brexiteers on this forum do not explain why Jacob Rees Mogg does not relinquish his holding in Somerset Asset Management in line with his high base principles and as a show of confidence in his view that Britain has a "golden future" outside of the European Union.

Could it be that with him money is more important than principal, which would make him no better most of the Tories in this parliament.

The above is in all probability the correct answer I feel.

principals ? The Labour Party use to have principles, lost them three years ago.

As I have posted previously on this thread, those on gransnett and in the big wide free world that have savings of any amount, whether it be £10, £100 £1,000 or more will all look for the best return/interest on our money. That is not a crime.

Sorry I should add that I have always voted Comservative, and after a lot of soul searching and research voted to leave.

GrannyGravy13, in response to your post @ 09:07 today (30/10/18) I would agree that many people have investments and ownership holdings in companies. However, Jacob Rees-Mogg has put himself forward as an ambitious high profile politician, a person of high principal as well as being a leading Brexitier.

Therefore, in the above, I believe the people of Britain have a right to expect Jacob Rees Mogg to "very much practice what he preaches" as a person leading the brexit campaign and someone who obviously has political ambition for very high office.

However, in not severing his ties with Somerset Asset Management he obviously places his own wealth in front of statements he has made to the people of Britain in regard to his own integrity and made questionable his belief that the United Kingdom has a "golden future" outside of the European Union

However, in not severing his ties with Somerset Asset Management he obviously places his own wealth in front of statements he has made to the people of Britain in regard to his own integrity and made questionable his belief that the United Kingdom has a "golden future" outside of the European Union

Somerset Asset Management does not exist.

Somerset Capital Management will continue to invest in the UK. Only one new fund, making two in total, I believe, is moving to Dublin.

Investing on behalf of clients in EU companies does not mean a loss of confidence in UK companies as SCM will continue to invest in the UK.

However, if you do not understand how investment companies work, Grandad, no amount of explaining from Baggs, me and others will help you to do so.

Anyone who has more than a state pension to rely on may not know where their funds are invested unless they have a SIPPS.

Jalima1108, I do not need any explanation of investment as I have several that I personally handle outside of any investment fund. Therefore I believe it is yourself that does not understand the value and obligation of Principal when stated by public figures

Below is a relevant section of an article printed in The Guardian outlining the advice that Somerset Capital Management are handing out to their current investors. This is the investment company that Jacob Rees-Mogg is co-owner of and therefore he cannot disown any advice they hand out.

Guardian report begins here:-
A City firm co-founded by the influential Conservative backbencher, Jacob Rees-Mogg, has set up an investment fund in Ireland and is warning prospective clients about the financial dangers of the sort of hard Brexit favoured by the Tory MP.

London-based Somerset Capital Management (SCM) described Brexit as a risk in a prospectus to a new fund it launched in March, which has been marketed to international investors who want to keep their money in the EU long-term.

For report can be accessed here:-
www.theguardian.com/politics/2018/jun/14/brexit-warning-investment-firm-somerset-capital-management-jacob-rees-mogg. Report Ends

Jacob Rees Mogg man of great principle. One statement to his wealthy investors another to the most gullible of brexitiers.

What a joke this man is.