Wednesday, Feb 14, 2007
Brown critised again
Telegraph: OECD says Brown must avoid slump
Gordon Brown must do more to improve Britain's ailing transport infrastructure, improve poor standards of skills and get more people off incapacity benefits, or risk an economic slump, says the Organisation for Economic Co-operation and Development.
The assessment of the economic and social challenges and risks facing the Prime Minister-in-waiting is made in the British section of a review covering all member states of the rich nations club.
It argued Britain suffered a major productivity gap with other leading nations and prescribed a three-point course of action to bridge the gap and improve the economy's performance.
Posted by jason @ 06:52 AM (135 views) Add Comment
14 Comments
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1. tyrellcorporation said...
Unfortunate really then that those have been Gordon's main achievements over the last ten years!
2. waitingfor hpc said...
ha ha - did you say achievements & Gordon in the same sentance????? I will list them:
wasted billions of tax payers money - NHS , schools etc etc Dome...Olympics
taxed the UK to one of the highest from the lowest taxed countries for companies & population
removed incentives for UK companies set ups
sold 60% of our gold reserves cheap
fiddled the bank of england with urm... independance? and CPI erm accurate measure of inflation - NOT
uk taxpayer debt - not fiddled 84% GDP
uk public debt 165% GDP
HPI 100% in 4 years now 200K for average house
Super casinos opened so we can all be happy... in debt
wow what a record - have i missed anything?
3. Speculatorone said...
waitingfor hpc said...
You missed Grodon's personality, boring and smarmy; he has about as much chance of being a successful PM as I have....................
4. The Capitalist said...
Spot on W4hpc...GB has shafted GB. What is so very wicked is that it's our children that will have the burden of debt, and probably their children too.
5. cyril said...
you missed all the money 'invested' in PFI (off balance sheet) - which we will be paying for over the next 30 years or so
6. george monsoon said...
Random article posted on Bullbearings..
British Land warned today that the property boom could be over as it reported a rise in NAV for the first nine months of the year.
"2006 saw further property yield reductions, now twinned with a modest rise in bond yields to underline our own view that the property investment case can no longer rely on further positive yield shift," said chief executive Stephen Hester
7. sovietuk said...
Also the United Kingdom is now a dustbin for families- see http://news.bbc.co.uk/1/hi/uk/6359363.stm- Re UK accused of failing children. YES BOTTOM OF A TABLE OF 21 'DEVELOPED' COUNTRIES. Of course the abundance of high quality affordable housing in this country helps this which means parents don't have big mortgages to pay - NOT. Same old story - nothing is thought through properly.
8. talking rot said...
George
What do you mean by NAV please? ("British Land warned today that the property boom could be over as it reported a rise in NAV for the first nine months of the year.")
Also, what is a "positive yield shift"? Does Stephen Hester mean property investment can no longer rely on rising house prices?
9. george monsoon said...
HERE IS THE FULL ARTICLE.. I don't understand the terminology, I was relying on one of the capitalists on here to translate. I just saw the headline and though... hmm
Update: British Land warns property boom over
LONDON (ShareCast) - British Land warned today that the property boom could be over as it reported a rise in NAV for the first nine months of the year.
"2006 saw further property yield reductions, now twinned with a modest rise in bond yields to underline our own view that the property investment case can no longer rely on further positive yield shift," said chief executive Stephen Hester.
However the property developer said the fundamentals remain strong with a healthy economy, strong employment and a central bank determined to combat inflationary pressures.
Net Asset Value per share is 1610p after REIT charges. Before taking the charges into account NAV is 1685p, up 3.8% on the third quarter and 15.4% for the nine months.
Underlying pre-tax profit was £64m for the quarter, compared with £71m in the same period last year. But in the nine month period, it rose 12.1% to £194m. Actual pre-tax profits fell £381m for the three months to December from £617m a year earlier.
British Land converted to a Real Estate Investment Trust on 1 January 2007, booking charges to change to the tax-efficient status. Following the move it has been able to eliminate £1.6bn of deferred tax, boosting stated net assets.
10. tyrellcorporation said...
Waiting, I was being sarcastic...
11. bingo said...
Thing is SovietUK, the whole thing is a societal issue stemming from several governments all working the compound the problems we now face. I believe it started out with the whole right to buy scheme, where they changed the mindset of the entire population and told everyone that they could be independantly wealthy. Then it is the turn of New Labor to offer handouts to single parent families et al, and tell them it is ok to not be in a relationship. Single occupation households, single parent families, families where both parents have to work to pay the mortgage, latchkey kids, run down council estates, housing stock that built in the 30's-50's and not regenerated, etc etc etc etc etc.... I think possibly we have suffered at the hands of complete policy 'u' turns performed by consecutive gorvernments, there has been no consistency over the last 30 years and now it is in meltdown. I really don't think meltdown is too strong a term for what is going on in this country. So many people relying on governmant handouts, not just the unemployed any more, but my friends and neighbouors with nice cars and houses are all on income support of some sort. 40 odd percent of the workforce in Scotland works for the government in one way or another, is this sustainable? where does the money come from to pay for them? how long can that go on? sorry, started to turn into a rant... not the place...
12. sovietuk said...
bingo agreed it is the fault of consecutive governments going back a long time. Both of them have played their part in one way or another in the demise of 'society'.
13. dohousescrashinthewoods said...
NAV is "Net asset value" - in the case of a Real Estate Investment Trust (REIT), this is the value of the property they own.
Not sure about some of the rest.
Yield is to do with the amount you get paid for owning the share, relative to the share price. So, if property prices rise but rents stay static, you get less income from rent for a higher cost of buying the property.
Usually, a rising yield means the asset price is falling but the income from the asset is staying the same.
I would guess "positive yield shift" here is saying they can't push the rents any higher. If property prices continue to creep up but rent can't be increased, this squeezes the yield. Alternatively, if prices stay static, but rents fall, you get the same effect.
Hope this helps even if it doesn't bust the jargon (I think the jargon may be there to try and hide what is really happening)
14. george monsoon said...
dohousescrash..
Thanks, very clear.
I pulled the information from a site called bullbearings.co.uk they post news items relating to the market every few minutes. can be quite informative.