Month: February 2018

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Sunday, May 18, 2014

The governor of the Bank of England, Mark Carney, has warned that the state of the housing market in the United Kingdom is the current biggest domestic threat to the country’s economy, due to lack of house building, and regulatory issues.

In an interview to be aired on Sky News today, he said the housing market is the “biggest risk” to the economy and has “deep, deep structural problems”. Of house building he said: “There are not sufficient houses built in the UK. To go back to Canada, there are half as many people in Canada as in the UK, twice as many houses are built every year in Canada as in the UK and we can’t influence that.”

“We’re not going to build a single house at the Bank of England. We can’t influence that. What we can influence […] is whether the banks are strong enough. Do they have enough capital against risk in the housing market?”

Carney also said the Bank of England would look into the procedures used to issue loans and mortgages to see if they were being granted appropriately: “We’d be concerned if there was a rapid increase in high loan-to-value mortgages across the banks. We’ve seen that creeping up and it’s something we’re watching closely.”

Kris Hopkins responded to Carney on behalf of the government, saying the government “inherited a broken housing market, but our efforts to fix it are working”. “We’ve scrapped the failed top-down planning system, built over 170,000 affordable homes and released more surplus brownfield sites for new housing. We’ve also helped homebuyers get on the housing ladder, because if people can buy homes builders will build them. Housebuilding is now at its highest level since 2007 and climbing. Last year councils gave permission for almost 200,000 new homes under the locally-led planning system and more than 1,000 communities have swiftly taken up neighbourhood planning. It’s clear evidence the government’s long-term economic plan is working.”

Earlier this month, the Organisation for Economic Co-operation and Development called on the UK government to “tighten” access to the ‘Help to Buy’ scheme introduced by George Osborne and the coalition government in 2013. ‘Help to Buy’ has also recently been criticised by three former Chancellors of the Exchequer — the Conservatives Norman Lamont and Nigel Lawson, and former Labour Chancellor Alistair Darling. Darling said: “Unless supply can be increased substantially, we will exacerbate that situation with schemes like Help to Buy.”

Friday, June 30, 2006

New South Wales Police, in connection with the NSW Roads and Traffic Authority, Tow Truck Authority and Centrelink (the agency responsible for providing income support) conducted random checks on tow trucks on Thursday. The checks were carried out in Bankstown, a suburb in Sydney’s South-West.

According to police, 50 tow trucks were pulled over during the operation, coined “Operation Hook” between 8:30 a.m. AEST and 4 p.m. Of those, 26 were directed to report to a vehicle inspection facility for further investigation.

Police issued 70 infringement notices (fines) during the operation. 11 were for being unlicensed to conduct business as a tow truck driver or business, and 13 for having incorrectly secured loads. 17 vehicles were issued defect notices as part of the operation.

Tow truck operators (business owners) are required to make a payment of AUD$770 per year to the NSW government, while drivers are charged $152 per year for their licence. An additional charge for tow truck number plates of $292 per year also applies.

The maximum penalty for operators not being licensed correctly is $11,000 or 12 months imprisonment, drivers without the correct licence can be fined $5,500 or sentenced to 6 months.

Sunday, February 8, 2009

The Japanese car making company Toyota has announced that their predicted profit loss for 2008 has tripled from their previous estimate. The company reports the loss after demand for its vehicles dropped. In December 2008, Toyota estimated its full year operating loss to be 150 billion yen (US$1.65 billion). Now the company has tripled that number, forecasting a 450 billion yen (US$4.95 billion) loss. This would be the first yearly loss at Toyota in 70 years.

The firm also said that it predicts its global sales to fall by 17.87% to 7.32 million vehicles sold, compared to last year’s 8.91 million vehicles sold. Overall for 2008, Toyota’s car sales in the United States were down 15.4%, but that number was down from 2007 in which sales dropped 18%. For the month of January alone, Toyota’s sales fell 31.7% compared to the overall U.S. sales loss of 37.1%.

As a result of the loss, 17 of the company’s 75 production lines worldwide, will be reduced to only a single shift of workers. The company also announced a full closure of all their Japanese plants for a total of 14 days between January and March 2009.

Toyota’s boss Katsuaki Watanabe described the loss as happening only “once in a hundred years”.

In January, the Japanese Nikkei newspaper said that Toyota was thinking of firing 1,000 Northern American and British workers, all of whom hold full-time positions in the company. The paper quoted Toyota’s Executive Vice President Mitsuo Kinoshita as saying that “outside of Japan, we intend to make every possible effort to protect the jobs of our employees.”

Monday, January 2, 2006

For several weeks, a group of local residents has kept Francesca’s Café on 34 Broadway Market, Hackney, East London occupied day and night to prevent its demolition and conversion into luxury flats by property developer Dr Roger Wratten.

The occupation was evicted on 21st December by police and bailiffs, and workmen began a partial demolition, but a new group of supporters re-occupied the building on 26th December and have begun rebuilding it including new walls and a replacement roof.

The café was bought by Dr. Wratten from Hackney Council as part of a number of sales in the street, now surrounded by controversy, and was run by Tony Platia who had worked there for over 30 years. Hundreds of people have attended the café in the past few weeks to show support.

Thursday, September 26, 2013

On Tuesday the World Bank released the 2012 World Development Report on Gender Equality and Development. For Jamaica the report highlights a number of negative gender issues for the nation’s men.

The report claims that getting an education in Jamaica is viewed as primarily a female activity. This cultural attitude encourages males to leave school early. In 2008, girls outnumbered boys in secondary school by a ratio of 1.04:1. At the same time, boys were more likely to have to repeat a year of school. Only 16% of boys passed five or more Caribbean Secondary Education Certificate exams compared to 30% of girls. Boys outperformed girls only in vocational subjects and physics. The report cites four key challenges in boys’ development identified by a national programme. They are low self-esteem, limited future employment opportunities, lack of discipline, and masculine identities that eschew education.

A program in Jamaica uses cash incentives to encourage at-risk boys to stay in school; other countries like Pakistan use cash incentives to encourage girls to stay in school. Jamaica’s program has resulted an average increase in boys attending school by 0.5 days a month. At the same time, fathers are urged to become more involved with their childrens’ schooling and changes are being made to the curriculum to make it “more boy-friendly”.

Definitions of masculinity result in less employment opportunities and smaller earnings potential. The report claims Jamaican definitions of masculinity also encourage more risky behavior, and sexual behaviors valuing achievement and competence above intimacy. The report says these factors increase physical and sexual violence towards women.

Male mortality is increasing in Jamaica. The report cites crime and violence as causes.

Friday, June 13, 2008

British drivers have been urged not to panic buy fuel because of the 4-day walkout by delivery drivers working for companies delivering to Shell petrol stations. The 600 workers have walked out over pay disagreements, wanting an increase to their current pay of £36,500, however their union Unite turned down a last-minute offer of £41,500.

Hoyer UK, which employs tanker drivers for Shell, said, “We extended our offer to the very limits that our business could sustain.” However Unite said in a press release that, “this dispute could have been resolved if Shell had advanced a fraction of the billions of pounds in profit they make every month”, continuing to say, “one of the world’s richest companies is prepared to play Pontius Pilate and see the British public inconvenienced rather than settle this dispute for a sum smaller than the chairman’s pay increase last year”

Shell admitted that the walkout could leave some of its 1,000 forecourts without fuel, but the UK Petrol Industry Association, which represent oil refiners, said that forecourts would have around 4 days of supply, maintaining usual stocking levels. Shell also commented that the strike impact would be “significant”, as the company runs around 1 in 10 of all petrol stations in the UK.

British Business Secretary, John Hutton, said that “the strike, which will have a disproportionate effect on people in Britain, cannot be justified,” and urged both sides to resume negotiations in order to settle the dispute. “We have been working closely with industry to put in place detailed contingency plans to reduce as far as possible the disruption for the driving public,” he added. Unite’s press release also confirms that “provision has been made for fire, police and the emergency services.”

Tanker drivers on strike have set up picket lines at many of Shell’s UK refineries, including those in Stanlow, Avonmouth, Plymouth, Pembroke, Cardiff, Kingsbury, Basildon, Grangemouth, Aberdeen, Inverness, Jarrow and Luton Airport.

Thursday, July 1, 2010

A court in England, UK has jailed a policeman for ten months after he was convicted of defrauding his car insurance company.

Police Constable Simon Hood, 43, arranged for a friend who dealt in scrap metal to dispose of his Audi TT, then claimed it had been stolen.

Hood had been disappointed with the car’s value when he tried to sell it two years after its purchase in 2008. He arranged for friend Peter Marsh, 41, to drive the vehicle to his scrapyard in Great Yarmouth, Norfolk. Marsh then dismantled the vehicle with the intent of disposing of it, but parts were later found wrapped in bubblewrap at Ace Tyre and Exhaust Centre.

Marsh picked up the TT from outside nearby Gorleston police station. Records show mobile phone conversations between the conspirators that day in March, both before and after the vehicle was reported stolen. The pair denied wrongdoing but were convicted of conspiring to commit insurance fraud after trial.

The fraud was uncovered after Hood told former girlfriend Suzanne Coates of the scheme. It was alleged before Norwich Crown Court that he had confessed to her in an effort to resume their relationship. Coates said that after the pseudotheft, Hood told her “he didn’t want to look for it. He said it would be like looking for a needle in a haystack, which I thought was a bit strange.”

Shortly afterwards Hood suggested they should become a couple once more, she said; she challenged his version of events regarding the car: “He said he did it but I couldn’t tell anyone. He said he did it with Peter. Peter had a key and took the car away and it was going to be taken to bits and got rid of so it was never found.”

Hood was defended by Michael Clare and Marsh by Richard Potts. Both lawyers told the court that their clients had already suffered as a result of the action in mitigation before sentencing. Clare said Hood had resigned from the police after fifteen years of otherwise good service and risked losing his pension. “It is not a case where his position as a police officer was used in order to facilitate the fraud,” he pointed out. “His career is in ruins.” Hood is now pursuing a career in plumbing.

Potts defended Marsh by saying that he, too, had already suffered from his actions. His own insurers are refusing to renew their contract with him when it expires and his bank withdrew its overdraft facility. His business employs 21 people and Potts cited Marsh’s sponsorship of Great Yarmouth In Bloom as amongst evidence he supported his local community.

Judge Alasdair Darroch told Marsh that he did accept the man was attempting to help his friend. He sentenced Marsh to six months imprisonment, suspended for two years and ordered to carry out 250 hours of community service. He was more critical of Hood:

“As a police officer you know the highest possible standards are demanded by the public. You have let down the force. You knew throughout your career that policemen that get involved in serious dishonesty get sent to prison.”