Monday, 04/10/10
Front Page
In his speech to the Conservative party conference in Birmingham, the Chancellor George Osborne has declared that in order to avoid a decade of dept, he plans to cut Britain’s £109bn structural deficit in one parliament. The controversial plan will see swift and deep cuts made to public spending, saying the alternative of delayed deficit reduction will mean extra interest payment to foreign governments. Political News
A senior journalist who had worked alongside Andy Coulsen has claimed Coulsen personally listened to intercepted voicemail messages of public figures when he was editing the News of the World. The prime minister’s media advisor has always denied having any knowledge of the illegal activities carried out by the paper’s journalists Business News
The New Economic Foundation warns Britain’s bank may soon need more government aid despite a bailout of £1.2tn. The funding from the Bank of England which the Bank’s currently rely upon to prop up the system after the collapse of Lehman Brothers is set to run out by the end of 2012, which means that banks will need to raise £25bn a month to plug the funding gap. Tuesday, 05/10/10
Front Page
George Osborne’s plans to withdraw child benefit from parents earning enough to pay the higher-rate-tax have prompted warnings that he was punishing the party’s middle class base. Osborne also announced a benefits cap of £26,000 per year for workless households to counteract the accusations, though many senior backbenchers feared the attack on child benefit was badly misdirected. Political News
Tom Watson, a former Labour minister has called upon David Cameron to make a statement in parliament about the allegations made against his media advisor Andy Coulsen following new revelations surrounding the case, which was aired in an edition of Channel 4’s Dispatches last night.Business News
Sir Phillip Hampton, the RBS chairmen calls for regulation rather than self-imposed restraint in order to reduce City bonuses, amid forecasts of financial firms preparing to pay out £7bn in bonuses this year. Wednesday, 06/10/10
Front Page
David Cameron was forced to apologise to voters for breaking election promises, after the Chancellor George Osborne announced to withdraw child benefit from the higher rate taxpayers. The controversial plans contradict the party’s commitment to family values and undermined the universalist base of the welfare state, which the Prime Minister had promised to preserve in the election. Political News
David Cameron defends his media advisor Andy Coulsen after Channel 4’s dispatches programme on phone hacking claims. The Prime Minister said nobody in his team is unsackable, but there has been no complaint made about Coulsen’s competency in his current job in contrast to the years of Alastair Campbell. Business News
Tesco’s chief executive Sir Terry Leahy has declared that the UK is not heading for a double dip recession, and will neither be derailed by the government’s spending cuts. He claimed UK economy will be pulled through into a stable recovery by Asia’s stronger rebound. Thursday, 07/10/10
Front Page
Amidst criticisms for being evasive about the scale of the spending cuts, David Cameron called for a united nation to pull together to survive the hard times ahead. In his speech to the Conservative conference, the Prime minister said, the coalition was not only about cuts but “an attempt to create a country based not on Labour’s selfish individualism but one based on mutual responsibility”.
Political News
The US and Afghan Government recently made contact with the most feared insurgent group in Afghanistan, the Haqqani network who have the closest ties with al-Qaida. Direct talks were held between Hamid Karzi’s government and senior members of the Haqqani Network, though US contacts have been indirect through a western intermediary. Business News
Many of Britain’s biggest retailers are in talks with ministers regarding selling home energy improvements such as insulation under the governments “green deal” programme. Tesco, B&Q and Marks & Spencer are among the companies lined up to market the coalitions programme in encouraging home-energy measures.
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