So Barclays has managed to secure a capitalisation deal from a mix of members of Gulf Royal families and sovereign wealth funds. No doubt champagne corks are popping now that bonuses can keep on flowing. And it is good to know that at least one UK bank has convinced a significant investor that it is [...]

Filed under: Financial crisis | Comments Off

George Osbourne’s speech today marks a very clear dividing line between the government (with the Lib Dems) and the Conservatives. In his interview on the Today programme he has clearly lined up the Conservative Party in opposition to a Keynesian response to recession. Indeed he used ‘Keynesian’ as a term of abuse and said: “You can’t [...]

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David Lammy MP has said something sensible about the ‘white working class’ issue that’s been rearing its ugly head again recently. Trade unionists are rightly worried about suggesting it’s sensible to segment the working class by race (interesting note – apparently it’s ok to talk about the working class – normally discouraged by politicians as [...]

Filed under: Equality, Migration | Comments Off

There is already a growing debate about why the Bank of England are acting so late on interest rates given the rapidly deteriorating economic situation. 

Filed under: Economics, Financial crisis, Monetary policy | 2 Comments »

I’ve just spotted on the HMRC website that the contact details for the national minimum wage helpline are next to: National Yachtline For information about sailing your yacht or pleasurecraft to and from the UK Yes, I know that not all yachts are owned by Russian oligarchs and some are modest, but it still says something [...]

Filed under: Inequality | 1 Comment »

Women working full-time in the UK get paid 17% less than men. As this is equivalent to women working the last two months of the year for free, the Fawcett Society have calcuated that today marks women’s no pay day – from today until the end of the year many women are effectively working for free, their [...]

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Here’s a tremendous video making the case for tax justice.

Filed under: Tax | Comments Off

When the economy is growing and unemployment low, political debate is about how to distribute the fruits of growth. Of course that can be intense and ideological. In as much as there has been a dominant issue in recent elections, it has been tax cuts v public services. But just as easily the debate becomes a difference in emphasis that does [...]

Filed under: Financial crisis, Politics | 1 Comment »

The European Parliament has voted in favour of the Directive on Equal Treatment of Agency Workers, meaning that agency workers in the UK will now have the right to receive equal treatment to permanent staff after 12 weeks of work with an employer. Roger Helmer, Conservative MEP, reacted to this progress with the following statement: This is [...]

Filed under: Labour market, Politics, Vulnerable workers | Comments Off

Terry Macalister in today’s Guardian reports on the call by the United Nations Environment Programme (UNEP) for a green new deal to both deal with the environmental challenge and help revive the economy.

Filed under: Environment | Comments Off

So the global economic summit designed to rethink the world’s financial architecture is going to happen in Washington next month.  The White House said it will be an important opportunity for world leaders to enhance their commitment to open, competitive economies, as well as trade and investment liberalisation. Investment liberalisation!?  Isn’t that the problem?  Surely [...]

Filed under: Financial crisis, They Just Don't Get It | Comments Off

Today’s papers are full of the varying accounts of George Osborne’s yachting trips. But it’s hard not to conclude that his real crime in the eyes of Nathaniel Rothschild is that he has broken the secrecy code of the super-rich, and brought us all a glimpse of their detached lifestyle.

Filed under: Inequality | Comments Off