UK'S CHANCELLOR GEORGE OSBORNE ON THE RACK AGAIN

Hopefully they are turning the wheels well. The Chancellor, as some newspaper mentioned, should have a kick up the arrears.  This ‘financial wizard’ had to borrow £62million in Jul, 2013 when the City financiers expected a surplus of £2.5billion but they did not reckon with George Osborne’s great magic wand. So, where did the difference go?
  

July is known as a great months for the Treasury because the corporation and income tax are coming in more than any other month.

We might be the plebs in the Elite’s eyes but they make one mistake to think the public is stupid. Today with the newspapers and Internet we are more informed than ever before.  Therefore, the question has be to answer what is going on?

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British manufacturing is at a high for two years according to the CBI and therefore the economy should see tax income rise and welfare cost fall but Mr Osborne by a sheer miracle saw himself forced to borrow £62million to balance the books.

The CBI reported further that 37 per cent of the firms in this sector having reported a rise of output in contrast to 21 per cent saying it had fallen. There is a gap of 16 per cent and it is the biggest since August 2011.

Since the City expected a £2.5billion and they surely know what they are talking about what is really going on behind the closed doors? Creaming off is one thing but bucketing when people have to starve and in the coming winter have to freeze because this great Government will not curb the energy suppliers is below any irresponsibility. It is unscrupulous.

Last month the Office for National Statistics announced an increase of Britain’s national overdraft to £1.2trillion and the Government has borrowed £36.8billion in the last three months in comparison to the same period in 2012 of £35.1billion. Yet, David Cameron and George Osborne have the callous manners of pointing the finger continuously at Labour.  Do they really think the public is so stupid and buys it? It is pathetic and goes down to the level of four-year old kids in which age kids always make fun of others and point fingers. It really is going all too far.

Even the Treasury has the nerve to announce that the economy is moving from rescue to recovery. We heard that since they came into power. Yet, Labour Gordon Brown who experienced the worst crash called the credit crunch which was a lie from America but he manage to have a 2.5 per cent GDP when he handed it over to this, always sneering at him when in the opposition, David Cameron.  The 2.5 GDP vanished within three months.

So, how much longer is the Conservative Party allowed to run Britain the country and its people into the ground until somebody powerful enough stops them?  I like the title Conservative; it should be Demolishing Party because that is what they have been doing for three year and will carry on doing. How they ever came into power, even with a minority, leaves me and most of the public wonder after the damage Margaret Thatcher done to this country which was more than enough for any memory? They call themselves English and even go that far to say they are proud of it yet they constantly destroy this country? It should never be allowed.

UK NEW UNIVERSAL CREDIT IN TROUBLE

The UK government seem to be over-ambitious to change all the systems. Yet, it never seems to be thought through properly or organised before hand. At the end it cost the taxpayers more money than it should be saving as the government always promised.

In spite of promises that the NHS would be safe in their hands no sooner the Conservatives were elected they started to sack 4,000 nurses and closed A & E departments. By now the Doctors and nurses are under huge pressure and the waiting lists are far too long. Next months NHS will be transferred from the Department of Health to a Trust which smells of privatisation. If it is it will not be for the better.

Last year the government announced to change the welfare into the biggest shake-up for generation. The government's flagship the Universal Credit supposes to bring all the benefits into one payment. So far when the government changed something it was always for the advantage of the government never for the people.

Now it was revealed that the government’s pride and joy the Universal credit is already in crisis. Shadow Work and Pensions Secretary Liam Byrne is trying for the MPs to admit that the scheme is in crisis and to try their hardest to sort it out now before millions of family’s tax credits are at risk.

Furthermore, a report revealed Work and Pension s Secretary Ian Duncan Smith had to put back three of four pilot schemes which supposed to have started next month to July. 

As mentioned earlier in this report all this mess is not surprising and the public had it too many times with the coalition meddling and trying to change systems which had been there for decays and worked.  Previously with the Conservative Party only in power Margaret Thatcher turned the whole country up side down with privatisation of gas, electricity, railway, shipbuilding and cling down most of the coal mines. The result was that shareholders (guess who) made a packet and all these industries deliver a poor service to the consumers.  It also resulted to five million unemployed. Since they haven’t learned their lesson PM Cameron plans to privatise the Royal Mail, Fire-brigade and selling he RAF Search and Rescue Service to an American Company.

UK CHANCELLOR BORROWING RISES - 8 Sept., 2014

UPDATE:  8 September,2014 --  The debt rose from £1trillion in 2010 to £1,5trillion in 2013 but the Tory-led Government still blaming Labour. Yes, Labour borrowed but do not forget they had to bail out the banks which are nothing but a shamble ever since the famous Margaret Thatcher de-regulated the banking system. Before the British banks has a standard and were highly respected in the world. As for the austerity it costs the country £240billion according to the financial experts.

A RECORD NOTHING TO BE PROUD OF


While Chancellor Osborne keeps cutting and preaching austerity the unemployment rises and so does his borrowing.  It is the same old story which he should know that when you cut back on jobs people get unemployed and can’t spend any or no money.  Goods won’t get sold, apart from the very necessary and manufacturers get less order. They lay off people which add to unemployment and so the vicious circle continuous.

The government spent £17.5billions which is an increase of £1.2billion compared from the year before although experts predicted a fall of borrowing.

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There was a revision of the estimated figure of growth between July and September, 2013 from 1 per cent to 0.9 per cent. This sudden growth was only due to the Olympics, Paralympics and the Queen’s Diamond Jubilee Celebration. Even then in spite of being in great debts the government did not request the tax from the profits of the Olympics. No the government and Chancellor turned on the poorest of already struggling families and introduced the spare bedroom tax.

They cut the disability benefits. Child care, pensioners to recuperate their losses.  Yet they found money to give themselves a £25,000 rise.  Not tackling the tax avoiders and yet they had the nerve to state that middle-class working people are fed up of financing scroungers like unemployed and claimants of benefits.

That is the second time it happened.

This arrogance and out of touch is incredible coming from a government who should be all for their people. They forgot that it is the ‘scroungers’ who voted them in.  Now Chancellor Osborne plans to cap the benefits till 2015/6 as if the people are not already pushed to the limit. The very fact that there are 280 food banks across the country tells you the hardship.  Nobody would go there if they were not desperate.  Some walk for miles by wind and weather because they have not got the pass fare. Does all that not count any more to get the message through that people are already past their limit?

CAMERON CHILLAXED TWICE AT A EU'S SUMMIT MEETING

David Cameron was caught out once before when on a Commonwealth meeting he vanished a day before the meeting was finished. There again he could and should have sorted out several points with the rest of the heads of other commonwealth countries. It was remarked upon by other leaders that the Prime Minister should have remained but where did he go? He went to a vineyard and tasted their various products.

This time, at the EU’s summit meeting where it is was most vital to achieve the best agreement on the budget for the next seven years Mr Cameron vanished twice to eat in fancy restaurants. Surely the menu of the EU summit meeting was of the best there was available.

He promised the taxpayers that he would do his utmost and will negotiate hard but after a very few hours he vanished. He went to a top restaurant called Brasserie 1898 which has specialities of a variety of Belgian beers and chateaubriand steak costing £44.50.

Just before the summit super he was gone again for a fish dinner. The final lunch was baby venison and bottles of wine costing £120 each were served. Although the other menus were not reported but judging by this one it must be assumed the other lunch and dinners couldn’t be less extravagant. Only Mr Cameron can explain the reason for him having to vanish just before each lunch and dinner was served.

Again Mr Cameron wasted and lost time for important negotiations with other European leaders in the two days crunch budget summit meeting. This costs the taxpayers hundred of thousands of pounds in which nothing was achieved. Brussels has postponed it to another meeting in the New Years which adds more expenses. They definitely know how to live it up while the public in Britain gets pushed to the financial limit and soon beyond. 

It us doubtful that he became now Holy Joe because we do not hear any more of his escapades. Mr Cameron, most probably, has the thumb on the press not to report it.

HEDGE FUND BETS

For the first time an EU ruling made sense. The EU ruled from 1 November the Financial Service Authority has to disclose any shortening by Hedge funds.

The scale of short-selling by Hedge funds has been made public for the first time. This occurs when Hedge funds bet on a company’s share price falling. As before it was a very secretive Hedge fund bet on shares falling and shorting by borrow shares and sell them hoping they can buy them back at a lower price which will give them a profit.

Another fiddle disclosed. We had the Libor scandal and hope this had been regulated now. We had the tax avoidance scandal and now the Hedge fund bets scandal.

Shares of about 150 companies are on the list of around 50 funds which were shortened.

The bets adding to hundreds of millions of pounds and right across the whole industries which include builder Barratt, online grocer Ocado, web retailer Asos, insurer Admiral, Marks & Spencer and bookmaker William Hill to name but a few.

The biggest short position in per centage of market value is fund manager David Einhorn’s Greenlight Capital against Daily Mail & General Trust.  His 4.4 per cent against DMGT amounting to £80million. DMGT is the owner of Daily Mail and Sunday Mail.

Under the new EU ruling the FSA will have to publish short positions above 0.5 per cent of a firm’s market value.

The banks and finance sector have a lot to answer for the crisis of the economy. It is high time they are going to be regulated again. It only came about after Margaret Thatcher de-regulated the banks and Finance.  The disclosure due to the new EU rules shows and proves creamed off hundreds of millions of pounds.

There again the government should have stepped in much earlier and stopped it instead of cutting ordinary people’s benefits which surely don’t add up to half of these amounts.

BUT THEY ARE THE CITY BOYS WHO SUPPORT THE CONSERVATIVE PARTY.

CITY TRADER -- MONEY TO WASTE

That is how Mr Cameron's and Tories' friends live while families are brought down so low they have to rely on food banks. Mr Cameron still puts on a show of concern about the "hard-working people".

A city trader spent this incredible sum of £40k in one night. He treated nine friends to a night out and partying beside a famous film star of Hollywood on the night of Halloween. An eye witness stated the he didn’t hold back the moment he saw this famous star and maybe he tried to show off at the Raffles in Chelsea’s Kings Road.

They city trader started with 10 Zombie cocktails which are made of rum, absinthe and grapefruit at £30 each.

Soon he was dancing the night away at the 230 capacity members only club. When the famous star turned up at 11pm the city trader ordered three giant bottles of vintage Dom Perignon champagne methuselahs amounting to  £24,000. After came seven bottles of vintage Dom Perignon Oenotheque 1996 adding another £3,500; two Belvedere jeroboam vodkas adding £1,640; seven glasses of Don Julio 1942 tequila adding £224; two vintage Dom Perignon Rose 2000 magnums adding £2,200; six bottles of Krug rose adding £2,400; Red Bull for £87.50; Havanna rum at £350 and finally 16 café parton with tequila adding £160.00.

The final bill came to £34,861.40 plus £5,229.23

This is a glimpse how the city boys live and the world they live in. To spent £40k in one night without padding the eye lid while the country struggles to survive and not only the ordinary people but also the economy and the government does nothing to curb their bonuses. At the very same time David Cameron and his friends always shouting about AUSTERITY and benefits have to be cut for England’s economy to survive.

To spent this kind of money in one night they must be used to it. This only can be done with all their high salaries and top bonuses. Therefore, the prime minister and the coalition should step in where it should be done. Also the Bank of England was talking about and promised to bring in regulation of the bank and city.

This regulation had been well overdue and when the people started a movement under the name of OCCUPY they soon were removed but the government will no confront the banks and city.  It is no wonder when banks go bankrupt but then the government makes the taxpayer to step in to rescue them. Yet when it shows a profit it is soon distributed in bonuses instead of being made to pay it back to the taxpayers.

There is another broken promise of David Cameron of stopping these huge bonuses. Times and again he promised but when it came to it, it was quietly sidelined. At stage he said it takes time to do this but when Occupy launched a protest in no time he had it through the courts and they were removed. All the government’s action is certainly one-sided and not democratic.

All this mess is since Margaret Thatcher de-regulated the banking and finance system. That lady has a lot to answer for, for the shamble ever since exists and until the government does not regulate the banks and finance market there will be nothing but scandals coming up.

The scandal of the Libor but after it hit the headline we never heard anything about it and apart from one man being sacked but with a more than fat golden handshake which should have never been given. He also will receive big pension while ordinary people’s pension is getting cut.

David Cameron is certainly in this altogether and he must be smirking away at the ordinary people he keeps well down. However in the long run it will backfire in the economy when next year all the cuts will bite and the people have even less to spend. Well it also could be that the public will remember and not being swayed by more promises in the future. Time will tell.

AGAIN BANK BONUSES PAID OUT

The root of the problem lies with Margaret Thatcher having de-regulated the banks. Ever since there has been nothing but financial chaos.  The public has been up in arms about these undeserved, massive bonuses and David Cameron had been promising time and time again to put a stop to it but nothing ever happened.

This time the bonuses were even paid out at the Bank of England. The staff receives a £25million over five years.  This had been in spite of not foreseeing the credit crunch and the Chancellor George Osborne manage a double-dip recession and will have another on in September.

The statement released by the Bank showed executives having received up to £30,000 a year performance related pay added to their salaries.  This is utterly undeservedly since they did not take measures to forestall the credit crunch and the recession.  Yet they get a performance-related pay. In the commercial world they would have got a dismissal and that would have the right bonus.

Furthermore, the figures showed that in just last year their bonus increased by 4 per cent to £4.9million but the country’s economy is in a recession. 

Sir Mervyn King and his team couldn’t even see the financial crisis and had to revise the economy forecast 12 times over the past year.  For all that failure they receive a performance- related pay. Has there ever been such a financial mismanagement in any government?

But wait a minute because here is the famous wipe the slate clean. A spokeswoman said: “Staff on a two year pay freeze which began in 2011. Bonus payment is based on individual performance. The pot has been frozen at six per cent of the total salary bill for the last three years.”

An utter non-sense in every word. If they didn’t see the financial crisis coming and didn’t forestall it why did they get a bonus at all? Furthermore they get paid a salary for the work they do and they just do the work they are there for. So, why a bonus? They don’t do any extra work and by the looks of the result they didn’t even do that.

Yet, David Cameron the great knight in shining armour would not dare to stop it. It is still sticking together and you scratch my back and I scratch yours. It always was going on but nowadays it has gone out of control and the country is going down rapidly.

CAMERON'S PLEDGE KEEP EU COSTS DOWN - Updated 8 June, 2015

UPDATED:  8 June, 2015 -- it is still  the same situation and yet the Tories were voted in again and even with a small majority. It does not make sense.  The FTSE is falling ever since therefore th economy has not improved as promised.

UPDATE: 11 Dec., 2013 -- The news came through, Mr Cameron agreed to pay another £10billion every year into the bottomless coffer of the EU because they are financially broke. Never mind about the broken UK economy and the poverty stricken British people who have to make a choice between buying food or heating their home. More money for the MEP who  use taxis to get from one city in Europe to the other right across. Who have higher salaries than the UK MP and more expense fiddles. Again the account was not signed and approved for 2012 because there was a discrepancy £95billion and went on for the tenth year. But gallant knight in shining armour has always money available for the EU, Foreign aid which never reaches the poor for which it is meant for and military conflicts. CAN ANYONE STILL BELIEVE ANY WORD HE SAID OR PROMISED?

There are nothing but unfulfilled pledges from the Prime Minister David Cameron.

This time the pledge was that he would keep the EU cost down.  He did nothing of the sorts and now the UK Taxpayers have to pay out £350million next year. This is an enormous amount for one country alone.

The facts are there will be an overall rise of 2.8 per cent in spending. This will mean that the amount the EU costs the countries is £108.7bilion. This is an incredible amount of money for the administration of the European Union. It is unbelievable that such vast amount of money has to be spending on it. There must be something more than meets the eye. It is well know that the EU members are living in top quality champagne, luxurious lunches and taxi rides no matter where. But surely it wouldn’t even add up to that amount.

Many of the Prime Minister's own Ministers of Parliament are livid that he could have missed and finally failed to cut the budget.

 Now there is where austerity should be applied and it would bring in more than cutting the benefits of pensioners, police or armed forces. Cutting Police and Armed Forces will only create unemployment which means social benefits’ payment. This is surely no saving.

A source remarked: “A Europe policy that this year sees an increase in EU spending is a sign of the Prime Minister’s weakness.”

BRITISH GAS ON RECORD PROFIT ALREADY IN 2012

 A forecast assumes that British Gas will have its profit improved by 33 per cent. The biggest supplier of gas will have made a £350million in the first six months of the year.

Its parent company Centrica will have made a profit of £1.45billion and this is an increase of 15 per cent on the same period in 2011.

In spite of having used more domestic energy because of the weather keeping longer cold than normally but it doesn’t explain the 33 per cent and 15 per cent increase on profits. This comes from increasing the prices and they have been increased.

A few percentages would have been acceptable but 13 per cent on electricity and 33 per cent on gas is criminal in an economical recession. Again this would be where the government should step in but not a word or stopping it. Last year David Cameron had a meeting with Gas and Electricity companies and he promised to get them to reduce the prices in view of the situation.

INSTEAD OF A REDUCTION THERE IS NOW SHOWING A SKY HIGH INCREASE.

British gas promised to reduce electricity prices by 5 per cent in January. In spite of looking ungrateful but this reduction of 5 per cent was after a 16 per cent rise on electricity and 18 per cent rise on gas in the previous August.  Do we now jump up and down?

At the end of the financial year Centrica should have made £2.8billion and British Gas about £590million. Centrica will point out that they invested £1.5billion to make sure there are new supplies.

But Richard Hall, of watchdog Consumer Focus, said: “Consumers are facing historically high energy bills which focus their attention on whether pricing is fair.

“Whole prices rose a little earlier in the year but are now falling. We have long questioned whether drops in wholesale costs find their way to household bills.”

This is all very well said but what will done? Something has to be done because people can’t pay high energy prices and get their wages reduced, lose benefits and/or lose their jobs.

There are quite a number of watchdogs out there studying all these price rises and putting all these statistics together and seeing that they charged over the moon but not one is doing anything drastically about it. Sorry, to have to ask the question: “So what are they really there fore?” Surely if all those watchdogs would get together and pressure the government some result must come out of it.

BIGGEST JOKE MONEY SPENT ON WAKE-UP CALLS

A company has received £330,000 money from taxpayers to wake-up young jobless with morning phone calls. It is part of 'Youth Contract programme Neets' which is for teens not in education, employment or training. This is provided by Pertemps People Development Group located in the North East.

A spokesman Paul King said: “In some cases we have kids who would literally be in bed all day. That is the reality. A call that physically wakes them up is part of getting into a routine.” Basically it is a good idea but they don’t seem do realize that there aren’t any jobs especially for youngsters.

Deputy .Prime Minister Nick Clegg says he wants companies hired to get young people in work to be “creative”. Again great sounding words but companies don’t work like that any more. They employ you if you have either the qualifications and then they turn you down if you don’t have the practically experiences. They employ you if you have the practically experiences and picked up somewhere the technically knowledge up.

In the olden days they took you on for a certain time and if you can pick up the knowledge of the work fine and good but now the companies don’t do this any more. You should have used that money to create jobs. 

Don’t you know there are 2.5 millions unemployed including one million youngster can't get a job? 

WAKE   UP   GOVERNMENT  --  WAKE   UP   NICK   CLEGG  --  WAKE   UP   CAMERON

CAMERON PROMISES, PROMISES AND NOW MAY updated 29 Sept., 2017

Now May does the same - all promises in GE2017, elected  and dropped them in Queen's Speech.

Looking back over the years nothing has changed. He still promises and does not keep it.

The UK Prime Minister David Cameron visited the troops in the Helmand Province, Afghanistan. He gave the troops a promise that seriously injured armed forces will be paid £130 a week for life. They will also get any further vital support for their injuries.

This would means for injured personnel to get top-of-the-range prosthetic limbs free on the NHS.

They will go straight to the front of the queues at hospitals.

Jobcentres will give unemployed people help to find work which fits the particularly injured person.

IVF for partner of servicemen who have suffered groin injuries.

Mr Cameron said: “The military covenant is all about the country saying to our armed forces we respect and revere you and we are going to do more for you.

“We are saying that with disability benefits the military will have a special set of circumstances so they get a special deal.

“It is one of the many ways we should respect our armed services for what they do for us.”

Brave and glorious sounding words as always Mr Cameron delivers but he is also known and too many times to promise and not deliver. Another thought comes to mind that the Government announced this month to make 20,000 regular soldiers and 17 major units redundant by 2020.

The Government will change the benefit system and a new one called Personal Independence Payment for all working-age people with serious disabilities. Under the new scheme any previous claimant will be re-examined and many their cash will be stopped.

The troops will not be re-examined and therefore face no humiliation or cash stopped.

Troop welfare campaigner Col Richard Kemp, ex-commander of UK forces in Afghanistan, said: “I welcome any move that offers added support to the brave men and women injured serving their country.”

Mr Cameron defended the plans for Army cuts, saying: “I think it’s in everybody’s interest to have a defence budget that really adds up.”  Ahhh such wise words. The defence budget would add up even more if they never entered the Afghanistan war or Iraq. Mr Cameron and his cabinet would have the biggest shock in their lives how much money they would have in the defence budget.

A fine example is Cabinet Office Minister Oliver Letwin’s suggestion to bring the remaining 9,000 troops home next year and that alone would save £3billion.

At the same time Mr Cameron spoke in Helmand he also said that the troops would remain till 2014. Again he saving on his own people instead of caring about other countries.

BOB DIAMOND BARCLAYS EX CHIEF EXECUTIVE - Update 4 March, 2015

UPDATE: 4 March, 2015 -- Looking back at the scandalous period the result of Bob Diamond's severance money is beyond any description.  Bob Diamond part of the Libor scandal which caused 12,000 savers losing their money; costing the taxpayers £500million is being beyond any belief what happened in the banking system. Not one of the top executives were prosecuted. Thousands of bank clerks lost their jobs because banks, involved in the Libor scandal, cut back to pay their fines. 

Bob Diamond even refused to give up his £2million salaries and was allowed to resign, not to be sacked as any ordinary person causing fraud would have been. Today it is said that he received at least £20million severance money with his salary, bonuses and shares.  He soon set up an investment bank in South Africa and all these years earned high profits on buying and selling in South Africa, Nigeria and Botswana. He is now worth an estimated £105million and is back in the City of London.

Bob Diamond's life and career as far as we know it. Ever since the banks’ executives are getting sky high bonuses on top of their salaries which increase by 40 per in the last two years, Bob Diamond has been in and out of newspapers’ headlines.

Bob Diamond is the Chief Executive of Barclays Bank. Barclays bank and so far three others had been found out that they were monopolizing the interest rates. It is called Libor and it occurs when one bank lends to another and keeps the interest rates high.

Mr Diamond, 60, was one of nine children born in Concord, Massachusetts, USA. His parents were school teachers.

He also started as a lecturer at a university but changed over to investment banking at Morgan Stanley as a bond trader in 1979. Later he joined Credit Suisse First Boston.

Mr Diamond joined Barclays in 1996 as the head of investments banking division, Barclays Capital.

Now comes the interesting point that he narrowly missed in 2004 to be Barclays Chief Executive but at the start of last year he managed to be Chief Executive. Since it was at the beginning of last year it makes you wonder whether there was not more behind than meet the eye.

He is married and has three children. He love playing golf and is a great supporter of Chelsea. He often watches the team from the best suite at Stamford Bridge. Well that again is an eye opener that he would be such a great supporter of Chelsea. It is also said that he flies many time to the USA to watch his beloved Boston Red Sox baseball team.

Furthermore, Mr Diamond sits on board of the Old Vic Production and is a trustee of the Mayor’s fund for London.

Earlier on it was stated that if he was forced out of Barclays he would stand to receive a £20million severance package. After all they done to banking which in any other industry would be criminal that shouldn’t be paid.  But knowing how they stick together he will receive it. It also had been revealed that Mr Diamond made around £100million out of banking.

It is people like that who had a free hand because Margaret Thatcher de-regulated the banking system. There never was a credit crunch as such. They hoodwink the public with that and all the time there were millions and billions of bonuses being paid out while the public was pressured more and more.

The quicker they get back to the old banking system the better. PM David Cameron already starts to build a wall to protect them. At a summit in Brussels he stated that doesn't need to be told what to do he knows what to do. This will only lengthen the suffering but eventually it will have to be done.