Economic myths and realities. Our guide to current economic myths – and the essential articles and blogs that debunk them.
Let us know if we've missed anything. MYTH 1: The government's deep, rapid spending cuts are the best (or only) way to shrink the deficit. REALITY: Cameron's government inherited a growing economy and falling deficit. Since then the economy has stagnated and the deficit has grown. OAP fury over pension reforms. Pensioners, who will be exempt from pensions reform announced today, have attacked the planned changes as a "work shirker's charter.
" Internet message boards hummed with fury over the reforms, which will see a flat rate pension of £140 a week introduced. Currently, at 65 you're entitled to a basic pension of £96.65 a week. On top of this is the means-tested element for lower earners - known as pension credit- which boosts pensions up to £132.60 a week for a single person and £202.40 for couples. But the reforms to introduce a flat-rate pension will not apply to current pensioners.
Shelter Cymru on rise in help calls from middle-class. 11 May 2011Last updated at 09:08 More professionals fear having their homes repossessed, according to the Shelter Cymru A homelessness charity says it has seen an increase in queries in Wales from professional middle-class people.
Shelter Cymru says its this is as a result of mortgage repossession cases which have "increased dramatically". TheyWorkForYou.com: Are your MPs and Peers working for you in the UK's Parliament? Hansard++ How the secretary of state for health proposes to abolish the NHS in England. Allyson M Pollock, professor , David Price, senior research fellow Author Affiliations Correspondence to: A M Pollock firstname.lastname@example.orgAccepted 9 March 2011 Allyson Pollock and David Price examine the proposed statutory changes to the NHS and raise concerns that the government’s role could be reduced to that of payer The coalition government’s Health and Social Care Bill 2010-11 heralds the most controversial reform in the history of the NHS in England.1 2 3 The government plans to replace the NHS system of public funding and mainly public provision and public administration with a competitive market of corporate providers in which government finances but does not provide healthcare.4 Primary care trusts and strategic health authorities are to be abolished and replaced by general practice commissioning consortiums, which all practices must join.
Since 1948 the government has had a duty to provide comprehensive healthcare free at the point of delivery. LHE - London Health Emergency. Health and Social Care Bill. Westons breached charity law over Tory donations - Times Online. Press release: UK Uncut Occupy Tax Dodgers Fortnum and Mason. UK Uncut secret occupation revealed as Fortnum & Mason 3.30pm – UK Uncut occupy Fortnum & Mason and aim to stay for as long as possible UK Uncut groups from across the country transformed banks and shops on Oxford Street into hospitals, libraries and theatres with Sam West, Josie Long and Mark Thomas performing.
UK Uncut, the anti-cuts direct action group, are currently occupying Fortnum & Mason over the tax dodge of over 40 million by its owners Whittington Investments which have a 54% stake in Associated British Foods who produce Ryvita, Kingsmill and others and own Primark. ABF have dodged over £40 million in tax. It Cuts Both Ways...The Alternatives. Uni fees subsidy for Welsh students. 30 November 2010Last updated at 20:16 Leighton Andrews: ''The public purse will continue to subsidise higher education for Welsh domiciled students'' Welsh students will be protected from increased tuition fees, the Welsh Assembly Government says.
Education Minister Leighton Andrews made the commitment as he outlined Wales' response to the UK government's plan to increase fees in England. In Wales, basic tuition fees will rise to £6,000 per annum, or £9,000 in some circumstances. But the assembly government will meet the cost of extra fees for students from Wales attending any UK university. Perhaps we should scream. Before it's too late - Comment - TES Connect. Comment:4.5 average rating | Comments (3)Last Updated:13 March, 2011Section:Comment In one of his most vicious and disturbing works, poet Philip Larkin looks through terror-stricken eyes at "The Old Fools" - those infirm and demented elderly relatives sitting in institutional high-backed chairs, reeking of urine, mouths lolling open, and undergoing a "whole hideous inverted childhood".
Taxpayer-backed RBS paid more than £1m to 323 staff. By Becky Barrow Updated: 15:08 GMT, 18 March 2011 More than 100 senior executives at a state-owned bank pocketed over £1million each last year.
The bonanza at the Royal Bank of Scotland saw a team of just five workers share an astonishing £26million. Critics said it was further evidence that banks had become divorced from reality, especially in the wake of RBS’s £1.1billion financial loss. The bank’s annual report revealed that 323 ‘key staff’ shared a pay and bonus pot of £375million last year.
Graduates face paying back staggering £83k for taking out full student loans. By James Coney Updated: 22:30 GMT, 19 March 2011 And parents could be penalised for paying off their children's debts The biggest student loan in England is £66,150, with the 20 largest debts owed to the Student Loans Company totalling more than £1million.
UK economy growth forecast for 2011 cut by BCC. 8 March 2011Last updated at 07:18 The BCC says a rate rise now would be premature The UK economy will grow by less than expected in 2011 but growth in 2012 will be better than predicted, the British Chambers of Commerce forecasts.
The group downgraded its forecast for UK GDP growth in 2011 to 1.4% from a December forecast of 1.9%. The BCC said the downward revision was due to an unexpected fall in 2010's fourth quarter GDP. Meanwhile, retail sales fell 0.4% in February against a year ago, according to the British Retail Consortium. Davos 2011: Soros warns UK cuts could cause recession.
26 January 2011Last updated at 17:22 By Tim Weber Business editor, BBC News website, Davos Mr Soros demanded a fundamental rethink of economic theory at an event at Davos The UK government's austerity policy could push the country back into recession, the famous investor and fund manager George Soros has warned. UK cuts 'to push unemployment close to 3m' 10 June 2010Last updated at 14:22 Deficit cuts will hit those already suffering most, the CIPD says Government spending cuts will push UK unemployment up from its current 2.5m to almost 3m, a report has warned. Deficit reduction would also stall recovery in the jobs market, employment group the Chartered Institute of Personnel and Development (CIPD) said. There was little prospect of real wage growth until at least 2015, and public sector workers faced pay cuts, it said.
Doctors 'want halt to NHS plans but reject opposition' 15 March 2011Last updated at 12:22 By Nick Triggle and Jane Hughes BBC News Doctors are debating the changes to the NHS in England Doctors have called on the government to put a halt to its overhaul of the NHS in England, but have stopped short of opposing the plans outright. Instead, an emergency meeting of the British Medical Association urged ministers to withdraw the health bill so the plans could be looked at again.
Library clears its shelves in protest at closure threat. Stony Stratford library is one of two branches being considered for closure by Milton Keynes council. Photograph: Christopher Thomond for the Guardian The library at Stony Stratford, on the outskirts of Milton Keynes, looks like the aftermath of a crime, its shell-shocked staff presiding over an expanse of emptied shelves.
Only a few days ago they held 16,000 volumes. UK Uncut. Conservatives slam parish council proposals for London. Warning: they want us to pay the private sector to make a profit from NHS. Cuts and testimonies. Barclays UK corporation tax bill for 2009 was £113m. The coalition government’s Localism Bill is inconsistent and restrictive for local government. Ministers are actually legislating for a confusing mix of new central controls and only minor local ‘freedoms’ » British politics and policy at LSE. Localism: How far can it go? Cameron's magical thinking can't save this national joke. David Cameron defends the big society in front of an audience of social entrepreneurs on 14 February in London. Cash for internships: Tory backers pay £2k a time to buy children work experience. By Simon Walters and Brendan Carlin Updated: 17:28 GMT, 13 February 2011. Financial Secrecy Index. UnitedKingdom_CityLondon.
A Corporate Coup d?Etat. Statement on tax. Cash for internships: Tory backers pay £2k a time to buy children work experience. Taxman faces probe into £6bn Vodafone 'let-off' By Lucy FarndonUPDATED: 09:15 GMT, 20 January 2011. To us, it's an obscure shift of tax law. To the City, it's the heist of the century. Warning: they want us to pay the private sector to make a profit from NHS. The Architecture of Transparency.