What do they know ?? I'm right !!

      PM attacked on economic forecast

Mr Brown said countries with large financial sectors would be hard hit

A prediction that the UK economy will suffer more than its rivals this year shows the "true cost of Gordon Brown's failures", the Conservatives have said.

The International Monetary Fund projects it will shrink by 2.8% next year, the worst among advanced nations.

The Tories said it was a "bad day" for the prime minister and an "even worse day for the country". The Lib Dems said it showed problems were "home-grown".

Number 10 said the PM was "confident" his economic package was correct. 

http://news.bbc.co.uk/1/hi/uk_politics/7856872.stm

Don't be pessimistic , I'm not !! Oh God ! 15% behind

      Brown warns against 'pessimism'

Gordon Brown has given a wide-ranging speech on the economy

The economic crisis should be treated as "the difficult birth-pangs of a new global order", with new rules introduced on trade, Gordon Brown says.

The prime minister set out a series of actions designed to "replace fear with confidence" and warned against just "muddling through as pessimists".

During a speech defending his handling of the crisis he also warned against the "deglobalisation threat".

His speech came as a poll suggested the Tory lead had grown to 15% over Labour.

The UK is now officially in recession for the first time since 1991, with many businesses blaming difficulties in obtaining loans for the crisis.

http://news.bbc.co.uk/1/hi/uk_politics/7850649.stm

 

Don't bring that up again !!

The would-be PM who cost us £100bn

By Liam Halligan, Economics Editor
Last Updated: 11:45pm BST 14/10/2006

The chances are that you have never heard of "advance corporation tax relief". And you probably didn't notice when Gordon Brown abolished it, without warning, in his first Budget back in July 1997.

You may, on the other hand, have heard of "Labour's £5bn pension stealth tax". That is because it has since become clear that the Chancellor's policy shift – removing tax relief on income from share dividends – was very harmful to British pension funds.

Gordon Brown and Tony Blair
Blair warned the Chancellor not to tax private pension funds so brutally, but Brown wanted to hit the ‘fat cats’

Announcing the move, Brown told the Commons that this was a "long-needed reform". But most actuaries now agree, if only sotto voce, that it has contributed mightily to the closure, since Labour took office, of thousands of final salary schemes.

The resulting loss of income and dignity – to say nothing of the stress – endured by members who have seen part or all of their "guaranteed" pensions disappear is among the biggest injustices of our time.

See This link

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/10/15/ccliam15.xml

Oh dear !! Final salary schemes 'face axe'

OK I know it's all my fault taking £4 billion a year out of the pensioners pensions and effectively the stock market all those years ago was in retrospect stupid , but it seemed like a good idea at the time , ( like selling the Gold ) and probably the£200 billion defecit is exactly the same amount given compound interest that is their shortfall , but Hey you win some and lose some , that's life , so take it like men , so I trashed the UK pension industry , OK it was the best in the world , it's not now TOUGH !!!!

      Final salary schemes 'face axe'

The past decade has seen a huge wave of pension closures

A quarter of major private sector firms expect to close their final salary pension schemes to existing members in the next few years, a survey suggests.

Many companies have already closed their schemes to new members, saying they are too expensive to finance.

But barring current contributors will become more common, says the National Association of Pension Funds, which is pressing for more government help.

It found 25 of the 100 firms which replied to its study expected to do so.

'Death knell'

Final salary schemes, which offer guaranteed benefits to members, are facing pressure from plunging stock markets, falling interest rates and growing life expectancy.

The latest estimate of total company pension deficits is nearly £200bn.      

http://news.bbc.co.uk/1/hi/business/7846122.stm   

OK we'llcontinue to consult on the matter

      Brown backs down in expenses row

Mr Brown said ministers would 'continue to consult on the matter'

Ministers have shelved plans to exempt MPs' expenses details from the Freedom of Information Act, after the Tories and Lib Dems said they would fight it.

Prime Minister Gordon Brown said the government had thought it had cross-party agreement but would now "continue to consult on the matter".

Campaigners said it was a victory for "people power" after a web protest. 

http://news.bbc.co.uk/1/hi/uk_politics/7842402.stm

Oh Jack not you as well !! A clear breach of rules

      Straw in 'clear breach' of rules

Jack Straw: Committee "surprised" that he "of all people" had broken the rules

Jack Straw was guilty of a "clear, albeit inadvertent, breach" of the rules in not registering a donation for a dinner to mark 25 years as an MP.

But the Committee on Standards and Privileges said that because Mr Straw had apologised and registered the money no further action was recommended.

They decided on a public rebuke because Mr Straw did not register the donation until 2008 despite reminders. 

http://news.bbc.co.uk/1/hi/uk_politics/7840709.stm

Oh Peter how could you serious and substantial failure !!!

      Hain guilty of 'serious' failures

Peter Hain was Welsh secretary and work and pensions secretary

Peter Hain was guilty of "serious and substantial" failures in not registering donations, the Commons standards watchdog has said.

The former cabinet minister was cleared last month by police over the late declaration of £103,000 of donations to his Labour deputy leadership bid.

But he has been rapped by the Commons Standards and Privileges Committee. 

http://news.bbc.co.uk/1/hi/uk_politics/7844553.stm