Showing posts with label recession. Show all posts
Showing posts with label recession. Show all posts

Saturday, 29 September 2012

JACK STRAW CRITICISES GORDON BROWN



From a start Jack Straw has no right or reason to criticise Gordon Brown. When he was Justice Secretary and the mother of the murdered teenager Stephen Lawrence managed to bring the murder case into the court once more. Jack Straw named the high profile witnesses which the police tried so hard to keep secret. Stephen was killed by four youth who had 'connection' and therefore the verdict was not guilty. Therefore, witnesses were scared to stand up. They were given police protection and they gave true statements. Jack Straw named them openly.

Gordon Brown might not have the personality but he was a great Chancellor and in his last budget he increased a lot of the benefits to help people just after the credit crunch. The UK would be in a much better shape if the Labour Party had won but miraculously the queue at the voting station in the Midland and North were building up and were up to 200 people long by 10 pm. Usually it was almost empty by 9.30 pm. Then they closed it with these entire people still there not being able to vote. These areas were always Labour’s stronghold.

However, take one example from Gordon Brown’s budget which was the winter fuel supplement. Till that was introduced old people were dying by the dozen. The last winter fuel supplement was paid £250 and Gordon Brown promised to increase in the following winter to £300. The Conservative came in and it was reduced straight away to £200 and now they talking about to stop it altogether and they will. 

He also wanted to increase the pay of the police, military, nurses and not one word about breaking the NHS

Therefore, Jack Straw shouldn’t criticise Gordon Brown. He might not have the charm of Tony Blair, but this is another story altogether, but he understood hardship and knew money was there to be able to help.

He had 1.5 million unemployment at the height of the credit crunch and the UK had improved its budget to 1 per cent which vanished within a couple of  months when the Conservatives came in. Ever since there is nothing but recessions.


Wednesday, 15 August 2012

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.

Friday, 27 July 2012

DEMANDS CHANCELLOR OSBORNE STEP-DOWN -- UPDATE 26 May 2014




UPDATE: 26 May 2014 -- Looking back to this report from July 2012 the Chancellor has not improved and David Cameron, as always, stood by him. The great shout about the improved economy by 1.3 per cent is nothing in compare to Germany's three per cent and USA seven per cent. They took over from Labour with 2.3 per cent which vanished within three months.


The former Tory chief whip Lord Ryder gave a full criticism on David Cameron and Mr Osborne. He is accused of being obsessed with spin. He further ridiculed them stating that the Chancellor and Mr Cameron were watching 24-hour news. Lord Ryder thinks they are news editors and news managers but no strategists.  He recommended further that Mr Osborne should stop being a Tory election strategist.  He added: “The Treasury deserves a Chancellor to be there in a full-time basis.”

Mr Osborne is increasingly in demand to quit after the last figures this week showed another shrinking of 0.7 per cent of the economy between April and June. This marked as the deepest double-dip recession for 50 years.

After all these demands for Mr Osborne resignation various minister hinted they would be willing to step into his shoes. Vince Cable passed remarks that he would be willing to replace him. However, Mr Cable pointed out at the same time that they have a collective agreed policy and he will not make radically changes. He would plan to build on what George Osborne has already achieved.

Excuse me here for a minute. George Osborne achieved a double-dip recession and if Mr Cable plans to build on it there would be no use to change the Chancellor. Mr Cable's remark is absolutely incredible.

Former Chancellor Lord Lamont advised strongly for Mr Osborne to give up his strategy role. This again is incredible and unbelievable. Mr Osborne made a mess of the budget which is always the flagship to follow and should stand. Since his budget in March he did so many U-turn the public lost count. Yet, Mr Osborne has a strategy role in Downing Street. His budget was a mess of which he had months to prepare it; his economy is a mess and yet he has a strategy role.

Tory MP Nadine Dorries demanded replace Mr Osborne with Mr William Hague.  Another candidate was Defence Secretary Philip Hammond.

With all due respect but looking at all their records of achievement in their present job there surely won’t be an improvement.

A statement from the Chancellor said that he was focussing “110 per cent” on the economy but he had to take time out to meet the US Republican presidential contender Mitt Romney. Now we see how heavily Mr Osborne is committed and he had to tare himself away to meet Mr Romney. Was this at the Fund Raising Dinner or lunch for $17,000 to $25,000 per seat? If so will there be another parliamentary expense for the tax payers to pay?

Why Mitt Romney? They didn’t meet Mr Hollande when he was campaigning. I hope the people of the USA think before they put their vote.

The next news is naughty but a good laugh. According to an online poll for a national newspaper showed that the cat Larry at Downing Street beaten Mr Osborne by popularity votes. Larry had 24 per cent and Mr Osborne had 13 per cent. Maybe we should replace Mr Osborne with Larry.

Apparently the US has its vehicle in forward gear while the UK and Europe has it in reverse.

It is purely a result of decision makers making the right plans. Central Banks reduced their interest rates almost to zero in a very short time. While the Bank of England only cut the interest rate down to 0.25 per cent in the last few months.

President Obama’s administrators did not listen to calls to increase taxes and cut government spending. Instead they carried on with major infrastructure projects which brought billions of dollars to the economy.
Yes, they are closed to Asia which helped with exports but the UK having the European market but it is only half the export of which the other half should make a different.

The successful up-turn of the USA shows investors as safe haven and it can borrow at a rock-bottom price because of it.

Seeing all this evidence Mr Osborne still refuses to follow their footstep. He won’t use the golden opportunity to borrow cheaply to boost spending.

An expert Paul Dales, of Capital Economics said: “It is a good time for the UK government to borrow.
“And it could do this subtly by locking in long-term funding at these low, low rates.”





Saturday, 14 July 2012

UK PARLIAMENT BREAKS EVEN LONGER



The Members of Parliament (MPs) have even a longer holiday than the Queen. They are now on break till the 3 September. Then they come back for two weeks and go on a party conference season which will last till 15 October. Admittedly many work at home in their constituency

Not to mention about the special long break for the Queen’s Diamond Jubilee.

The House of Commons will sit only for 151 days this year. This will be down from the previous year of 157. David Cameron sends MPs even one day earlier this year and it is assumed that he tried to avoid a revolt.

To rub salt into the wounds Home Secretary Theresa May told the public to stop moaning and work harder after this government produced a double-dip recession. Coming from her is even worse after all the plunders she made and still keeps her job.

William Hague also joined the insulting remarks by repeating Norman Tebbit’s infamous advice to the jobless “Get on their bikes.” In other words he told the jobless people to tour the globe. You couldn’t get more insulting, could you? Of course, somebody sitting all their life in a fat pot they wouldn’t know what it means not having a job or money.

The Foreign Secretary added further “It’s getting on a plane, go and sell overseas, go and study overseas. It is much more than getting on a bike. A bike won’t get that far. There is only one growth strategy – work hard.”

The Community Secretary Eric Pickles said: “Government can’t create growth, only the condition for growth. We are only to do this if we all work harder.”

Referring to this last ‘advice’ the government knows how to cut and reduced growth. Therefore it must know, or should know, how to create it.

Furthermore to the useless advice from William Hague; he should know because he was selling weapons to Argentina till April and only stopped because Argentina threatened to take the oil companies to court if they start drilling in the Falklands. To get on a plane takes money. To sell successfully abroad you have to have good contacts and with every country in the recession nobody wants to know about buying from abroad.

With all due respect but when you are in the government and represent the people which are from a different class and life you should know what’s it all about before you give advice. All these pathetic remarks and shallow advices people can do without. It also doesn’t show a great leadership of the government.