Tag Archives: Pound

Corruption scandal makes it easy to believe Johnson has sold us all out over Brexit

Boris Johnson and Jennifer Arcuri: If an inappropriate relationship with her is proved, should claims of another inappropriate relationship – with hedge fund-owning backers who have bet on the disastrous effect of a “no deal” Brexit – also be investigated?

What is Boris Johnson’s Brexit really about?

It has been alleged that he is in cahoots with a number of ‘City’ financiers who backed his campaign to become Tory leader – and prime minister – on condition that he push the UK through a “no deal” Brexit that would enrich them (and, by connection, him).

The claim is that these hedge fund bosses have bet heavily on what’s known as “shorting” – and stand to make £8.3 billion if the pound plummets and inflation skyrockets after the UK crashes out of the EU without a withdrawal agreement.

It’s what Mr Johnson’s own sister has been saying – and also former Chancellor Philip Hammond.

Such a claim is extremely damaging to BoJob’s reputation as it implies that he is working, not as a servant of the public, which is the reason he draws a publicly-financed salary, of course – but in the interests of a shadowy group of self-motivated mobsters who are quite happy to endanger the entire UK economy for their own gain.

And, of course, to satisfy his own personal greed when they pay him off for his services.

Is there any evidence to support the claims? I don’t know. Mr Hammond and Ms Johnson must have reasons for saying what they have, otherwise they have put themselves in a very actionable position.

But what makes them believable to the public is the fact that Mr Johnson has been referred to the Independent Office for Police Conduct (IOPC) over allegations that he overruled his own officials to give favourable treatment – thousands of pounds in sponsorship grants and places on trade missions – to his friend Jennifer Arcuri when he was Mayor of London.

It is potentially a criminal offence – made worse by the fact that, as London Mayor, Mr Johnson would also have been Metropolitan Police and Crime Commissioner.

Of course, if the IOPC decides Mr Johnson’s behaviour towards Ms Arcuri was inappropriate, it makes it easy to believe that he is in collusion with these hedge fund bosses to rig Brexit – against the best interests of the UK as a whole.

The BBC – in its apparent role as propaganda arm of the Conservative Party – has run a story in which Downing Street has claimed the Arcuri allegations are politically-motivated, as it was timed to happen days before the start of the Conservative conference.

If that were true, why were the allegations published in the overtly pro-Tory Sunday Times, rather than by a news organisation that opposes Mr Johnson’s party, like The Guardian or The Mirror?

It seems clear that Boris Johnson will have to work very hard if he wants to make sure this mud won’t stick to him.

And what if the claims are true, but he fails to deliver the “no deal” Brexit these hedge fund bosses want?

Will they not be annoyed? And won’t they want some kind of compensation?

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

https://www.crowdjustice.com/case/mike-sivier-libel-fight/


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

The Johnson conjunction: Boris’s Brexit drives the pound down so businessman brother Max can clean up

Cashing in: Max Johnson, brother of Boris.

The plausible deniability of this is breathtaking.

Here in the UK, Boris Johnson has been pushing the threat of “no deal” Brexit hard, forcing the value of the pound to plunge.

In Hong Kong, his brother Max is planning a hotel investment fund targeting rich Asian individuals and pension funds who he expects to be attracted by the weakness of the pound.

Yeah, I know – coincidence.

Plausible deniability.

Boris Johnson’s “do-or-die” strategy to take Britain out of the European Union could work, said his youngest half-brother Max, who plans to launch a £1 billion (US$1.2 billion) real estate fund targeting Asian investors.

Johnson, 34, is in advanced talks to co-found a hotel investment fund targeting Asian high net worth individuals and pension funds. He expects the sterling, which has weakened 6.2 per cent against the US dollar in the past six months, to be a big draw for foreign investors. It has fallen 11.7 per cent since the referendum in June 2016.

According to the article (link below), Max Johnson said he could see himself going into politics like his brothers Boris and Jo – but there were “enough Johnsons in politics” at the moment.

Considering what a “johnson” is in American euphemistic slang, I couldn’t agree more.

Source: Boris Johnson’s brother in Hong Kong backs Brexit strategy as he plans UK hotel fund targeting Asian investors

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

https://www.crowdjustice.com/case/mike-sivier-libel-fight/


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

Another billion-pound scandal over ‘serially botched’ sickness benefits

This is from the UK Parliament website – verbatim. Straight from the horse’s mouth:

New figures published today by the Work and Pensions Committee show the “wholly unacceptable” costs of “serially botched” administration of ESA payments to disabled people. DWP has begun the process of fixing years of underpayments to vulnerable claimants but it has become clear the errors persisted well after the Department claimed to have corrected the underlying problem.

Costs of “protracted error” continue to mount

In February the Committee wrote again to the Department for an update on the costs of this protracted error, after DWP admitted that the number of staff in DWP working on the systemic errors had tripled from 400 to 1,200. It was also at that point that it was forced to admit that even after new guidance had been issued to staff in 2015 in an attempt to correct the problem, 30,000 extra cases had been identified where it was possible the same error resulting in underpayment had been made.

In the response published today, DWP reveals that of the 1200 staff assigned to fixing the huge administrative error, 400 are new, additional staff recruited specifically for this exercise. It shows that just running the exercise  – if it ends next year as forecast – will cost an additional £40 million. The total cost, including making up what is owed to claimants, is expected to near £1bn.

Chair’s comments

Commenting today, Rt Hon Frank Field MP, Chair of the Committee, said:

“ESA has taken another disastrous turn. Having made it through the awful, painful, error-ridden assessment process run by the private contractors who can so rarely hit a target, through the miserable and lengthy reconsideration and appeal process that is so costly to taxpayers and claimants alike, tens and perhaps hundreds of thousands of disabled people still lost out on money they were owed. Now DWP has been forced to admit that just the admin of fixing its own catastrophic incompetence is going to add another £40 million to the cost of this serially botched operation. Imagine what that money could have done instead for families across the country who are struggling to feed their children and heat their homes.

You might think that this shameful, damaging waste would at least focus minds at DWP on making sure this never, ever happened again. But we are already starting to hear about people whose incomes have been slashed because they’ve been wrongly advised to claim Universal Credit, and there’s no way back. If Ministers want to avoid another billion pound scandal, they need to get a grip on this – and fast.”

DWP resource allotment

In February, the Chair asked “how the Department has made these resources available – in particular, what work have you had to stop or deprioritise in order to deploy 1,200 staff to this exercise?”. The questions, including the request for an estimate of the total administrative cost – i.e. excluding the arrears themselves – of reviewing and correcting the underpayments came as DWP published figures showing it had:

  • begun the process of reassigning 310,000 claimants’ ESA payments
  • paid arrears of over £328 million to 58,000 people
  • increased the number of staff working on the years of mistakes from 400 to 1,200
  • revised the expected near £1bn cost of the process to March 2020 down slightly, from £970m to £920m.

The Permanent Secretary states in this latest letter that “we have not had to stop or deprioritise other customer activity in order to complete this review”. He does not, however, address the question of what other work DWP could have done if it had not had to hire 400 new staff, deploy 1200 total and spend £40m on this exercise.

Terrible failures in assessment process

In 2017 the Committee picked up on the original NAO report uncovering years of significant underpayment to vulnerable, disabled claimants of ESA, in the aftermath of the Committee’s work on the terrible failures in the assessment process for ESA and PIP benefits. In July 2018 the Chair commented on the huge leap in the number of cases of underpayment requiring investigation and possible correction, from 70k to a quarter of a million.


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

Graphic proof that Theresa May causes the problems she blames on Labour

Mad-eyed May: The Maybot is clearly malfunctioning and should be packed back in her box.

Remember this, from Friday:

One of the perils of electing Labour, according to Mrs May in her pretty little speech, is a run on the pound – a drop in its value caused by the actions of the government. This Writer mentioned in my previous article that Mrs May was prone to causing such calamities herself, whenever she gives a speech on Brexit.

Here’s visual evidence of it:


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

Pound to be renamed the Yo-Yo while UK continues to have Conservative government


No – not really.

But the comparison with a toy that bounces up and down according to the actions of its custodian is useful, considering the woeful effect on the UK’s currency whenever certain Tory politicians open their mouths.

Obviously the pound plummeted when it was revealed that more Britons had voted to leave the European than remain in it.

Then Theresa May became prime minister and Sterling took a tumble whenever she made a speech.

Now the infection has spread to Philip Hammond.

Thankfully, our currency regained at least a little of its value after all of these… incidents, let’s call them.

In seriousness, it is an indication of market jitters over Brexit – the effect of which remains a mystery, and a dangerous liability for the economy and the well-being of everybody in the United Kingdom.

But This Writer believes it has as much to do with the failed government of the Conservative Party under Theresa May and her lieutenants, including Mr Hammond.

The pound briefly fell against a slew of currencies on Wednesday, after the Office for Budget Responsibility slashed its growth forecast.

Sterling initially slipped by around 0.2 per cent against both the euro and the US dollar. It also fell against other major global currencies, including the Swiss franc and Japan’s yen, but was trading higher again by the end of the day.

The pound has endured a turbulent ride since June 2016’s Brexit vote. Even though it has stabilised somewhat in recent months, it remains around 10 per cent lower against the dollar since the referendum and around 13 per cent lower against the Euro.

In the longer term, analysts are cautious about forecasting a sustainable recovery for the currency – especially considering the stubborn uncertainty over what Brexit will eventually look like.

Source: Sterling falls after UK economic growth forecast is slashed


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

Greedy UK exporters are jeopardising our prosperity with exchange rate profiteering

Theresa May with Japan’s prime minister, Shinzo Abe, in August. Japan has promised to sign a trade deal with the UK as soon as possible after Brexit – probably because the stupidity of UK exporters means it will be easier to sell Japanese goods here [Image: Kazuhiro Nogi/Reuters].

This is a perfect illustration of everything that’s wrong with British business today.

The fall in sterling, after the EU referendum result in favour of Brexit, created an opportunity for UK exporters. It meant they could sell their products abroad more cheaply.

This would have made our exports more desirable, meaning (hopefully) that more foreign clients would buy them.

But exporters decided to push their prices up instead, making our products less desirable (although extorting more money from clients who were already contracted to buy from them).

Meanwhile, the depreciation in the value of the Pound meant imports became more expensive, squeezing UK citizens’ ability to buy and fuelling the recent rises in inflation.

The result: More poverty for the many, while a few business bosses made a short-term profit that they didn’t even share with the workers who actually created it for them by manufacturing the goods.

Britain’s manufacturing exporters have “hoarded” the gains from last year’s fall in sterling by putting up prices rather than increasing output and sales.

The Office for National Statistics said exporters could have allowed their prices to decline in line with the fall in the pound, making their products more attractive to foreign buyers, but chose to boost their profits instead.

Illustrating the uncertainty following the Brexit vote, which has made exporters nervous about expanding production, analysis by the ONS shows that UK companies increased export prices by 12.7% year on year in the months after the referendum in response to a 16.9% fall in the exchange rate.

Source: UK exporters have ‘hoarded’ gains from fall in sterling, says ONS | Business | The Guardian


Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

Is Theresa May DELIBERATELY trying to put the NHS into debt?

Read the following, from the Health Service Journal, and you might believe so.

Every time Theresa May makes a speech about Brexit, the Pound falls in value. It is currently at a 32-year low, as This Writer understands it – and that’s just in advance of her speech tomorrow (January 17).

A low Pound is great for FTSE100 companies that make their profits in dollars – and terrible for the NHS, which buys all its supplies with pounds.

Theresa May knows this.

So she must also know that she is cancelling out her claimed increase in NHS funding with every poisoned word she utters.

Brexit could result in an extra £900m bill for the NHS as suppliers hike their prices to protect themselves against a weakening pound.

The currency turmoil triggered by Britain’s decision to leave the EU could add a further 18 per cent to the efficiency target set out in the Carter review, according to NHS procurement expert Chris Robson.

Mr Robson, of the management consultancy Akeso and Company, estimates that at least half of the products used in the NHS originate from outside of the UK, with a high proportion manufactured in Europe, Switzerland, the US and the Far East.

Most NHS organisations buy products in the pound, which has plumbed depths not seen for over 20 years against most global currencies.

According to Mr Robson: “The ongoing and sustained deterioration in exchange rates versus key currencies… is very likely to lead to claims from suppliers for an increase in [pound] pricing over the longer term.

Source: Brexit: Fall in the pound could create extra £900m bill for NHS | News | Health Service Journal

Join the Vox Political Facebook page.

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook