From the TUC

US banks are no better

Nigel Stanley

06 Nov 2008, by in Economics

Now we have had such a bold interest rate cut, the pressure on banks to pass it on to business and mortgage paying customers will be immense. And they will need not just to cut the cost of existing loans, but also start lending again. Tax payers will want to know why the big bail…




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Interest rate cut: We was right!

Adam Lent
Guest

06 Nov 2008, by in Economics

This is a shamelessly self-satisfied post but check out this article from yesterday.  Only one organisation called for an interest rate cut of 1.5%. This has now turned out to be the Bank’s actual decision.  Modesty prevents me from naming that organisation.




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Equality of opportunity is not enough

Nigel Stanley

05 Nov 2008, by in Equality, Society & Welfare

It is of course compulsory today for all blog posts to reference the US election. I was struck by Obama’s claim that only in America could someone like him have become President. And of course it is an extraordinary achievement in a country where blacks were being deprived of the vote and segregation was legal not much…




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How unions have helped Obama

Nigel Stanley

04 Nov 2008, by in Equality, Politics

The US elections are somewhat off-topic for this blog. But it’s what everybody is talking about today in the TUC. Here is an interesting story about how unions have helped Obama overcome possible racist attitudes and disappointment at Hillary Clinton’s non-selection. And this is the extraordinarily effective speech on YouTube by US union leader Richard Trumka…




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48 hour week key vote soon

Paul Sellers

04 Nov 2008, by in Working Life

I was saddened to read the FT story that shows that the Government still does not quite “get” the case for the Working Time Directive. The Employment Committee of the European Parliament is meeting today to discuss a report that includes the end of the so-called individual opt-outs from the 48 hour limit on average weekly…




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No chance of fair pay in the Premier League

Nicola Smith

03 Nov 2008, by in Society & Welfare

A spokesman for the Premier League has rejected the proposition – supported by the unlikely partnership of trade unions, civil society organisations and Boris Johnson – that cleaning and catering staff employed by London’s football clubs should be paid £7.75 an hour. The League stated that clubs make a “substantial contribution” to the economy, that…




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Even more on the banks

Nigel Stanley

01 Nov 2008, by in Economics

Today’s newspapers confirm my unease about the Barclays deal. It is now abundantly clear that the senior Barclays management have favoured their bonuses over the interests of their shareholders. The costs of capitalisation from the Gulf will be greater than the costs of accepting the deal on offer from the British government. The greater costs…




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