Darling announces UK budget for 2009

Thursday, April 23, 2009

The United Kingdom Chancellor of the Exchequer, Alistair Darling, yesterday announced the 2009 budget. The budget is an annual audit of the nation’s finances, and decides what should be done with taxpayers’ money.

The chancellor fell under scorn for his GDP growth forecasts, which are considered to be too optimistic in predicting that Britain will bounce back from its weakest economic performance since the end of the second world war. Darling forecast GDP growth of 3.5% in 2011, even after he was made to downgrade his predictions. He expects a record expansion of 1.25% next year, but chief UK economist Howard Archer disagrees, calling Darling’s predictions “mildly optimistic in the near term and much more optimistic in the long term.”

His plans for savers and pensioners, however, were commended by many, though was also criticised by a large portion of the populace. In the budget, Darling increased the amount that savers can put into an Individual Savings Account (ISA) from £7,200 to £10,200, of which £5,100 can be saved in cash. These increased limits will be available only to people aged over 50 from 6 October this year, and will not be available to everyone until 6 April next year. A number of financial experts described the move as being “too little, too late”, and Rumina Hassam, of price comparison website uSwitch.com, said: “The government’s decision to increase the cash ISA limit by £1,500 to £5,100 for the over 50’s is a just another kick in the teeth for the majority of savers as they will have to wait even longer to benefit. There is no doubt that savers have been sacrificed as a result of the plummeting base rate, bringing savings rates to an all time low.”

Sunday, June 11, 2017

While Theresa May remains Prime Minister of Britain, her party, the Conservative Party, won Thursday’s general election but lost its majority in Parliament.

The next scheduled general election was not until 2020. May requested this general election, called a snap election, in April, when polls indicated it would strengthen the then-slight majority the Conservatives held in Parliament. Talks to establish the specifics of Britain’s departure from the European Union are set to begin June 19. Last year, British voters decided to leave the EU, but many of the specifics of the United Kingdom’s new relationship with the rest of Europe have yet to be established. May and the other Conservatives favor a “hard Brexit”, in which Britain would lose its current level of access to Europe’s single market and have to deal with higher tariffs and more complicated customs processes but it would regain full control of its borders with respect to trade and immigration. An increase in the number of Conservative Parliamentary seats would have supported this plan.

“Officially Theresa May is still the partner in Brexit negotiations,” said senior German MP Stephan Meyer, “but the political reality is different after this disastrous defeat. I can’t imagine that May will be able to remain prime minister.”

Jean-Claude Juncker of the European Commission said, “As far as the Commission is concerned we can open negotiations tomorrow morning at half past nine […] First we have to agree on the divorce and exit modalities, and then we have to envisage the architecture of our future relations. I do hope that the result of the elections will have no major impact on the negotiations we are desperately waiting for.”

A Parliamentary majority requires 326 of the organisation’s 650 seats. The Conservative Party holds 318 outright, including May’s own seat in Maidenhead, and the Labour Party holds 262, having gained about 30 in this election. In Britain, the leader of whichever political party has the most seats becomes Prime Minister, though they are also formally appointed by the monarch. Theresa May became leader of the Conservative Party on July 11 of last year and was appointed by Queen Elizabeth II two days later. Cases in which no political party wins outright are called a hung Parliament, and then two or more parties rule together in coalition. Britain had a coalition government from 2010 to 2015. Northern Ireland’s Democratic Unionist Party has pledged an unofficial alliance with the Conservatives, which would bring them up to 328.

This would make May the second Prime Minister in a row to call an election with unexpected results. David Cameron called for a referendum on Britain’s EU membership, not expecting the voters would reject it.

May’s current ministry said most of her senior officials, including Treasurer Philip Hammond, Foreign Secretary Boris Johnson, and Home Secretary Amber Rudd, will remain in the Cabinet.

May met with Queen Elizabeth II yesterday to request her permission to form a government in her name, a traditional formality.

Friday, April 29, 2005

Swedish company Korsnas Packaging has extended its operations in Romania by transferring two production lines from Germany and the United Kingdom to its Romanian subsidiary in Ploie?ti, an industrial city close to Bucharest. The first production line will be designed for producing packing material for food and the building industry. This line will be transferred to Romania at the beginning of May, with the transaction being worth €1.5 million. The second production line will be transferred in 2006, depending on the 2005 financial results of Korsnas’ Romanian subsidiary.

In the past few years, and the past year especially, more European Union companies have relocated to Romania for to its lower labour cost and skilled workforce. Foreign investors have also been attracted by a new tax policy which started in January 2005, putting in place a flat 16% tax rate for personal income and corporate profit. Foreign investment is expected to increase in the future, as Romania signed in April 25 its Accession Treaty with the European Union and is set to become a member of this organisation on January 1, 2007.

Tuesday, June 6, 2006

Google has launched an online spreadsheet site, in a private beta.

The site will allow spreadsheets to be shared between up to 10 users, which is aimed to be useful to teams and small businesses. “Many people already organise information into spreadsheets. Where they are struggling is to share it” said the product manager, Jonathan Rochelle.

Google recently bought the online word-processor Writely, launched a calendar product, as well as a desktop search tool. Many see this as them straying into Microsoft‘s markets.

Google Spreadsheets uses very advanced AJAX (Asynchronous Javascript And Xml) and Client Side Scripting to mimic very effectively it’s desktop counterparts’ functions.

It is surprisingly fast, has very good formatting and advanced formula support, but best of all it has complete support for Microsoft Excel .xls files, and very good collaboration: just enter the e-mail address and you can share easily.

Friday, April 11, 2008

In the Opening Day of 2008 AutoTronics Taipei (April 9), the Industrial Technology Research Institute of Taiwan (ITRI) invited Jamie C. Hsu (Consultant of Ministry of Economic Affairs of the Republic of the China and Former Management Executive Director of General Motors Global Technology) for a speech in the “Pavilion of Taiwan Automotive Research Consortium (TARC)” to forecast the future of automobile industry in Taiwan, which echoed the “Taiwan Automotive International Forum & Exhibition”, held at TWTC Nangang in conjunction with 2008 Taipei AMPA.

Before the main show, Department of Industrial Technology of Ministry of Economic Affairs supervised the establishment of TARC by ITRI, Chung-Shan Institute of Science and Technology, Metal Industries Research & Development Center, and the other academical and industrial units to improve the level of research and development including applications on security, artificial intelligence, and energy-saving.

Wednesday, May 30, 2007

New Zealander Folole Muliaga died Tuesday morning after Mercury Energy cut off the power in her household due to $168.40 of unpaid bills. Mrs Folole Muliaga was seriously ill and dependent on an oxygen life support machine that required electricity to run.

The 44-year-old died two and a half hours after the power was cut by a contractor, working for State Owned Enterprise, Mercury Energy. A spokesperson for Mercury Energy has said that they are devastated and deeply sympathetic by the news, but state they did not know that the power was needed to run the oxygen machine. They have stated that discretion is exercised in cases of extreme hardship or when medical conditions make it appropriate and that the same contractor had done so the previous day. However, relatives claim that the contractor was told that the power was needed by family members present, was invited into the house and talked to Mrs Folole Muliaga, but showed no discretion or compassion under the circumstances.

The power was cut at about 11am. Brendan Sheehan, spokesperson for the family, said that after the power was cut, Mrs Muliaga suffered from breathing difficulties. During this time Mrs Mulianga declined an offer for an ambulance from family members. At about 1pm she informed her sons that she was feeling dizzy and asked for hymns to be sung. Her condition quickly deteriorated until she couldn’t speak. When she passed out at 1:32pm, an ambulance was called but Mrs Mulianga could not be revived when it arrived 12 minutes later.

That same evening remaining family members claim they had to grieve in the dark, power was only reconnected after the outstanding amount of $168.40 was paid to Mercury Energy. Mercury Energy claim that the were initially only made aware that a funeral was going to take place and attempted to reconnect the supply at midnight once the full circumstances were made clear but were unable to contact the family. They state the supply was eventually reconnected before 8am the next day. Evidence has been provided by family members to show that they had made two payments to Mercury Energy in the same month trying to clear their outstanding bill, $61.90 on 1 May 2007, and $45 on 17 May 2007.

Trevor Mallard, minister of State Owned Enterprises, said, “I do think it is important that the facts are established before people rush to judgement.”

Both the New Zealand Police and Mercury Energy, the retail operating division of Mighty River Power, are conducting investigations into the events.

The mother-of-four school teacher lived in Mangere, South Auckland and had been suffering from a heart and lung condition, according to relatives of Mrs Muliaga, since February.

Hospital doctors have expressed surprise at the short length of time between when the supply was cut and the death occurred. They have also explained that relatives are trained what to do if the supply is lost, including to call for an ambulance if severe symptoms develop.

Sunday, January 10, 2010

Two people in Kenya died earlier today after a five-storeyed building under construction in the town of Kiambu collapsed. Four others were said to have been injured.

The incident occurred in the middle of the night, at 02:30 local time (23:30 UTC), on Sunday morning. The building was only a few metres from another building that collapsed in October of last year, killing thirty people.

The building is reported to have been condemned last year, when the authorities deemed it substandard. Preparations to demolish the building started yesterday, in accordance with a court order that required the building to be destroyed within thirty days.

One of the casualties from the accident was Maina Irungu, aged seventeen; the other hasn’t been identified. People wounded by the collapse were taken to the Kiambu District Hospital. The victims were all people who lived in houses near the collapsed building. Rescue operations are still ongoing, being conducted by the Red Cross, police, and military. Officials also ordered evacuation of two buildings in the vicinity when cracks were spotted on them, according to Capital FM Kenya.

This story in itself is reflective of a major infrastructure problem in Kenya, according to the BBC, China says it will give a US$7 million (£4.4m, €4.9m) grant to help fund infrastructure development projects in Kenya.