asterisk2a + london   280

Millions of families 'worse off' than 15 years ago - BBC News
[ decades of underinvestment across the plane of the economy, infrastructure education skills ] On the "why", research by the Foundation - which was set up to look at the problem of low incomes - reveals that the economy has struggled to create wealth for people in work.
JAM  working  poor  poverty  trap  productivity  output  gap  class  Brexit  skills  education  policy  social  income  mobility  Austerity  downward  UK  recovery  secular  stagnation  stagflation  economic  history  GFC  debt  household  disposable  globalisation  globalization  Competition  competitive  competitiveness  underinvestment  London  child  childhood  Council  public  health 
july 2018 by asterisk2a
Warnings of 'anger and outrage' if Transpennine electrification axed | UK news | The Guardian
Northern transport bodies have fought for the government to honour its original pledge to deliver full electrification, a project that was at the heart of plans to improve rail links between cities across the north.
UK  Northern  Powerhouse  London  infrastructure  underinvestment  Brexit  Austerity  FDI  Tories  Conservative  Party  Theresa  May  JAM 
july 2018 by asterisk2a
The UK Refused To Raid A Company Suspected Of Money Laundering, Citing Its Tory Donations
A national scandal: The government refused to help a French investigation into money laundering and tax fraud - citing the fact the company is "the biggest corporate donor to the Conservative party"
Tories  nasty  party  Conservative  fraud  money  laundering  London  UK  vested  interest  lobby  HMRC  tax  evasion  avoidance  Theresa  May  JAM 
april 2018 by asterisk2a
Russian millions laundered via UK firms, leaked report says | World news | The Guardian
... and efforts to dampen business, white-collar crime, are blocked by nasty party Tories> Magnitsky clauses; https://news.err.ee/678812/ministry-of-the-interior-yet-to-implement-magnitsky-list-restrictions &! https://twitter.com/AnnelieseDodds/status/968520435431346176 - Govt just took unprecedented move of halting a bill committee- to avoid consideration of new measures to introduce Magnitsky clauses and tighten action vs money laundering. A new constitutional low, even for this govt! #McMafia #ParadisePapers
money  laundering  UK  London  governance  self-regulation  regulation  regulators  banking  tax  evasion  avoidance  capitalism  profit  maximisation 
february 2018 by asterisk2a
Former social mobility chief condemns government record | Society | The Guardian
Former social mobility chief condemns government record
Alan Milburn says ministers lack ability and willingness to deliver on ‘crunch issue for our country’
UK  social  income  mobility  inequality  poverty  trap  Super  Rich  1%  London  No  Representation  BAME  Brexit  postcode  lottery  education  policy  Austerity 
january 2018 by asterisk2a
A bad day at the office for Theresa May - BBC News
PR stunt of burning injustice infront of No10 till this week ParadisePapers. Absolute shambles. Prime Minister of No One https://www.theguardian.com/commentisfree/2017/sep/28/theresa-may-capitalism-jeremy-corbyn-conference & http://uk.businessinsider.com/theresa-may-defends-free-market-capitalism-after-jeremy-corbyns-criticism-2017-9 &! http://www.bbc.co.uk/news/business-41419858 // But there is an atmosphere around the government right now that everything is going wrong.
One minister says what's happening is "just astonishing", another Tory MP said "if it were Ed Miliband as leader of the opposition they'd be 15 points clear".
Another said "I've never seen anything like it", predicting that the government might even fall apart, precipitating an election next year, Jeremy Corbyn as prime minister and Brexit never coming to pass.
The Westminster rumour mill loves nothing more than to predict drama, even Armageddon.
ParadisePapers  Theresa  May  UK  PanamaPapers  tax  evasion  taxation  Austerity  avoidance  London  Tories  nasty  party  Conservative  Brexit  neoliberalism  neoliberal  Capitalism 
november 2017 by asterisk2a
UK's low pay culture traps people in poorly paid jobs, study finds | Society | The Guardian
http://www.bbc.co.uk/news/business-41669991 - high tech, low life. // in-work poverty, gini coefficient takes into account pensioners. // “Britain has one of the highest proportions of low-paid work in the developed world. And while three-quarters of low-paid workers did manage to move into higher-paying roles at some point over the past decade, the vast majority couldn’t sustain that progress. This lack of pay progress can have a huge scarring effect on people’s lifetime living standards. [...] “Britain’s flexible workforce gives us global economic advantage but a two-tier labour market is now exacting too high a social price.
OECD  poverty  trap  social  income  mobility  Precariat  class  UK  zero  hour  contracts  part-time  Exploitation  neoliberalism  workers  trade  union  rights  skills  skill  gap  Productivity  output  London  economic  history  recovery  GFC  underinvestment  stagflation  secular  stagnation  Austerity  education  inequality  tax  credit  taxcredit  gini  Coefficient  standard  of  living  Brexit  inflation  disposable  discretionary  spending  debt  household  child  profit  maximisation  competitiveness  IMF 
october 2017 by asterisk2a
Millennials spend three times more of income on housing than grandparents | Society | The Guardian
Millennials are spending three times more of their income on housing than their grandparents yet are often living in worse accommodation, says a study launched by former Conservative minister David Willetts that warns of a “housing catastrophe”. [....] They are four times as likely to rent privately than two generations ago, a sector which has the worst record for housing quality, the report claims.
Millennials  UK  housing  crisis  affordable  social  Generation  Rent  Generationengerechtigkeit  babyboomers  baby  boomers  disposable  discretionary  income  Spending  Generationy  GenY  oligopol  oligopoly  Corruption  lobby  vested  interest  bubble  underinvestment  Austerity  debt  revolving  door  asset  distortion  London  Productivity  output  gap  skills  student  loan  GFC  mortgage  risk  recovery  secular  stagnation  lost  lostdecade  decade  history  Margaret  Thatcher 
september 2017 by asterisk2a
London’s exodus offers a stark warning to other UK cities: your culture is at risk | Kate Hardy and Tom Gillespie | Opinion | The Guardian
People are moving away from the capital, due in part to its cultural stasis. Other cities will go down the same road unless they invest in people, not property
London 
august 2017 by asterisk2a
Where have all the movers gone? - Council of Mortgage Lenders
It should be known by now that the policy of a home owning democracy supported by London and exploited by London was and is and will be a catastrophe to the productivity and skills of this economy. Because of the misdirected money flows into unproductive houses (capital, asset for retirement, welfare, social mobility of kids). To the contrary of Germany. When policy of capital investment is geared towards poductive investments, assets, capital, skills, expansion, R&D. And where renters have rights! //&! https://twitter.com/resi_analyst/status/880801297208889344 - The housing ladder only worked because of the unique economic conditions of the late 20th century. It's now broken and unlikely to recover. & https://twitter.com/tomhousing/status/881775765033025536 - and houses don't pay taxes (NI, pension pot).
Housing  Crisis  Generationengerechtigkeit  Generation  Rent  mortgage  ZIRP  QE  NIRP  UK  Lobby  Lobbying  Policy  speculation  ROI  underinvestment  malinvestment  productivity  output  gap  skills  economic  history  Brexit  London  shareholder  profit  maximisation 
july 2017 by asterisk2a
(1928) Keiser Report: Financialized Economy (E1088) - YouTube
All the Plenary’s Men // tbtf is a protection racket!!! (FSB, SFO, systemic relevant banks) & laws - immunity from protection - protects people from prosecution. ... tbtf "global banking cartel" - they can to no wrong. more powerful than the gov. sovereign power.
HSBC  money  laundering  London  GFC  compliance  oversight  self-regulation  regulation  regulators  George  Osborne  benbernanke  FSB  BIS  BOE  centralbanks  SFO  fraud  UK  USA  ECB  systemic  White-collar  crime  banking  TBTF  toobigtofail  bank  bailout  Transparency  accountability  Russia  War  on  Drugs  corruption  lobby  tax  evasion  avoidance  terrorism  terror  ethics  governance  abuse  Military–industrial  complex 
june 2017 by asterisk2a
Britain’s economy is broken. We desperately need new ideas | Tom Kibasi | Opinion | The Guardian
If the country was economically bankrupt in 2010, it is intellectually bankrupt in 2017. On the eve of the general election, politicians of all parties have rarely been so devoid of progressive ideas [...] Yet in substance, May’s approach remains mere tinkering at the edges of economic policy. The Conservatives remain stubbornly allergic to – or ignorant of – Keynesian macroeconomics. [...] [and housing and real estate lending distorting the lending picture. houses are not productive! R&D, and firms are. and creating long-term jobs w real incomes to spend (not remortgaging your home bc of housing bubble]
Brexit  GE2017  London  Housing  Bubble  piggybank  Forex  British  Pound  recovery  GFC  Manufacturing  Services  Consumerism  Zombie  Austerity  underinvestment  confidence  fairy  Productivity  output  gap  QE  ZIRP  NIRP  banking  investment  distortion  lending  property  UK  Living  Standard  wage  income  growth  inflation  £ 
june 2017 by asterisk2a
The Biggest Real Estate Bubble Of All Time Just Did The Impossible | Zero Hedge
There are two things at work here. The natural resource distortion to the real economy. And the Super Rich and Criminals and Asia/China who are desperate to divest and park their riches in democracies and rule of law and hard "assets"
Canada  bubble  property  Super  Rich  1%  money  laundering  Asia  China  Russia  Brazil  corruption  G20  speculation  speculative  London  CAD  immigration  Student  Plutocracy  Oligarchy  tax  evasion  avoidance  QE  ZIRP  NIRP  unintended  consequences  Fed  BOE  ECB  organised  crime  war  on  drugs  natural  resources 
june 2017 by asterisk2a
London attack: Theresa May says enough is enough after seven die - BBC News
https://twitter.com/iyad_elbaghdadi/status/871490728396038145 & https://www.theguardian.com/commentisfree/2017/jun/04/theresa-may-british-values-muslims-terror-threat - Speaking in Downing Street after a meeting of the government's emergency Cobra committee, the prime minister said the country "cannot and must not pretend that things can continue as they are".
"We believe we are experiencing a new trend in the threat we face as terrorism breeds terrorism," she said.
Mrs May said the UK's counter-terrorism strategy would be reviewed, as she promised to step up efforts to combat Islamist ideology and work with other countries to prevent the internet being a "safe space" for terrorists.
She said there was "too much tolerance of extremism in our country" and while it would involve "some difficult and embarrassing conversations", that must change. [...] Some analysts see this as a last desperate bid by IS to its supporters, following multiple setbacks in the Middle East where its self-proclaimed caliphate is shrinking fast. However, the ideology of IS is likely to survive those defeats and will continue to fuel terrorist attacks around the world. [...] With three attacks in close proximity, terrorism against soft targets is beginning to feel, to some people, like the new normal.
The brutal reality is that this kind of threat is absolutely typical of what jihadists sought to achieve in all their attacks across Europe.
UK  War  on  Terror  Manchester  London  Theresa  May  Muslim  Islam  Extremism  radicalism  radicalisation  ISIS  Al-Qaeda  jihadist  jihadism  jihadi  ideology  Middle  East  Syria  Iraq  Afghanistan  Populism 
june 2017 by asterisk2a
UK government's draft air pollution plan expected on Friday | Environment | The Guardian
class action suit by asthma sufferers. how many kids come to GP or A&E because of worsening asthma?!
air  pollution  asthma  UK  London  public  health  economics  GP  A&E  NHS 
may 2017 by asterisk2a
Tory candidate defends spending up to £1m on West Midlands mayor campaign | Politics | The Guardian
; a new start in democracy for this region. << it's not devolution and mayors is a scam, just shifting blame. tokenism. bread crumbs. [political communication: framing the argument/policy/change/change management/positioning] tokenism for neoliberal capitalism austerity accelerated times of globalisation and the weak suffer what they must.
Devolution  Manchester  Liverpool  London  Tories  Conservative  Party  nasty  Mayor  West  Midlands  UK  Council  Election  GE2017  Andy  Street  oligarchy  plutocracy  1%  Theresa  May  Super  Rich  Austerity  Privatisation  democracy  neoliberal  neoliberalism  tax  avoidance  evasion  capitalism  globalisation  Brexit  history  tokenism  Politics  Career  Politicians 
may 2017 by asterisk2a
Why exporting isn't just about shipping - BBC News
Barriers to services trade have proved to be harder to deal with.
They come in the form of regulation - not the tariffs or taxes that impinge on commerce in goods. [...] So liberalising services trade is more complicated than it is for goods. [...] The World Trade Organization's rulebook includes something called the General Agreement on Trade in Services, or GATS.
WTO member countries have made commitments during past negotiations about the extent to which they allow foreign suppliers access to their services markets. These vary from country to country and are listed in "schedules" attached to the agreement. [...] EU won't make commitments on allowing foreign suppliers to provide some key publicly funded services, including health and education.
UK  Brexit  Services  City  of  London  trade  deal  Regulation  EU  WTO  TiSA  European  Union 
april 2017 by asterisk2a
Bank of England orders financial firms to draft Brexit contingency plans | Business | The Guardian
uk may have to pay for, to keep, passporting rights, while euro clearing has to move to mainland.
Brexit  BOE  Mark  Carney  City  of  London  banking  insurance  finance  service  law  passporting  tax  evasion  avoidance  HMRC  money  laundering 
april 2017 by asterisk2a
Paxman vs Boris on Newsnight - YouTube
Boris explains trickle-down // "they need better education" tories cut education real terms and now teachers ask for toilet paper, pens, and cut culture! a bare minimum education. for culture you have to be better off. after all, there are now no museums and libraries in your town.
Tories  Conservative  Party  nasty  Austerity  inequality  UK  gini  Coefficient  Deprivation  JAM  Theresa  May  David  Cameron  George  Osborne  Education  Policy  social  income  mobility  poverty  trap  Precariat  working  poor  Council  Library  Museum  Culture  class  bank  bailout  London  competitiveness  taxation  1%  10%  Boris  Johnson 
april 2017 by asterisk2a
Leading City firms begin to lay groundwork for London jobs exodus | Business | The Guardian
A growing number of leading City firms have revealed they are now laying the groundwork for an exodus of thousands of jobs from London after Britain’s vote to leave to EU.

Just a day after Theresa May formally triggered the process for Brexit it was confirmed that the insurers Lloyd’s of London and Royal London are setting up subsidiaries outside the UK, while the investment banks JP Morgan and Citigroup are actively exploring the relocation of key operations.
Brexit  London 
march 2017 by asterisk2a
Councils 'face funding gap' to fix roads - BBC News
One in six roads across England and Wales are in such a bad state they must be repaired within the next five years, according to local authorities. Only London comes close to this, with the capital's roads repaired every 23 years on average. The frequency of road surfacing in England is 55 years, while in Wales it is 63 years.
Alan Mackenzie, chairman of the AIA, said the message from the survey was that "highway teams simply do not have enough money to arrest the terminal decline in the condition of our local roads and the network is not resilient enough to meet the challenges ahead".
UK  Austerity  Council  London  infrastructure  investment  underinvestment 
march 2017 by asterisk2a
Wendy Houvenaghel: British Cycling had 'medal at any cost' culture - BBC Sport
British Cycling subsequently admitted it did not pay "sufficient care and attention" to the wellbeing of staff and athletes at the expense of winning medals, an approach Houvenaghel attested to in her BBC interview.
IOC  UCI  Olympics  Doping  British  Cycling  UK  well  being  mental  health  public  London  2012  Sport  business  of 
march 2017 by asterisk2a
Here's Why A Slowdown In Earnings For The Top 1% Is A Problem For The UK - BuzzFeed News
“Fifteen years without a pay rise,” IFS director Paul Johnson said. “I’m rather lost for superlatives. This is completely unprecedented.” [...] If the top earners make less, the government brings in less tax revenue; it’s as simple as that. And with Brexit looming, the exchequer needs to raise all the funds it can.
UK  Budget  wage  growth  Austerity  living  standard  income  social  mobility  productivity  output  gap  Philip  Hammond  Theresa  May  George  Osborne  secular  stagnation  inflation  discretionary  disposable  credit  card  creditcard  household  debt  Consumer  Consumerism  consumerist  materialism  Brexit  London  1%  10%  NIC  welfare  state  underinvestment  gini  Coefficient  Tories  nasty  party  Conservative 
march 2017 by asterisk2a
Budget 2017: Asset sales to thank for UK's figures? - BBC News
'we are not paying our way in the world' -- highlight the cheat the Tories are. 1 sale of national assets to lower debt. still horrible trade balance deficit now w even weaker pound. And not mentioned the recovery supported greatly by household debt bubble and mortgage party. GDP per capita, wage growth v inflation, living standard, current account deficit, underinvestment/austerity in edu and health (see imf paper), ... UK becoming a basket case.
Budget  Tories  Conservative  PFI  Assets  George  Osborne  Theresa  May  Manufacturing  underinvestment  Philip  Hammond  London  Services  nasty  party  ZIRP  NIRP  QE  household  debt  consumer  credit  card  creditcard  mortgage  housing  bubble  Productivity  output  gap  skills  STEM  education  policy  Austerity  current  account  deficit  GFC  bank  bailout  GDP  per  capita  IMF  technological  unemployment  David  Cameron  social  mobility  income  wage  growth  downward  gini  Coefficient  child  poverty 
march 2017 by asterisk2a
STEVE KEEN on Private Debt - YouTube
the trick is up for tory austerity soon, when the private debt/household debt bubble bursts. and or the uk economy comes to a standstill. /// London has driven out the real wealth creators - https://www.youtube.com/watch?v=Dyk1t4wEDAE - democracy by houses, bc renters have no rights, &! Money , banks, debt seems not to matter in status quo economics - Prof Steve Keen on Parasitic Banking Sector London School of Economics - https://youtu.be/Kh99jEE18KY GFC recovery is not recovery it is Japanese style stagnation! ex imigration¬!
UK  London  Margaret  Thatcher  private  debt  Consumer  household  mortgage  GFC  recovery  Brexit  discretionary  spending  disposable  income  reflate  reflation  ZIRP  NIRP  QE  Austerity  service  sector  working  poor  squeezed  middle  class  leverage  economic  history  living  standard  wage  growth  mobility  social  inequality  Gini  Coefficient  tax  evasion  avoidance  HMRC  payday  loan  trickle-down  Tories  nasty  party  Conservative  George  Osborne  David  Cameron  JAM  Theresa  May  Philip  Hammond  IMF  OECD  neoliberalism  crony  capitalism  Exploitation  corporatism  Consumerism  materialism  GDP  underinvestment  ROI  BOE  Mark  Carney  Steve  Keen  book 
march 2017 by asterisk2a
More than politics, Theresa May’s true strength is her grasp of British culture | Rafael Behr | Opinion | The Guardian
While John Major and Tony Blair struggle with their Brexit defeat, the prime minister has read the national mood and is successfully navigating it // SHE IS NAVIGATING IT? OTHERS WOULD SAY like Blair SHE SITS THERE AS PASSENGER. // Culture and identity tend to be treated as peripheral expressions of whatever is happening in the economy, which is sometimes true but not always. May understands that. She is a more astute culture warrior than economist, and for now that is serving her well. // HAPPY TO DO HARD BREXIT EVEN IF IT HURTS THE ECONOMY "make the best of it" // To win power from New Labour, Cameron adapted to Blairish mode: self-consciously modern, socially liberal, metropolitan and relaxed about Europe. [...] There was always something absurd about “anti-establishment” language in the plummy tones of Boris Johnson or Nigel Farage. But their campaign did capture a rebellious spirit. Partly it was generalised frustration at the state of everything; partly it was counter-revolution – the backlash by people who sensed that their lives, interests and anxieties were the punchline to a joke at a fancy London dinner party. [...] liberals haven’t grasped the scale of their defeat. That is good for May, who navigates through the middle.
Theresa  May  Margaret  Thatcher  UK  Brexit  far-right  right-wing  alt-right  White  Supremacy  hate  speech  crime  immigration  refugee  asylum  Home  Office  Tories  nasty  party  Conservative  war  Nationalism  Patriotism  David  Cameron  Liberalism  Culture  Liberal  neoconservatism  neoconservatives  Racism  Xenophobia  LGBT  DonaldTrump  Donald  Trump  Elite  London  HRC  Hillary  Clinton  history  No  Representation  lobby  1%  10%  bank  bailout  Austerity  Super  Rich  Plutocracy  Oligarchy  Bill  Establishment  social  mobility  squeezed  middle  class  working  poor  income  wage  growth  Precariat  globalisation  globalization  uncertainty  welfare  state  Greed 
march 2017 by asterisk2a
Hi-tech financial firms flee UK amid doubts over Brexit | Politics | The Guardian
Leading ‘fintech’ player says ‘the exodus is beginning’ as members of £6bn industry start seeking other bases in Europe
Brexit  London  Start-Up  VISA  immigration  regulation  regulators 
february 2017 by asterisk2a
'It feels like a wilfully ignored secret': how commentators painted Stoke-on-Trent all wrong | UK news | The Guardian
(career) politician placards and journalists (headline grabbing) can only tell one-line slogan stories. ... for "ordinary people" there is just no space. and they can't make space for them. [...] Not many of these accounts left any room for complexity, nor any recognition of Stoke’s collective push for regeneration and revival, and plenty of local people greeted them with a mixture of anger and anxiety. [ also sold out to professional class, the ascendent as on the other side of the pond ]
Brexit  complexity  DonaldTrump  Donald  Trump  AfD  PEGIDA  economic  history  squeezed  middle  class  working  poor  Precariat  globalisation  globalization  underinvestment  Austerity  Storytelling  GFC  bank  bailout  trickle-down  inequality  social  mobility  structural  unemployment  underemployment  part-time  minimum  wage  living  standard  technological  Career  Politicians  book  Redaktionsschluss  Labour  Tories  Conservative  Party  nasty  NHS  Professional  London  Productivity  Services  Journalism  Journalismus 
february 2017 by asterisk2a
'Magical thinking' on Heathrow expansion - BBC News
"The implication of this is that they think other sectors of the economy like energy and industry are going to have to cut their carbon emissions even more so people can fly more - but the government's been told by its own advisors (the Committee on Climate Change) that's not possible."
Heathrow  Airport  London  air  pollution  noise  UK  climate  change  climatechange  globalwarming  global  warming  carbon  carbonemission  carbonfootprint 
february 2017 by asterisk2a
Leslie Thomas on England Riots - YouTube
Leslie Thomas // what has changed? not much. less stop and search. but root causes of londons estates that are like frances banlieues
2011  London  Riot  racism  BAME  UK  Brexit  inequality  Austerity  Gini  Coefficient  poverty  trap  working  poor  Precariat  education  policy  social  mobility  discrimination  Banlieue 
february 2017 by asterisk2a
Brex and the City – Brexit podcast | Politics | The Guardian
BREXIT SENDS SIGNAL YOU ARE NOT WELCOME. // Financial Services 70bn for Treasury (Philip Hammond), not including the english law services, (international) consulting, and all the contractors, shops, consumption coming from good salaries. London is biggest exporter, if ther would be no London, trade deficit £ would be twice as big. // http://www.bankofengland.co.uk/pra/Pages/authorisations/passporting/default.aspx
Brexit  London  Philip  Hammond  current  account  deficit  trade  banking  financial  services  passporting  rights  BOE  FSA  regulation  self-regulation  GFC  economic  history  FDI  underinvestment  regulators  bank  bailout 
february 2017 by asterisk2a
Brexit has allowed the banks to get off Britain's naughty step | Business | The Guardian
The even better news for the banks is that they are no longer hated. Far from it. Much of the concern about how the UK will survive outside the EU has centred on the future of the City. For years, the banks have been trying to find a way of getting themselves off the public’s naughty step. Brexit has provided them with an opportunity that has been seized with relish. The City has played the post-referendum game masterfully. [...] The recession that the banks caused and the austerity that resulted created the sense of “them and us” – the notion of an unbalanced and unequal Britain – that led to Brexit. [...] constant demands that the government secures passporting rights to allow UK authorised institutions to operate freely across the EU27.
Brexit  banking  London  The  City  GFC  bank  bailout  corporatism  crony  neoliberalism  profit  maximisation  self-regulation  Regulation  regulators  BOE  FSA  trade  deal  UK  USA  Austerity  Finance  Services  economic  history  recovery  HMRC  tax  evasion  avoidance  capitalism  Lobby 
january 2017 by asterisk2a
Brexit and the UK's role in 2017 - YouTube
UK joined EU for practical economic reasons, as it was sick man of europe and europe itself outgrew UK. Now UK makes irrational economic self-harm bc it doesnt see EU as strong any more, the rest is stronger and wont be bound by EU. // Theresa May to be unremarkable PM. Accidental Brexit PM. ... bc of ineptitude of Labour and majority of Press Landscape backing Brexit.
Brexit  DonaldTrump  Donald  Trump  technological  unemployment  immigration  working  poor  globalisation  globalization  London  squeezed  middle  class  Precariat  identity  politics  Religion  living  standards  inequality  poverty  underemployed  underemployment  gig  economy  self-employment  gini  coefficient  Super  Rich  Austerity  1%  Plutocracy  Establishment  Liberal  Elite  social  mobility  wage  growth  income  stagnation  recovery  GFC  bank  bailout  Theresa  May 
december 2016 by asterisk2a
Economic output per person in London more than double rest of UK | Business | The Guardian
Official figures showed gross value added (GVA) per head – a measure of what is generated by economic activity in an area – was higher in London than any other region in 2015 at £43,629. That dwarfed the figure for the lowest region, Wales, at £18,002 and was also doublethe level of £21,638 for the UK without London.
London  Brexit  UK  agglomeration 
december 2016 by asterisk2a
James O'Brien vs HS2 - YouTube
econ of agglommeration - will draw more to london than london to north
HS2  infrastructure  investment  underinvestment  UK  competitiveness  competitive  London  Productivity 
october 2016 by asterisk2a
'Significant' risk to UK firms if passporting rights lost after Brexit | Business | The Guardian
Treasury publishes FCA data showing over 8,000 companies authorised in other EU states use these rules to do business in UK
Brexit  London 
september 2016 by asterisk2a
Hard Brexit will cost City of London its hub status, warns Bundesbank boss | World news | The Guardian
Passporting rights to operate across EU will be lost if UK does not at least stay within the European Economic Area, says Jens Weidmann // tax blackhole = more austerity
Brexit  London  UK  austerity 
september 2016 by asterisk2a
How the other three-quarters live | The Economist
London and the south-east power Britain’s economic growth. But the rest of the country is getting richer quicker // post-hard-Brexit = more Austerity! bc no access to single market and pass porting rights
Brexit  Austerity  London  Theresa  May 
september 2016 by asterisk2a
Growing calls for federal UK in wake of Brexit vote
[ out of a constitutional crisis the day after euref w pm quitting - should seek a new UK in a new world, different world ] According to Mr Fraser, the answer is federalism. An entrenched Scottish Parliament, an English Parliament sharing time at Westminster, English city regions with administrative but not legislative power, the replacement of the House of Lords with a senate representing "each federated part of the UK."
I do not intend in these musings to examine this particular set of ideas too closely. My attention is more aimed at the other advocate of federalism this week, Labour's Kezia Dugdale.
federalism  Devolution  devo-max  Holyrood  Mayor  City  of  London  Scotland  Northern  Ireland  Northern  Powerhouse  Manchester  Indyref  2  Scottish  Independence  Scottish  referendum  Brexit  House  of  Lords  Whitehall  Westminster  No  Representation  Career  Politicians  politician  democracy 
july 2016 by asterisk2a
The U.K. Can’t Block Immigration If It Wants To Keep Its Finance Industry | FiveThirtyEight
The Brexit vote will force the next U.K. prime minister to make a significant choice: Whether to control immigration into the country, or preserve the pre-eminence of the country’s financial center, known as the City of London. Doing both appears to be infeasible. //&! https://twitter.com/ianbremmer/status/750424140268666880
Brexit  Freedom  of  Movement  City  of  London  UK  immigration  Single  Market  Article  50  European  Union  WTO  trade  agreement 
july 2016 by asterisk2a
Andrew Mazzone Interviews James K. Galbraith
banks like property! more likely to lend to finance property than SME/SMB investment. because that investment is not propped up by the government. [...] min 6 subprime & credit bubble since 80's << behaviour of lenders [...] sensible people were given fraudulent debt instruments (no self-regulation, and regulators failed). [...] no prosecution because people who should have prosecuted those, didn't want to ruin their private future career. [...] min 15 - inequality and unemployment driven by inequality. [...] austerity is name of the game by the "establishment" - 20% of society that benefited from the bank bailout and reflation policy by central banks - [...] 19:15 - who do banks want to borrow in this environment?! austerity, aggregate demand shortfall, lack of confidence, volatility, uncertainty, credit bubble pain (liquidity trap) etc. [...] Solution ("an alternative way to the status quo, who made this mess): Fix Income Distribution thus Purchasing Power (aggregate demand, ie minimum wage), and restructure finance away from investment banking and speculation and derivatives towards real economy (ie tax heavily what is not real economy business) //&! James K. Galbraith on "Inequality and Instability: What's Ahead for the World Economy" - youtu.be/Mw4Bd9ols-E //&! James K. Galbraith - "The End of Normal" - youtu.be/PGFcB65l8Io
Gini  coefficient  income  distribution  1%  10%  20%  Super  Rich  property  bubble  London  rentier  rent-seeking  Help  to  Buy  Scheme  Help  to  Save  Funding  for  Lending  Scheme  underinvestment  infrastructure  investment  secular  stagnation  western  world  UK  USA  European  Union  deflation  deflationary  JAMESGALBRAITH  book  James  Kenneth  Galbraith  credit  bubble  credit  card  credit  card  debt  credit  boom  debt  servitude  speculation  speculative  bubble  speculative  bubbles  equity  bubble  reflate  reflation  GFC  recovery  austerity  Raghuram  Rajan  self-regulation  squeezed  middle  class  working  poor  Precariat  subprime  Wall  Street  regulation  regulators  Career  Politicians  politician  No  Representation  aggregate  demand  aggregate  demand  short-fall  liquidity  trap  retail  banking  investment  banking  ZIRP  NIRP  QE  Richard  Koo  inequality 
july 2016 by asterisk2a
Smart Talk: Mark Blyth - Economic Austerity Cures Nothing
Karl Polanyi [...] limits of the market, what applies to family budget does not apply to state as whole or even global economy. [...] min 9 - UK can't go back. UK WILL HAVE HARD TIME TO REBALANCE ECONOMY! AWAY FROM FINANCE. IF NOT IMPOSSIBLE! If half the services and finance leaves london post-brexit. uk will be much much poorer down the line. [...] UNTIL THE 20% are hit, the talk will be that the other 80% (a part of society cut by class, age, ideology & identity = no collective) will have to adjust and is asked to just borrow more to afford your lifestyle (student debt)! FORECAST is for VOLATILITY, FRAGILITY, UNCERTAINTY, ... until the 20% gets hit. [...] min 14 people care about how they feel/emotions. not facts on whitepaper.
book  Mark  Blyth  austerity  City  of  London  financial  industry  Brexit 
july 2016 by asterisk2a
'Northern powerhouse' depends on productivity not rail links: thinktank | Business | The Guardian
In this post-referendum vacuum, Carney alone can't save the UK economy - Getting productivity going again will require more investment in innovation and our universities. It means more help for businesses that want to update their production lines, overhaul their IT systems or retrain their staff. Productivity will only improve if the UK addresses its skills shortages with sensible immigration policies and with better training. In an age of economic insecurity, training is key if the march of the robots is not to further exacerbate inequality. Similarly, the UK must get serious about moving to an apprenticeship system that has parity of esteem. - http://bit.ly/29cCmtq
Northern  Powerhouse  Brexit  apprenticeship  apprenticeships  UK  recovery  productivity  productivity  gap  output  gap  economic  history  Manufacturing  household  debt  consumer  debt  student  debt  City  of  London  George  Osborne  Policy  underinvestment  STEM  skills  gap  skills  economy  skills  shortage  structural  unemployment  long-term  unemployment  working  poor  Service  Sector  Jobs  Precariat  Gini  coefficient  inequality  poverty  child  poverty  austerity  infrastructure  investment  London  economies  of  agglomeration  competitiveness  comparative  advantage  competition  competitive  competitive  advantage  global  economy  globalisation  globalization  DWP  Iain  Duncan  Smith  GFC  Steel  Crisis  Steel  Industry  energy  price  University  Germany  education  education  bubble  AI  automation  Robotics  Robots  autonomous  car  self-driving  cars  autonomous  cars  augmented  intelligence 
july 2016 by asterisk2a
Brexit: Singapore bank UOB suspends London property loans
"With foreign exchange risks, even if the value of the overseas property rises, any gains will be eroded if the country's currency depreciates against the Singapore dollar," Mr Tok explained. // Chinese (and Asian) love their Betongold (most likely to be around 50% of their portfolio). Now in the hole because GBP lost 10%. But doesn't account for Yuan depreciation/devaluation.
Forex  GBP  devaluation  British  Pound  FX  Brexit  property  bubble  London  speculative  bubble  asset  bubble  asset  allocation  distortion  hunt  for  yield  Interest  Rate  Swap  Beton  Gold  Betongold 
june 2016 by asterisk2a
Keiser Report: Your Special Brexit Coctail (E932) - YouTube
// housebuilding shares hammered. property funds close redemption possibility bc of too much redemption - bank run - funds have to sell some investments at a loss to repay investors. // what is weighting UK economy is too much debt to gdp (bank bailout), consumer credit (boe sounded alarm bells before brexit vote) and too much leverage. //&! Planet Ponzi Paperback (2012) by Mitch Feierstein //&! UK better out w problems of PIGS, Italy, and banking problem.
Brexit  ZIRP  NIRP  QE  asset  allocation  property  bubble  speculative  bubble  speculative  bubbles  mortgage  market  City  of  London  RBS  BOE  Mark  Carney  Help  to  Save  Help  to  Buy  Scheme  Funding  for  Lending  Scheme  Right  to  Buy  distortion  George  Osborne  David  Cameron  Centrist  austerity  Housing  Crisis  Conservative  Party  book 
june 2016 by asterisk2a
Firms plan to quit UK as City braces for more post-Brexit losses | Business | The Guardian
The IoD said a quarter of the members polled in a survey were putting hiring plans on hold, while 5% said they were set to make workers redundant. Nearly two-thirds of those polled said the outcome of the referendum was negative for their business. One in five respondents, out of a poll of more than 1,000 business leaders, were considering moving some of their operations outside of the UK. //&! The chief executive of Deutsche Bank – which employs 11,000 in the City – has played down the long-term impact. John Cryan, who is British, told Handelsblatt: “The financial centre won’t die but it will get weaker.” - bit.ly/28WkoMZ
Brexit  recession  City  of  London  European  Union  FDI  foreign  direct  investment  GBP  current  account  deficit  budget  deficit  fiscal  deficit  austerity  monetary  policy  fiscal  policy  BOE  ZIRP  NIRP  QE  distortion  inflation  targeting  inflation  expectation  business  confidence  consumer  confidence  British  Pound  uncertainty 
june 2016 by asterisk2a
‘The City’, by Tony Norfield - Banking as seen from the belly of the beast
[ current account deficit only affordable (thus also living standards) bc of City of London ] This is a man who writes without irony about “financial parasitism”. In The City: London and the Global Power of Finance, he seeks to document just how the UK and the US extract their pound of flesh from the rest of the world by dominating the financial flows that make international trade possible.

He argues that London’s leading role in foreign exchange trading, derivatives and overseas lending is an extension of its imperialist past. Creating complex financial products and charging for them has enabled the sector to requisition for the UK and London — and, of course, bankers themselves — a disproportionate share of the benefits of global trade. [...] [ extracting value from around the world channelling it back ] &! Novara Media interview - bit.ly/297c6D3
Brexit  City  of  London  banking  business  investment  banking  current  account  deficit  GBP  derivatives  financial  product  financial  services  Global  Finance  British  Empire  Imperialism 
june 2016 by asterisk2a
CURRENT ACCOUNT DEFICIT ON THE BALANCE OF PAYMENTS: THE MOST DAMNING STATISTIC!
If you want to understand how an economy is performing and how sustainable its economic growth then look at the current account balance. Officially it is often ignored and there are attempts to play down its significance. After all it is always only just a few years away from an election so the very short term is considered much more important than the long term strength and economic health of the economy. Dire straits is not an underestimate of the current damaged state of the UK economy and indeed many other western economies. [ affordable only bc of City of London (Banking and Co.)! - bit.ly/297c6D3 - Novara Media - The City: In Conversation with Tony Norfield ]
UK  current  account  deficit  trade  deficit  fiscal  deficit  Brexit  western  world  secular  stagnation  inflation  targeting  nominal  GDP  targeting  austerity  aggregate  demand  USA  Manufacturing  industrial  policy  energy  policy  GBP  City  of  London  book  British  Empire  unitedkingdom  standard  of  living  living  standard  economic  history 
june 2016 by asterisk2a
This Sceptic Isle Peter Hitchens Explains why Britain should leave the EU
"UK is finished" - Owen Jones meets Peter Hitchens - full length - https://youtu.be/wrwuk6NoMv8 //&! The EU is the Continuation of Germany By Other Means (Peter Hitchens) - youtu.be/LyaD_e72FRw //&! Peter Hitchens: Why I Changed My Mind (Radio 4, 25/5/16) - youtu.be/RAHxlwr3Fzo //&! Immigration and Multiculturalism. (Peter Hitchens) - youtu.be/VoH6dKX3bNM //&! "European elites drew wrong conclusion after WWII". (Mark Steyn) - youtu.be/Uk5I9DNnPhk - is also a climate sceptic. //&! Peter Hitchens - Panel on Conservatism (Start the Week, BBC Radio 4). Peter Hitchens with Margo James, Thomas Frank and Douglas Murray. - youtu.be/375WSnWEn-I
Brexit  multiculturalism  immigration  European  Union  sovereignty  sovereign  Brussels  democracy  demos  European  History  UK  economic  City  of  London  Peter  Hitchens  conservatism  Conservative  Party  Islam  Muslim  Islamic  Law  Sharia  Law  neoconservatism  neoconservatives 
june 2016 by asterisk2a
The economics of Brexit – Politics Weekly podcast
Leave Campaign, so far, has failed to assure voters that we get through the quiet possible tubulences and uncertainty unharmed severely after 1-2 years. [ economic forecasts/predictions are Wall Streets cottage industry ] Brexit for sure would throw Osbornes plan for a surplus in 2020. ... brexit is about less regulation free trade low tariffs, 'get off the back of our City [London bank regulation]' [low tax, higher pay] George Osborne ... // banks have not voiced their voice loudly because that would be seen by people who bailed them out to tune of doubling the deficit, and still own bank shares ie loyds. it could be seen disingenuous, outrageous, as we are still in doldrums, paying off their debt, and suffering through austerity where the most vulnerable are cut away from society.
Brexit  George  Osborne  economic  damage  economic  growth  economic  security  economic  slack  economic  slowdown  economic  harm  macroeconomic  policy  microeconomic  policy  trade  agreement  free  trade  regulation  David  Cameron  Whitehall  Westminster  economic  forecast  Wall  Street  European  Union  Career  Politicians  EEA  free  movement  of  people  immigration  migration  austerity  general  election  2020  general  election  2015  Tories  Conservative  Party  nasty  neoclassical  economics  neoliberal  neoliberalism  Chicago  School  trickle-down  economics  self-regulation  deregulation  regulators  MervynKing  Mark  Carney  BOE  IMF  retail  banking  investment  banking  City  of  London  bank  bailout  GFC 
april 2016 by asterisk2a
EU referendum: Leaving EU could lead to 'less growth', says Carney – live
Mark Carney [Brexit] could lead to lower growth. In evidence to the Lords economic affairs committee, he also defended the Treasury’s report about the long-term implications of Brexit, saying it made “broad sense”, and said the City could lose its status as a a pre-eminent financial centre if the UK left the EU. Carney is still giving evidence, but is now discussing other issues. My colleague Nick Fletcher will be keeping an eye on it in the business live blog. [...] "There is a range of plausible scenarios including ones where the combined effects of the exchange rate move and its drivers on aggregate demand, aggregate supply and exchange rate pass through lead to a lower path for growth and a higher path for inflation." [...] Carney says City 'less likely' to maintain its pre-eminent position if UK leaves the EU [...] Carney says uncertainty created by referendum seems to have had negative effect already &! bit.ly/22Mlfmy
Brexit  Mark  Carney  BOE  City  of  London 
april 2016 by asterisk2a
What do people in Cornwall think about Brexit? - BBC Newsnight
farmers would go bankrupt if they would not have agricultural subsidies from Brussels. and since 2000, (2000-2014) 888m has been put into Cornwall (regeneration). and a further 400m is planned to be put in more till 2020 (2014-2020).
Brexit  UK  deprivation  tourism  poverty  poverty  trap  globalisation  globalization  Deindustrialization  deindustrialisation  redistribution  City  of  London  economies  of  agglomeration  economies  of  scale 
april 2016 by asterisk2a
Gamze Bulut: Olympia-Zweite unter Dopingverdacht - SPIEGEL ONLINE
Das Olympiafinale von London 2012 über 1500 Meter scheint sich im Nachhinein als Farce zu erweisen: Nach der damaligen Goldgewinnerin ist auch eine weitere Medaillenläuferin nun unter Dopingverdacht geraten.
Doping  IAAF  IOC  Olympics  Turkey  national  identity  Nationalism  business  of  sport  biological  passport  London  2012  Rio  2016 
march 2016 by asterisk2a
Keiser Report: Sovietization of capitalism (E723) - YouTube
BIS 100% of private debt and finance sector larger than 3.9% of economy bad ... and siphoning off talent from more productive fields of work. And finance favours lending to property and land (low productivity). [...] financial products (derivatives) do not help economy. is just a financial product, fee collection. rentier! rent-seeking behaviour! fees fees fees. (JP Morgan, 89% of profits, see interview) [...] QE reflated asset prices/share prices! // In the second half, Max interviews David Graeber about his new book, The Utopia of Rules: On Technology, Stupidity and the Secret Joys of Bureaucracy.
private  debt  consumer  debt  household  debt  BIS  Wall  Street  recovery  zombie  banks  car  loan  credit  card  debt  student  loan  debt  student  loan  Bubble  student  debt  economic  history  GFC  secular  stagnation  UK  City  of  London  USA  investment  banking  retail  banking  BOE  Fed  macroeconomic  policy  microeconomic  policy  property  speculative  bubbles  speculative  speculation  productivity  output  gap  austerity  George  Osborne  dogma  ideology  constituency  Party  Funding  vested  interest  interest  groups  mortgage  market  Housing  Crisis  Help  to  Buy  Scheme  Help  to  Save  Funding  for  Lending  Scheme  Right  to  Buy  Buy-to-Let  subsidies  subsidizing  derivatives  financial  product  rent-seeking  rentier  QE  ZIRP  NIRP  reflate  reflation  Mark  Carney  fiscal  policy  monetary  policy  Richard  Koo  book  David  Graeber  MervynKing 
march 2016 by asterisk2a
Central bankers on the defensive as weird policy becomes even weirder | Business | The Guardian
Growth is tepid, productivity is poor, and inflation is too low: all is not going according to policymakers’ masterplans [...] As far as the OECD is concerned, monetary policy is being forced to take too much of the strain. Its chief economist Catherine Mann made the point that lasting recovery required three things: stimulative monetary policy; activist fiscal policy; and structural reform. The OECD wants the second of these ingredients to be added to the recipe in the form of increased spending on public infrastructure, something it says would more than pay for itself at a time when governments can borrow so cheaply.
monetary  policy  G20  fiscal  policy  monetary  stimulus  monetary  system  monetary  transmission  mechanism  liquidity  trap  UK  western  world  USA  Japan  Abenomics  George  Osborne  Angela  Merkel  Wolfgang  Schäuble  Pact  Schuldenbremse  economic  history  recovery  secular  stagnation  productivity  underinvestment  MarioDraghi  ZIRP  NIRP  QE  ECB  BOE  Fed  Taper  deflationary  deflation  nominal  GDP  targeting  inflation  targeting  zombie  banks  MervynKing  zombie  corporations  zombie  consumer  Richard  Koo  Gini  coefficient  inequality  squeezed  middle  class  wage  stagnation  discretionary  spending  distortion  property  bubble  disposable  income  productive  investment  austerity  business  confidence  foreign  direct  investment  consumer  debt  household  debt  credit  card  debt  car  loan  student  loan  debt  student  loan  policy  folly  policy  error  short-termism  Career  Politicians  neoliberalism  neoliberal  trickle-down  economics  self-regulation  City  of  London  investment  banking  retail  banking  OECD  IMF  KennethRogoff  hot-money  hunt  for  yield  asset  bubble  asset  allocation  speculative  bubbles  speculative  speculation  reflate  reflation  financial  repression  New  Normal  trust 
march 2016 by asterisk2a
EU referendum: Boris Johnson calls Cameron's Project Fact 'baloney' | Politics | The Guardian
"stay campaign is project fear" leave campaigners go without facts. [...] Chris Grayling, one of the six cabinet members who favour Brexit, had earlier dismissed a 28-page Cabinet Office report warning of what Cameron called a “decade of uncertainty” if Britain votes to leave, as “completely ludicrous”. Grayling accused his boss of running a “relentless campaign of fear”. Separately, employment minister Priti Patel, another prominent advocate for Brexit, ramped up the criticism of cabinet secretary Sir Jeremy Heywood’s decision to limit the support civil servants can provide to pro-Brexit ministers, describing it as “unconstitutional”. [...] Iain Duncan Smith “I have the highest opinion of the British people; [ //&! If it were a pure economic argument, where are the economists?! but it's about ideology, dogma and demagogy ... populism, propaganda, polarisation, manufactured consent, supported by right-wing media's manufactured consent ] &! bit.ly/1oKclJ1 &! Sturgeon - bbc.in/1TM6YGm
Brexit  campaign  Career  Politicians  David  Cameron  Boris  Johnson  Tories  Conservative  Party  nasty  democracy  UKIP  neoconservatism  neoconservatives  neoliberalism  neoliberal  trickle-down  economics  free  market  self-regulation  City  of  London  George  Osborne  Iain  Duncan  Smith  DWP  Westminster  Whitehall  No  Representation  Toff  Privileged  Establishment  dogma  ideology  demagogy  demagogue  manufactured  consent  far-right  Rechtsextremismus  Rechtsruck  right-wing  Polarisation  populism  propaganda  fearmongering  Fear  Nicola  Sturgeon  SNP  Labour  Party 
february 2016 by asterisk2a
Mervyn King: new financial crisis is 'certain' without reform of banks | Business | The Guardian
The former Bank of England governor says in his new book that imbalances in the global economy makes a crash inevitable [...] GFC was the fault of the financial system, not individual greedy bankers, in his new book, The End Of Alchemy: Money, Banking And The Future Of The Global Economy [...] “Without reform of the financial system, another crisis is certain, and the failure ... to tackle the disequilibrium in the world economy makes it likely that it will come sooner rather than later,” Lord King wrote. [...] global central banks were caught in a “prisoner’s dilemma” - unable to raise interest rates for fear of stifling the economic recovery, the newspaper reported. [... blame] broken financial system. [...] failure of a system, and the ideas that underpinned it, [...] “Only a fundamental rethink of how we, as a society, organise our system of money and banking will prevent a repetition //&! dailym.ai/21tPG5y
bank  crisis  banking  crisis  investment  banking  self-regulation  retail  banking  Greed  financial  product  regulation  regulators  City  of  London  George  Osborne  Mark  Carney  macroprudential  policy  property  bubble  austerity  liquidity  trap  secular  stagnation  job  creation  Service  Sector  Jobs  economic  history  GFC  neoliberalism  neoliberal  trickle-down  economics  free  market  ZIRP  NIRP  QE  faultlines  hot-money  hunt  for  yield  distortion  financial  repression  emerging  middle  class  emerging  market  Frontier  Markets  BRIC  China  Brazil  credit  bubble  2016  reflate  reflation  junk  bond  revolving  debt  household  debt  mortgage  market  consumer  debt  UK  IMF  OECD  credit  card  debt  car  loan  BOE  MervynKing  ECB  Fed  Europe  deflationary  deflation  Gini  coefficient  inequality  MarioDraghi  Taper  QT  bonuses  bonus  global  imbalances  structural  imbalance  Career  Politicians  lobbyist  lobby  Lobbying  revolving  door  New  Normal  speculative  bubbles  Richard  Koo  Fiscal  Pact  Schuldenbremse 
february 2016 by asterisk2a
David Cameron will be ousted regardless of EU referendum vote | Daily Mail Online
Just 50 Tory MPs needed to trigger vote of no confidence in Prime Minister Cameron dismissed as a 'lame duck' and could face coup after June's vote Cabinet rebel Iain Duncan Smith rubbishes PM's warning that Brexit would be 'gamble of the century' Work and Pensions Secretary says UK's future is more in danger inside EU //&! Iain Duncan Smith declares war on David Cameron: Leading Eurosceptic minister accuses the Prime Minister of having a 'low opinion' of Britons and mocks his 'pessimistic' campaign to stay in the EU - dailym.ai/1KVS11H
Iain  Duncan  Smith  George  Osborne  David  Cameron  Tories  Conservative  Party  nasty  Toff  Privileged  Establishment  straight  white  male  male  privilege  white  male  privilege  negotiation  diversity  Westminster  No  Representation  Career  Politicians  Boris  Johnson  Theresa  May  immigration  migration  UKIP  DWP  welfare  state  social  safety  net  austerity  neoliberalism  neoliberal  trickle-down  economics  free  market  City  of  London 
february 2016 by asterisk2a
George Osborne warns of further spending cuts in Budget - BBC News
[ LOL! ] But recent figures showing the UK economy was smaller than expected meant savings must be found in his Budget statement on 17 March, he said. [...] Mr Osborne said he would rather look for extra cuts now than risk breaking his own manifesto commitment to achieve a surplus in the budget by the end of this Parliament. The chancellor did not completely rule out raising taxes in the event of a further slowdown in growth, but said that now was not the time for "significant" tax hikes. [...] I'm absolutely clear we've got to root our country in the principle that we live within our means and that we have economic security." [...] "whole purpose of our economic plan was to have a budget surplus. [...] we got big challenges at home to make the economy more productive even as more people get work. [ because having part of your budget in the property bubble is so productive ] [...] I will do what is required to keep our country safe and secure." [ NOT CHANGING PLANS ie U-TURN ]
UK  secular  stagnation  austerity  Richard  Koo  Japan  economic  history  dogma  ideology  IMF  OECD  ChristineLagarde  economists  Paul  Krugman  Joseph  Stiglitz  Robert  Reich  David  Cameron  Tories  nasty  party  recovery  aggregate  demand  Conservative  macroeconomic  policy  microeconomic  policy  fiscal  policy  monetary  policy  Mark  Carney  BOE  City  of  London  HMRC  tax  evasion  tax  avoidance  self-employment  corporate  tax  rate  Service  Sector  Jobs  working  poor  multiplier  precarious  work  Precariat  low  pay  low  income  tax  credit  housing  benefit  income-based  JSA  Zero  Hour  Contract  Contractor  wage  stagnation  stagnation  DWP  Iain  Duncan  Smith  skills  gap  STEM  productivity  output  gap  Manufacturing  industrial  policy  neoliberalism  neoliberal  trickle-down  economics  Chicago  School  JohnMaynardKeynes  keynes  Keynesianism  Pact  Schuldenbremse  Wolfgang  Schäuble  Angela  Merkel  European  Union  property  bubble  apprenticeships  value  creation  added  value  underinvestment  productive  investment  infrastructure  investment  competitiveness  marginal  cost  energy  price  energy  policy  Hinkley  Point  C  nuclear  power  nuclear  waste  subsidies  subsidizing  corporate  welfare  lobbyist  lobby  Lobbyin 
february 2016 by asterisk2a
Thousands told their pension savings could be at risk - BBC News
[ fees ] It follows fears that dozens of companies providing auto enrolment pensions are too small to survive. The BBC has also uncovered evidence that employers and workers are being deliberately misled by some providers. The government said it was aware of the issue, and was planning to take action. Independent experts claim the problem could affect up to a quarter of a million people a year who are putting their savings into so-called master trust pensions. Such schemes are popular with the 1.8 million small employers with fewer than 30 staff who are currently signing up under the auto enrolment programme. "There is a risk of these schemes falling over; there is a risk that members might lose their money," said Andrew Warwick Thompson, executive director for regulatory policy at the Pensions Regulator. However, he said scheme assets invested through asset managers regulated by the Financial Conduct Authority (FCA) would be safe. This will be "the vast majority of cases", he said.
Tories  Privatisation  self-regulation  regulation  speculation  speculative  retirement  401k  pension  scheme  pension  obligation  pension  fund  public  pension  George  Osborne  David  Cameron  DWP  Iain  Duncan  Smith  Toff  Privileged  Establishment  Whitehall  Westminster  No  Representation  Career  Politicians  dogma  ideology  microeconomic  policy  labour  market  Conservative  Party  nasty  secular  stagnation  Generationengerechtigkeit  Wall  Street  profit  maximisation  shareholder  value  Millennials  generationy  generationx  babyboomers  City  of  London  GFC  oversight  Bank  FCA  Greed  regulators  trust  free  market  neoliberalism  neoliberal  policy  error  policy  folly  HMRC 
february 2016 by asterisk2a
Brexit-Befürworter träumen vom Singapur auf Steroiden - SPIEGEL ONLINE
Ohne EU geht es der britischen Wirtschaft besser: Das versprechen Brexit-Befürworter, die mehr Handel und weniger Bürokratie erwarten. Doch ihre Hoffnungen sind mit hohen Risiken behaftet. [...] Am Dienstag warnten die Chefs von rund 200 britischen Unternehmen wie Vodafone Chart zeigen, Jaguar Land Rover und Shell Chart zeigen mit einem offenen Brief in der "Times" vor dem sogenannten Brexit. Bei einer Umfrage der Bertelsmann-Stiftung sprachen sich vier von fünf Unternehmenschefs für einen Verbleib in der EU aus. Andernfalls, so die Brexit-Gegner, drohten Jobverluste und Unternehmensverlagerungen. [...] Handel: Schwellenländer statt EU
City  of  London  neoliberalism  dogma  ideology  neoliberal  neoconservatism  neoconservatives  trickle-down  economics  austerity  corporate  tax  rate  self-regulation  regulation  banking  crisis  bank  bailout  GFC  Brexit  UK  Career  Politicians  trade  agreement  BRIC  emerging  middle  class  emerging  market  Frontier  Markets  TTIP  TPP  AIIB  PR  misrepresentation  Positioning  spin  doctor  regulators 
february 2016 by asterisk2a
BBC News on the North South Divide with Tom Hunt - YouTube
multiplier effect of service sector job = 1 or lower. meaning need to access tax credits. //&! Northern Powerhouse dept to close Sheffield office and move 247 jobs to London. - Government business department shuts largest non-London office George Osborne’s ‘northern powerhouse’ policy questioned as branch closure in Sheffield casts doubt on chancellor’s pledge to revitalise English cities - bit.ly/1PDlgSA // also northern councils have to cut deeper than souther because of lower tax base!
Northern  Powerhouse  UK  Scotland  Westminster  London  George  Osborne  Devolution  job  creation  Service  Sector  Jobs  microeconomic  policy  macroeconomic  policy  knowledge  economy  knowledge  worker  transferring-wealth  transfer  payments  income  distribution  income  redistribution  low  income  low  pay  precarious  work  Precariat  part-time  recovery  GFC  Manufacturing  STEM  productivity  output  gap  macroeconomics  microeconomics  nasty  party  Conservative  David  Cameron  Toff  Establishment  post  code  lottery  health  inequality  inequality  Gini  coefficient  social  mobility  income  mobility  wealth  distribution  Privileged  education  policy  apprenticeships  vocational  education  austerity  Council  Public  Services  Services  SNP  Scotland  Bill  Fiscal  Framework  fairness  Generationengerechtigkeit  structural  unemployment  PR  spin  doctor  Positioning 
january 2016 by asterisk2a
BBC iPlayer - Britain's Trillion Pound Island - Inside Cayman
20bn£/year go through tax avoidance (legal through loopholes). = 20bn austerity for next 4-5 years this parliament from 2015. and was around the same from 2010 as Tories came to power forming coalition with lib dems. // who can pay for the lawyer and lobbyist - to implement loopholes. // its the gov that lets make the rules, by lobbyists. // (New Labour) Gordon Brown cut corp tax in his time by 5% and Osborne will have it cut by further 10% points in his two parliament sittings as chancellor. "You can't compete with Zero." << Cayman Islands (no infrastructure and no educated people) - vs. - UK (with infrastructure and educated people, social safety net, pensions). // ultimately, tax laws have to be changed in the local country, not cayman islands.
UK  offshore  banking  tax  avoidance  austerity  fairness  Generationengerechtigkeit  budget  deficit  Wall  Street  shareholder  value  profit  maximisation  lobbyist  lobby  Lobbying  Tories  Conservative  Party  nasty  HMRC  revolving  door  No  Representation  democracy  social  democracy  bank  bailout  GFC  crony  capitalism  capitalism  Greed  budget2015  budget2010  non-dom  Super  Rich  1%  oligarchy  plutocracy  City  of  London  poverty  income  distribution  income  redistribution  inequality  Gini  coefficient  social  mobility  income  mobility  Policy  Makers  Career  Politicians  Westminster  Council  Public  Services  Services  constituency  babyboomers  globalization  globalisation  neoliberalism  neoliberal  tax  evasion  loopholes  welfare  state  social  safety  net  corporate  tax  rate  trickle-down  economics  George  Osborne  David  Cameron  GordonBrown  Labour  Party  borderless  accounting  scandal  white-collar  crime  corporate  scandal  corporate  crime  IMF  OECD 
january 2016 by asterisk2a
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