Hanbag Economics: The Ideology of Austerity
By Mary Mellor, Emeritus Professor, Northumbria University George Osborne’s Autumn Statement was a classic espousal of handbag economics, so named after the saint of the handbag, Mrs Thatcher. Handbag economics is the common sense of our age. Public sectors are like households, they must live within their means, balance their books, cut their coat according to their cloth. Britain is to face more years of austerity, not because it is in recession, but in pursuit of the handbag ideal. According to...
The positives of negative: An idea to change the world
By Malcolm Henry, Author of Views From The Boatshed There’s a debate going on in some nerdy corners of the internet about negative interest rates, which sounds like a desperately dull thing to be wasting time on, but it could be the spark that lights the lamp that leads us out of the economic gloom into a bright and prosperous future. A negative interest rate is being considered by some as the only plausible way to stir the economy out of the...
British schooling has left us speechless
By Drew Nicol Britain’s education system is failing thousands of young people every year by neglecting to emphasise the importance of learning a foreign language, according to the British Council. The British Council’s ‘Languages for the Future’ report conclusively states that “it is a widely held – if not undisputed – view that the UK is lacking in the necessary language skills for the future”. The report claims that the increasing numbers of British graduates will struggle to compete in...
Making an Autumn statement
By Adam Walker, Economics Correspondent Follow @adamwalker8715 Last Thursday’s 2013 Autumn Statement heralded a “responsible recovery”. With signs of a brighter economic future in 2013 the chancellor was quick to note that there are still difficult decisions to be made and the UK economy was by no means in the clear. The question left in the minds of the British public was: What can we expect in 2014 and beyond? Working Late Again One of the most controversial points from...
One man “terrorist” is the rest of the world’s freedom fighter
By Joe Mellor, In house Reporter Nelson Mandela on Trafalgar Square's Fourth Plinth By now everyone in the world should know Mandela died, except maybe Joey Essex regardless of whether he is in the jungle or not. My family were and still are avid political activists and I remember vividly not being allowed to buy South African “Outspan” oranges from the local supermarket. Even at a young age I knew we were trying to do something right. I still haven’t...
Carni-veil of prosperity making Brazil nuts
By Joe Mellor, In house Reporter Ol’ Blue eyes himself, Frank Sinatra sung the girl from Ipanema about the allure of the fifth-biggest country in the world and its ample assets. Let’s be honest, he was referring to a scantily clad women rather than its bumper soybean crop. Setting aside Frank’s ignorance of Brazil’s growing economy (which recently jumped above the UK to become the sixth-largest in the world) there are serious concerns of social unrest during next year’s World Cup. Politicians...
Brazil’s economic tumble
By Nathan Lee, Financial Analyst In 2007 Brazil was awarded the football World Cup with the backdrop of a strengthening economy and the prospect of social change. As it prepares to host the finals, the South American powerhouse lays dormant. There’s a subdued atmosphere surrounding Brazil in the run up to the football World Cup and 2016 Olympics. The cost of shining a spotlight on South America’s economic powerhouse has pushed the country to breaking point. Brazil’s economy contracted by...
Cameron and Johnson only see what they want to see
By Pieter Cranenbroek, International Politics Blogger Follow @Pinter_13 Living a sheltered life distorts your view of the world. This is not a scientific fact, just an educated guess based on recent comments by David Cameron and Boris Johnson who seem to be fond of creating their own facts. Despite an abundance of evidence pointing at the flaws of British educational policy, the prime minister and London mayor blame the absence of social mobility on poor people’s lack of ambition and intelligence....
Born unequal?
By Rachel Wilson, Political Reporter In a rich country such as the UK, there should be certain minimum standards below which no one should fall. In 2010, for the first time ever, the government set itself the target to end childhood poverty for good. Households Below Average Income (HBAI) is the definitive national measure of relative child poverty as set out in the Child Poverty Act 2010 and is based on an annual Family Resources Survey. According to the latest...