In These New Times

A new paradigm for a post-imperial world

Archive for the ‘UK economy’ Category

Our global banks – still too mighty to control

Posted by seumasach on September 15, 2013

Liam Halligan

Telegraph

14th September, 2013

Lehman Brothers filed for bankruptcy on September 15 2008. The resulting financial meltdown led to the first global recession in living memory, so causing countless job losses and widespread human misery.

Read more

Posted in UK economy | Tagged: , | Leave a Comment »

UK food bank users doubled during school holidays

Posted by seumasach on August 11, 2013

PressTV

10th August, 2013

Food banks users have been doubled this summer as British households struggle to feed their children during school holidays, charity says.

Read more

 

Posted in UK economy | Leave a Comment »

I warn you, Mr Carney – a housing bubble is coming

Posted by seumasach on August 11, 2013

Telegraph

10th August, 2013

Any politician suffering a little in the polls knows he or she needs only to tickle the public’s home-buying erogenous zones for a general feeling of warmth to flow from the voter to the MP.

Read more

Posted in UK economy | Leave a Comment »

Food poverty hits 18% of UK

Posted by seumasach on July 8, 2013

[This crisis is the result of rampant inflation whose roots lie ultimately in money printing(QE). We badly need a realistic assessment of inflation so that wages, benefits and pensions can be indexed.]

Government urged to act as food poverty hits 18% of UK

Telegraph

30th June, 2013

An estimated 18 per cent of the country were forced to skip meals, ask friends or family for food, rely on a food bank or go without so their kids could eat in the past year.

Read more

Posted in UK economy | Tagged: , | Leave a Comment »

City firms switching from Tories to UKIP

Posted by seumasach on May 25, 2013

By making link between anti-EU feeling and defense of City interests explicit UKIP is making British politics much clearer. It remains for a new centre to emerge which both embraces Europe and puts the City in its place.

Telegraph

24th May, 2013

City firms – most notably the hedge fund, insurance and commodities sectors – are sick of the “unending blizzard” of regulation coming out of Brussels, says Mr Farage, who claims traditional City Conservative supporters are switching allegiance to UKIP.

Read more

Posted in UK economy | Leave a Comment »

EU to end tax evasion and bank secrecy

Posted by seumasach on May 25, 2013

“At a time when finances are tight and taxpayers are squeezed, it’s only right that we crack down on those who pursue illegal means to avoid making any contribution to public coffers, and who put smaller competitors at a disadvantage,” said Conservative MEP Martin Callanan, in a direct challenge to British PM David Cameron to make tax evasion a priority in the UK

RT

22nd May, 2013

In a period of record recession and unemployment, the EU has decided to recover a reported €1 trillion in tax revenue lost in loopholes and fraud, and has set a one year deadline to end banking secrecy.

Read more

Posted in UK economy | Leave a Comment »

Austrian finance minister compares Britain to Cyprus

Posted by seumasach on April 13, 2013

The Austrian finance minister has described Britain as “the island of the blessed for tax evasion and money laundering”, comparing British offshore banking to the Cypriot financial sector that is to be forcibly restructured as part of a eurozone bailout.

British offshore banking under fire in EU tax haven battle

Telegraph

12th April, 2013

Europe’s finance ministers meeting in Dublin today are pushing Austria hard to follow Luxembourg’s example in agreeing to reveal information on European banking depositors to EU tax authorities.

Read more

Posted in UK economy | Leave a Comment »

Falling exports confirm demise of UK economy

Posted by seumasach on April 9, 2013

“The volume of total UK exports fell again in February 2013 from January, so that export volumes have fallen by 7.5pc since the start of the year,” the ONS said.

It started badly and has now fallen away. Since the wealth supposedly generated by the financial sector will turn out to be a mirage only the real economy really matters. But falling exports despite a low pound confirms its near non-existence. Meanwhile imports hold up since we are completely dependant on them for our everyday survival.

Manufacturing rebound calms triple dip fears

Telegraph

9th April, 2013

Manufacturing output rose by 0.8pc, double economists’ forecasts, following January’s disastrous, weather-affected 1.5pc collapse.

Read more

Posted in UK economy | Tagged: | Leave a Comment »

Time bomb to the next crash

Posted by seumasach on April 2, 2013

Time bomb to the next crash is ticking as debt sales surge

Telegraph

1st April, 2013

When dotcoms crashed, sub-prime imploded and banks collapsed it was not hard to find the markets’ Cassandras who had spotted the problem and either made millions betting against the bubble or written a book explaining how it was all going to go wrong.

Read more

Posted in UK economy, Uncategorized | Leave a Comment »

Egan-Jones downgrades UK to A+ from AA-

Posted by seumasach on March 29, 2013

Nasdaq

27th March, 2013

FXstreet.com (San Francisco) – Egan-Jones, the independent agency, has decided to cut down its United Kingdom sovereign debt rating from AA- to A+.

Read more

Posted in UK economy | Leave a Comment »

UK: a balance of payments crisis looms

Posted by seumasach on March 28, 2013

Britain resembles Cyprus in many ways. It is also dependent on its financial sector and its financial sector is also bankrupt and as what’s left of the real economy implodes the accumulation of bad debt accelerates. The solution is also similar: write down most of the debt and renegotiate Britain’s international status with a view to rebuilding the real economy through incoming investment.

Fasten your seat belts – a balance of payments crisis looms

Jeremy Warner

Telegraph

27th March, 2013

Whatever happened to the holy grail of a more balanced UK economy? Britain has been living substantially beyond its means for more than thirty years now. Spending more than we earn long pre-dated the Labour years. And it’s getting worse, not better.

Read more

Posted in UK economy | Tagged: | Leave a Comment »

 
Follow

Get every new post delivered to your Inbox.

Join 950 other followers

%d bloggers like this: