Yes, retail investment needs a boost – but the squirrel looks too tame | Nils Pratley

Ambition behind investing campaign is laudable, yet cutting stamp duty on share purchases, for example, would be much more savvy City firms bank on ‘savvy’ ad campaign to push Brits towards investing Red squirrel characters have a history in the public information game. Older UK readers may recall Tufty, who taught children about road safety in the 1970s. His chum, Willy Weasel, regularly got knocked down by passing cars but clever Tufty always remembered to look both ways. Now comes Savvy Squirrel, who, with backing from the chancellor and a multi-year lump of advertising spend from the financial services industry, will try “to drive a step-change in how investing is understood, discussed and adopted”, as the blurb puts it. In translation: don’t squirrel everything away in a boring cash Isa but try taking an investment risk or two if you value your long-term financial health. As with preventing road traffic accidents, the cause is noble. Every study on long-term financial returns reaches the same conclusion: inflation is the investor’s enemy and there is a cost to holding cash for long periods. One statistical bible is the Equity Gilt Study published by Barclays, and a