As we come to the end of what has been a particularly brutal year in world events, it is worth reminding ourselves that good things happen too. Here’s a small sample from 2023.

• More homes than ever are switching to green energy – according to the Guardian, a record number of solar panels and heat pumps were installed in the UK in 2023. As well as helping consumers cope with higher energy costs, this is far less harmful for the environment than generating heat & electricity from fossil fuels.
• The ozone layer is showing signs of recovery – in the 1980s, a large hole in the earth’s ozone layer was discovered, leading to concerns about increased exposure to skin cancer and crop damage from increased ultra-violet radiation. The chemicals doing the most harm were banned in 1987, but this year a UN panel of experts announced that the hole is on track to close in about 40 years.
• New drug to combat cancer – the NHS in England has approved a drug that has proved effective against a form of breast cancer. This is the first ever drug against an inherited genetic fault. Originally, the NHS baulked at the price (over £2,000 per one pack of tablets) but after manufacturers Astra-Zeneca agreed a discount, it has been approved to be supplied via normal prescriptions.
• Everybody loves a furry animal – since beavers were reintroduced to the UK in 2002 after being hunted to extinction over 400 years ago, beavers are thriving in Scotland and the West Country. Although the state of our rivers through pollution and sewage dumping has been high on the media agenda this year, clearly the return of large mammals to our waterways can only be a sign of progress.

Oh, and the US Federal Reserve has held interest rates again this month, and signalled that they foresee making three interest rate reductions in 2024, if inflation continues to fall. Equity markets have responded positively, as they have been doing in recent weeks. Not, of course, that any of this is guaranteed, but the signs are hopeful.

Having said all that, given what’s going on Ukraine and Gaza, not to mention ongoing conflicts in Syria, Yemen, and coups in various parts of Africa, let’s hope and pray for an outbreak of peace in 2024 and beyond.

On a personal note, I intend to take an extended break next year, to do some sailing, travelling, writing and volunteering. Both of my parents had health scares this year, a very direct reminder that the most valuable thing any of us have is time, closely matched by our health. By now, every client that I look after will have met the financial planner who will be looking after you in my absence, so you will be in very good hands.

As usual, rather than sending Christmas cards, we plan to send the money we would have spent on that to a couple of charities.

Every year, we support the RNLI, and will do so again this year. The work they do is well known, and relevant to me, and to many of our clients who have boats and yachts of their own, or make their living from the sea, one way or another. One of Navigator’s clients even had a boat make an involuntary appearance on Saving Lives at Sea, the BBC documentary on the work of the RNLI!

In addition, this year, we propose to support Hourglass, a charity that aims to end the harm, abuse and exploitation of older people in the UK. They deal with all sorts of bad behaviour against the elderly, but I have been particularly struck by some of the stories of financial abuse that Hourglass have helped with.

It remains only for me to thank you for your continued interest and support. I wish you and your loved ones all the very best for a peaceful Christmas and a very happy and successful 2024.