TOP STORIES
CARTOONS
MAGIC MONEY TREE
POSH GRAMMAR
OSBORNE KERCHING!!
PROMISES PROMISES
SOUTHERN FAIL
DUMB POLLSTERS
DON'T BLAME TRUMP!
£13bn APPLE TAX DODGE
SAFE SEATS = BREXIT?
UKIP v LABOUR
ALL OUT OF IT TOGETHER
EU IMMIGRATION
TORY v TORY
PRISON SUICIDES
LONDON LEAVES UK!
EU v TORY MANDATE
HMRC IS A TAX HAVEN
PANAMA TAX LEAK
IDS v IDS
RICH v POOR
POSH BOYS
HELP2BUY PROFITEERS
LLOYDS, RBS CEO PAY
HSBC DRUG MONEY
PM'S MUM FIGHTS CUTS
PEAK "STUFF" IS HERE
HMRC GOOGLY
PENSION TAX RAID

Friday, 5 June 2015

Friday, June 05, 2015 Posted by Hari No comments Labels: , , , , , , ,
Fee and KJ find a way to make it work for all of us...

SOURCE DAILY MAIL: David Cameron has dropped plans to block 10% (£7,000) rise in MPs' salaries
The Prime Minister described the plan as ‘totally unacceptable’ when it was first put forward in 2013 by Ipsa. But government sources said yesterday that he had now abandoned plans to block the increase. Prime Minister's u-turn comes in the wake of protests from backbenchers. The decision means MPs will now almost certainly see their salaries rise by £7,000 to £74,000 a year following a final review by the Independent Parliamentary Standards Authority. The pay rise, expected in the autumn, will be backdated to the General Election. However, Mr Cameron imposed another five-year freeze on ministerial pay. The move means ministers will continue to receive £134,565 and the Prime Minister £142,500. Many Ministers and MPs have previously argued that it is almost impossible for them to support their families and keep separate homes in London and their constituency on the current money – but realise that it is politically toxic to say so publicly. One of the few prepared to speak out, senior Conservative MP Charles Walker, warned on Saturday night that continued pay freezes were driving talent away from the Commons. He said: 'We cannot have a monocultural Parliament that over time excludes professional middle-class people – it will only be political anoraks and the well-off... That will be a really bad day for democracy.'

Thursday, 4 June 2015

Thursday, June 04, 2015 Posted by Hari No comments Labels:
Child benefit STAYS while I'm PM: Cameron slaps down Iain Duncan Smith plan to limit hand-out to two children
Number 10 said the Prime Minister would stick to his pre-election pledge to protect the child benefit entitlement for the next five years. Welfare Minister Duncan Smith’s proposals had included limiting payments to the first two children, as well as cutting benefit for the first child from £20.70 a week to £13.70, the amount paid for subsequent children. These measures have the potential to save more than £3.5billion from the welfare bill, reducing the need for deep cuts in other areas such as disability benefits and working tax credits. Cameron’s previous coalition government axed child benefit for wealthier parents as one of its first austerity measures. The latest ruling is a blow to Mr Duncan Smith, who argues he is forced to make deep cuts with one hand tied behind his back. Mr Cameron has already ruled out reducing pensions or cutting the winter fuel allowance and free TV licences for wealthier pensioners. These account for £95billion of the £220billion welfare budget, leaving Mr Duncan Smith to find cuts of around 10 per cent from the £125billion spent on working age benefits. This means the focus will now turn to areas such as tax credits, housing benefit and disability allowance. Ministers have already agreed a two-year benefit freeze in order to save £1.5billion, including a freeze in child benefit payments. DAILY MAIL

Private nursing "temp" agencies are charging the NHS billions and bleeding it dry
Official figures show that NHS spending on temporary workers has reached a record £3.3 billion high, and “catastrophic” levels of debt are being blamed on last year’s rise in agency bills. NHS reports last month revealed an £822 million deficit across the health service, blamed entirely on spiralling agency spending. Simon Stevens, the NHS England chief executive, has promised to tackle the high cost of agency spending. He said: “We will have to clamp down on some of these staffing agencies, who are frankly ripping off the NHS.” Analysis of the accounts of 10 of the biggest agencies profiting from the NHS show that their collective turnover rose 39 per cent between 2010 and 2013, to £1.93 billion. Overall, companies involved in sourcing short-term doctors and nurses for the NHS posted revenues of £7.7 billion between 2009 and 2013, with recorded profits amounting to £84.5 million. Hospitals blame their reliance on temporary staff on a lack of qualified nurses. Many have tried to employ more nurses in the wake of the Mid Staffs scandal, but struggled to find permanent workers, causing the agency bill to spiral. Critics say the problem has been caused by underinvestment in training, a lack of any effective cap on the rates that agencies charge and a failure to recruit enough staff. TELEGRAPH

A third of 'underperforming' bosses still get bonuses worth tens of thousands
The Chartered Management Institute's National Salary Survey found that the average bonus for under-performing company directors was £45,000. The average bonus for below-par senior managers was almost £9,000. The research looked into the pay of 70,000 managers. CMI chief executive Ann Francke said: "Too many managers are reaping the rich rewards of their positions despite being poor performers... Unfortunately, it seems to be a lot easier to reward poor performance than to face the awkwardness of having difficult conversations with underperforming staff." Ms Francke explained that bonuses may now be considered a part of normal pay, rather than a reward for hard work. BBC NEWS

Energy Secretary warns 'Big Six' providers they MUST pass on 20% fall in gas and electricity costs
Before the election the firms insisted they could not make large cuts in case a Labour government crippled them with a price freeze. Despite the Tory victory removing this risk, the ‘Big Six’ suppliers are still refusing to slash bills. Analysts say there is scope to ease the burden on families by more than £100 a year. Yet just last week SSE, the UK’s second biggest supplier, reported a 50 per cent rise in profits to £369million. Similarly bumper results are expected from British Gas, Npower, EDF, E.on and Scottish Power. Suppliers did offer reductions a few weeks ago but these were well short of the fall in wholesale costs and came after the end of winter, when consumption drops. The industry regulator, Ofgem, estimates that the average profit margin made by the big suppliers has soared 32 per cent over the past year, to an average £120 per household. Regulators are already investigating allegations of profiteering. DAILY MAIL

Tuesday, 2 June 2015

Tuesday, June 02, 2015 Posted by Hari No comments Labels: , , , , , ,


ELECTORAL REFORM SOCIETY: If You Felt Like Your Vote Didn't Count for Much on 7 May, You're Not on Your Own
50% of all votes in the election (15million) went to losing candidates, while 74% of votes (22million) were 'wasted' - i.e. they didn't contribute to electing the winning MP. At the same time, 331 of our 650 MPs were elected on under 50% of the vote, and 191 with less than 30% of the electorate. An estimated 2.8million people voted 'tactically' this election for candidates they didn't fully support - nearly a tenth of all voters. Much of this 'lesser evil' approach comes from the fact that in some constituencies there are only one or two candidates who realistically stand a chance of winning. Many of these are 'safe seats'. The ERS was able to call the winner correctly in 363 of 368 seats - a month before polling day - due to the prevalence of these under First Past the Post. Now, we're no Mystic Megs - we just know the system is bust. The problem goes deeper than these statistics, though. First Past the Post is artificially exaggerating divides in the UK - giving the SNP nearly all Scottish seats on half of Scottish votes, while virtually excluding Labour from the South of England. Equally, Labour are over-represented in Wales, while the Conservatives are under-represented in the North of England and Scotland. It's a mess. The situation is just as bad in Northern Ireland. Cross-community parties there got a tenth of the vote on 7 May - but no seats. Yet the Democratic Unionist Party (DUP) received nearly half the seats on just a quarter of the vote.

Sunday, 31 May 2015

Sunday, May 31, 2015 Posted by Jake 7 comments Labels: , , , , ,

In December 2013 the Independent Parliamentary Standards Authority (IPSA) gave MPs a pay rise to £74,000 per year starting from immediately after the May 2015 General Election. (The payrise will come into force in the autumn, but will be backdated to the General Election). We say "gave" and not "recommended" because ministers say they don't have the power to overrule IPSA and reject the extra cash. They said it would make a nonsense of IPSA's independence. Though they didn't think the same when they overruled another independent pay review recommending a 1% rise for NHS staff.

All the main party leaders, Tory; Labour; SNP; LibDem, stated that the bumper payrise for MPs planned for 2015 was "totally unacceptable".

The Telegraph newspaper wrote to all 650 MPs to ask whether they would accept the payrise, and published their responses or that they remained silent. The Telegraph reported that:
"One in ten MPs has announced they plan to reject an 11 per cent pay rise but the vast majority have refused to say if they will accept it".

Then, less than 3 weeks after the May 2015 general election, the Daily Mail reported:
"Prime Minister will not block 10% rise for MPs: U-turn by Cameron after backbench protests...The decision means MPs will now almost certainly see their salaries rise by £7,000 to £74,000 a year following a final review by the Independent Parliamentary Standards Authority. The pay rise, expected in the autumn, will be backdated to the General Election."

You can understand MPs postponing pocketing an extra few grand until after the election. Something they'd rather you don't remember as you go to the polling station. In case you might forget, here is a list of a few more things our politicians decided they'd rather leave until after we had finished voting. Did the Tories think a Labour government, should it have been elected, would do a better job? Probably not: 

MPs fury as HBOS bank report delayed until after the election
MPs have hit out after it emerged that the publication of a report into the collapse of Halifax Bank of Scotland has been delayed until after the General Election. Insiders expect the findings will not now be unveiled until at least the autumn. Almost seven years have passed since HBOS required a multi-billion pound taxpayer-funded bail out at the height of the financial crisis. HERALD SCOTLAND

Chilcot report on Iraq war delayed until after general election
The six-year-long British inquiry into the 2003 Iraq invasion and its aftermath will not be published before the general election, prompting an outcry from those demanding that the long overdue reckoning should be put before the voters. GUARDIAN

Andy Coulson perjury trial delayed until after general election
The trial of Andy Coulson, the former News of the World editor who is facing a perjury charge, has been pushed back until after the general election.

The case was due to start at the high court in Edinburgh on 21 April, but on Monday the Judiciary of Scotland announced a new start date of 11 May.

The charge relates to the trial of the former Scottish Socialist MSP, Tommy Sheridan, and his wife, Gail, in December 2010, during which Coulson, a former director of communications for David Cameron, gave evidence. GUARDIAN

Water cannon decision delayed until after election
Theresa May, the Home Secretary, has delayed making a decision on whether to allow water cannon to be used for the first time on the British mainland.

The controversial equipment needs authorisation from the Home Office before it can be deployed but Boris Johnson, the Mayor of London, has already bought three second-hand cannon from Germany at a cost of £218,000. TELEGRAPH

Big Six energy companies force climbdown in energy profits storm: Ofgem ditches its controversial set of forecasts as industry hits back.
It is understood that the decision to suspend publication of the Supply Market Indicator (SMI) was delayed until after the General Election.

Regulator Ofgem has backed down and stopped publishing its controversial forecasts of the profit margins of energy companies in the face of criticism from the industry. DAILYMAIL

Officials delay shale gas decisions until after election
British officials have delayed decisions on whether to allow Cuadrilla to explore for shale gas at two sites in northwest England until after next month's general election. REUTERS

Honours list: David Cameron to delay announcement until after election
David Cameron is planning to postpone the announcement of the next honours list until after the election, because he is worried that Conservatives he nominates might be embroiled in a scandal before polling day. INDEPENDENT

Government delays decision to semi-privatise court bailiff services until after election
The semi-privatisation of chasing court fines has been delayed until after the general election. On Monday [16th Feb 2015], the Evening Standard reported that BT is in pole position for the long-delayed deal, which is estimated to be worth nearly £700 million to the telephony giant. But it was unclear whether Justice Secretary Chris Grayling would get the contract signed before the general election in May. EVENINGSTANDARD

Police Scotland slammed for delaying publication of serious crime figures until after general election
A RAFT of statistics on domestic abuse, race hate, drug and gun offences were meant to be made public over the next month - but have now been delayed until autumn. DAILYRECORD

Police's failure to investigate rapes report shelved until after general election
A scathing review of the police’s failure to investigate rapes has been delayed until after the ­election to avoid a public outcry.

Officers have been told the damning report, which was due to be published last month, has been shelved because of “political interference”. MIRROR

Decision on when to sell taxpayers' stake in RBS will be delayed until after general election
The UK government will decide after the General Election in May when to start selling taxpayers' 81% stake in RBS. DAILYMAIL

IDS hides poverty statistics until after the election
Crucial statistics on the effects of the governments welfare reforms will be deliberately delayed until after the election, to prevent academics and campaigners discovering the effects of policies such as the bedroom tax, changes to disability living allowance and employment and support allowance and increased sanctions. BENEFITSAND WORK NEWS

Hospital review report delayed until after General Election
A LONG-awaited independent report into an extensive review of hospital services in Worcestershire will not be released until after May’s General Election, it has been revealed. WORCESTERNEWS

Benefits Street is now on hold in case it affects General Election
Channel 4 have put a hold on their controversial series Benefits Street – in case us fickle viewers are swayed heavily in which way we vote in the election. METRO

Thursday, 28 May 2015

Thursday, May 28, 2015 Posted by Hari No comments Labels:
David Cameron has dropped plans to block 10% (£7,000) rise in MPs' salaries
The Prime Minister described the plan as ‘totally unacceptable’ when it was first put forward in 2013 by Ipsa. But government sources said yesterday that he had now abandoned plans to block the increase. Prime Minister's u-turn comes in the wake of protests from backbenchers. The decision means MPs will now almost certainly see their salaries rise by £7,000 to £74,000 a year following a final review by the Independent Parliamentary Standards Authority. The pay rise, expected in the autumn, will be backdated to the General Election. However, Mr Cameron imposed another five-year freeze on ministerial pay. The move means ministers will continue to receive £134,565 and the Prime Minister £142,500. Many Ministers and MPs have previously argued that it is almost impossible for them to support their families and keep separate homes in London and their constituency on the current money – but realise that it is politically toxic to say so publicly. One of the few prepared to speak out, senior Conservative MP Charles Walker, warned on Saturday night that continued pay freezes were driving talent away from the Commons. He said: 'We cannot have a monocultural Parliament that over time excludes professional middle-class people – it will only be political anoraks and the well-off... That will be a really bad day for democracy.' DAILY MAIL

Landlords enjoy £14bn tax breaks as figures reveal buy-to-let expansion
Landlords enjoyed a record £14bn in tax breaks in 2013, according to figures revealing the expansion of the UK’s buy-to-let market in the aftermath of the financial crisis. In the 2012-13 financial year, £6.3bn was declared against the cost of mortgage interest alone, according to information obtained by the Guardian from HMRC through a freedom of information request. The figures reveal that the number of landlords has increased by more than one-third over the past six years: 2.1 million taxpayers declared income from property in the 2012-13 financial year, up from 1.5 million in 2007-08. The anti-homelessness charity Shelter has called for the government to conduct an urgent review of the tax treatment of landlords, who can also deduct the cost of insurance, maintenance and repairs, utility bills, legal fees and other expenses from their income. Owner-occupiers are not entitled to the same privileges. Critics of the expanding buy-to-let market have long warned that such tax breaks give landlords a considerable financial advantage over ordinary homeowners when competing for the limited supply of houses. In response to the figures, Campbell Robb, Shelter’s chief executive, said: “In the context of looming welfare cuts and a dramatic shortage of homes, all those struggling to keep up with sky-high housing costs will be shocked to hear that a massive £14bn has been given in tax breaks for landlords in just a year.” Data from the Council of Mortgage Lenders indicated that landlords were granted nearly as many mortgages as first-time buyers in January. In April, analysis by Wriglesworth Consultancy for the lender Landbay found landlords had enjoyed returns of 1,400% since 1996, far in excess of the rewards offered by shares, bonds or cash. GUARDIAN

Pressure forces Amazon to start to undo Luxembourg tax dodge
Transactions carried out in European markets were previously recorded in Luxembourg, with which Amazon had a low-tax agreement. Now sales made through subsidiaries in the UK, Germany, Spain and Italy will be registered in those countries, the retailer has said. Amazon had received heavy criticism for its tax avoidance policies. The company said in a statement: "As of 1 May, Amazon EU Sarl is recording retail sales made to customers through these branches in the UK, Germany, Spain and Italy.” In recent years, the European Union has intensified its investigations into the tax deals negotiated by global companies with countries such as Ireland, Luxembourg and the Netherlands. It suspects that such deals amount to illegal state aid and distort competition. Last year, the European Commission - the EU's executive arm - launched a formal investigation into Amazon's tax arrangements with Luxembourg. And the EU is also looking into tech giant Apple's tax dealings in Ireland, coffee-shop chain Starbucks' dealings in the Netherlands, and Italian carmaker Fiat's agreement with Luxembourg. BBC NEWS

France to force big supermarkets to give unsold food to charities
In a rare cross-party consensus, the French national assembly voted unanimously to pass the legislation as France battles an epidemic of wasted food that has highlighted the divide between giant food firms and people who are struggling to eat. In recent years, French media have highlighted how poor families, students, unemployed or homeless people often stealthily forage in supermarket bins at night to feed themselves, able to survive on edible products which had been thrown out just as their best-before dates approached. But some supermarkets doused binned food in bleach to prevent potential food-poisoning by eating food from bins. Other supermarkets deliberately binned food in locked warehouses for collection by refuse trucks to stop scavengers. Pressure groups, recycling commandos and direct action foraging movements have been highlighting the issue of waste in France. One action group dons gardening gloves to remove food from supermarket bins at night and redistribute it on the streets the next morning to raise awareness about waste, poverty and food distribution. GUARDIAN

Sunday, 24 May 2015

Sunday, May 24, 2015 Posted by Jake No comments Labels: , , , , ,

High pay and privileges is about the powerful helping themselves. Bosses deciding that they deserve more (pay & perks) for working hard, while asserting the rest of us must get less (employment rights; cash; pension rights) so we work harder. 

Adrian Beecroft, a venture capitalist who advised the previous Tory led coalition, recommended allowing employers to sack workers on a "no fault" basis. Beecroft said this approach would

“produce an instant improvement in performance in a significant part of the national workforce”.


In plain English, he reckoned "a significant part of the national workforce" is slacking and could do with a bit more fear.

The Welfare State is perceived by too many to be the powerful helping the weak. It is not. Welfare provides health, education, security etc not just for the weak but for everyone. Even for those who can afford privately purchased services, but rely on the state to educate and keep healthy their staff. In reality the Welfare State is how the many can choose, by the democratic process, whether to be as powerful as the powerful few. Or whether to depend on their benevolence and charity.

Gross Wage Inequality in the EU

Wage Income inequality is a clear measure of the power of the few. In Britain wage income inequality is about the highest in the EU. 


Disposable Income Inequality in the EU
Transfers from those on higher incomes to those on lower incomes, in the form of taxes and welfare, bring us back to similar levels of Disposable Income inequality as France and Germany. 

 
Some may defend this greater wage inequality in the UK, asserting that the brightest are brighter than the dopiest in the UK to a greater degree than in the rest of Europe. Could it be true?

To test this, consider wage inequality between two groups within the UK who we know (by experience, common sense, as well as by law) to be equal. Let's consider the wages paid to men and women. 

EU data shows the average wage of women in the UK is 25% lower than that of men. [The EU data uses Full Time Equivalent wages that make allowance for part time workers]. This places the UK at the second highest gender pay inequality of the 24 EU countries for which data is available (Estonia is worse). The graph below shows these gender wage ratios for the larger EU nations.

Office for National Statistics data in the two graphs below show women doing far more low paid jobs in the private sector. This is in contrast to the public sector where the women's pay distribution is much more closely aligned with men. The graphs show women tend to be paid less but not why.

1) Private Sector Pay Distribution, Male & Female

2) Public Sector Pay Distribution, Male & Female


Perhaps women are taking more of the low-powered and thus low paid work? Is that because they are more low-powered? Or because women are paid less for doing the same-powered jobs? Or because opportunities in higher-powered jobs are harder for women to get?

A report done for the Department for Education suggests the female of the species is academically more successful than the male:

a) At GCSE level the girls have been beating the boys for decades:

b) At A-Level a higher proportion of girls get A-C grade than do the boys:
[An article in the Guardian newspaper provides more detailed data for 2014 A-Level results, including gender breakdown by subject, should you want to take a look.]

And a report done for Parliament shows since the 1990s significantly more women are taking degrees:

With women performing academically better than men for more than two decades, they are already overtaking men as the more qualified gender in the workforce. 

So once they are in their professions, do their rewards reflect their qualifications? A report by the University of Warwick on graduates transitioning into employment shows regardless of the profession on average women are paid less than men:



Income in the UK is distributed grossly unfairly. When doling out the cash, the one holding the ladle first serves himself (the ladler tends to be male) and then those like him. More so in the UK than in the rest of the European Union.

People who are doing well like to think they deserve what they have. They like to think inexplicable but ominscient forces fill the rich with good things, and send the hungry away empty. Monarchs get their position by the grace of god. FTSE100 CEOs and their bankers get their copious remuneration because of Market Forces. Prime Ministers get their power by the will of the people. 

Top executives and their remuneration committees say it is wrong to measure their worth to justify their pay, because their pay measures their worth. If you want to know how much I am worth, they would say, just look at how much I am paid! 


It is the Welfare State that provides some redress for the power of the few over the many, using taxes as a means of redistribution. If the Labour Party hopes to regain the support of the electorate they need to make this clear. They need to show they fight not only for those down on their luck and for the "workers", but for everyone.

The Welfare State is not only for the needy, it is for everybody.

Friday, 22 May 2015

Friday, May 22, 2015 Posted by Hari No comments Labels: , , ,
Chris tries to get answers from one of our "captains of industry"...

SOURCE BBC NEWS: Osborne says low productivity key economic challenge
In his first major speech since his return to the Treasury, Mr Osborne told the CBI annual dinner that boosting productivity was vital to sustaining rises in living standards. He identified increased productivity as one of the government's central economic challenges over the next five years. The UK, he suggested, could become the "most prosperous country in the world" but only if historic weaknesses in the UK's infrastructure and skills base were remedied. UK productivity was historically 30% lower than in Germany and America - a gap that previous governments had wrestled with but failed to do much about. Productivity is generally defined as the level of economic output per hour worked against the cost incurred.


Thursday, 21 May 2015

Thursday, May 21, 2015 Posted by Hari No comments Labels:
Record $5.7bn (£3.6bn) fines for currency market fix: UBS, JPMorgan, Barclays, Citigroup and RBS
US Attorney General Loretta Lynch said that "almost every day" for five years from 2007, currency traders used a private electronic chat room to manipulate exchange rates. Their actions harmed "countless consumers, investors and institutions around the world", she said. "They engaged in a brazen 'heads I win, tails you lose' scheme to rip off their clients," said New York State superintendent of financial services Benjamin Lawsky. The fines break a number of records. The criminal fines of more than $2.5bn are the largest set of anti-trust fines obtained by the Department of Justice. The £284m fine imposed on Barclays by Britain's Financial Conduct Authority was a record by the regulator. Meanwhile, the $925m fine imposed on Citigroup by the Department of Justice was the biggest penalty for breaking the Sherman Act, which covers competition law. The guilty pleas from the banks are seen as highly significant as banks have settled previous investigations without an admission of guilt. But the fines are "much lower than expected," said Chirantan Barua, an analyst at Bernstein Research in London. "No retroactive massive Libor fine for Barclays is a big positive, as is no reopening of the NPA (non-prosecution agreement). "The fine came in £270m better than we expected for RBS, £850m better in the case of Barclays," he said. Both US and UK regulators will continue to investigate other market manipulations that may see further massive fines imposed. BBC NEWS

Schuh workers to share £25m bonus windfall
The company, with a UK head office in Livingston in Scotland, confirmed the payouts after announcing annual profits of more than £11.5m. The bonus was agreed as part of a 2011 deal when Tennessee-based Genesco Inc. bought the company for £125m. The amount each of the company's 3,500 UK workers receives will depend on their length of service and salary. Typically, a full-time sales advisor on an annual salary of £14,000 and with five years' service will get a bonus of £3,000. A full-time store manager with a £34,000 salary and 10 years' service will receive £14,000. Schuh has 111 shops around the UK. Colin Temple, chief executive of schuh, said: "The success of our business is based on the hard work and dedication of our people and there is no better way to thank them than to let them know today that we are sharing £25m throughout the business." BBC NEWS

Energy firm SSE powers to 40% rise in retail profits despite losing 500,000 customers
SSE has reported a 40% increase in annual retail profits despite a drop in power demand and losing half a million customers. SSE became the first of the big six firms to hike its gas and electricity prices at the end of 2013, by 8.2%. At the time, despite falling wholesale oil and gas process, all the big energy firms said they had to keep prices high to counter Labour’s threat to freeze their prices if they won the election. Ann Robinson, director of consumer policy at uSwitch.com, said: “With the threat of a Labour price freeze now off the table, the big six have officially run out of excuses for not making proper, double-digit reductions to customers’ bills, following significant reductions in the cost of wholesale energy.” SSE has cut its gas prices by 4.1% from last month and promised to hold them until July 2016, but government figures show the wholesale price of gas has fallen by almost 17% over the past 12 months. GUARDIAN

Why are wages stagnating? BofE boss Carney enters the immigration debate
In an interview on the Radio 4 Today programme, Mark Carney, the governor of the Bank of England, appeared keen to play down the idea that migrants to the UK have depressed productivity – and wages. After the longest decline in living standards in a generation, the Bank’s latest quarterly inflation report conceded that higher than expected migration may have been one factor constraining productivity – and wages – over the past five years. But Carney stressed there were other factors at work, too. One is the growing prevalence of low-skilled jobs in the workforce. Another is the growing number of older workers, and employees’ willing to take on more hours, which seems to have increased the amount of slack (number of people seeking work) in the labour market – and therefore made it easier for firms to keep do business without having to offer higher wages. Carney played down immigration effects, pointing out that net migration has been only 50,000 a year higher than predictions. The Bank’s monetary policy committee (MPC) is also expecting the impact of migration to fade over time. But the MPC is deeply divided about how much slack there is in the labour market – and there’s a strand of thought that says relatively high inward migration may have structurally weakened British workers’ bargaining power. GUARDIAN

Tuesday, 19 May 2015

Tuesday, May 19, 2015 Posted by Hari No comments Labels: , , , ,

The Tory majority hides what happened when you count individual votes. The Tory rise of 0.8% was less (apart from the LibDems, of course!) than any of the other major parties. UKIP were up by 9.5%, followed by the SNP at 3.1% and the Greens at 2.8%. Even the Labour vote rose by 1.5%. The Big Question is how many of UKIP's votes were for its rightist policies and how many for its leftist, given a lot of their support came from the "left behind", on low incomes, who had previously voted Labour.

Election 2015 results: BBC NEWS

Saturday, 16 May 2015

Saturday, May 16, 2015 Posted by Jake 2 comments Labels: , , , , , ,

"Lions led by donkeys" was an assessment of the qualities of senior officers and the rest of the troops in the British Army of World War One (WWI). Ordinary soldiers were said to be the lions in the trenches while their top leaders were the donkeys in the officers' messes. 

The donkeys recklessly sent the lions to their deaths on the battlefield. The donkeys did this not through incompetence, but because their interests were not aligned with the lions. The donkeys' interest was to keep their privileges, which in practice were mainly privileges over the lions. The lions fought in WWI mainly to be left alone to live their lives in peace.

Though the lions' and donkeys' interests were not aligned both knew the threat to them came from the same direction: Germany. So the lions allowed themselves to be led by the donkeys.

Share This

Follow Us

  • Subscribe via Email

Search Us