0 Have your say THE worst government. The worst prime minister. The worst opposition leader. What a deadly set of circumstances. For more than 40 years, I was a professional, politically impartial civil servant – a middle-ranking official, trying to help the government of the day implement its policies. Bernard Ingham: The EU will blink first if we hold our nerve on BrexitI began with Harold Macmillan as prime minister and ended with Tony Blair. In between, there was Alec Douglas-Home, Harold Wilson, Edward Heath, Harold Wilson (again), James Callaghan, Margaret Thatcher and John Major. I never worked for a government as incompetent as the one we now have. Tom Richmond: Just when will Chris Grayling’s career be sunk?Every one of those prime ministers stands head and shoulders above Theresa May. And every leader of the opposition has been better than Jeremy Corbyn. Just imagine, for example, how John Smith (1992-94) would have dealt with Mrs May … [Read more...] about Tony Rossiter: The worst government, the worst prime minister, the worst opposition leader, is there nay help for Britain?
Government bailouts history
Massey Ferguson is one of the great global manufacturers that will forever be associated with Coventry, even though its huge factory in the city is long gone. The tractor brand is still alive and kicking as part of a multinational corporation, though sadly its huge plant which once covered a large swathe of Coventry is no more. The factory in Banner Lane was built on the site of a Second World War shadow factory and production started there in 1946 - initially with the Standard Motor Company producing Ferguson tractors. Production ended in December 2002 after 56 years and more than three million tractors. In the 1980s about 8,000 workers made their living at Massey Ferguson. In December 2002 it was announced 1,000 jobs would be lost. Just 300 workers were kept on for the wind-down process by American-based company AGCO, which had taken over the factory in 1994. The Massey Ferguson factory is still remembered fondly, particularly by those who worked there. In 2010 former workers shared … [Read more...] about Massey Ferguson: History of a Coventry manufacturing giant
Introducing himself to the European stage as an anti-austerity firebrand four years ago, Greek Prime Minister Alexis Tsipras swiftly managed to morph into a fiscal reformer and win over sceptical creditors and EU leaders. After leading his country back from the brink of bankruptcy, he now stands to leave his mark on Balkan history too by helping solve a 27-year name row with neighbouring Macedonia -- even if it brings down his coalition government in the process. For Greece's youngest prime minister in 150 years -- and the first avowed atheist -- negotiating in times of crisis has almost become second nature. A former Communist and student leader, his rise through the ranks of the leftist Syriza party was swift -- secretary of the party's youth wing at 25, Athens mayoral candidate at 32, party chief at 33, parliament lawmaker at 35. Believing that he could persuade Greece's creditors to loosen the country's austerity straitjacket, Tsipras wasted no time in facing them down upon taking … [Read more...] about Reluctant reformer Tsipras keen to make Balkans history with Macedonia deal
Greek lawmakers approved on Tuesday (18 December) the country’s first post-bailout budget which projects a high primary surplus next year and sees a pick-up in economic growth. The budget forecasts the economy to grow by 2.5% in 2019 compared to a projected 2.1% this year. Greece is also expected to generate a primary surplus, which excludes debt servicing costs, of 3.6% of gross domestic product (GDP). Greece emerged in August from an international bailout, its third since 2010. Its 2019 budget has been approved by the European Commission, which has also urged the country to continue implementing reforms and remain fiscally prudent. Greece concluded its rescue programme on Monday (20 August), marking a milestone in its recent history and the end of the most difficult period for the euro area, but analysts and officials said the country faces an uphill struggle to maintain its economy sustainable. “We own this budget, it is Greece’s first since it was freed … [Read more...] about Greek parliament approves first post-bailout budget
If such an implausible appointment were ever to be made by a Labour chancellor, I would regard it as a great honour. The Bank of England stands at the pinnacle of Britain’s monetary system, which I regard as one of Britain’s great public goods. It is as vital to our economic health as the sanitation system is to public health. The development of the monetary system and the founding of the Bank of England in 1694 represented – despite all its flaws – a great civilisational advance. As the £1,000 billion bailout of the banking sector in 2007-9 proved, thanks to our monetary system, there need never be a shortage of money. We need never lack the money for all that society regards as vital to economic, social, political and ecological stability. I write that with feeling, having worked in countries that lack a developed monetary system, and therefore have no money. The Bank of England, explained the governor Mark Carney recently, is ‘the only game in … [Read more...] about Ann Pettifor: If I governed the Bank of England, here’s what I do