The BBC reports (Tyne 7 October 2010) that late night shopping at Eldon Square (in Newcastle) will bring in an extra six and a half million visitors a year and boost the economy by an additional £246m a year. This strikes me as “Alice in Wonderland” thinking. Read more…
I can’t help but share some of the concerns expressed about the move away from universal benefits. However, I am also particularly concerned about the impact of this change when combined with the move to ensure that those earning less than £10,000 pay no (income) tax. Universal benefits should be matched by universal taxation. Read more…
So discussions are continuing and the press are baying either for a government or for Gordon Brown’s blood. They say “the markets” will take it very badly if we have not got a government by the time they open on Monday.
I would rather we took a few days longer to get a government that may last a few months longer – which is what happens elsewhere. Meanwhile, the press should remember that the Queen’s ministers must continue the government until a new one able to command a majority in the Commons emerges.
As for the markets, they need to seriously chill out a little. Read more…
It looks as if we are only experiencing a portion of the election campaign.
The IFS, quoted on the BBC News Website Parties defend spending cut plans 28 April 2010 15:17 shows that none of the parties have come clean on the economy.
This would seem to me to say that each party has a massive hidden (or at best unspecified) manifesto, and without sight of it we cannot make a responsible choice as to what is best for the country. So I guess that we will have to vote according to what seems best for our own pockets.
Just as well outside the marginals that our votes don’t count? In the marginals I suspect the campaigning will be getting very parochial.
What a lousy system and what a mess will be left after the result; possibly a government without a mandate, a whole lot of unaffordable promises and a massive amount of previously concealed spending cuts and tax rises on the way. Bound to raise confidence in the political system and the honesty of politicians.
But if a politician was honest enough to tell us the truth, what would happen?
We are told that Capitalism is the most effective way to run an economy, but I sometimes I have my doubts. One of those times is now.
The boss of Ryanair says he does not feel he has to meet his obligation to payout to his passengers stranded overseas – because the fares are so cheap. And he will take on the regulators: “Great opportunity for the airlines to expose this nonsense”.
The Airlines seem to be able to over-ride governments (and expect to be bailed out by them – i.e. us – at the same time).
A bank wraps up a load of dodgy mortgages which it expects to fail and flogs them to saps whilst at the same time allowing someone to lay a bet on them failing – and it takes a cut from which it pays bonuses.
Kenneth Clark says if we have a hung parliament the Bond Market will determine our future – and it won’t be pretty.
Do Governments govern or do markets and the global corporations rule?
Politics is dead, long live economics.