Posts Tagged ‘Economy’

Chancellor George Osborne Set To Turbo-Charge Government Spending Cuts!

Set free of the shackles and restraints placed on him by their Liberal Democrat partners in the last coalition government, Chancellor of the Exchequer George Osborne is acting like a caged Canary that suddenly finds the door left wide-open after 5 years of captivity!

A recent Guardian Article  asserts that Osborne is about to bring forward an extra 13bn pounds of departmental savings in addition to the 12bn welfare cuts that were promised but never detailed in the run-up to the 2015 General Election.

These welfare cuts are seriously needed if he is to reduce the deficit to zero before the 2020 election. What’s more, and to be fair to Osborne, the general public were not only informed of these impending cuts to welfare, but they also actually voted for them!

George Osborne means business

George Osborne means business

We have been promised a budget surplus by 2019 and he has to make inroads into the 90bn pound structural deficit as soon as possible. However this extra 13 billion pounds savings plan, to be implemented across all non-ring-fenced departments, has been brought forward and will begin in earnest.

Clearly the left wing parties will be outraged, they are all anti-austerity for various reasons, but mainly for their own self-interest – cutting civil servants and in some cases whole departments deprives the civil service unions of valuable members and subscriptions. But for the general public it means having to pay less income tax of which large chunks go toward paying interest on our national debts of over 1.5 trillion pounds. In their defence, the left argue that the interest charges on that borrowed money is such a low percentage – due to cheap money and Quantitative Easing – it would be better to fund those civil servants and many other projects. But Osborne knows that low-interest rates cannot last forever, he is fixing the roof whilst the sun is shining – we cannot be certain that another crash will not happen in the next 5 years, stock markets are over inflated, cheap money is helping the big corporations to buy back their shares, creating a bubble in share values – Osborne talks often about his “Long-Term Economic Plan” – but it isn’t just rhetoric – he really does have one and these significant cuts are the proof.

In my next article I shall detail George’s alternative plan to wipe-out the deficit and a third of the national debt in one swift sleight of the hand *intriguing yes?  

This weekend must rank as one of the worst for the Labour Party in the past 5 years.

The broadcasters have seized on press headlines attacking Ed Milibands leadership qualities (or lack of them) and further compounded his woes by quoting many of his detractors in his own party.

Claims that 50% Labour MPs have given up on the forthcoming General Election and instead are readying themselves for a bloody leadership battle after 7th May are credible.

All eyes are looking left, but at The Westminster Wing we see even larger problems looming for the Tories in the run-up to May’s elections.

Sajid Javid BBC Sunday Politics

Sajid Javid BBC Sunday Politics

On the BBCs Sunday Politics Show today, Secretary of State Sajid Javid gave a creditable performance despite Andrew Neil’s ‘Blue Nun’ fuelled aggressive questioning. Political editor of The Sun: Tom Newton Dunn tweeted..

Our own Sir Trev Skint went further:

But, there are only a handful of humble, Tory MPs possessed of the common touch. The vast majority are elitist,  narcissistic and conceited.

Ed Miliband’s bungling of Labour’s election campaign so far, aided by the Tory press, has given these presumptuous types a false sense of populism. It’s palpable, the British voting public will detect it very soon.

Ed Miliband could be in Downing Street through complacency

Ed Miliband could be in Downing Street through complacency

Yes David Cameron can point to improvements in the economy but, people are not feeling the benefits of these policies,  they take time to filter through.

Have the Tories peaked too soon thanks to Miliband’s ham-fisted,  self inflicted, atrocious start to his campaign? Could the voters turn in favour of the Labour underdogs if a large gap appears in the Tories popularity polling?

David Cameron needs to emulate Sajid Javid’s humble performances to reign-in his party’s over-confidence or there could be a dramitic turn in the polls, leading to Justine Thornton measuring up the curtains in Downing Street.

Charlie Mullins, founder of the hugely successful enterprise  “Pimlico Plumbers” and outspoken advocate of well-trained, well-paid tradesmen, 2015-01-19-19-33-29-684505543has hit out at employers, large and small, who pay below the minimum wage.

In an article for Real Business, Mullins says:

I was staggered to discover there are still firms out there, including some well-known names, which are still failing to pay the National Minimum Wage.

Most recently, 37 were named and shamed, which is a good thing, because any business who pays their people less than the minimum deserves to be put in the stocks and have their bad practices exposed.

And does anyone really believe major firms like retailer H&M and Welcome Break, the service station operator, when they say that staff were paid below the minimum wage as a result of H&M’s “time logging errors” and Welcome Break’s “IT problems”?

Seriously, if these company bosses are struggling to work out an hourly rate on a calculator, you have to wonder how they manage to guide these multi-million pound operations to ring up such large profits.

He went on:

I’m sure they’d pay much more attention if, instead of the paltry £51,000 fine these 37 firms received, their CEOs got a 12-month stretch at Her Majesty’s pleasure.

I do think it’s great that the government is attempting to crack down on businesses who fail to pay a minimum of £6.50 an hour to any staff aged over 21. But the fines of just £1,400 for each of the businesses in question are pathetic – especially when H&M racks up more than £600m in profit in three months alone.

Pimlico Plumbers are a model employer, their skilled staff, tradesmen and women, earn well above the minimum wage, some hard working employees can take home six figure salaries for their pound- of-flesh!

Margaret Thatcher would have been proud of Charlie Mullins, his kind of entrepreneurial quest was her elixir of life, her very reason to become a public servant.

Mullins is right of course – expensive tax credits do subsidise those employers who seek to exploit the taxpayer and gullible ministers. This current coalition is 2015-01-19-19-33-06-629630298ignorant to these “rogue employers” – preferring to encourage ‘jobs at any price’!

Charlie Mullins has many wise-words for employees and employers alike, but, without doubt, the last paragraph in his article should become part of the British Constitution:

In our country there are millions who are officially in poverty, and what’s making it even more shocking is that more than half of those people are in work.

For me, if you go to work every day you deserve a decent reward – no exceptions!