Chief Rabbi on Israel, anti-Semitism and... Steve Jobs

"It was a joke. Maybe it wasn't a very good joke."

This week's issue of the New Statesman (on the newsstands from tomorrow and available here) features an interview with Jonathan Sacks, Chief Rabbi of the United Hebrew Congregations of the Commonwealth. We covered a range of topics (some that made it into the final cut and some that didn't) including the Occupy movement, the impact of the internet, the Israeli/Palestinian peace process and anti-Semitism. Here's brief taste:


Asked how the Israeli /Palestinian problem should be resolved, Sacks says:

A two-state solution. [Religious leaders] can shape an environment conducive to peace and we certainly have a role to play in protecting each other's access to holy places, but beyond that, politics should be left to politicians.

A leading Palestinian negotiator said Israeli settlement-building and a two-state solution are "mutually exclusive". Do you agree?
All I know, having spoken first to Tony Blair, then to Dennis Ross, then to Bill Clinton himself, is that the talks that Clinton convened at Camp David in 2000 and early 2001 came very, very close to agreement. At the end, many of the Palestinian delegation wanted to accept Ehud Barak's proposed offer. So I have never despaired of a two-state solution.



In his 2009 book Future Tense: a Vision for Jews and Judaism, Sacks described anti-Zionism as a "mutant form" of anti-Semitism. Asked to expand on that view, he says:

Anti-Semitism always mutates because the immune system of the body politics develops an immunity. So a virus must mutate. The new anti-Semitism takes the form of focusing on Jews as a nation rather than Jews as individuals, focuses on Israel rather than Diaspora communities and focuses on the language of human rights rather than the language of race or, in the Middle Ages, on the language of theology.

In the book you appear to imply that the virus of anti-Semitism has penetrated the United Nations . . .
In terms of the condemnation of Israel by the Security Council, Israel has been condemned out of all proportions to all other states put together. That's a documented phenomenon.


That Steve Jobs quote

Over the weekend, Sacks was quoted in a number of papers including the Daily Telegraph and the Daily Mail saying: "The consumer society was laid down by the late Steve Jobs coming down the mountain with two tablets, iPad one and iPad two, and the result is that we now have a culture of iPod, iPhone, iTunes, i, i, i ... When you're an individualist, egocentric culture and you only care about 'i', you don't do terribly well."

But Sacks says now that his words were misinterpreted and that he thinks that Jobs is a "genius":

It was a joke! I said 'iPad, iPhone, i, i, i...' Maybe it wasn't a very good joke

On the impact of the web more generally, Sacks said that while the "good vastly outweighs the bad":

the internet through email lists and blogs is, unfortunately, the best disseminator of paranoia we have yet created, and it does tend to segregate people into sects of the like-minded.



Jon Bernstein, former deputy editor of New Statesman, is a digital strategist and editor. He tweets @Jon_Bernstein. 

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Stability is essential to solve the pension problem

The new chancellor must ensure we have a period of stability for pension policymaking in order for everyone to acclimatise to a new era of personal responsibility in retirement, says 

There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company final salary pension, often a fairly generous figure, which also paid out to a spouse or partner on death.

That normality simply doesn’t exist for most people in 2016. There is much less certainty on what retirement looks like. The genesis of these experiences also starts much earlier. As final salary schemes fall out of favour, the UK is reaching a tipping point where savings in ‘defined contribution’ pension schemes become the most prevalent form of traditional retirement saving.

Saving for a ‘pension’ can mean a multitude of different things and the way your savings are organised can make a big difference to whether or not you are able to do what you planned in your later life – and also how your money is treated once you die.

George Osborne established a place for himself in the canon of personal savings policy through the introduction of ‘freedom and choice’ in pensions in 2015. This changed the rules dramatically, and gave pension income a level of public interest it had never seen before. Effectively the policymakers changed the rules, left the ring and took the ropes with them as we entered a new era of personal responsibility in retirement.

But what difference has that made? Have people changed their plans as a result, and what does 'normal' for retirement income look like now?

Old Mutual Wealth has just released. with YouGov, its third detailed survey of how people in the UK are planning their income needs in retirement. What is becoming clear is that 'normal' looks nothing like it did before. People have adjusted and are operating according to a new normal.

In the new normal, people are reliant on multiple sources of income in retirement, including actively using their home, as more people anticipate downsizing to provide some income. 24 per cent of future retirees have said they would consider releasing value from their home in one way or another.

In the new normal, working beyond your state pension age is no longer seen as drudgery. With increasing longevity, the appeal of keeping busy with work has grown. Almost one-third of future retirees are expecting work to provide some of their income in retirement, with just under half suggesting one of the reasons for doing so would be to maintain social interaction.

The new normal means less binary decision-making. Each choice an individual makes along the way becomes critical, and the answers themselves are less obvious. How do you best invest your savings? Where is the best place for a rainy day fund? How do you want to take income in the future and what happens to your assets when you die?

 An abundance of choices to provide answers to the above questions is good, but too much choice can paralyse decision-making. The new normal requires a plan earlier in life.

All the while, policymakers have continued to give people plenty of things to think about. In the past 12 months alone, the previous chancellor deliberated over whether – and how – to cut pension tax relief for higher earners. The ‘pensions-ISA’ system was mooted as the culmination of a project to hand savers complete control over their retirement savings, while also providing a welcome boost to Treasury coffers in the short term.

During her time as pensions minister, Baroness Altmann voiced her support for the current system of taxing pension income, rather than contributions, indicating a split between the DWP and HM Treasury on the matter. Baroness Altmann’s replacement at the DWP is Richard Harrington. It remains to be seen how much influence he will have and on what side of the camp he sits regarding taxing pensions.

Meanwhile, Philip Hammond has entered the Treasury while our new Prime Minister calls for greater unity. Following a tumultuous time for pensions, a change in tone towards greater unity and cross-department collaboration would be very welcome.

In order for everyone to acclimatise properly to the new normal, the new chancellor should commit to a return to a longer-term, strategic approach to pensions policymaking, enabling all parties, from regulators and providers to customers, to make decisions with confidence that the landscape will not continue to shift as fundamentally as it has in recent times.

Steven Levin is CEO of investment platforms at Old Mutual Wealth.

To view all of Old Mutual Wealth’s retirement reports, visit: products-and-investments/ pensions/pensions2015/