The WeekLI

The WeekLI

HEADLINES

Our recent reports offer solutions for a thriving & prosperous financial sector post-Brexit.

The Financial Times reported on Victoria Hewson’s speech advocating open trade.

Ending Neglected Tropical Diseases could change the lives of one billion people.

ABOUT THE LEGATUM INSTITUTE

The word ‘legatum’ means ‘legacy’. At the Legatum Institute, we are focused on tackling the major challenges of our generation—and seizing the major opportunities—to ensure the legacy we pass on to the next generation is one of increasing prosperity and human flourishing.

Our work focuses on understanding, measuring, and explaining the journey from poverty to prosperity for individuals, communities, and nations.

In an ideal world the journey from poverty to prosperity would be one way: away from poverty and towards prosperity. In reality it is not. While poverty is not an inescapable trap, neither is prosperity an inevitable destination. Our pursuit of prosperity goes beyond the material. We believe that true prosperity is a combination of economic and social wellbeing.

Policy solutions have to match the scale of the problem. We believe that truly transformational policy-making comes from a solid foundation of measurable data covering both social and economic policy research areas in order to tackle the major challenges, and harness the major opportunities, of our generation.

Read more here 

LEGATUM REPORTS: FINANCIAL SERVICES

The future of Britain’s financial services will be one of the major negotiating points during the UK’s departure from the European Union. Our Special Trade Commission has recently produced two papers making recommendations for how to negotiate deals that will enable a thriving and prosperous financial sector post-Brexit.

In our Financial Services Briefing we provide a detailed sector-by-sector analysis of how UK financial services are currently regulated and what options are available for UK operators to access the EEA single market after the UK has left the EU. We have focused on the key structural financial services because they are the most significant to UK business in the financial sector and beyond.

Our second paper, produced in partnership with law firm CMS, sets out how coordination of financial services regulation between the UK and the EU after Brexit could work—to maintain cross-border financial services trade and improve competitiveness in the sector.

The paper aims to move away from binary and simplistic discussions (such as ‘passporting’ versus ‘equivalence’) and contribute to the development of a more informed consensus.  The partnership concept that the paper envisages would allow both sides to pursue their own regulatory priorities—such as facilitating a more competitive market—whilst remaining within parameters that enable them to trust each other’s prudential regulation and oversight and therefore allow financial services providers to do business on the basis of their home state licensing and supervision.

ARTICLE OF THE WEEK

The Financial Times and Daily Telegraph reported on a recent event at which Victoria Hewson, Senior Counsel to our Special Trade Commission spoke.

Victoria spoke about the importance of having an open trading agenda as the UK looks to establish free trade agreements following Brexit.

She went on to say that the British public tend to be in favour of free trade agreements which would help establish the UK’s position as a global trading partner.

THE END FUND: ENDING NEGLECTED TROPICAL DISEASES

Photo: ©Rake Films/The END Fund

In 2012, Legatum established the END Fund as an independent vehicle to bring together philanthropists and social investors to accomplish one big goal: ending Neglected Tropical Diseases (NTDs) in our lifetime.

These debilitating diseases affect one billion of the world’s most vulnerable and marginalised people, through chronic disability and morbidity. However, these diseases are both preventable and treatable.

Through its vision to see a more prosperous world for all and an unwavering belief that every life is of infinite value, Legatum was driven to not only treat these diseases, but to control and eliminate them all together and in turn, change the lives of more than a billion people.

The first programme in Burundi and Rwanda, countries that suffered extensively from NTDs, saw  9.7 million people treated in just four years. The results showed that it is possible to control and eliminate these diseases.

Following the success of this pilot programme, the END Fund was established and has seen outstanding results since.  By the end of 2016, The Fund had raised over $75 million and delivered over 330 million treatments to over 140 million people.

The next step on the journey is to see the END Fund work together with its partners to free a billion people from these diseases in the next ten years.

Read more about the END Fund

PROSPERITY INDEX: RWANDA

Rwanda is a country that has grown more prosperous over the past decade, with notable improvements in many areas that have marked the country’s recovery from the bloodshed of the early ‘90s to a more peaceful and stable nation.

Rwanda’s best performances in The Legatum Prosperity Index™ come in the categories of Business Environment and Governance. Their health sector performance also stands out in comparison with other Sub-Saharan African countries.

However, education remains a particularly weak sector where the country should focus its reforms.

Having successfully completed its transition to a post-conflict country, Rwanda is now one of the best performing nations on the African continent.

Read more here

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