I agree with the torch, whistle, wallet, phone. I do value having a screwdriver, though. In my view it is important to have a knife, but not important to have a big knife, and the blade of a small swiss army knife is enough for nearly all my urban day to day needs. I carry a Vic Rambler because it has flat and philips screwdriver, scissors and blade, nail file, tweezers and toothpick, bottle opener and magnet, all in a tiny package. I am far more likely to need one of those than I am a big blade.
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Quality is addictive.