Tag Archives: New Labour
August 2, 2014Posted by on
Very occasionally as a Civil Servant I was required to provide a technical contribution to Parliamentary Questions (PQs), at a time when PQs really did allow Members of Parliament to hold the Government to account. The only role my contribution had to a PQ was to complement the response being prepared by a Mandarin. Anything that I may have written would have been lost in the revisions they underwent before reaching the likes of a Bernard Woolley or a Sir Humphrey Appelby. I was reminded of this when I revisited an old paper on Civil Service Mandarin. Read more of this post
November 20, 2013Posted by on
The role that economic theory plays in the ‘creation of money’ and the role played by all politicians in the manipulation of ‘economic theory’ for the purpose of a fiscal policy, bear little relationship to the social responsibility that Drucker applied to a private enterprise.
“The first responsibility of business is to make enough profit to cover the costs for the future. If this social responsibility is not met, no other social responsibility can be met.”
November 6, 2013Posted by on
The mantra of the previous New Labour Government was that it only borrowed money to invest. All borrowing became an investment and while the mantra may not be chanted by the present Government, the borrowing philosophy continues. Most people (I assume) would define an investment as:
October 9, 2013Posted by on
‘UK laws and the EU – A myth?’ dealt with claims that EU Directives and EU Regulations were now responsible for a large percentage of UK law. Claims that have now become UK lore. Regardless of this, they must have some influence on UK trade and commerce.
October 2, 2013Posted by on
I am not an economist or financial advisor, nor do I claim to write with any ‘personal professional authority’. However, I do write on economics and financial issues gleaned from – and linked to – professional sources. Writings which, perhaps, I should post as Cassandra – a metaphor for cases of valid alarms that are disbelieved. Read more of this post
September 25, 2013Posted by on
The 1979 Banking Act introduced by the Labour Government, was the first UK Banking Act to put banking regulation on a statutory footing. ‘The words “bank” and “bankrupt” date from the 13th century when it was bankers bankrupting banks. In the 21st century, bankers are still bankrupting banks. But it is no longer just banks. In England and Wales alone, over half a million individuals and nearly 100,000 businesses have found themselves in insolvency since 2007. Internationally, a growing number of sovereign states face a similar fate’. [2011 Andy Haldane – Control rights (and wrongs)] Read more of this post
January 23, 2013Posted by on
A 2009 post ‘UK laws and the EU – A myth?’ included claims made that EU Directives and EU Regulations were now responsible for a large percentage of UK law. Daniel Hannan’s 84%, UKIP’s 75% and David Cameron’s 50%, have now become lore, despite the truth being that ‘no one really knows’. Nevertheless, they must have some influence on UK trade and commerce.
A recent press release by the British Chamber of Commerce (BCC) stated that only 12% of firms want to leave the EU altogether. While remaining a part of the EU, 47% wanted to negotiate a looser relationship and 26% want to maintain the status quo. The rules and regulations imposed by Brussels resulted in 35% responding that they outweighed the benefits of a the Single Market. Read more of this post