EDITION 1117
20 APRIL 2026

On this day in 1972, Apollo 16 landed on the Moon - another giant step in a decade defined by ambition, preparation, and execution. A reminder that even in uncertain times, progress belongs to those who are ready for it.

Preparation - and what sits beneath the surface - is a theme that runs through much of this week’s edition.

Last week, we asked whether global democracy is improving. Just 7% said yes, while 40% said no. A further 13% believe it is stabilising rather than improving, with 20% unsure and another 20% opting for “other”.

The message is clear: confidence is low, and certainty even lower.

This week, a question shaped by 30 years in the Royal Navy: what matters most for national defence? Presence, readiness, capability, or people?

From the Strait of Hormuz to the state of our own Armed Forces, from clarity in decision-making to the unintended consequences of policy, this week’s edition explores a simple idea:

What you see matters. But what you don’t see determines the outcome.

With that in mind, here are ten things you didn’t know last week. As ever, feel free to share it on social media or forward it to colleagues and friends who might appreciate a sharper take on leadership and life.

William Montgomery
Editor

1. How to find clarity when emotions are high. When emotions run high - whether in love, leadership, or life - we’re tempted to make decisions based on how we feel in the moment. It’s human. But feelings are fluid. They rise, fall, and often mislead. Clarity, by contrast, is stable. It comes from understanding what you truly value, what matters most, and what kind of life or outcome you’re actually trying to build. Without it, decisions drift. With it, they endure. The challenge is simple: slow down enough to think clearly before you act emotionally. READ MORE

2. Open or closed? Tehran says the Strait of Hormuz is closed. Washington insists it remains open. In reality, it’s neither fully shut nor truly open - it’s contested. Iran has declared control of the strait, warning ships away and, in some cases, firing on vessels. The U.S. and allies maintain naval presence to keep lanes open. Some tankers are passing. Many are turning back. The result: uncertainty, not stoppage. Oil markets reflect this. Prices are volatile rather than spiking - because supply is disrupted by risk, not completely cut off. Around 20% of global oil flows through Hormuz. That makes perception as powerful as reality. Leadership lesson: ambiguity is its own form of risk. When no one controls the narrative, everyone pays the price.

3. The second-order effects. The International Monetary Fund has downgraded growth forecasts for major economies, citing the impact of the Iran conflict. The UK faces one of the sharpest revisions, with growth cut from 1.3% to 0.8%. The message is clear: wars don’t just reshape borders - they ripple through energy markets, supply chains, and ultimately economic growth. For now, global growth is expected to hold at just over 3% - but only if the conflict remains contained. A prolonged escalation raises the risk of something far more serious: a global recession. The immediate story is conflict. The real story is what follows. Leadership lesson: first-order effects are visible. Second-order effects are where the real damage - and opportunity - lies.

4. Process is protection. Keir Starmer has removed a senior official amid a growing row over Peter Mandelson’s proposed diplomatic appointment. Reports suggest concerns were raised during the process, fuelling questions about whether proper procedures were followed. The political reaction has been swift, with critics accusing the government of bypassing safeguards and undermining trust. The details will play out. But the principle is clear. Processes exist for a reason: not to slow decisions down, but to protect their legitimacy. Once confidence in them is lost, every decision becomes open to challenge. Leadership lesson: if you override the process, don’t be surprised when the outcome is questioned.

5. You can’t surge credibility. After 30 years in the Royal Navy, one lesson stands out: credibility comes from presence. Presence comes from readiness. Both take time. The UK’s planned increase in defence spending falls short of what many argue is required, with capability reduced significantly over recent decades. Ships, people, and depth have all declined. But the bigger issue isn’t what you can see. It’s what you can’t: logistics, training, and sustainment. Because in defence - as in leadership - capability without readiness is theatre. Both take time. And both are hard to rebuild once lost. Leadership lesson: you can’t build credibility in a crisis. You either have it - or you don’t. Which matters most for national defence? Please share your views in our latest poll. VOTE HERE

6. When incentives backfire. The UK’s £100k “tax trap” is affecting a growing number of professionals. Earnings between £100,000 and £125,140 effectively face a 60% tax rate as the personal allowance is withdrawn - rising to over 70% for some once student loans and childcare losses are included. The result? Distorted behaviour. Four in five people in this bracket are actively limiting their income to avoid crossing the threshold. In some cases, earning more means taking home less. It’s a system where rates rise - and then fall - as income increases. Leadership lesson: people respond to incentives. Get them wrong, and you don’t just reduce performance - you reshape behaviour.

7. Back to basics. Sweden is reversing course on classroom technology, pushing schools back towards books, paper and pens to tackle falling literacy and poor concentration. The government has backed the shift with funding for textbooks and mobile phone bans. The UK isn’t going as far - but the direction of travel is similar. Schools are tightening rules on phones and re-emphasising core skills, even as policymakers push ahead with AI and digital learning. It’s a tension many leaders will recognise: innovation versus fundamentals. Get the balance wrong, and you risk losing both. Leadership lesson: progress isn’t always about adding more. Sometimes it’s about returning to what works.

8. Quiet confidence. St George’s Day falls this week, with celebrations of Englishness taking place across the country. It’s a moment worth pausing for. Being English doesn’t need to be loud to be meaningful. It lives in values as much as symbols: fairness, resilience, humour in adversity, and a quiet respect for institutions that endure. I saw that first-hand over 30 years in the Royal Navy, serving under the White Ensign - an English symbol carried in the service of the United Kingdom. That balance matters. To be English is not to stand apart, but to contribute to something larger - shared history, collective security, and a broader identity that has shaped the world. Leadership lesson: the strongest identities are those confident enough to belong to something bigger.

9. When relationships become strategy. A new online trend - the “femosphere” - encourages women to approach dating with more calculation and less emotion. It mirrors the “manosphere”: different audiences, same idea - protect yourself, maximise your position. At first glance, it looks like empowerment. In reality, it often creates distance. Because the more strategic we become, the less authentic we are. And without authenticity, it’s hard to build anything real. Relationships aren’t won. They’re built. And they don’t thrive on advantage - they thrive on trust.When everything becomes strategy, real connection becomes impossible. Leadership lesson: if you approach relationships as a game, don’t be surprised when no one feels safe enough to engage.

10. The bottom line. The state of local roads tops the list of what matters most to Britons, according to a YouGov survey of 2,104 adults. More than a third (37%) cite potholes, parking and congestion as key concerns - ahead of the economy and cost of living (35%) and even health services (29%). It’s a useful reminder: what affects people daily often matters more than what dominates headlines. Leadership lesson: don’t overlook the basics. Trust is built not on grand promises, but on the small things people experience every day.