Posts Tagged ‘100 days’

Thursday News Review

19/08/2010, 07:34:56 AM

Level pegging after 100 days

At a time when it’s tough to get on the employment ladder, kicking away the first step up that was Labour’s future jobs fund at the same time as removing 10,000 university places is callous. It’s also economically illiterate, hiking welfare costs and reducing tax take. Scrapping the schools building programme, ending Labour’s planned expansion of free school meals and taking away free swimming and play areas place our youngest in the cuts front line. The reality that it is ideology driving this government is nowhere more evident than in the wasteful £3bn, top-down reorganisation of the NHS – the age of austerity suspended when there’s a free market to introduce to the NHS. – Peter Hain, The Guardian


'No thanks Nick'

Labour leadership contender Ed Miliband has said he would demand the resignation of Nick Clegg before forming a coalition with the Lib Dems. Mr Miliband told the New Statesman that the deputy prime minister’s support for the government’s spending cuts would make it “pretty hard” to work with him. The comments come after Lib Dem deputy leader Simon Hughes said a coalition with Labour was “still on the agenda”. – The BBC

Banks should pay their way

Miliband [David] proposes to double a 2 billion pound annual tax on banks introduced by the coalition — a move to make banks contribute to reducing the deficit after several of them had to be rescued during the financial crisis. He said this would enable the government to avoid cuts in tax breaks for business investment announced by finance minister George Osborne in an emergency budget in June. “He is imposing a bank levy of 0.07 percent of the (banks’) balance sheet. That is by no means a big hit on the banks,” Miliband said, adding however that Britain needed a strong financial services sector. “If you doubled the bank levy you wouldn’t have to abolish capital allowances for manufacturing,” he said. – Reuters


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