News digest 15 October 2012

News digest 15 October 2012

15 October 2012

Five days to march for a future that works – join us on #oct20

Welcome to today’s digest, the top story today is a warning to UK chancellor George Osborne to review its sole focus on austerity, what’s worse for Osborne is that its from the IMF which says there could be further damage to the UK economy unless the government eases up on the austerity programme. The government has acknowledged that the biggest challenge is how to balance growth while maintaining confidence in the government’s debt reduction programme, but in reality the siren call for Plan B is getting ever louder so join with us all this Saturday and march for a future that works.

That is all the more important as a few of the papers report on fears of a jobless generation. The Mirror has a feature – based on TUC research – which shows that long term jobless for young people has soared by 23 per cent in the past two years at the same time that the government will spend £98 million less in helping 16-24 year olds get into the workforce. So much for joined up government…

And from government to the EU and a few of the (right-wing) papers are still seething over the EU being awarded the Nobel peace prize – Boris Johnson in the Telegraph says it should go to Margaret Thatcher – but the real issue is uncertainty in the banking sector after the deal for Santander to buy 316 RBS branches fell through. The sale had been ordered by the European Commission in return for the UK government’s £45 billion rescue of the bank. Unite has called on the government to press the European Commission to lift its requirement for RBS to sell the 316 branches and other assets, Gail Cartmail: “This latest development is causing yet more uncertainty. We would urge the government to press the European Commission to drop its insistence that the branches should be sold ...  the real danger is that the Commission’s requirement to sell branches and assets by the end of 2013 will result in a fire sale and an attempt by any buyer to strip out costs and drive down terms and conditions.”.

Still in Scotland and many of the papers report on the agreement to hold a referendum on Scottish independence. The Guardian highlights what will be the ‘biggest vote in 300 years’ of Scottish history after what has been dubbed the Edinburgh agreement settled on the specifics of the referendum question which could see Scotland secede from the UK.

That could open up problems as it would probably have to apply to join the EU as a new state, and possibly adopt the euro as a new currency. However in London the cabinet is increasingly eurosceptic amid calls to exit the EU so it may well be in five years time Scotland is out of the UK, but in Europe and the UK is out of the EU and isolated, then again business secretary Vince Cable has warned over his fears of war in Europe if the euro collapses, many forget that the European project was designed to rescue Europe from extreme conflict, although maybe it is time some of Europe’s leaders remembered the actions of the founding fathers that worked together to end conflict and create something that benefits all the people of Europe…

Morning Star

 Daily Mirror






·         Defence secretary says Territorial Army should be renamed Army Reserve (p8)


 FT (no links all stories behind paywall)

  • Branson to battle with Flowers for RBS assets (p1)
  • Tories plot ‘cash-for-seats’ offer to Clegg (p1)
  • May to signal policing break with EU (p2)
  • Bombardier calls for lower corporation tax in N Ireland (p2)
  • Countdown to Scottish independence vote begins (p3)
  • Hold business rates. Says retailers (p4)
  • Former Rock chief to head Hastings (p16)
  • Siemens prepared to quit Italian deal (p18)
  • Setback for RBS on road to rehabilitation (p21)


Edited by Mik Sabiers

Comment on this story