Showing posts with label crackdown. Show all posts
Showing posts with label crackdown. Show all posts
May 15, 2013
May 27, 2010
MAIL ONLINE: Britain’s welfare system is ‘bust’ and faces its most radical overhaul for 60 years to undo Labour’s legacy of benefit dependency, Work and Pensions Secretary Iain Duncan Smith declared today.
The former Tory leader vowed to end the scandal that means welfare claimants are no better off – and sometimes poorer – if they come off the dole to take jobs paying up to £15,000 a year.
He also signalled that benefit payments to the middle classes were likely to be pared back in favour of income tax cuts – and the state pension age might have to rise more quickly than planned.
Giving his first newspaper interview since making an extraordinary return to the political frontline, Mr Duncan Smith told the Daily Mail the unemployed should do community work to keep benefits.
Those who refused to look for work, take jobs that were offered to them or do voluntary work would have their handouts stopped, he said.
Mr Duncan Smith said it was simply not ‘sustainable’ for Britain to carry on spending almost 14 per cent of its national income on welfare.
The bewilderingly complex benefits system should be radically simplified, and the perverse penalty against couples living together brought to an end, he added.
Mr Duncan Smith today published startling new evidence of the benefits culture and inequality that Labour has left behind after 13 years in power. Work or lose your benefits: Iain Duncan Smith heralds biggest shake-up of welfare state since the war >>> James Chapman | Thursday, May 27, 2010
May 16, 2010
THE TELEGRAPH: David Cameron has vowed to crack down on "crazy" bonuses paid to civil servants as the new Government seeks to reduce the costs of the bloated public sector.
Out of control hand-outs, which this year will be paid to three-quarters of senior civil servants, are to be restricted to high performers.
Under the terms of Whitehall contracts signed by Labour ministers at the height of the recession, bonus payments can not be cancelled by the incoming Government.
In future, however, windfalls across the public sector will be restricted to employees who have performed “exceptionally well,” with only the top 25 per cent eligible for the payments. >>> Rosa Prince, Political Correspondent | Sunday, May 16, 2010
January 22, 2010
TIMES ONLINE: Shares in Barclays and Royal Bank of Scotland (RBS) tumbled this morning after sharp falls on Asian markets in the wake of President Barack Obama’s pledge last night to wage war on American banks in the biggest regulatory crackdown on financial institutions since the 1930s.
Barclays’ shares fell a further 6 per cent to 266p this morning and are trading 14.4 per cent lower than at the start of the week. RBS, the state-owned lender, lost a further 4.45 per cent today to 33.75p.
London's FTSE 100 index of leading shares tumbled by 52.40 points to 5,282.81 in mid-afternoon trade, adding to yesterday's 85.70 point decline after the US President made his announcement.
There are fears that Mr Obama's proposals could force a radical restructure of American banks - a move welcomed by George Osborne, the Shadow Chancellor, who hailed Mr Obama’s intervention.
He said: “I have said consistently that we should look at separating retail banking from activities like large-scale proprietary trading — and that this was best done internationally. Coming on top of growing agreement on a bank levy, it shows that Conservatives are part of an emerging international consensus on these issues.”
The Treasury said that it would study Mr Obama's moves carefully.
The radical proposals would limit the size of institutions and bar them from the most cavalier trading practices. >>> Emily Ford | Friday, January 22, 2010
May 20, 2008
THE INDEPENDENT: The Dutch government has provoked uproar among the country's business leaders by proposing laws to curb large bonuses and golden handshakes for company bosses.
The Finance minister Wouter Bos launched the "fat cat" crackdown following a series of recent scandals involving "unjustifiable" payouts to prominent business figures. However despite government support, Mr Bos's proposals are under attack from Dutch blue-chips such as Philips, Shell and Unilever, whose chairmen argue they will damage Holland's international competitiveness and drive away corporate talent. "It's something everyone in Europe is concerned about, especially now the economic downturn is starting to bite," said Mr Bos. "You can't expect employees to tighten their belts while those at the top are being paid ever-bigger bonuses, which are often not even linked to their performance. Public support for entrepreneurs will plummet if this continues."
Mr Bos, who leads the Dutch Labour Party (PvdA), has put forward new laws that would slap taxes on companies for over-rewarding bosses. Under the proposed legislation, which is currently making its way through parliament, companies would have to pay a 30 percent tax on severance packages, or "golden parachutes", of more than €500,000 (£398,000), paid to executives when they leave a company. In addition, an extra tax would be levied in cases when company pensions are paid out to executives earning more than €500,000.
There is mounting speculation that Royal Dutch Shell may decide to move its headquarters out of The Hague. Shell's chief executive Jeroen van der Veer said in a newspaper interview: "Either you have a headquarters and accept as part of the bargain that large numbers of people earn high salaries, or you don't. I've noticed there is very little understanding for the needs of a large company. I find this disturbing." Bosses Threaten Dutch Plan to Cap 'Fat Cat' Pay >>> By Vanessa Mock in Brussels | May 19, 2008
The Dawning of a New Dark Age (Paperback - UK)
The Dawning of a New Dark Age (Hardback - UK)
May 15, 2008
SPIEGELONLINE INTERNATIONAL: The European Union bureaucracy is on a roll: After imposing restrictions on how tobacco, alcohol and food products can be advertised, it has set its sights on gas-guzzling cars. But German manufacturers and media conglomerates warn the financial impact could be devastating.
Only a select few VIPs are allowed to park on the paved lot directly next to the entrance to the enormous Berlaymont building in Brussels, the headquarters of the European Commission. The luxury sedans lined up in the parking lot include Audis, BMWs, Jaguars and Mercedes. The chauffeurs keep the engines running in the winter to stay warm, and in the summer to keep their energy-consuming air-conditioning systems going.
The contents of the Berlaymont's parking lot are especially impressive on Wednesdays, when European Commission President José Manuel Barroso and the 26 European Union commissioners gather around the conference table on the 14th floor. They often discuss climate protection, and what ought to be done to promote it.
To buck the trend, Commissioner for the Environment Stavros Dimas has chosen a Japanese hybrid (more...) known for its low emissions as his official vehicle. His position apparently makes this practically a requirement, but he's the exception rather than the rule. His fellow commissioners see no reason to revise their automotive preferences. "We commissioners travel a lot," says one of them, "and we need large, comfortable and fast cars."
Though clearly a topic that they have no serious interest in pursuing when it comes to their own luxury sedans, the commissioners are poised to tackle the issue in a way that will affect everyone else in Europe. Europe's lawmakers want to restrict and regulate automobile advertising. Their hope is that most drivers will lose interest in large cars and finally turn to more frugal models. Brussels Plans Crackdown on Car Advertising >>> By Hans-Jürgen Schlamp in Brussels | May 15, 2008
The Dawning of a New Dark Age (Paperback - UK)
The Dawning of a New Dark Age (Hardback - UK)
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