Heron's Eye 30/10/08

Throwing out the rulebook 30/10/08
“Alistair Darling and George Osborne gave opposing explanations yesterday for why government borrowing is on the rise. In last night's Mais lecture, the chancellor told a simple story: extraordinary times require extraordinary measures - and what could be more extraordinary than a historic banking crisis? By breaking targets on public debt, the government was being not profligate, but pragmatic. Labour was "spinning a virtuous strategy out of extra borrowing", retorted his Conservative shadow, when really the public finances had been in a mess for years.” [Guardian]

Labour launches attack on George Osborne's economic competence 30/10/08
“Labour today launched an all-out assault on George Osborne, the shadow chancellor, by releasing a dossier that accused him of a lack of judgment (pdf) on the global financial crisis and "schoolboy errors" in his spending plans.

The document highlighted Osborne's early opposition to the nationalisation of Northern Rock and Bradford & Bingley, his support for a Tory report advocating the deregulation of the mortgage market, and his pledges on fuel duty and hospital beds.” [Guardian]

Swinney's still got a real fight on his hands 30/10/08
Ian Swanson assesses the difficulties that the SNP are facing in attempting to introduce the local income tax in Scotland. [Scotsman]

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Heron's Eye: 29/10/08

Osborne escapes investigation into donation discussions 29/10/08
“George Osborne will escape a parliamentary investigation into his decision to discuss a possible donation from the Russian billionaire, Oleg Deripaska, the parliamentary standards watchdog said yesterday.

Extinguishing the hopes of Gordon Brown and Labour backbenchers for an investigation into the shadow chancellor's holiday activities, the parliamentary standards commissioner dismissed a complaint that was lodged anonymously. The other body that could conduct such an inquiry - the Electoral Commission - has already said that it will not be investigating the meetings in Corfu.” [Guardian]

Jonathan Ross and Russell Brand suspended by BBC 29/10/08
“The BBC today suspended Jonathan Ross and Russell Brand until an investigation into their prank calls to actor Andrew Sachs has been completed, in an attempt to quell the mounting furore over the "Sachsgate" affair.” [Guardian]

The BBC should admit its mistakes more quickly 29/10/08
Michael White analyses the BBC’s public relations strategies and tactics. [Guardian]

Banking crisis: What questions should the authorities be made to answer? 29/10/08
Jill Treanor on Alistair Darling, Mervyn King and Lord Turner before the Treasury select committee of MPs he chairs on Monday to seek a public explanation to how the taxpayer has ended up needing to pump £37bn into the high street banks. [Guardian]

The markets are clear: Britain is mutton dressed up as lamb
Larry Elliott paints an informative and depressing picture of the British economy. [Guardian]

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Heron's Eye: 28/10/08

The toilet roll of reason and the burger box of justice 28/10/08
Through examining the day’s Parliamentary debates, Simon Hoggart humorously highlights some of the hyperbole connected with crime and punishment. [Guardian]

Alex Salmond hints at concessions on local income tax plan 28/10/08
“Alex Salmond has signalled a significant switch in economic policy as his plans for a new local income tax for all wage earners came under sustained attack from Alistair Darling.

The first minister said during campaigning in the Glenrothes byelection yesterday that his government was considering major concessions to win over critics of proposals to replace the council tax with a new 3p in the pound income tax for local services.” [Guardian]

I think I made a mistake, admits Osborne 28/10/08
“George Osborne attempted yesterday to draw a line under the row over his contacts with a Russian billionaire when he admitted he had made a mistake in discussing a donation from Oleg Deripaska during his summer holiday in Corfu.” [Guardian]

Brown and Sarkozy unite in call for increased IMF funds 28/10/08
“Gordon Brown tonight received the backing of French president Nicolas Sarkozy for a substantial increase in the resources available to the International Monetary Fund to stop the "financial contagion" from spreading around the world.” [Guardian]

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Heron's Eye 27/10/08

Political hypocrisy - don't you hate it? 27/10/08
Michael White analyses the Machiavellian positions that politicians take to appear honest and compares it with historical politicians from the past. [Guardian]

Tories face call to repay Rothschild £1m loan
“The Conservative party faced demands last night to repay a huge loan from a member of the Rothschild banking family made through a company set up with the sole purpose of protecting her anonymity.” [Guardian]

Survey shows George Osborne affair has tarnished Tories 27/10/08
Deborah Summers on how the Oleg Deripaska affair appears to have impacted on the Conservative part’s image. [Guardian]

Darling 'misguided' on recession strategy 27/10/08
“A group of economists has attacked the government's Keynesian strategy to spend its way out of the recession as "misguided and discredited". Further big increases in public-sector spending would make the state's role so dominant it would stunt the private sector's recovery, they say in a letter in yesterday's Sunday Telegraph.”[Guardian]

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Heron's Eye: 21/10/08

Three men in a boat (to say nothing of the media mogul) 21/10/08
Michael White examines the rumours behind the allegations that Peter Mandelson and George Osbourne have been courting the Russian aluminium tycoon Oleg Deripaska, politely widening the net of intrigue in the world of schmoozing to discuss Rupert Murdoch. [Guardian]

Seven things you might not know about Gordon Brown's reshuffle 09/10/08
Andrew Sparrow provides interesting observations on Gordon Brown’s recent cabinet reshuffle. [Guardian]

Two key Blairites say government could have done more to avert financial crisis 21/10/08
Andrew Sparrow shines light on evaluations from key Blairites on how (and how well) the Government has effected the financial crisis. [Guardian]

Amid the rubble of global finance, a blueprint for Bretton Woods II 21/10/08
Jeffrey Sachs on the need for a Bretton Woods II and how it should look beyond financial regulation and address world development goals and environmental issues. [Guardian]

Wasteful job creation schemes 21/10/08
The Guardian letters page, providing differing interpretations on the benefits of full employment. [Guardian]

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