Politics – General Election 2015 – Tory Bribe Extended
Tory “Granny Bonds” on Sale for Longer. Tory Chancellor George Osborne has extended the deadline for the pensioner band for another 3 months. That is, until after the election. The bonds, provided by National Savings and Investments, are backed by the government. They give up to 4% interest over 3 years which is far more than is currently available to savers. The BBC’s Joe Lynam said; “We knew these pensioner bonds would be popular but few expected them to be this popular. Their arrival three weeks ago has flushed out billions of pounds of cash owned by older people. They’ve found a safe new place to park their money, with incredibly generous rates of interest. The original ceiling of £10bn has been scrapped simply because the (Tory) chancellor and his deputy (Liberal Democrat) Danny Alexander didn’t want to risk the ire of such a key voting demographic who might have missed out on such a lucrative opportunity. The fact that the newly created window for investing in pensioner bonds closes almost as the general election polls do is a happy coincidence”. But what is the cost of this Tory policy? The government borrows money at 1.2 % it lends it out at 4%. That is not good economics. There has been another, unexpected, consequence. According to Which? “Our new study indicates that 63 savings accounts, Isas or bonds had their interest rate lowered in the seven days following the launch of the market-leading pensioner bonds by National Savings & Investments on 15 January”. In other words as the Tory policy is going to underwrite more than £10bn in savings there is no longer the need for financial institutions to battle for the savings market. They have slashed their rates for the rest of us. Critics will say that ordinary working-age taxpayers will be subsidising an often wealthy group of pensioners whose homes have multiplied in value and whose company pensions are far more generous than will be the case when younger generations Generation retire. The Institute for Economic Affairs, criticised the extension of the scheme, arguing that it was distorting the market. “This announcement well and truly proves that we are not all in it together,” said Director General of the Institute for Economic Affairs Mark Littlewood. “Borrowing more expensively than the government needs to is effectively a direct subsidy to wealthy pensioners from the working-age population.” Since when has that bothered a Tory Chancellor? Mr Littlewood went on to say “Pensioner bonds have never been anything other than a gimmick that will benefit pensioners at the expense of the taxpayer, and it beggars belief that the government is prolonging such a foolish policy.” The Tory Chancellor has said that the cost of extending the scheme would be in the region of “several hundred million of pounds”. Labour’s shadow Treasury minister Chris Leslie said pensioners had suffered under the coalition thanks to the rise in VAT and changes to age-related personal allowances. “Don’t be surprised if George Osborne, as we get closer to an election, tries to give away all sorts of things when, actually, he is trying to erase the memory of how much he has taken away from pensioners. And he has not said where he is going to get the money for this. What other public services are going to suffer as a result?”
POLITICS – General Election 2015 When is a Tory Cut not a Cut?
Tory Education Promise Not What it Seems Who would have thought that politicians would say one thing and mean another? On Sunday Nicky Morgan, who ‘replaced’ Michael Gove as Education Secretary said that spending on education would be ring fenced should the Tory party win the general election 2015. Actually, she said that education spending in schools would be ring fenced. Not education spending as a whole, just the spending on schools. That leaves the way open for cuts to pre-school and higher education spending. Yesterday Cameron ‘clarified’ what the Tory pledge means. It seems that spending (only on schools, remember) would be protected only to the extent of “flat cash” per pupil spending. In other words as inflation goes up the spending would not. That is a cut. Mr Cameron said this would mean “difficult decisions”. Now, there is an euphemism if there ever was one, he means that education will be clobbered, but only after we have been so stupid as to re-elect him. He went on to say that the government had demonstrated that with greater efficiency “more could be achieved with less”. That Euphemism means that Cameron cuts the budget and those of goodwill takes up the slack, the big society and all that. You know the sort of thing, we threaten to close the local library, you volunteer to work in it for free. Labour’s shadow Education Secretary, Tristram Hunt, said that Tory claims to protect funding were “unravelling” and represented a “real-terms cut”. Mr Hunt went on to say; “The truth is that you can’t protect schools when you have plans to take spending as a share of GDP back to levels not seen since the 1930s.” I have not done the sums, and have no reason to believe Hunt’s at face value but I see where he is coming from. The Tory party has a philosophy built on the belief that the ‘state’ should be as small as possible. That is why they voted against the NHS when the Labour party brought it in. They are only being true to their core beliefs. The Tory party may say “we will protect the Welfare State” what they really mean is “screw you, if you do not have enough money to buy health insurance or pay school fees from their friends.” The Liberal Democrat’s schools minister was typically scathing and harsh. He said that Cameron’s financial commitment was “unbelievably weak”. Believe me, for a Lib Dem THAT is being very harsh. In a hard hitting, incisive, analysis he said that the Tory commitments would mean a real term cut for schools and deep cuts in spending on pre-school and post 16 education. Talking about school standards Cameron said that the Tory party “won’t tolerate failure”, they would raise achievement in 3,500 schools rated “requires improvement” by Ofsted. All this with a real term cut over the next 5 years. A good trick if you could do it, but then they can’t and they don’t care. Not only because the Tory party does not believe in the State helping those of us who can not pay school fees, but because it is impossible to raise standards and to cut resources at the same time. Cameron went on, he said that the Tory party “won’t tolerate failure” schools that are rated as requiring improvement would have new leaderships imposed on them. They would have to be taken over by academy sponsors. Big and good academies would take over small and failing academies. Failing schools would sack their headmasters, he did not mention public flogging but surely that can not be long in coming. For her part Nicky Morgan did not say that the Tory party would automatically sack the heads “Where a school doesn’t have the capacity to improve itself, and many do, or where they don’t have a plan that is going to lead to that school being rated good or outstanding, then one of the answers might be to get new leadership in.” Sounds like sacking the heads of failing schools to me. Cameron said “No-one wants their child to go to a failing school and no-one wants to them to go to a coasting school either, Just enough is not good enough. That means no more sink schools and no more ‘bog standard” he went on to say “Our aim is this: the best start in life for every child, wherever they’re from – no excuses.” Good for Cameron, the best for all children, especially if they can afford to pay fees.
Politics – The Tory Party is to Fix Education
The Tory Party is going to Fix Education, Again. Nicky Morgan, the Tory Education Secretary, has said that they are going to wage ‘war on illiteracy and innumeracy’. So that is good news. Pupils aged 11 should know correct punctuation, spelling and grammar. They should also know their twelve times table. Who could argue with that? No one, certainly not me. Although it does raise a couple of interesting questions. The first and most obvious is; So, what have they been doing for the last 5 years? Is it only important for children to read, write and do sums just before an election? The second question is; As the Tory Chancellor, George Osborne avoided answering a 7 year old who asked him what seven times eight is. Just what was he doing at school? OK, so the answer is working hard, the son of a 17th Baronet, poor old Gideon (Gideon Oliver being his given names although he now prefers George) had to slum it at schools for the underprivileged namely; Norland Place (£4,580 per term) , Colet Court ( £5,807 per term) and then St Paul’s School (£7,264 a term for a day boy, £10,880 for a boarder). Even with his education poor old George failed to get a place on The Times trainee scheme. So, luckily for us all, he did manage to squeeze into a place in the Tory Party in the Research Department. Back to the point (I know I digress all too often) Nicky Morgan, the Tory Education Secretary – whatever Michael Gove still believes – says that “We (The Tory Party) will expect every pupil by the age of 11 to know their times tables off by heart, to perform long division and complex multiplication and to be able to read a novel.” She also said that funding for education would be largely ring fenced. It would seem that funding for higher education is not included in that promise. In The Sunday Times she went on to say “They (the children) should be able to write a short story with accurate punctuation, spelling and grammar. “Some will say this is an old-fashioned view, but I say that giving every child the chance to master the basics and succeed in life is a fundamental duty of any government.” So, what have they been doing for the last 5 years? The latest Pisa league table, which ranks the test results of 15-year-olds from 65 countries, puts the UK at 26th for maths and 23rd for reading. Apparently, it is the teachers’ fault. This from a Tory government that is happy to have non qualified teachers teaching our children. Russell Hobby, general secretary of the National Association of Headteachers (NAHT) described the new tests as a “gimmick” during the election season. “Apparently head teachers will be sacked should any – yes, any – child fail the new test. We are all for aiming high but, remember, this is a short test taken by a young child,” he said. “Mistakes happen, children feel under the weather or have a bad evening beforehand. This does not mean that teachers are not working as hard as possible.” Mistakes like having a Chancellor who can not multiply 8 by 7.
Politics – The Papers React to the News of the Economy and its Current Woes
Osborne “Savaged” over his handling of the economy Poor old George. There he was a few short weeks ago boasting that under his management we had the fastest growing economy in the developed world. Even if it was true then it is not now and the papers have told him so. The guardian talked of a blow to the Tories’ strategy of using a resurgent economy as the “springboard” for the general election campaign. It said “Data from the [Office for National Statistics] added spice to the political battle over economic competence when it said gross domestic product per head – one measure of living standards – was rising but the 0.6% increase in the third quarter still left the measure 1.8% below its pre-recession peak.” Even the Telegraph got in on the act pointing out that net disposable income was static including a pointed cartoon at George’s expense. It then went on to blame those pesky Europeans (nothing changes). The Daily Mirror spoke to David Blanchflower, who was an economist at the Bank of England. He said that the results on the economy may George “look like a buffoon”. The savaging came from Danny Alexander the Lib Dem chief secretary to the Treasury. He complained that £60bn of the spending cuts demanded by George are unnecessary, some of us would argue that they are ideology driven. He said “The Tory agenda to keep reducing public spending beyond what is necessary would result in the wilful destruction of important parts of our public services. That is not appropriate or right for this country.” What happens when your claim to be the only party that can run the economy falls apart?
Politics – The Tory Party at War
The Tory Party may not be at war but tensions are running high! The race to be Cameron’s successor seems to be ramping up inside the Tory Party. We all know that Boris (the public buffoon who is really calculating and determined) is in the race. So is The Chancellor George Osborne (formally Gideon Oliver Osborne – the Gideon did not have the common touch. Frankly George, it would take more than a name change). Now, Theresa May is also beginning to make waves, quite big ones actually. She has been told to get a grip of her aides who are beginning to resemble the packs of aides that surrounded Blair and Brown. Two of them refused to canvass during the campaign for Rochester and Strood. For that Nick Timothy and Stephen Parkinson were suspended from the list of approved Tory Party parliamentary candidates. They said that they could not campaign as it was against the rules for aides to undertake party political work. Both Grant Shapps, the Tory Party chairman and Cameron himself disagreed. May went to bat for her underlings, but to no avail. Rumour has it that some members of the Tory Parliamentary Party are accusing her of not being a team player. Not the sharpest knives in the drawer are they? She never has been. The question of Timothy and Parkinson rumbles on, they will be admitted back into the Tory Party fold if they agree to campaign, so far they have not done so. Obviously they still have her support. The Sunday Times (21/12/14) talked of May starting a war against other ministers when she announced that Universities would have to ensure that foreign students would have to leave the country once their studies have finished. That sort of thing always plays well with the rabid right of the Tory Party, or the nasty party as May called it some years ago. The problem about students over staying has been dealt with. The bogus colleges that was a one way ticket into this country have been closed. The bogus student problem is over. What May is talking about here are those students that been to real universities and colleges, the sort of people who would help this country by using their qualifications here, not abroad. Not surprisingly her plan will be opposed by The Treasury and The department for Business, Innovation and Skills. They believe that Britain could only benefit if highly skilled overseas graduates are allowed to enter the UK job market after completing their degrees. Addendum. An interesting comment from the Daily Mail Online about the war in the Tory Party. Number Ten is said to be fed up of criticism of what they see as incompetence in David Cameron’s political operation from May’s camp Chancellor George Osborne is said to have been concerned by a surge in support for Mrs May among party activists, among whom she is now the clear favourite to succeed Mr Cameron, though sources insisted he had played no role in the suspension of Mr Timothy and Mr Parkinson. One of the Home Secretary’s supporters was yesterday quoted as saying: ‘Osborne is obsessed with having spies everywhere so he can either succeed Cameron or be kingmaker. Theresa has every right to protect her own interests. ‘That is not disloyalty and she will not be intimidated by anyone in Downing Street.’ Tory Party backbencher Nadine Dorries said: ‘The man pulling the strings is Osborne, not Cameron. ‘Osborne is desperate to ensure he has enough Tory Party MPs in place to vote him on to the shortlist of two, which is put before members to choose the next leader, should there be a contest in 2015. Those two are likely to be Boris Johnson and Theresa May.’ She added: ‘If Nick and Stephen become MPs that is two more votes for Theresa and two fewer for George. Theresa has had a lot to put up with. The more popular she is among party members, the nastier it becomes in Westminster.’ Mrs May has repeatedly stressed her loyalty to Mr Cameron and personal relations between the two remain reasonable, though she has never been part of his inner circle. However, the Home Secretary, dubbed ‘Britain’s Angela Merkel’ by allies, is thought to regard Mr Johnson as a ‘faintly ridiculous’ figure and would run against him if the Tory Party loses in May and Mr Cameron is forced to quit. So she thinks that the Tory Party might lose in May?
Phil’s British Heart Foundation Donation – you know it makes sense
