tag:blogger.com,1999:blog-10306285706616156892024-03-13T22:30:04.927-07:00Accountancy DistilledThe blog is to discuss UK accountancy issues and matters as well as get to the nitty gritty on things such as football, politics and economics.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.comBlogger259125tag:blogger.com,1999:blog-1030628570661615689.post-3874943047785768182012-03-07T07:45:00.001-08:002012-03-07T07:46:45.702-08:00This is just a test to make sure everything is live!!It will be interesting if we have no mansion tax and a withdrawal of the 50 pct tax rate in the United Kingdom. Will Lib-Dem Vince Cable step down? He has been a pretty poor Business Secretary.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com2tag:blogger.com,1999:blog-1030628570661615689.post-76400639690768896412012-02-27T09:18:00.003-08:002012-02-27T09:21:49.680-08:00Will Manchester City slip up in the Premiership race?I can't see Manchester City slipping up in the Premiership race against close neighbours <a href="http://www.manutd.com">Manchester United </a>after seeing the sky blue side wallop poor old Blackburn Rovers, who did not make much of a contest of it.<br />http://www.mcfc.co.uk/fixturesAccountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com1tag:blogger.com,1999:blog-1030628570661615689.post-35748095703290069472012-02-27T09:00:00.008-08:002012-02-27T09:17:54.261-08:00Watford FC got turned over last Saturday by Southampton?Dear Reader,<br /><a href="http://www.watfordfc.com">Watford FC </a>got turned over last Saturday afternoon at Vicarage Road by <a href="http://www.saintsfc.co.uk">Southampton</a> courtesy of a Ricky Lambert hat-trick. A fan of one his former clubs <a href="http://www.brfcforum.co.uk">Bristol Rovers </a>says he is brilliant at deadball situations but lacking a bit of pace maybe to make the big time in the Premiership. Lambert's third goal was a penalty, which nearly burst the net. I know the Watford fans around me thought the penatly was won with a dive but I saw the push and immediately called the penalty, which was a doughnut thing to do, since I was supposedly supporting the home team.<br /><br />As for things financial, I get the impression that the Germans want the Greeks to exit the euro. Being described as a <a href="http://rt.com/politics/columns/sergey-strokan-column/greece-eu-bailout-default/">"bottomless pit by German finanz boss Wolfgang </a>Schauble, is not very pleasant for Greece. If the Hellenic Republic did leave the single currency, then it could lead to a collapse of the banking system, real riots on the street and a military coup to restore order.<br /><br />I know Argentina's financial system fell apart when the dollar-peso peg was broken but the country had/has resources such as gas and cattle to help recovery, which the Greeks simply do not have. Perhaps, if the Greek population pay its taxes that might help in the long term but not when the economy has already contracted so much.<br /><br />Greece and its islands are a major tourism asset but rather than an internal devaluation within the euro based on pay cuts etc, it would make sense for the reestablishment of the drachma. How to do this without the country fallinig apart will be very difficult.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-39611000122366811252011-12-23T03:30:00.002-08:002012-02-27T08:59:44.158-08:00I don't think Ed Miliband wants to be Prime Minister!Dear Reader, I get the impression that Labour Party leader Ed Miliband does not really want to be the prime minister of the United Kingdom. I read (and hopefully it is wrong) that his favourite sports were basketball and American football. Someone should have told him that he should support a football team. Tony Blair did that with Newcastle United and I remember the great play of John Major supporting <br />Chelsea (which was genuine).<br /><br />The teams I follow are <a href="http://www.manutd.com">Man Utd</a>, <a href="http://www.tottenhamhotspur.com">Spurs</a>, <a href="http://www.watfordfc.com">Watford</a>, <a href="http://www.leytonorient.com">Leyton Orient</a>, <a href="http://www.brfcforum.co.uk">Bristol Rovers </a>and <a href="http://www.barnetfc.com">Barnet</a>. I am 51 pct a Man Utd fan, which might oscillate to 100 pct on Europa League<br />night (what is Man U's favourite perfume? Chanel 5!).Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-41694689086730135792011-12-15T05:54:00.000-08:002011-12-15T06:06:12.792-08:00I HAVE GOT A FEW POSTS IN THE PIPELINE!!Dear Reader, I have got a few posts in the pipeline with subjects such as David Cameron, Ed Miliband, <a href="http://www.davidlammy.co.uk">David Lammy</a>, the European single currency and Manchester City. I have added a few bits to my recent obituary of Welsh footballer and manager <a href="http://www.dailymail.co.uk/news/article-2066812/Gary-Speed-death-rumours-Happily-married-wife-Louise-wasnt-depressed.html">Gary Speed</a>, who recently committed suicide. <br /><br />David Lammy is the Labour MP for the troubled area of Tottenham and he is recently said how it is there. He is also the opposition spokesman for higher education but I think he should have resigned when he served in the late Labour government as the administration was trying to force through some barmy policies.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-42610721026153873572011-12-01T07:13:00.000-08:002011-12-15T05:53:15.423-08:00The tragic passing of Welsh footballer/manager Gary Speed.I remember seeing <a href="http://www.mirrorfootball.co.uk/news/Gary-Speed-dead-Newcastle-ask-fans-sing-Welsh-hymn-Bread-of-Heaven-at-Chelsea-game-in-tribute-article836805.html">Gary Speed </a> playing at the end of his career for <a href="http://www.bwfc.co.uk">Bolton Wanderers </a>against <a href="http://www.tottenhamhotspur.com">Tottenham Hotspur </a>at White Hart Lane. I think Spurs won 4-1 but for Bolton's consolation goal, Gary Speed put away a penalty for the Greater Manchester team. When he went up to take the penalty, I think probably everybody in the stadium knew that there was only one way it would end up: the ball nestling in the back of net.<br /><br />I think I also saw Speed score a great header for <a href="http://www.evertonfc.com">Everton </a>against Spurs, which helped the Liverpool-based team stay up in the Premier League that year. Teddy Sheringham was leading the attack that day and I don't think Spurs was trying too hard. My memory often plays tricks and if he did not score, Speed played well. Another memory was how welcoming the Everton fans were to a Spurs family in a cafe before the match.<br />For me visiting Goodison was like going to a Catholic shrine, very emotional, and the same applies to Anfield when I saw <a href="http://www.liverpoolfc.tv">Liverpool FC </a>eke out a 0-0 draw against the Spanish club <a href="http://www.canaldeportivo.com">Deportivo de la Coruna</a> (sorry I am not going to bother with the tilde on the n). Listening to the fans<br />sing "You will never walk alone" was amazing. And perhaps more amazing was that Liverpool won the European Champions League that year.<br /><br />Speed was such an amazing professional and this showed by him being successful at a range of clubs. He was also doing well at Wales manager. I had never heard before the story that he became the unofficial chauffeur of former <a href="http://www.nufc.co.uk">Newcastle United </a>manager <a href="http://en.wikipedia.org/wiki/Bobby_Robson">Sir Bobby Robson</a>, so as to learn from the master's knee. Newcastle is one of my favourite clubs since I have got<br />Geordie relations (I am probably half Geordie by genes if that is possible).<br /><br />"ETERNAL REST GRANT UNTO HIM <strong>O <strong>LORD</strong></strong> AND LET PERPETUAL LIGHT SHINE UPON HIM. MAY HE REST IN PEACE."Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-66930352138269197712011-11-24T09:14:00.000-08:002011-12-15T05:08:11.083-08:00The euro could could collapse by the weekend!!Dear Reader, the European single currency could collapse by the weekend! Or maybe not that soon but maybe by the beginning of 2012. The game is up if the Chinese and Japanese don't want to lend ten year money at very low rates to Germany. In today's Daily Mail an article on the U.S by <a href="http://www.dailymail.co.uk/debate/article-2065500/Barack-Obama-weak-President-United-States-Paralysis.html">Max Hastings </a>described German leader Angela Merkel as an adequate city mayor. I think that it is a bit harsh.<br /><br />While a recent article in the Times by the so-called economics expert Anatole Kaletsky shows him to be a bit deranged. OK it looks like a German takeover of Europe but if national governments want their budgets to be approved first in Berlin (Ireland, Greece etc) then it is up to them. For instance, nobody asked the Irish banks to massively expand their balance sheets and go bust taking the country with it. I read once that a Irish bank took a big group of local property developers to Chicago on a jolly as a way of getting loan business.<br /><br />Apparently, Ireland wants to review its bail-out package since the country looks stupid trying to pay back its debts with the Greeks getting debt relief (sovereign bond haircut) of at least 50 pct from the commercial banks. If Ireland leaves the euro, I don't think <a href="http://www.rbs.co.uk">Royal Bank of Scotland </a>and <a href="http://www.lloydstsb.com">Lloyds Bank </a>would be too impressed!<br /><br />What can we do in the UK? Cutting personal and business taxes (perhaps slowly) would would help (<a href="http://www.investopedia.com/terms/l/laffercurve.asp#axzz1ee6CUaf0">the Laffer curve</a>). Hope more companies follow the example of European aircraft manufacturer Airbus and Swiss food group Nestle in<br />announcing new jobs. Sack <a href="http://www.dailymail.co.uk/debate/article-2065448/Another-victory-Vicky-Price-Chris-Huhnes-new-partner-Cara-Trimingham-lobbying.html?ito=feeds-newsxml">Chris Huhne </a>and rethink the windpower programme. <br /><br />To protect social cohesion/integration, if things get really nasty, one idea would be to reintroduce some kind of conscription focusing on green projects, looking after the elderly etc without the military angle. If you are paying benefits to the hoodies, you might as well get them doing something useful. <br /><br />UK chancellor George Osborne might talk up infrastructure projects but we are where we are. The infrastructure projects are too smaill and they will take too long. Expecting rich sovereign wealth funds to invest in "Boris Island" is just pie in the sky!!<br /><br />Columnist <a href="http://www.spectator.co.uk/spectator/thisweek/7256618/the-great-euro-swindle.thtml">Peter Oborne </a>opines that the collapse of the euro will completely discredit the European elites. As long as it shuts up that EC idiot Jose Manuel Barroso I would be happy. He has been European Commission president since November 2004, so it is time for a change.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-10540056224150877022011-11-22T07:13:00.001-08:002011-11-22T07:36:56.473-08:00David Cameron did not have to go begging to Berlin!!Dear Readers, I thought the recent trip by British premier <a href="http://en.wikipedia.org/wiki/David_Cameron">David Cameron</a> was degrading. I do not see any point in begging the Germans for anything. If Angela Merkel wants to see the Euro collapse, then it is up to her. I can understand the German electorate not wanting to underwrite the crazy economics in countries such as Italy and Greece, where the local populations can retire a lot earlier than in Germany. However, expecting Greece, Italy and Spain to reform at breakneck speed is pointless. <br /><br />For instance, <a href="http://en.wikipedia.org/wiki/Mariano_Rajoy">Mariano Rajoy </a>has won the general election in Spain for the centrist-right Partido Popular. He does not strike me as a Spanish Maggie Thatcher in the making prepared to reform the labour market (taking on the unions, ending collective bargaining etc), reducing the 17 regional governments to just two (the Catalans and Basques) or reforming the university sector, where lots of Spanish students spend years learning rubbish subjects. <br /><br />However, I would be loath to give Sr Rajoy advice on these areas since the United Kingdom has exactly the same problems (politically motivated public sector unions),<br />the expensive Welsh and Scots and a non-performing university system. However, some British universities are the best in the world while Spanish business schools featured very strongly in a recent Economist survey. Spain has a great tourism sector<br />winning back business with the collapse of places like Tunisia and Egypt. What the country needs is time to get back on his feet after the mismanagement of Zapatero.<br /><br />As for Italy, its banks did not buy many Greek government bonds, its citizens are wealthier than Germans and the country has some great companies and top managerial talent. However, Italy will never really pay off its debt mountain. One common problem for Italy and Spain is the level of corruption, especially siphoning off cash to fund political parties.<br /><br />http://www.expatica.com/es/news/spanish-rss-news/spanish-corruption-probe-finds-millions-in-swiss-accounts---report_31311.htmlAccountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-73650699782717256982011-11-14T08:03:00.000-08:002011-11-22T07:13:14.779-08:00I am sorry about the dilatory nature of posts!!Dear Reader, I am sorry about the dilatory nature of posts. I used to like moaning a bit about former UK premier <a href="http://en.wikipedia.org/wiki/Gordon_Brown">Gordon Brown </a>but I could not get the same enthusiasm in complaining about <a href="http://en.wikipedia.org/wiki/David_Cameron">David Cameron </a>et al. However, I am getting a little irritated about<br />the incompetence of the Tory/Liberal administration. The main example of ths was the lack of protection for citizens during the summer riots. Given the amount of money we pay in tax and the amount of intrusion we face from the authorities, the UK population deserve a better deal.<br /><br />So hopefully I will be back on the blog trail!!<br /><br />Today, the press has been reporting George Osborne's negative comments about the French economy. I thought the British chancellor would have enough on his plate with<br />problems such as youth unemployment rather than worry about our neighbours. France has higher productivity per employee than us and some amazing world-class companies such as L'Oreal. The French also make pots of money from the design of the European Union (EU), which enable the country to survive its bonkers employment legislation, which restricts the hours people worked. This explains why you can be in France and not get a meal after 9pm.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-58028650146663677032011-10-04T03:53:00.000-07:002011-10-04T03:58:29.511-07:00Are there really opportunities in Tottenham?I was a bit surprised when British Prime Minister David Cameron said there were opportunities in Tottenham on television last night. Whenever I go there, I am surprised how little the place has changed over the years. Let's hope Spurs will be able to build its new stadium at White Hart Lane, which might give the area a bit of pep.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-46773694930328235162011-07-18T08:43:00.000-07:002011-07-18T08:57:29.080-07:00Education minister Michael Gove is still with us!!With the United Kingdom falling foul of Murdochmania, the education minister <a href="http://www.michaelgove.com/">Michael Gove </a>is still trundling along. I suppose his reforms might work but they could take a long time to make the normal, bog-standard comprehensive any different. The move to<br />academy status and giving head teachers more independence might help but there are not enough inspirational head teachers to go round.<br /><br />In an interesting article former Education minister <a href="http://www.guardian.co.uk/education/2011/jun/27/michael-gove-education-policies">Estelle Morris </a>says there is no<br />big picture strategy just quite a few minor changes based on a narrow political focus.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-70780304569162670992011-03-29T12:07:00.000-07:002011-03-29T12:21:57.969-07:00It looks like Michael Gove is sinking without trace.It looks like the UK Coalition Government's schools minister Michael Gove is sinking without trace. His "free schools" policy seems to be hitting the buffers while each major decision has to be followed by a<a href="http://www.mirror.co.uk/news/politics/2011/03/29/michael-gove-in-yet-another-u-turn-115875-23022962/"> U-turn</a>. I have to accept that it is not easy stepping up from a job of newspaper columnist to running a major government department and certainly not easy dealing with the educational establishment in England. Apparently, Mr Gove is a good friend of Prime Minister David Cameron, but perhaps that will not save him from the axe.<br /><br />I don't think the Department of Education expected to clamp down on the possible teaching of <a href="http://www.guardian.co.uk/science/2011/mar/21/free-schools-creationism-department-education">creationism</a> by potential free schools and it is difficult to argue against the assertion from "<a href="http://www.labourteachers.org.uk/2011/03/19/dfe-admits-gove-is-incompetent-and-has-wasted-millions-of-pounds-of-taxpayers-money/">Labour at the Chalkface</a>" that Gove is incompetent.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-10238788657195940932011-03-29T11:51:00.001-07:002011-03-29T12:04:31.916-07:00The wheels are already falling off the coalition's policy for universities.The wheels are already falling off the coalition government's policy for English universities. I don't think the powers-that-be expected universities such as Exeter,<br />Manchester and Essex to start charging £9000 a year. We can thank two brain<br /><a href="http://www.bis.gov.uk/ministers/david-willetts">David Willetts</a> for that.<br />Last week's Sunday Times was a bit depressing. <a href="http://buckyville.yuku.com/reply/492011/Re-Chinese-students-steal-secrets-inventor-James-Dyson">James Dyson </a>said it was madness educating our competitors and complained that some Chinese students were spies while there was a story that Oxford University was not taking cheating and plagiarism seriously.<br /><br />I went to a polytechnic and we had quite a few lessons during the week and we were expected to go them. The common refrain from students is that they have acres of free time and the experience is not quite as portrayed in the prospectus. I do feel sorry for university lecturers trying to teach the increase in student numbers and do research. However, it was unfair for some lecturers to go on strike recently in defence of their pensions. That is an issue, which should be negotiated.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-24869167093776398312011-03-29T11:29:00.000-07:002011-03-29T11:46:38.451-07:00I was impressed by Jack Wilshere last Saturday.I was impressed by <a href="http://footballgirls247.com/2010/12/05/jack-wilshere-gunner-marry-girlfriend-lauren-neal/">Jack Wilshere </a>playing for England v Wales last Saturday. Perhaps it represents a change of policy for his <a href="http://www.arsenal.com">Arsenal</a> manager Arsene Wenger to try and develop local talent. I read in the Sunday Times that Arsenal is the team, which has employed the most foreigners in the last few years and Arsene always complains about the alleged rough-house tactics of lesser teams such as Stoke, something never stated by <a href="http://www.manutd.com">Man Utd's Fergie</a>, who usually treats the opposition with<br />respect. However, Arsenal have a good chance of winning the league this year and it will be interesting to see if they take it.<br /><br />It must be hard for Wilshere playing with the least-talented Brazilian (Denilson) in the Premier League, although there are reports that a host of Brazilian youngsters will be joining Man Utd soon like Fabio and Rafael with the scam of getting Portuguese passports. Personally, I don't think Fabio and Rafael will make it as full backs since they are too small and you just lob the ball over their heads. <a href="http://www.arsenal.com/first-team/players/denilson">Denilson</a> is apparently a home-grown player but if that is true I am a banana.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-14196747603497703992011-02-15T07:52:00.000-08:002011-03-29T11:28:09.840-07:00Dave looks a bit weak about the Big SocietyBritish prime minister David Cameron did not look too convincing about his promotion of the <a href="http://www.bournemouthecho.co.uk/news/8853540.David_Cameron_s_Big_Society_could_cause_big_problems/">"Big Society"</a> yesterday. Anyway that is my view. In most areas the local council is the main player because it holds the purse strings and thereby has the resources to carry out projects. <br />Although councils can be much maligned in many locations they do have the expertise to help run schools and look after the elderly. Perhaps these activities can be outsourced to private providers to save money but look at the problems of the private care home operator <a href="http://www.telegraph.co.uk/finance/newsbysector/pharmaceuticalsandchemicals/8187517/Southern-Cross-Healthcare-losses-double-on-rent-hikes.html">Southern Cross </a>loaded up with debt by private equity<br />purchasers.<br /><br />In addition, it is a sad state of affairs that most English people do not want to volunteer for anything. Most don't want to know their neighbours and perhaps we have a duplication of charities (too many of them). Existing volunteers are perhaps dismayed by the lack of a new generation of people coming through. <br /><br />Also, the British government has no shown no sign of working with civil institutions such as trade unions, churches, mosques, temples etc, which already do their best in helping people participate in society.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-57845354899500402282011-02-09T06:46:00.000-08:002011-02-15T07:52:08.446-08:00It looks like Dave and Gideon are feeling the heat.Dear Reader, it looks like the <a href="http://www.number10.gov.uk">Old Etonian mafia </a>are feeling the heat. The <a href="http://www.spectator.co.uk/coffeehouse/6684563/a-legion-of-attacks.thtml">Royal British Legion </a>has accused the government of breaking the military covenant while increased job losses in the pipeline are not going to help stimulate economic confidence. Some public sector workers (and I say this with a heavy heart) will not find private sector conditions very conducive. Lower holidays, can't go on sickies and no pension plan (although we will have this stuff and nonsense called NEST coming your way soon)are not particularly attractive to some people in the UK public sector (especially amongst Catholic public sector people in Northern Ireland, I suppose it is part of a Gandhi-style disobedience campaign).<br /><br />I am sure disaffected public sector voters will vote for Labour at the next election but if this is four years away then it would be simply too late for them. New Labour had already initiated cutbacks in the National Health Service (NHS)such as the planned closure of A&E departments like <a href="http://www.bcfc.nhs.nhs">Enfield Chase Farm</a>. (See Note***)<br /><br />Changing the subject it is a shame <a href="http://www.nestpensionadvice.co.uk">NEST </a>was not up and running a few years ago and we would still have some more British companies, which have been since swallowed up by foreigners, to invest in. The roll-call includes Cadburys, Smith & Nephew, Wellstream and British Oxygen (BOC). Here, everything is up for sale. The City is like Wimbledon. We host the tournament but don't win it. Even the Spanish bought up Bristol Water, Luton Aiport, BAA and O2. While our major investment was the massive amount of money wasted on the Vodafone acquisition of the German company Mannesmann Telecom.<br />Makes you glad to be English!! <br /><br />Gawd knows why the London Stock Exchange (LSE) wants to merge with Toronto Stock Exchange. I suppose it is to get rid of the threats from the French and Germans.<br /><br /><br />Note*** Chase Farm was originally a profitable hospital then it was shunted into a joint operation with Barnet General. Now it is threatened with closure because greedy w***ers see a nice little earner selling off the site for housesAccountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-33908136187539923362011-01-25T09:11:00.000-08:002011-01-25T09:17:17.196-08:00Are we going for the double dip recession?I don't think David Cameron and George Osborne will be happy bunnies with today's<br />disappointing quarterly GDP's figures. I suppose blaming the bad weather is a pretty lame excuse. With a limited manufacturing sector it would always be a big ask. The 0.5 pct fall in GDP joins the shocking inflation figures with economic commentators saying the Bank of England has lost the plot. The British central bank is certainly behind the curve and can only keep its fingers crossed.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-42720449973826091552011-01-19T07:25:00.000-08:002011-01-19T07:42:23.371-08:00Sorry for the long New Year/Xmas break!!Dear Readers, sorry for the long New Year/Xmas break!! I have been having problems with things such as the black dog and with how many promises the Coalition government can break. Today's unemployment figures are disappointing and it was naive of the Cameron-Clegg administration to think that the private sector in the UK would take up the jobs lost in the public sector.<br /><br />Over the Xmas period I was in Spain and we share similar problems such as very high youth unemployment. Our relatively flexible labour market has not been able to sort out this problem either.<br /><br />Apparently, the Spanish economy is so troubled that the number of non-European Union workers has actually gone down. On the Easyjet plane back it was 95 pct full of Spanish passengers, who looked like they were coming back to study or to work. It is going to be tough going for our own youngsters (English ones), who are discriminated against in terms of university fees and job opportunities.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-41753410719368425622010-11-30T00:37:00.000-08:002010-11-30T01:03:15.688-08:00Well are we on home strait for World Cup bid?Whenever I read about our World Cup bid (a bit of a misnomer because we are not prepared to pay the commissions required) I am always amazed about the news management we put up with in the UK. Last night both the ITV and the BBC interviewed David Beckham, who was upbeat about the bid, without mentioning the fact that the Russians were favourites with the Spanish/Portuguese. Although there would be different time zones, which would probably affect television coverage, I am quite happy for the competition to go to Russia. We have already got the white elephant of the 2012 Olympics, where I suppose there will be the benefits of opening up a part of East London and of <a href="http://whufc.com">West Ham </a>moving to a new ground.<br /><br />The main advantage for our World Cup bid is that we have the stadia in place such as<br />Wembley, Old Trafford and the Emirates. There would not be major distances for fans to travel and there would be the added bonus of our football yobs not having to travel abroad. I suppose this will all be irrelevant after the BBC's <a href="http://news.bbc.co.uk/panorama/hi/default.stm">Panorama </a>programme on <a href="http://www.fifa.com">FIFA</a>.<br /><br />If we did not get the 2018 competition, at least we would avoid the embarrassment of England being knocked out in the qualifying round. With the Premier League you could not set up a more inimical structure to the interests of the national team. How many<br />domestic players get picked for <a href="http://www.arsenal.com">Arsenal</a>?Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-18855459030363482342010-11-18T12:35:00.000-08:002010-11-18T12:47:56.386-08:00David Cameron and his vanity staff!!There are claims that British Prime Minister David Cameron used the announcement of the royal wedding to bury the "bad news" that his <a href="http://www.newstatesman.com/blogs/the-staggers/tag/david-cameron">personal photographer </a>and his wife's stylist would not be going on the government payroll after all. I don't believe these claims at all but the proposed appointments did show an unhealthy interest in media management. Well, at least we have got the new term "vanity staff" in the UK political language.<br /><br />What is perhaps more worrying is the pressure on the <a href="http://www.telegraph.co.uk/sport/football/teams/england/8137864/World-Cup-2018-Government-want-BBC-to-cancel-Panorama-on-Fifa-corruption.html">BBC</a> to delay a Panorama programme on the World Cup bidding process because it would annoy FIFA. I think the<br />BBC's independence should be cherished more than winning the right to host the<br />World Cup.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-53150598580013608942010-10-29T04:06:00.000-07:002010-10-29T04:54:39.427-07:00David Cameron in Vichy-style surrender? EU budget.Is <a href="http://en.wikipedia.org/wiki/Norman_Tebbit">Norman Tebbit </a>right in saying that UK prime minister <a href="http://www.davidcameron.com/">David Cameron </a>is carrying out a French Vichy-style surrender over European Union plans to increase its budget?<br /><br />Apparently, we have to go along with a 2.9 pct increase compared with a wish of 6 pct. This does not sit well with benefit cuts in Britain. Maybe Mr Cameron is being patient because the Eurozone could collapse soon thwarting the attempts by German and French banks to pass on their losses on government bonds from countries like Greece to European taxpayers.<br /><br />David Cameron is not the only Euro leader having difficulties. Some 11 member countries are not overly impressed by German chancellor Angela Merkel's idea for<br />profligate countries to temporarily lose their voting rights.<br /><br />I think I have said previously we, the UK, have to be in the Euro game to win it. A bit of intelligence might get what we want rather than implacable opposition. I suppose it is difficult to go to these Euro summits, if you are always portrayed as the trouble maker, although Lady Thatcher did not mind and some of our Euro partners<br />did hide behind her skirts. <br />If I was Cameron, I would suggest that the EU Commission should relocate out of Brussels and Strasbourg to a cheaper location such as Vilnius or Riga. This would avoid the scandal of Baroness Ashton taking up very expensive office space in Brussels for her Euro diplomatic corp. I am sure you could have a purpose-built Euro village in Latvia for not too much money.<br /><br />Cameron could also propose that European Commission president <a href="http://ec.europa.eu/commission_2010-2014/president/index_en.htm">Jose Manuel Barroso</a>, such a talented politician, should go back to Portugal and help sort out the political/economic mess there. Obviously, these things would not happen but it might prove a reality check for the Eurocrats. Barroso wants the full 6 pct rise in the budget. I remember even the hapless John Major easily blocking a Belgian candidate for an Euro post.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-51482959211498405572010-10-26T07:54:00.000-07:002010-10-29T04:06:07.720-07:00Apparently the UK has secured a more stable rating.One of the credit rating agencies considers that the rating of the United Kingdom economy is more secure following the public spending review of George Osborne, where<br />spending is going up in nominal terms. However, quite a few domestic commentators are concerned about the widening gap between north and south. There is the argument that if the regions did not create many private sector jobs when things were good, then they are unlikely to do so after public sector job losses.<br /><br />If the public sector job losses are decided by the bureaucrats, then they will be safe and front-line services will be hit. My health services have already been affected and the NHS is supposed to be safe with the Coalition government! In the Greater London area Enfield and Sidcup, A&E services are to be "reconfigured". Just hope the ambulances can go faster to reach their longer destinations in time.<br /><br />In the "New Statesman" US-based economist <a href="http://www.newstatesman.com/uk-politics/2010/10/government-spending-labour">Danny Blanchflower </a>is pretty scathing about the economic experiment of George Osborne but the recent quarterly GDP figure of 0.8 pct growth is not bad and maybe the British economy might be lucky. However,<br />lifting exports is going to be hard with such an unbalanced economy.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-18727459470897990682010-10-21T07:11:00.000-07:002010-10-21T07:43:45.141-07:00UK chancellor George Osborne gambles our future - papers.I have been reading quite a few of the commentaries on the public spending review announced by UK chancellor George Osborne published in the newspapers today. Quite a few make the point that in nominal terms public spending will still go up while others say that Osborne is gambling that the net drain on disposable incomes in Great Britain (with the onslaught on welfare bills) will be offset by new private sector jobs. <br /><br />His figures do not really add up. I doubt if the government will cut welfare fraud by<br />£5bn and I doubt that a new aircraft carrier will actually cost £7bn. I suppose there will be more spending cuts and tax increases down the line.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-22854447288883477182010-10-20T07:45:00.000-07:002010-10-29T04:03:26.705-07:00Will UK spending cuts work??I wonder if the UK public sector spending cuts will actually work? Chancellor George Osborne highlighted the various elements of the £83bn package yet at the same time the Bank of England is considering printing more money (quantitative easing) to get the economy moving. I suppose it makes some kind of sense to build an aircraft carrier with no planes and launch a money saving assault against the disabled classes. But I was more impressed with the Irish government, which pushed through pay cuts for the country's public sector. <br /><br />If the massive public sector pension liabilities are true, then the imperative is to cut more than the possible 500,000 jobs, which won't be fun. The jobs are to go over four years and Mr Osborne hopes most of the strain will be taken by natural wastage.<br />A hope in vain I am afraid.<br /><br />In the early 1990s the Tory administration got rid of a major budget deficit without scaring everybody to death. It took a few years but it allowed my old friend <a href="http://en.wikipedia.org/wiki/Gordon_Brown">Gordon Brown</a> to go on the splurge later, since he inherited such a good fiscal situation. Any improvement in the public finances will take time. I don't think private job creation will be enough to offset the public sector job losses. Together with quite<br />a few of the disability living allowance and incapacity claimants moving to other benefits, then you could increase the British unemployment total by a cool one million without breaking sweat.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0tag:blogger.com,1999:blog-1030628570661615689.post-4194006043182668842010-10-20T07:24:00.000-07:002010-10-29T03:54:50.695-07:00The end of the Wayne Rooney dream at Man Utd!!After turning <a href="http://www.goal.com">Wayne Rooney </a>into a global superstar, <a href="http://www.manutd.com">Manchester United </a>have decided not to stump up an increase in wages. Apparently, Rooney wanted something in the range of Cristiano Ronaldo's £11m plus a year compared with his current £5.3m.<br />(I have not got the details of the contracts!!). Man Utd are a selling club and there was the background fear that the American owners would want to cash in on their main asset. However, it looks like Rooney wanted to leave the club anyway, which is a shame since the fans always roared when he started to run against defences.<br /><br />Real Madrid tried to win things with a bunch of global superstars but these players need others in the team to win the ball and pass to them. Even without Rooney, Man Utd can score enough goals but need a stronger midfield to give the defence a bit more protection. Giggs and Scholes can't go forever and the Euro loss against Bayern Munich showed that major investment/surgery was needed.<br /><br />PS. As we now know our Wayne is staying at Man Utd on a major increase in pay. He is not as quick as he used to be.Accountants Forever!!http://www.blogger.com/profile/05203206691233221579noreply@blogger.com0