News digest 22 November 2012

News digest 22 November 2012

22 November 2012

Today’s digest opens with two memorable anniversaries, it was 49 years ago that JFK was assassinated, and it is now also 22 years since Thatcher was toppled from power but today’s top story is tax receipts, or the lack of them as UK public sector borrowing was worse than expected in October reducing the chances the UK will hit its 2012-13 deficit reduction target. Borrowing hit £8.6 billion in October, in contrast to just £5.9 billion in October 2011. Unite general secretary Len McCluskey said: “The chancellor is driving the economy the wrong way and he is refusing to turn around. The Tories came to power claiming they would restore the country's public finances, but they have actually made things far worse. … Britain desperately needs bold policies to boost the economy and brave leaders who are prepared to rebuild the nation." Every day there’s more evidence Osborne does not fit the bill, perhaps its time to topple the toff…

Although Osborne seems to have fallen badly as the FT’s ratings of EU finance ministers places the UK chancellor in lowly fifteenth place based on his omnishambles budget and market credibility, as each day passes there is yet more evidence that his austerity plan is failing with even the Times summing it up today as ‘Chancellor told to forget A-game as revenues dry up’, it’s not looking good for Gideon.

But it is prime minister David Cameron that is upping the stakes regarding the budget threatening the use of a veto as the budget talks convene in Brussels today. There’s a lot of talk in the papers, but will it be followed up by action? What is more worrying is that other EU government’s are losing patience with the UK reducing the overall influence of what Cameron can achieve, and moreso in the horse trading that dominates summits.

Borrowing also remains high on the domestic agenda. Education secretary Michael Gove’s plans for academies has exceeded its planned budget to the tune of £1 billion and instead of arguing for more funds for his plans he will instead squeeze the budgets of struggling schools, typical Con-Dem in action.

And from schools to students and a few of the papers focus on the 3,000 students (according to the Guardian) 10,000 (according to the Indie) or 50,000 (according to the Morning Star) that marched through London yesterday. Sadly the march ended in eggs, fruit and anger as the leader of the NUS was pelted with eggs and fruit at the rally at Kennington Park. Always better to turn your anger at the enemy not your own side, but also a warning for those that cosy up too closely to those in power, the call for a general strike is growing…

 Morning Star

  • Students vow to sack fee traitors (p1)
  • Gaza protesters swoop on G4S (p2)
  • Inland revenue losing war on ‘tax dodging’ rich (p2)
  • Abbott tells ministers to get a grip (p3)
  • Union alliance to lobby [Newcastle] council as it slashes jobs (p4)
  • Osborne to unleash more economic woes (p5) – Len McCluskey quoted

 Daily Mirror




 Times (no links all stories behind paywall)

  • Battle lines drawn for EU budget showdown (p1)
  • Border Agency sinking under backlog (p3)
  • Improve schools or be stripped of powers, town hall chiefs told (p5)
  • Benefit axe puts young at risk (p20)
  • Taxman lets evaders carry on lying in anonymity (p23)
  • No blank cheque for Leveson (p27)
  • Chancellor told to forget A-game as revenues dry up (p45)
  • Toshiba takes robot wars into the eye of a nuclear storm (p53)




 FT (no links all stories behind paywall)

  • Autonomy founder hits back at HP (p1)
  • Chancellor says stick to Vickers proposals (p2)
  • Rise in public borrowing stirs tax row (p2)
  • McAlpine case acts as wake-up call for twitterati (p4)
  • Report warn of effects on poor of benefit changes (p4)
  • EU finance minister of the year (p11) [Germany’s Schäuble wins, Osborne comes 15th]
  • Global farm sector boosts Deere (p18)
  • Pirelli chair seeks to end ‘Chinese box’ structure (p22)
  • Defence cuts weigh on QinetiQ (p23)


Edited by Mik Sabiers

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