Thursday, May 21, 2009

+++ S&P Downgrades UK Government Debt +++

Gilts have tumbled on the news that the debt rating agency Standard & Poor’s has just lowered its credit outlook on the U.K. to negative, from stable, in view of the government debt crisis.

S&P has so far kept the Triple “A” rating intact, but the outlook change signals that the the UK’s credit rating could be lowered:

“We have revised the outlook on the U.K. to negative due to our view that, even assuming additional fiscal tightening, the net general government debt burden could approach 100% of GDP and remain near that level in the medium term…”

Note the use of the term “general government debt”. That is because government uses discredited debt definitions to make out that Britain has lower government debt than it really does.  The markets simply don’t believe the government’s figures.

Last October Guido “Asked the PM” via video (creatively using Ms Fawkes’ crayons and sticky backed plastic) about how Gordon added up the national debt:

And he, errm, cheerily trotted out a very disingenuous line:



The markets didn’t believe him and now neither do the ratings agencies…

+++ Moran’s Andalucian Villa +++

Who Paid for This?

That makes how many properties?  Expat website the Olive Press reports Moran has made money renting her fourth home, a luxury property in the Alpujarras:

She has rented out the four-bedroom villa in Granada at various times since buying it in 1984… Holiday lettings agency Rustic Blue confirmed to the Olive Press that it had rented out the luxury property in Padre Eterno, near Orgiva on a number of occasions.

How much taxpayers money has she and her husband had to fund her lifestyle?

Financial Times Catches Margaret Moran Lying

If Margaret Moran was not toast already, she definitely is now.  The FT has caught her using her Commons office to promote her husband’s firm “EQN”.  Then they caught her lying about it.

"You just flip your designation and you are quids in."EQN’s accounts show its funding comes from public grants, business sponsorship and private events organised for paying clients, principally in the housing sector.

Hundreds of documents seen by the Financial Times dated from 2006 to 2008 show that Ms Moran used her parliamentary staff to write funding bids for EQN, telling one that the salary the individual received was tied to working for EQN. Her constituency office also helped organise “great networking opportunities” at EQN conferences with ministers personally invited by Ms Moran.

When EQN bids for funding were unsuccessful, Ms Moran repeatedly used Commons-headed paper to intervene with local authorities and Whitehall departments to express her “concern and amazement”.

EQN received grants in 2008 from public bodies including £10,000 from Luton Borough Council for local regeneration funding, and £20,000 from the East of England Development Agency’s Investing in Communities programme for a “feasibility study” into a local women’s business centre.

A statement authorised by Ms Moran in response to the FT stated that “Margaret has never written any letters for EQN on parliamentary headed notepaper”.

However, the FT has seen copies of letters written by Ms Moran in 2007 on Commons-headed paper supporting EQN funding bids and personal invitations to EQN events sent to businesses on Commons headed paper.

Cameron sacks MPs before dawn when the evidence shows them to be red handed.  Gordon just dithers.

Gordon is Afraid

Gordon said Blears’ house flipping and tax dodging was “totally unacceptable”, but apparently doing the unacceptable is acceptable if you are in cabinet.  Humiliatingly Brown’s spokesman was later sent out yesterday to express the Prime Minister’s “full confidence” in Hazel.

Blears is a fighter; a weak Prime Minister, unpopular and without authority, deprived of McBride* to put the frighteners on Cabinet ministers, is not going to scare the feisty redhead too much.  So she defys him and gets away with it.  As Brown looks round the cabinet table he can see known tax dodgers and profiteers from the public purse.  Hoon, Darling, Purnell, McNulty and Blears all sitting on their profits from playing the property market at our expense.

Brown is too afraid to reshuffle.  Disappoint Mandelson and the Prince of Darkness could easily lead a deputation for his removal.  Mandelson will surely be the undertaker for the Prime Ministerial coffin, probably with the other end of the coffin held by Jack Straw.  He can’t shift Miliband in case he swaps his banana for a backbone and challenges for the leadership.  He can’t fire Blears, because if Blears goes, Hoon must go too and so on…

At PMQs Cameron taunted him, that he was afraid of an election.  Afraid that he would lose in a landslide that would see Brown consigned to history as the worst PM in memory.  Poor Gordon, the “frightened faertie from Fife”…

*Believed to be in Nice, staying at a family owned apartment.  The booze is cheaper in Nice too.

Wednesday, May 20, 2009

Anthony Steen to Spend More Time With His Garden

Anthony Steen MP is to retire at the next election, he has just told ConservativeHome

steen“The real issue is who can fix the country, and I have become a distraction, so have decided that I won’t stand again. I don’t want to risk the party losing the seat, so it is in the best interests of the party that I go. There has been no pressure from my association; they have been marvellous: members have been very put out by the Daily Telegraph coverage.  I’ve had a very good innings, there’s no bitterness, no anger, but as the saying goes, all political careers end in tears.”

He will be able to spend more time gardening, saving the taxpayer a fortune.  Voting blue in Totnes was perhaps going a little too “green” with Steen claiming some £88,000 in expenses for the upkeep of his garden.  Guido will admit this, Steen goes with class, without desperately clinging onto the greasy pole.

UPDATE : The Tory press office says: “Sir Peter Viggers has confirmed that he will retire as MP for Gosport at the next election. He will do so at the direct request of David Cameron”.  Out for a duck.  Well fired for claiming £1,645 for a floating “duck island” in his garden pond. Quackers.

+++ Lord Rennard to Get the Crick Treatment on Newsnight +++

Won’t be about his personal mores, just his financial dishonesty.  That Cowley Street moral high ground looking increasingly shaky..

Hat-tip : Liberal Vision

9 / 10 Voters Want More Heads to Roll

According to PoliticsHome, who interviewed 1225 voters immediately after Michael Martin resigned, the public overwhelmingly wants more politician’s blood.  This is far from over with the dispatch of the Speaker.

PMQs : Gorbals Going, Not Gone

Has Nick Brown Just Twittered the Election Date?

Ooops

Good spot by Tory Bear, this is apparently his first Twitter and is supposedly a genuine reply to Austin Mitchell MP.  Get ready, Nick Brown is one of Gordon’s most trusted confidantes…

UPDATE 12.10 : Nick Brown’s Twitter account has been deleted.  Think that suggests it was genuine.

Jonah Brown Visits Sellafield, Nuclear Leak Discovered

Jonah Goes NuclearThe Prime Mentalist visited Sellafield earlier this year (January 23). A report recently released by a Board of Inquiry reveals that on the very same day of his visit a radioactive leak was discovered.  Jonah’s curse goes nuclear.

Jonah World CupThe leak was classed as at “level two” on the Nuclear International Event scale – the highest at Sellafield in many years.  Not a good precedent for another international event – the World Cup.  This week Gordon held a photo opportunity to support England’s bid to host the 2018 World Cup.  So that is that jinxed, football definitely “won’t be coming home”…


Tip off Guido
Web Guido's Archives

Subscribe me to:






RSS


AddThis Feed Button
Archive


Labels
Guido Reads
Follow

Get every new post delivered to your Inbox.

Join 1,646 other followers