The Tax Code of Conduct for Banks: 1 failure, 1 omission and 3 oversights
Richard Murphy finds the government's code of conduct – which looked like good new over the weekend – to some more serious scrutiny and finds it wanting.

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With Britain now in the grip of the worst recession since the 1930s, we’ve got to do everything in our power to safeguard pension schemes. Unless we act now, there is a very real danger that ordinary people could pay a severe price in retirement for the monumental profligacy of City bankers.

Filed under: Investment, Pensions | 2 Comments »

Ethical Trading Initiative | Respect for workers worldwide
The Ethical Trading Initiative has launched its new website – masses of ethical trade information and resources are available to download

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Vince Cable had a superb article on banking regulation in the New Statesman last week. It’s a pity that he has followed this up with such a poor one about public sector pensions in the Mail on Sunday. Of course he has every right to say that public sector pensions should join the race to [...]

Filed under: Pensions, Politics | 3 Comments »

David Cameron has today launched what the Guardian describes as a “blistering personal attack” on the Prime Minister, claiming there is a “thread of dishonesty” running through his premiership.
Among the examples he gives of such dishonesty are “cancelling the election and then saying it had nothing to do with the opinion polls” and the Prime Minister’s [...]

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We’ve been examining the voting records of institutional investors for seven years now at the TUC, through our Fund Manager Voting Survey (2009 full survey here), and we’re noticing a worrying trend- we’re now down to 40% of fund managers responding to our survey, compared to 68% only five years ago. The data that many [...]

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Tax: Darling to ‘name and shame’ banks
Banks that refuse to sign the code of conduct or act against the ’spirit’ of the current tax laws will be subjected to heavier scrutiny from the tax authorities (Guardian)

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The left and cuts
Chris Dillow is an exception to Nigel’s complaint yesterday that there is little serious debate about public spending

New Statesman – The bankers cannot believe their luck
Vince Cable has a superb analysis of why the bankers are so happy once again. As he says, “Banks should either surrender their (taxpayer) protection and compete [...]

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I couldn’t let this pass.  A quote in yesterday’s Guardian from Tim Lebus, a partner at Duke Street private equity firm:
While less leverage may mean huge returns will be harder to come by, the risk will be lower.
Private equity spent all of 2007 defending itself by saying that the high returns it delivered had nothing [...]

Filed under: Economics, Financial crisis | 2 Comments »

Telegraph prints lies about pensions
Tom of Labour and Capital fisks the Telegraph's analysis of the UK's private pensions.

CITY INTERVIEW: Odey warns we could be a Zimbabwe
The new co-treasurer of the Conservative, ultra-wealthy Crispin Odey, gives a revealing and scary insight in to what the Conservative's paymasters think.

Centre for Cities | Long-term youth unemployment to treble
New [...]

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