Tag Archives: regulation

A week after Brexit, how are the UK and the EU getting on? Not very well, it seems

I was going to leave the headline as a rhetorical question but too many people would have tried to answer without reading the article.

And who can blame them? It all seems a nasty mess at the moment. But are these really only teething problems?

Here comes the list:

The UK and the EU are heading towards a confrontation over financial services after trading in £6 billion worth of euro-dominated shares started moving to European continental stock exchanges in Amsterdam and Paris.

UK financial service providers and banks have lost the so-called passport that gave them the right to operate without restrictions throughout the EU, and now depend on unilateral decisions from European authorities to extend them an “equivalence” based on regulatory convergence, sector by sector.

Bank of England boss Andrew Bailey has said the UK should not become a so-called “rule taker” by mimicking EU regulations just for the sake of obtaining an access to European markets.

To This Writer’s uncultured eye, he seems to be saying we should lose a lot of business. Or is he he suggesting that trade will come back to the UK if businesses see an advantage in trading outside EU regulations?

This is not likely to sort itself out for several years.

Marks & Spencer has discovered holes in the so-called “zero tariff” trade deal with the EU that means its Percy Pig sweets – manufactured in Germany, transported to the UK, and then re-exported to other countries like Ireland – would face taxation and bureaucratic “red tape” costs.

The firm has already dropped hundreds of products, including chocolate fudge pudding and sweet and sour chicken, from its Northern Ireland stores after it saw competitors’ lorries barred from travelling between the mainland and Northern Ireland.

John Lewis has scrapped deliveries of its products to EU countries (although the firm says this is because of a business decision to concentrate on the UK). Debenhams and Fortnum & Masons have also suspended deliveries to Ireland and the EU respectively, blaming uncertainty over post-Brexit trading rules.

Scottish seafood firms are already facing financial difficulty as new post-Brexit rules demand that every single box has to be offloaded from lorries, opened and checked by vets before leaving Scotland – creating five-hour delays per lorry.

And overseas customers are cancelling orders – putting the £1 billion-per-year business in jeopardy.

Expect much more of the same in the future.

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:

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:

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

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

Conservative cronyism rampant as contract awarded to colleagues of Cummings and Gove

Buddy money: The Tories are using emergency procedures to bypass proper tendering procedures and give huge amounts of public money to their friends.

It’s jobs for the boys, the Old School Tie, and every other example of favouritism you can imagine in the Tory government during the Covid crisis!

They’re using emergency regulations, that allow services to be commissioned quickly, to pass huge amounts of money to their friends.

And apparently there’s a conflict of interest as it seems to involve Eurosceptics working on focus group research related to Brexit – although a Cabinet Office spokesman said this was a bookkeeping issue. Do you believe that?

The Tories are using the Covid-19 crisis to funnel public money away from vital services and into their friends’ bank accounts:

The Cabinet Office has awarded an £840,000 contract to research public opinion about government policies to a company owned by two long-term associates of Michael Gove and Dominic Cummings, without putting the work out for tender.

Public First, a small policy and research company in London, is run by James Frayne, whose work alongside Cummings – the prime minister’s senior adviser – dates back to a Eurosceptic campaign 20 years ago, and Rachel Wolf, a former adviser to Gove who co-wrote the Conservative party’s 2019 election manifesto.

The government justified the absence of a competitive tendering process, which would have enabled other companies to bid, under emergency regulations that allow services to be urgently commissioned in response to the Covid-19 crisis.

However, the Cabinet Office’s public record states that portions of the work, which involved focus group research, related to Brexit rather than Covid-19, a joint investigation by the Guardian and openDemocracy has established.

A Cabinet Office spokesman said this was because of bookkeeping methods, and insisted that, contrary to government records, all the focus group research done by Public First was related to the pandemic.

Source: Firm with links to Gove and Cummings given Covid-19 contract without open tender | Politics | The Guardian

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:

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:

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

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

Planning corruption: it seems Jenrick isn’t the only Tory accused of breaking the rules

Robert Jenrick: while he was presenting press conferences about Covid-19, he has also been mired in an apparent corruption scandal.

The evidence is mounting against planning minister Robert Jenrick in the scandal over the Westferry development – and interest in the controversy has revealed further potential corruption.

It seems Robert Jenrick was induced to overturn the refusal of the Westferry planning application after property developer Richard Desmond showed him a promotional video for the £1bn development. Here’s The Guardian:

“What I did was I showed him the video,” Desmond told the Sunday Times, adding that Jenrick had watched it for “three or four minutes”, and adding: “It’s quite long, so he got the gist.”

Jenrick subsequently overturned a decision by a local council and the government’s planning inspectorate in order to approve a 500-apartment, 44-storey development at Westferry Printworks, a former printing plan in east London.

Viewing the video would appear to constitute lobbying by Desmond, potentially giving rise to a conflict of interest.

Labour will use the opportunity of a three-hour opposition day debate on Wednesday to discuss the controversy.

That’s today – June 24.

Meanwhile, according to The Mirror…

A Tory former planning minister is reportedly under investigation for failing to declare an interest in a hotel development in his constituency.

Sir Bob Neill wrote a letter to his local council in December 2018, urging them to approve the redevelopment of The Royal Bell – a neglected hotel in his Bromley Constituency.

But he failed to mention in his letter that he was on the payroll of the Substantia Group – the firm handling the planning application for the hotel.

Sir Bob has been paid £50,000 by the firm for “strategic consultancy advice” since 2016, according to the register of members’ interests.

But his links to the firm were not explicitly outlined in the letter.

Shadow Housing Minister Mike Amesbury said: “It beggars belief that a former planning minister would not be aware of the obvious conflict of interest in this case.”

And the Telegraph today reported Sir Bob had intervened in another planning application being handled by the same firm – again without mentioning his paid position.

MPs voted in 2018 for investigations by the Parliamentary Standards Commissioner to remain secret. Some might suggest that this was an offence against justice, which must be seen to be done.

But it has been reported the Commissioner has launched an investigation into Sir Bob’s involvement in the project after receiving a complaint.

Source: Jenrick under growing pressure after fresh Desmond revelation | Politics | The Guardian

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:

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:

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

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

Latest phase of Tory ‘hostile environment’ would force charities to help deport people sleeping rough

The Conservative government has been caught trying to persecute foreigners and some of the UK’s most vulnerable people – yet again.

The scandal centres once again on the Home Office, which has been trying to pressgang homelessness charities into becoming border guards.

The plan – euphemistically titled the Rough Sleeper Support Service (RSSS) – is to get charity outreach workers to pass on the personal details of homeless people to the Home Office where, if they were found to be from foreign countries, enforcement officers would deport them.

The scheme deliberately ignores data protection and privacy laws by demanding that personal information be passed to the Home Office regardless of whether the subject gives their consent.

This breach of national and international law was imposed to make it easier to deport people. A Home Office email stated that this would be harder if individuals were allowed to withdraw consent for their information to be used in this way, as would be permitted legally.

There has been pushback from charities who have refused to agree a data-sharing deal – that breaks the law – with the Home Office and local authorities.

This Writer wonders whether charities were also being gagged with non-disclosure agreements foisted on them by the Home Office – a Conservative government trick we have encountered before.

It seems odd that the first time this atrocity came to public attention was after the human rights charity Liberty received answers to a Freedom of Information request.

And Liberty was not pleased. According to the charity’s Gracie Bradley:

“It’s disgraceful that the Home Office, local authorities, and charities are attempting to turn trusted homelessness outreach workers into border guards. Homelessness charities must refuse complicity in the hostile environment.

Bradley said referrals will likely result in immigration enforcement action.

She said ministers should be concentrating on combating the root causes of homelessness rather than targeting rough sleepers. “Consent and data protection should also be at the heart of our interactions with public institutions,” she added.

[A] Public Interest Law Centre spokesman added: “Despite its name, the new RSSS offers no ‘support’ to homeless migrants living in the UK. It is a ‘hostile environment’ measure in all but name.”

Shockingly, the Tories have been unrepentant, now that their plan has been revealed.

A Home Office spokesman actually told the Guardian: “This enables individuals to access support or assists them in leaving the UK where appropriate.”

Assists them? They can only be assisted to leave the UK if they have been asked whether they want to – and it seems perfectly clear that the Home Office does not intend to seek any such permissions.

This is yet another atrocity from the home of the “hostile environment” and Home Secretary Sajid Javid should be hauled before Parliament to explain his department’s flagrant abuse of the law.

If he fails to account for his department’s actions, then we will have yet more proof of the Conservative Party’s prejudice against anybody who isn’t rich and privileged.

Source: Secret plan to use charities to help deport rough sleepers | Politics | The Guardian

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:

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:

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

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

Guardian article reveals scale of Labour prejudice against those accused of anti-Semitism

Jeremy Corbyn: He seems to be the only member of the Labour Party who is immune from false allegations of anti-Semitism.

As This Writer warned, it is now clear that one only has to be accused of anti-Semitism to be “kicked out” of the Labour Party, thanks to the hysteria whipped up by those who see advantage in it.

Jessica Elgot’s recent article in The Guardian referred to “cases” that are “pending” – not people who have been found to be anti-Semites; just those who have been accused. And look at the reaction.

A “party source” is quoted as saying the “antisemitism subgroup” of Labour’s National Executive Committee means “we have the potential to kick people out super fast”. Apparently justice is not a concern.

What kind of person makes such a suggestion?

And what kind of newspaper publishes it as evidence that Labour is taking appropriate action?

The corruption in this system is clear. Allegations of anti-Semitism are being made dishonestly – not to rid Labour of racists but to “kick out” members their accusers simply do not like.

Why else would the NEC have included, in its sheet of charges against me, a directive for the panel hearing my case to find me guilty, no matter what the evidence says?

I have now sent my defence to the Labour Party – all 194 pages of it – and there will be a hearing at some point in the future. I have absolutely no confidence that the interests of justice will be served by it.

That is one reason I am crowdfunding for legal action in a genuine court. I believe this is the only way the facts of the matter will be revealed.

I have a JustGiving page and you are invited to visit it and contribute to the cause.

The Labour Party deserves better than the fake justice its members are being offered.

Leaked Labour disciplinary papers have laid bare the scale of the challenge the party’s governing body faces in tackling antisemitism.

Around 70 cases are believed to be pending. However, the papers reveal only a minority were considered by the NEC because of time constraints.

Another party source said action would ramp up considerably within weeks. “The new code of conduct means we will not have to go to the full NEC disputes committee, but a smaller antisemitism subgroup. It will mean we have the potential to kick people out super fast, instead of waiting months for a full disputes meeting and just getting through 11 of 70.”

Source: Leaked Labour papers reveal scale of challenge to tackle antisemitism | Politics | The Guardian

Visit our JustGiving page to help Vox Political’s Mike Sivier fight anti-Semitism libels in court

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:

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:

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

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

More than 150,000 people to get boost in disability benefit after Tories sneak out humiliating climbdown

[Image: Black Triangle Campaign]

This is to be welcomed.

But take note of the fact that the BBC report (below) doesn’t mention the fact that Esther Mcvey sneaked out her announcement after the close of Parliamentary business for the week.

Nor is anything said of the fact that this was a humiliating climbdown for the Tories.

Still, it’s good news for the public.

And if this is an indication of Esther McVey’s future at the DWP, then perhaps she is to be welcomed after all.

But I doubt it.

Ministers have backed down in a row over paying higher disability benefits to 164,000 people by saying they will not contest a High Court decision.

Work and Pensions Secretary Esther McVey said she would not appeal December’s judgement over payments to people with mental health conditions.

Ministers had sought to limit those suffering psychological distress from claiming higher rates of benefits.

Campaigners said this was “crude and unfair” and welcomed the U-turn.

The government introduced regulations last March stating that people who could not travel independently on the grounds of psychological distress, as opposed to other conditions, were not entitled to the enhanced mobility rate of Personal Independence Payment.

Ministers pressed ahead with the proposals despite criticism from an independent tribunal in 2016 but the High Court ruled shortly before Christmas that they were “blatantly discriminatory”.

The government was expected to challenge the ruling, having previously said reversing the changes would cost an extra £3.7bn by 2022.

But Ms McVey, in one of her first major announcements since joining the cabinet last week, ruled out fresh legal action in a written statement to Parliament.

The Department for Work and Pensions will now go through all affected cases to identify anyone who may be entitled to more as a result of the judgement.

All payments will be backdated to the effective date in each individual claim.

Source: U-turn in disability benefits row

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:

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:

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

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

Brexit is bad for business as pharmaceutical firm expects to pay £70m because of it

A scientist prepares protein samples for analysis at the Institute of Cancer Research in Sutton, Surrey [Image: Stefan Wermuth/Reuters].

New regulation processes, labs and approval systems for 1,700 GlaxoSmithKline products – necessitated by Brexit – will cost this single company up to £70 million, the firm’s president is saying.

That’s just one company.

Admittedly, not all firms will be affected in a similar way or to a similar degree – but if only a few large concerns like GSK are affected, what will they conclude about doing business in the UK?

And remember, this is not the only impact that Brexit is going to have, starting immediately on March 29, 2019.

Right before I started writing this article, This Writer published a piece about the effect of leaving the EU-VAT area.

Many other adverse effects have already been demonstrated, and others are being identified every week, if not every day.

Brexit is bad for business. And that means it’s bad for the UK.

Up to £70m will have to be diverted from developing new cancer drugs in order to prepare for the impact of Brexit, Britain’s biggest maker pharmaceuticals of has warned.

In a stark intervention over the extra costs being incurred, Phil Thomson, president of global affairs at GlaxoSmithKline (GSK), made clear that something approaching the figure would have to be spent whatever the outcome of trade talks.

In evidence to the Commons health select committee, he said he would rather be spending the money on the company’s efforts to find new, life-saving cancer treatments.

He said the company estimated that 1,700 of its products would be directly affected by a chaotic Brexit, with new regulation processes, labs and approval systems costing “somewhere between £60m and £70m”.

Source: Brexit to swallow £70m meant for developing cancer drugs, says GSK | Politics | The Guardian

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:

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:

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

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

Even now, the DWP is pushing sickness benefit claimants toward early graves

[Image: Black Triangle Campaign]

Doesn’t this say everything you need to know about our homicidal Tory government?

At the same time as a major film is released, criticising the Department for Work and Pensions over its treatment of the sick and disabled, the DWP alters its guidance to make it easier to threaten their lives.

It concerns ESA regulations 29 and 35. Many people have relied on these regulations to save them from potentially life-threatening demands by the DWP. Now, it seems, the rules have been watered down.

Meanwhile, Iain Duncan Smith is telling anybody who will listen that I, Daniel Blake is nothing but a work of fiction and the DWP actually wants what is best for people with long-term illnesses.

Someone should ask him why he thinks an early grave is the best thing for these people.

A leading psychiatrist who helped the government draft guidance that protected mental health service-users who were threatened with forced work has refused to criticise major changes to the guidelines that have risked the lives of thousands of benefit claimants.

Disability News Service (DNS) reported last month that the Department for Work and Pensions (DWP) had secretly made major changes that watered-down guidance given to “fitness for work” benefits assessors, and then “lied” about what it had done.

Ministers appear to have decided that it was worth risking the loss of some lives in order to cut benefits spending and force more disabled people into their discredited back-to-work programmes.

The guidance explains how assessors should translate employment and support allowance (ESA) regulations 29 and 35, which concern whether decisions to find someone fit for work or able to carry out work-related activity would cause a substantial risk of harm to an ESA claimant.

A DWP response to a freedom of information request, obtained by DNS this week, shows that new guidance was sent out to healthcare assessors working for the discredited US outsourcing giant Maximus in early December last year.

The month after the new guidance was sent out, the proportion of claimants placed in the support group of ESA – and therefore not forced to take part in work-related activity – began to fall sharply.

For claims completed in December 2015, 56 per cent were placed in the support group; the following month that fell to 48 per cent, and then to 33 per cent in February, and 33 per cent again in March.

The previous version of the guidance, published as DWP’s Work Capability Assessment Handbook in February 2015, included six indicators of “substantial risk”, which were marked “D” for “definitive” – including someone who was currently sectioned, who had active thoughts of suicide, or had had a documented episode of self-harm requiring medical attention in the last 12 months – to show that that person should be placed in the ESA support group.

But the latest edition of the guidance says only that such indicators “might” give rise to a substantial risk in “exceptional circumstances”.

Source: Professors’ silence after DWP waters down their guidance on preventing WCA suicides

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:

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:

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

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

If banks want regulation costs cut, they should be more trustworthy

With people like this in charge of banks – and then going on to important roles in Conservative-led governments, can either the banks or the government be trusted to do what’s right for UK citizens?

Banks and other financial organisations want the Conservative government to slash the cost of complying with new regulations, according to the Confederation of British Industry. Doesn’t your heart just bleed for them?

Thse are the organisations that sucked the UK into the global financial crisis and allowed the Conservatives to form a government after the 2010 election (they didn’t win it) with a false claim that Labour overspent.

Now they want the regulations that prevent them from causing another crisis to be eased.

Considering the banks’ record, it would be madness to do so. Let’s see how long it takes the Tories to comply.

According to The Guardian, “As the City recovers from the financial crisis, companies are lobbying for an end to criticism of the banking industry and an easing of rules designed to prevent another crisis.

“They argue the sector is a big employer and that the City’s position as a financial centre is important for the UK’s economy.”

Finance is indeed a big employer, here in the UK – but only because Conservative-led governments since 2010 have utterly failed to build up any other industry while continuing to pander to the banks.

Meanwhile, the taxpayer has been supporting banks heavily, with 4.21 per cent of government spending – that’s £41 billion per year – being supplied to these very profitable institutions for no very good reason.

And they’re complaining about the cost of regulations!

It gets better. The regulations against which they are complaining include:

The ring-fence required by 2019 to separate retail and investment banking, so that bad investments cannot affect the safety of depositors’ money.
The introduction of criminal liability for senior executives whose reckless behaviour causes their company to fail.

That’s right – bank bosses are angry that the government is actually trying to stop them from penalising ordinary account holders for their gambling losses, and upset that they might have to pay a debt to society if their decisions harm the viability of their firms.

Clearly these bankers have not learned their lesson and want to inflict further debt upon the taxpayer while making off like the bandits they are.

According to The Guardian, “HSBC has taken the lead for the banks by threatening to leave the UK if it decides the cost of remaining is too great. Britain’s biggest bank listed ringfencing and the [bank] levy, which HSBC says affects it disproportionately, as important considerations.”

This is the bank that, earlier this year, was implicated in one of the biggest organised tax avoidance schemes to be uncovered in the UK in recent times.

It is important to note that the survey was compiled with accounting firm PwC, which has been singled out by HM Revenue and Customs as having created hugely lucrative schemes to help companies and the hugely wealthy to avoid paying their taxes.

Shouldn’t the government’s response be: “F*** off, then – but pay your back taxes first”?

The last thing the government should do is give in to these demands, and taxpayers across the country should write in to George Osborne, warning him against any such move.

There is no reason to trust the banks with any more responsibility than the bare minimum. They simply haven’t earned our trust back yet.

If the banks want more freedom, they should be told to bloody well earn it.

Follow me on Twitter: @MidWalesMike

Join the Vox Political Facebook page.

If you have enjoyed 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:

Buy Vox Political books so we can continue
fighting for the facts.
Health Warning: Government! is now available
in either print or eBook format here:

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

Labour’s next leader must challenge Tories’ poisonous myths

Here’s Kevin Maguire, writing in the Daily Mirror:

Labour’s next leader will become trapped in a maze of Tory lies unless he or she challenges a string of poisonous myths.

I badgered Ed Miliband for years in this column to prove spending by the last Labour Government didn’t trigger the 2008 global financial collapse.

The national debt was a smaller proportion of GDP before the banking crisis than Labour had inherited from the Conservatives in 1997.

Failing to regulate the spivs and speculators was the catastrophic error, not reviving the NHS or putting money into workers’ pay packets.

Economists knew it, the Bank of England governor knew it and so too did David Cameron and George Osborne – but the Tory duo cynically pinned the blame for the crisis on Labour’s spending plans.

The problem is, of course, that many of the politicians who now claim to represent Labour values are quite happy to let this Tory lie go unchallenged.

Those of us who know the facts have been telling everybody we can for the last five years and more, but we simply don’t have the mass media clout needed to get the message across.

People like the right-wing Labour leadership candidates (everyone apart from Jeremy Corbyn) and Harriet Harman can’t be bothered to correct a ‘big lie’ that has been repeated so often that people now believe it automatically.

They’ve got their Parliamentary seats and pensions; they’re doing quite all right out of all this, thank you very much.

Maguire makes some more useful points, which are well worth repeating, if you have ignorant friends:

The whole welfare debate is skewed when we wrongly think £24 in every £100 of the social security budget is fiddled. In reality, it’s just 70p.

The Department of Work and Pensions pumps out these tales to justify deep cuts. The £1.2 billion a year benefit fraud is pennies next to a great tax robbery soaring to as high as £120 billion.

Yet the Treasury and HMRC prefer cosy private deals with wealthy dodgers while what crooked US socialite Leona Helmsley referred to as the “little people” are thrown to the hounds.

And how about this:

It isn’t just the economic debate that’s distorted by myths. Immigrants pay in more than they take off the system.

Only reactionaries and racists benefit when it’s thought 24% of the population are recent migrants when it’s 13%.

Standing up for decent values requires politicians to tell hard truths and never pander to prejudices.

That’s not going to happen in a Labour Party led by Burnham, Cooper, Creagh or Kendall, then.

Source: Labour’s next leader must learn from Ed Miliband’s mistakes and challenge Tories’ poisonous myths – Kevin Maguire – Mirror Online

Follow me on Twitter: @MidWalesMike

Join the Vox Political Facebook page.

If you have enjoyed 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:

Buy Vox Political books so we can continue
fighting for the facts.
Health Warning: Government! is now available
in either print or eBook format here:

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

Vox Political

politics for the people

Tag Archives: regulation

A week after Brexit, how are the UK and the EU getting on? Not very well, it seems

Like this:

Conservative cronyism rampant as contract awarded to colleagues of Cummings and Gove

Like this:

Planning corruption: it seems Jenrick isn’t the only Tory accused of breaking the rules

Like this:

Guardian article reveals scale of Labour prejudice against those accused of anti-Semitism

Like this:

More than 150,000 people to get boost in disability benefit after Tories sneak out humiliating climbdown

Like this:

Brexit is bad for business as pharmaceutical firm expects to pay £70m because of it

Like this:

Even now, the DWP is pushing sickness benefit claimants toward early graves

Like this:

If banks want regulation costs cut, they should be more trustworthy

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this:

Share this:

Like this: