News digest 16 February 2011
The digest starts with more dosh for the
rich bankers while the rest of us need to prepare for rate rises,
the north south divide has widened, the welfare bill is on its way,
council cuts are coming as are demonstrations. There’s a plea for
farm unity, Premier Foods is paying off its debt while Fosters
sells wine and then while there may be some trouble in the City
skies, bus delays may be compensated and train travellers had
trouble, the MG6 is finally almost ready to go as may some of
Cameron’s top team…
Bonuses at
Barclays– All the papers report on Barclays latest
results with the bank seeing a 39 per cent rise in high street
profits and total profits of £6 billion, or £192 every second. The
higher than expected profits means bankers are in line for £3.5
billion in bonuses. Unite general secretary Len McCluskey said:
“Barclays decision to award these mammoth bonuses to
its top bankers is shameful. These bonuses undermine any claim by
the government that there is fair pay in banking.”
while the Mirror (p6) sums
up the attitude with a quote from a Barclays capital trader:
“The good times are back. Even if a guy is really lazy
… he’ll still get a £600,000 bonus.” Think it’s time
for the government to step in and tax the bonuses properly
(Sun p2, Express p4, Mail p2, Times p34, Indie p33, Guardian p2, Telegraph b1, FT p17, Morning Star p2, Unite
release).
Rate rises for the rest of us
– Inflation rises again, with CPI hitting 4 per cent and RPI 5.1
per cent as the effect of higher fuel and food prices combines with
the VAT increase. Prices are now rising at the fastest rate for 14
years and the result is that economists expect interest rates to
rise over this year, with current thinking being three rises by
December. And as earnings for ordinary working people are rising by
a measly 0.6 per cent everyone is facing a real pay terms pay cut
(Mirror p4, Sun p14, Express p1/7, Mail p4, Times p6, Indie p10, Guardian p25, Telegraph p1, FT p1, Morning Star p5, Unite
release).
North-South divide widens –
The split between north and south is now at its worst since 1965,
with figures showing 20 per cent more people die early in the north
of England, and the research – by the University of Manchester and
the city council’s joint health unit – shows that the divide will
worsen as the Con-Dem cuts bite (Mirror p15, Express p35, Indie p2, Guardian p6).
Welfare reform bill on its
way – Bill to be introduced tomorrow with £500 bribe for
couples to move in together the sweetener to cover billions in
benefit cuts, although interestingly the Times (p3) notes that £270
million of benefit fraud is down to couple’s saying they don’t live
together…
Defending social housing –
And the Morning
Star (p1) leads on the demonstration against changes to housing
benefit, rents and secure tenancies outside parliament
yesterday.
Top earners welcome –
Government’s immigration cap will not apply to anyone earning more
than £150,000 a year (Express p15, Guardian p13FT p4).
Council fat cats challenged –
And following on from caps for councillor allowances, Eric Pickles
latest idea is that councillors will have to vote on pay packages
of more than £100,000 for council staff (Sun p2, Express p4, Mail p4, Telegraph p8).
More council cuts coming –
The Sun (p28-29) continues
its list of council cuts, but neglects to mention Southampton –
where Unite members are demonstrating against Tory cuts today – and
Hull council which is slashing its youth services even though the
Lib-Dem leader complained about coalition cuts (Unite
releases).
BMA bother – And the Guardian (p10) reports the head of
the BMA’s future is in doubt as grassroots doctors believe the body
has done too little to oppose Lansley’s NHS shakeup, an emergency
meeting has been called for 15 March which could see Dr Hamish
Meldrum ousted…
NHS bother – And after the
poor treatment for the elderly highlighted yesterday today’s
Mail (p1) splashes with
the story that a couple of NHS trusts are looking to take
legal action to evict ‘elderly bed blockers’ even if there may be
nowhere for them to go.
Plea for farming unity – And
Unite calls on the NFU to work jointly to rebuild the agricultural
sector, said Unite national officer Ian Waddell: “I
urge the NFU to break with tradition and work with us to get a fair
deal for farming from the supermarkets and food processing
industry. Together we can tackle the retail giants and build a
farming industry with fair pay, reasonable hours and a professional
career structure.” (Morning Star p4)
Premier Foods debt drops –
Debt falls to half the level seen at its height, evenso the food
company still owes £900 million (Sun p47, Times p38, Telegraph b3).
Fosters to flog wine – And
the much expected announcement of the Fosters’ demerger of its wine
business is expected to come to fruition in May (Times p39).
Morrisons buys Kiddicare –
Supermarket takes over online company as it looks to launch a
non-food internet business (Express p68, Mail p73, Times p37, Guardian p24, Telegraph b3, FT p18).
Farepak directors
disqualified? – Formal proceedings that could see the
directors of the collapsed xmas hamper business – including former
CBI director general Sir Clive Thompson – disqualified from sitting
on City boards for up to 15 years have been started by the
Insolvency Service, remember that the next time the CBI lectures
about red tape (Times
p33, Indie p34,
Guardian p22, Telegraph b1, FT p1).
City Airport
strike – GMB members balloted in dispute over pay
and terms and conditions (Indie p38).
Bus delay bonus – But good
news for travellers as a vote in the European parliament has given
coach and bus travellers the right to compensation for delays and
cancellations, although it only applies for trips of over 155 miles
and kicks in in 2013 (Indie p18).
Train trouble – Eurotunnel
train broke down yesterday trapping 97 passengers for two hours
(Sun p24).
OMG – And the Sun (p22) shows the new MG models
which are to be part assembled in Longbridge; £45 million has been
used to bring the mothballed site back to life. The first of the
three new cars – the MG6 Fastback - will go on sale in April. 80
per cent of the car is built in China before being shipped for
final reassembly in Longbridge.
AV battle - And back to
Westminster where there is more debate on the AV vote. MPs
yesterday threw out the Lord’s amendment for a 40 per cent minimum
turnout while rumblings over who pays the bills for the rival
campaigns also appears, the ‘no’ campaign plans to wheel out Clegg
as their secret anti-weapon (Express p2, Mail p20, Indie p20, Guardian p14, FT p2).
PM’s shuffle – And not all
good at Number 10 as the Guardian (p8) reports that Cameron
is planning to shake up his team after a series of policy gaffes,
it’s not the presentation Dave, it’s the policies that need
changing…
Edited by Mik
Sabiers
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