THE GUARDIAN: Total includes 120,000 children, according to thinktank that is calling for anti-poverty strategy
Almost 700,000 people in the UK, including 120,000 children, have been plunged into poverty as a result of the Covid economic crisis, according to a thinktank analysis.
The Legatum Institute also said an additional 700,000 people had been prevented from falling below the breadline by the chancellor’s temporary £20-a-week boost to universal credit, introduced in April to help claimants cope with the extra costs of the pandemic.
Overall, the pandemic has pushed the total number of people in the UK living in poverty to more than 15 million – 23% of the population – according to the institute, which uses poverty measures developed by the independent Social Metrics Commission. » | Patrick Butler, Social policy editor | Monday, November 30, 2020
Monday, 30 November 2020
Saturday, 28 November 2020
Smerconish: Amazon Was Primed for a Pandemic
10 Key Beliefs from the Brain of Jeff Bezos
Jeff Bezos’ aspirations are not even bound by gravity, as building “a road to space” is among his current preoccupations. How has Bezos positioned Amazon so successfully? Here are 10 credos that sum up the success of Jeff Bezos. » | November 24, 2020
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Thursday, 26 November 2020
Britain Is Facing Ruin, But Deluded Tories Are Still Refusing to Accept It
THE TELEGRAPH: Rishi Sunak knows the dangers, but his party has embraced a destructive economic illiteracy
Britain is permanently poorer, and the British state weaker, as a result of Covid, the collapse in GDP and the gargantuan debt binge that has kept us going. Our economy is the most socialised it has ever been outside of war, and we have resorted to the printing presses to finance spending in a shockingly unprecedented way, pushing the great fiat money experiment close to breaking point. We will spend a lot more every year even after the virus is gone, which will necessitate tens of billions worth of tax hikes or spending cuts merely to stabilise the debt.
That, in summary, is the economic devastation described or implied by the Office for Budget Responsibility (OBR) in what is easily the most terrifying official economic assessment from a developed nation I have ever read. The fact that much of the spending was necessary, that we can “afford” it (in the sense of being able to borrow more), that interest rates are dementedly low and that growth will bounce back with the vaccine, is no consolation. » | Allister Heath | Wednesday, November 25, 2020
That the UK is going ahead with Brexit at this time of national emergency and a once in a century pandemic is both stupid and irresponsible. Brexit was always a ridiculous idea. At this time, when the UK economy is on its beam ends, it is criminal. Also, keeping interest rates as low as they have been for about eleven years is the height of irresponsible management of the economy. BoJo should resign. – © Mark
Britain is permanently poorer, and the British state weaker, as a result of Covid, the collapse in GDP and the gargantuan debt binge that has kept us going. Our economy is the most socialised it has ever been outside of war, and we have resorted to the printing presses to finance spending in a shockingly unprecedented way, pushing the great fiat money experiment close to breaking point. We will spend a lot more every year even after the virus is gone, which will necessitate tens of billions worth of tax hikes or spending cuts merely to stabilise the debt.
That, in summary, is the economic devastation described or implied by the Office for Budget Responsibility (OBR) in what is easily the most terrifying official economic assessment from a developed nation I have ever read. The fact that much of the spending was necessary, that we can “afford” it (in the sense of being able to borrow more), that interest rates are dementedly low and that growth will bounce back with the vaccine, is no consolation. » | Allister Heath | Wednesday, November 25, 2020
That the UK is going ahead with Brexit at this time of national emergency and a once in a century pandemic is both stupid and irresponsible. Brexit was always a ridiculous idea. At this time, when the UK economy is on its beam ends, it is criminal. Also, keeping interest rates as low as they have been for about eleven years is the height of irresponsible management of the economy. BoJo should resign. – © Mark
Tuesday, 24 November 2020
'This Long Overdue Transition Is Now Fully, Finally, Completely Under Way' | Andrea Mitchell | MSNBC
Stocks Head for Records as the Transition to a Biden Administration Begins
THE NEW YORK TIMES: Stocks on Wall Street climbed for a second day on Tuesday, buoyed by news that President-elect Joseph R. Biden Jr. had chosen a former Federal Reserve chair, Janet L. Yellen, to be the next Treasury secretary, and as the Trump administration’s efforts to contest the election were further diminished as several key states certified Mr. Biden’s victory.
The S&P 500 rose about 1.5 percent, and by late morning was trading above its most recent closing record of 3,626.91, reached on Nov. 16. The Dow Jones industrial average rose to a new high, crossing above the 30,000 mark for the first time.
The gains on Tuesday seemed to reflect optimism about the economy, with shares of economically sensitive companies among the best performers. Oil prices also jumped to levels not seen since early March. » | Eshe Nelson | Tuesday, November 24, 2020
The S&P 500 rose about 1.5 percent, and by late morning was trading above its most recent closing record of 3,626.91, reached on Nov. 16. The Dow Jones industrial average rose to a new high, crossing above the 30,000 mark for the first time.
The gains on Tuesday seemed to reflect optimism about the economy, with shares of economically sensitive companies among the best performers. Oil prices also jumped to levels not seen since early March. » | Eshe Nelson | Tuesday, November 24, 2020
Sunday, 22 November 2020
Trump Slams Paris Climate Accord in His Last G20 Appearance | G20 Riyadh
British Ski Workers ‘Set to Lose Seasonal Jobs’ after Brexit
THE OBSERVER: Instructors, chalet cooks, drivers and nannies among 25,000 who may no longer be eligible to take up posts in EU countries
Adieu to the British seasonaire. Barring an 11th-hour reprieve, Europe’s ski resorts will soon be largely devoid of British seasonal workers.
From 1 January, post-Brexit, British employees seeking seasonal work as chalet hosts, instructors, drivers and nannies in European ski resorts will find it more difficult to obtain work.
“It’s game over unless the government makes an agreement with the EU that will mean there is a way for British staff to work across Europe in the tourism industry on seasonal jobs,” said Charles Owen, director of Seasonal Businesses in Travel (SBiT), which represents many holiday firms.
The trade body claims that up to 25,000 British seasonal worker jobs in the travel industry will be lost, many contracted by UK-based companies. » | Jamie Doward | Sunday, November 22, 2020
Adieu to the British seasonaire. Barring an 11th-hour reprieve, Europe’s ski resorts will soon be largely devoid of British seasonal workers.
From 1 January, post-Brexit, British employees seeking seasonal work as chalet hosts, instructors, drivers and nannies in European ski resorts will find it more difficult to obtain work.
“It’s game over unless the government makes an agreement with the EU that will mean there is a way for British staff to work across Europe in the tourism industry on seasonal jobs,” said Charles Owen, director of Seasonal Businesses in Travel (SBiT), which represents many holiday firms.
The trade body claims that up to 25,000 British seasonal worker jobs in the travel industry will be lost, many contracted by UK-based companies. » | Jamie Doward | Sunday, November 22, 2020
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