The real scandal about Hackgate: the amount of attention it’s getting

With so much media attention focusing on the News of the World phone hacking scandal, the public isn't being informed on what is really important: the UK's rising debt.

Last week, Alistair Heath wrote a great piece on the deficit and the debt. He was quite rightly horrified by the fact that the public have "no idea whatsoever" about the real state of the UK's finances.

Only 9% of them understand that the cutting of the national deficit over the next four years means that the national debt will keep rising, just by slightly less than it might have otherwise. 21% think the debt will stay the same over the sameterm and a deeply depressing number 70% - have missed the point entirely and think that the "cuts" introduced this year will reduce the national debt.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.