Showing posts with label Corruption. Show all posts
Showing posts with label Corruption. Show all posts

Tuesday, 19 April 2022

"Britain can only remember seven Tory scandals at any one time"

Go read at The Daily Mash.

The insane Rwanda plan is of course just a distraction from Partygate, which appears to have been affecting Tory polling ratings. The rightwingers are cheering to the rafters; the lefties are up in arms. It will never happen, neither will it be officially shelved, but 'something not happening' is hardly headline news.

This technique was exploited to the full by New Labour. Minister has affair? Driven from the front pages by a corruption scandal/colossal overspend; which was driven from the front pages by 'cash for peerages', which was driven from front pages by grants to Trade Unions that were matched by TU donations to the Labour Party; which driven from front pages by James Purnell photoshop episode (at least that one was funny); not forgetting the Individual Learning Account money that disappeared into the sand... the list is endless, and nobody (least of all me) can remember more than half a dozen of them or the order they happened, they came so thick and fast. New Labour made John Major's lot look like choirboys.

Monday, 10 January 2022

Daily Mail on the topic of "They own land, give them money!"

Janet Street-Porter in The Daily Mail, is on good form:

The largest landowner in Scotland is a Danish billionaire who is busy returning his holdings in the remote Highlands to wilderness areas where you can rent beautifully restored crofters cottages and lodges for luxury breaks.

Other huge rewilding fans are the Goldsmith millionaires, Ben and Zac, pals of Carrie Johnson, who is the PR for millionaire Damian Aspinall's Foundation in Kent.

Aspinall owns Howletts Zoo (he prefers the term 'nature park') where the public can pay £20 to gawp at gorillas and cheetahs who are being reared to eventually return to Africa. Ben Goldsmith is a rewilding-mad financier who owns 300 acres in the West Country, and wants to return his estate to a 'species-rich scrubby wood', planning to introduce polecats and glow worms...

Ben holds a non-executive role as an advisor at Defra, giving him a good chance to bend the ear of government with his rewilding crusade. To be fair he hasn't taken a salary – then again he doesn't need to. Older brother Zac, a charming man but a failed Tory MP, now sits in the House of Lords as Baron Goldsmith of Richmond Park, personally appointed by Boris, holding the environment brief.

Zac and Ben are old pals of the Prime Minister- they all attended Eton. Last autumn the Prime Minister borrowed the Goldsmith's family house in Spain for a short holiday.


But inevitably, she lapses into Home-Owner-Ism:

... shouldn't the government do more to protect farmland and forestry by refusing to allow unrestricted housing development on rural sites? Instead, every small town in England is becoming surrounded by building sites churning out identikit estates of noddyland housing on land which once produced food.

"Every small town"? "surrounded"? Really? As to "Noddlyland", most people live in fairly non-descript housing (my house is fugly, if truth be told), I don't see why that's a problem. And they get far more benefit from their home than they would have done growing a bit of fruit and veg on the plot. I'm still waiting for the first Nimby activist to buy and demolish housing and sell the land back to a farmer.

But hey, she's got the general idea.

Thursday, 15 July 2021

Throwing good taxpayers' money after bad

From Inside Housing:

The mayor’s ‘Right to Buy back’ initiative will provide money to enable local authorities and housing companies they own to acquire ex-council homes on the open market. Properties bought under the scheme, which must meet the Decent Homes Standard, would then be returned to social rent or used as temporary accommodation for homeless families...

The [Right to Buy] policy – which was reinvigorated in 2012 by David Cameron, with significant increases to the discounts offered to tenants – was intended to further homeownership. But research by Inside Housing has shown the extent to which that vision has been distorted, with as many as 40% of homes falling into the hands of private landlords
.

How stupid and corrupt are these people? Having committed the crime of selling it off at undervalue, they are now doubling up. Two wrongs don't make a right, they make it even wronger.

There is still plenty of publicly owned land in London on which they can build new council housing for a fraction of the cost of buying back ex-council housing. And who says it has to be in London? In the hey day of council house building, they used to build large estates aka 'new towns' a bit further out where the land is cheaper. Extend the rail network* to hook it up and Bob's your uncle.

Buying back ex-council housing doesn't even increase the amount of available housing, it just shuffles it between categories.

* Something they miserably failed to do for Thamesmead, that was an epic fail. The excuse is that it's difficult terrain. But they've built railways underneath the English Channel, above/along rivers and through mountains, for crying out loud, it can't be impossible.

Wednesday, 23 June 2021

They own land! Give them money!

Spotted by TBH in the Epoch Times:

California authorities announced Monday the state plans to pay off 100 percent of unpaid rent accumulated during the pandemic, with the money to come from some $5.2 billion in federal COVID-19 relief funds.

California Gov. Gavin Newsom wrote in a tweet Monday that, “California is planning rent forgiveness on a scale never seen before in the United States,” attributing the post to a report by the New York Times, which noted that state lawmakers were putting the final touches on the program.

While eligibility criteria for the newly proposed program are still unclear, reports indicate that the measure would both give renters in arrears a clean slate and make landlords whole.


Possibly one of the worst abuses of "COVID-19 relief funds" in recent history. Are they mental? Let's imagine that a developed country send a struggling country £1 billion in aid payments to help them get over Covid-19... and they just hand it all over to landowners.

Wednesday, 10 March 2021

"My kids' future is gone."

From The Daily Mail:

A property which was listed for $12million had its value drop to just one dollar due to proposed land zonings.

Theo Koutsomihalis' home's value plummeted after the NSW government rezoned land surrounding the airport at Badgerys Creek - which is due to open in 2026. Mr Koutsomihalis' four hectare Bringelly property went from rural land to 100 per cent environmental land designated as a green space...

He said planning firm Urbis, which had initially valued his then-enterprise land at $11million, informed him the property would now be 'unsellable'.

"I'm stuck now with a property worth $1 for the next 20 or 30 years, if it ever sells," Mr Koutsomihalis told The Daily Telegraph, "The other day I literally had to pull the car over and have a panic attack for 45 minutes. My kids' future is gone."


Think of those poor children who will have to struggle through life without a share of a $12 million inheritance! The fact he bought up four acres and wanted to market it as "enterprise land" suggest that it was a speculative purchase (the article doesn't mention what he originally paid for it). You win some, you lose some.
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Where this chapped lucked out, somebody else was cashing in. Right at the end of the article:

Meanwhile, taxpayers won't know any time soon what changes are needed in the wake of revelations the federal government spent 10 times the market value on a land deal for a new airport.

The government paid almost $30million for a 12-hectare plot for the Western Sydney Airport in 2018. The inflated figure came to light through a scathing auditor-general's report which found the land was worth only $3million and the federal infrastructure department fell short of ethical standards.

The land is not needed until 2050 when the airport's second runway is to be built. Australian Federal Police are investigating the deal over possible fraud.

Thursday, 11 June 2020

... the decision raised concerns about "cash for favours".

From the BBC:

Labour has urged the Conservative Party to repay a £12,000 donation it received from a developer 14 days after Housing Secretary Robert Jenrick approved a £1bn building project.

Shadow housing secretary Steve Reed said the decision raised concerns about "cash for favours". And the Lib Dems want an investigation into the minister's conduct. But the government said Mr Jenrick had acted with propriety and retained the PM's "full confidence".

On 14 January, the housing secretary granted permission for Richard Desmond's company Northern & Shell to build on the Westferry Printworks site on east London's Isle of Dogs. The businessman - a former owner of the Daily Express - made a personal donation to the Conservatives two weeks later, on 28 January.

Mr Jenrick's approval for the Westferry scheme came the day before the introduction of a new council community levy, which would have meant the company paying an additional £40m. It has also emerged that Mr Desmond and Mr Jenrick sat at the same table at a Conservative Party fundraising dinner last November.


All a series of complete coincidences and entirely innocent, I'm sure.

Which brings us back to BenJamin's idea, that all direct donations to political parties should be completely illegal. Instead, people have to pay the money to the Electoral Commission, who pool it and pay each party a single, anonymous total at the end of each calendar quarter. So no politician will ever be sure that somebody has paid the bribe donation they promised.

And lest ye think that I am bashing the Tories -  Labour and the Lib Dems have been involved in similar entirely innocent and above board series of coincidences as well.

Monday, 3 June 2019

Chris Grayling is very good at his job.

"Nonsense!" shouts the crowd, "He has the reverse Midas touch and turns everything to shit."

I used to think this, up to and including messing up the railway franchises and the ferry contract with the company that owned no ferries, but after reading about his latest debacle (the botched 'privatisation' of probation services), the penny has dropped.

He is clearly bad at privatising things - but his job description isn't 'privatise things well', it is 'privatise things badly', and he is very good at that, a 100% track record so far. And anybody with half a brain must know that you cannot 'privatise' core functions of the state, like probation services, or indeed HM Land Registry.

That is the only rational explanation, people wail about the shocking cost to the taxpayer, but from the point of view of the contractors, the lawyers, the consultants and other middlemen, those are corresponding huge gains.

I assume that with all these things, the recipients make large donations to the Conservative Party and/or offer cost non-exec directorships to senior Conservative politicians, which is the object of the exercise from the point of view of Chris Grayling (and whichever Prime Ministers appointed him/didn't sack him).

Friday, 12 April 2019

"Unregistered schools given council funding"

The BBC at its PC best.

You can guess pretty well what this is about just from the headline, but you have to slog two-thirds of the way through the article before they come out and actually say it.

There were a couple of tantalising clues along the way. They've removed the reference to the school which taught "English and Arabic" as that would have been too obvious, just leaving this to keep you going...

... inspectors said that many children were still being taught in this "murky world", with the biggest number in London and the West Midlands.

A bit like the Daily Mail articles where they don't mention the house price until the very end.

Friday, 28 December 2018

Help to Buy Pay Dividends

George Osborne introduced 'Help to Buy' in March 2013.

Here are the changes in dividends per share paid 2013 (or 2014 if I can't find 2013) vs dividend per share paid 2018 by the UK's biggest 'home builders'.

Barratts: 5.7p - 26.5p
Bellway: 37p - 227.5p
Berkeley (earnings per share): 221.8p - 562.7p
Bovis: 21.5p - 98.5p
Crest Nicholson: 10.6p - 33p
Persimmon: 65p - 110p
Redrow: 3p - 28p
Galliford Try: 53p - 77p
Taylor Wimpey: 0.6p - 4.8p
Telford Homes: 4.8p - 17p

Enough said?

Tuesday, 20 November 2018

"Putin’s bodyguards given prime land and plum jobs"

Emailed in by Jack B, from The Times:

President Putin’s former bodyguards have been rewarded for their loyalty with appointments to key posts, while their families have received high-value land near Moscow in an allegedly corrupt property scheme, a Russian newspaper has claimed.

Not much different to what William The Conqueror and his descendants were up to, in other words. Funny how The Times doesn't look at UK land ownership in the same light.

Wednesday, 12 September 2018

The Revolving Door, still spinning.

From The Telegraph:

The former head of the Serious Fraud Office (SFO) is joining a City law firm that acted on some of the agency's most high-profile cases while he was in charge.

Slaughter and May, one of the UK's so-called "magic circle" firms that can charge clients more than £1,000 an hour, has hired Sir David Green as a senior consultant despite fears that there could be a conflict of interest.


*could*

Monday, 18 December 2017

Fun Online Polls: Bitcoin, Trump and Russian interference in the Presidential election.

The results to last week's Fun Online Poll were as follows:

Bitcoin is...

A decentralised digital currency - 25%
A massive great pyramid scheme - 63%
Other, please specify - 11%


A lot of people left a comment saying "both", with the benefit of hindsight, I should have included this as an option.

I'm with the majority on this, thanks to everybody who took part.

By the way, if you know how to sell Bitcoin, would you be so kind as to send me an email and explain? Ta!
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The whole Russiagate (are we calling it that yet?) saga rumbles on.

Originally, I assumed it was something that the Clinton team invented to discredit Trump, but now it looks as if Trump is really botching a cover-up i.e. there must be something in it.

So that's this week's Fun Online Poll.

"Did Trump collude with Russia in the 2016 Presidential election?"

Vote here or use the widget in the sidebar.

Tuesday, 31 October 2017

Fun Online Polls: The North-South divide; Fixed Odds Terminals

The results to last week's Fun Online Poll were as follows:

The UK's North-South divide runs from...

Chester to London - 8%
Bristol to Norwich - 76%
Other, please specify - 16%


A low turnout of 50,even though I was away last week so this Poll ran for a fortnight.

Thanks to everybody who took part or left a comment, but I'm with the majority on this. If you've spent half your life in Oop North and half Darn Sarf, you know the difference.
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And lo, The Righteous are out in force again:

Gambling addict warns against fixed-odds betting terminals

A recovering gambling addict has warned others about the dangers of using fixed-odds betting terminals in bookmakers. The man, who asked to remain anonymous, said he had lost as much as £15,000 in a day at betting shops in Reading town centre.

The government is conducting a review into the machines, which account for more than 50% of bookmakers' profits. The Association of British Bookmakers said a report suggesting the maximum bet should be reduced from £100 to £2 was "flawed".


You can't even begin to pick holes in these claims and counter-claims, they are one giant hole. I'm not going to waste your time or mine by trying to guess what the actual substance is before picking holes in it anyway. The only fun bit is waiting for Philip Davies to spring to the defence of the betting industry for the eight zillionth time.

So that's this week's Fun Online Poll.

What 'should' be the maximum bet on fixed-odd betting terminals?

Vote here or use the widget in the sidebar.

Saturday, 28 October 2017

Joined up government

From the BBC:

Five offshore PFI companies paid little or no corporation tax during a five-year period despite making profits of nearly £2bn, the BBC has learned.

The five companies specialised in lending money through Private Finance Initiatives (PFI). They own hundreds of public assets including schools, hospitals and even police stations. The BBC has also learned that a small number of big offshore companies are currently on a buying spree.


I know that the whole PFI thing was a corrupt taxpayer funded giveaway and deliberately intended to make massive losses for the government/taxpayer in exchange for political party donations and cosy jobs post politics, but on a practical level, how can they get away with it?

Their 'tenant' is the government! Can't the government qua tenant just withhold 20% tax at source (like any other tenant of a non-UK registered landlord is supposed to do)? If the poor PFI companies think they've been overcharged, well it's up to them to submit proper accounts and tax returns.

Wednesday, 21 June 2017

"Psst, we're having trouble shifting these pricey new flats..."

"Not to worry, we can sort you out with taxpayers' money while appearing to help out the little guys..."

Friday, 5 May 2017

The revolving door

From House of Commons Committee of Public Accounts, Tax avoidance: the role of large accountancy firms, 2013 (page 14)

HM Treasury’s Office of Tax Simplification was established to provide the government with independent advice on how to simplify the UK tax system.

Deloitte and PwC told us that they have seconded staff to work at the Office of Tax Simplification.


From The Daily Mirror:

George Osborne will have trousered more than £1million from part-time jobs before stepping down as an MP, it emerged today.

The ex-Chancellor's earnings from speeches alone are due to total £1.14million in the 10 months between being sacked by Theresa May and leaving Parliament...

And £65,901 is expected from seven hours' work speaking to accounting firm PriceWaterhouseCoopers in Dublin.

Sunday, 16 April 2017

"How Dave's chums are lining their porky pockets"

The Daily Mail does what appears to be a bit of original research for once:

Set in 20 acres of Florida’s ocean-front splendour and with the best suites costing from £6,000-a-night, the Fontainebleau Hotel is in area of Miami Beach known vulgarly as Millionaires’ Row.

This week, one of its guests has been David Cameron, on the latest stop of his post-Downing Street money-making career. He was a star turn at the annual Credit Suisse Global Trading Forum where business leaders discussed ways to enrich themselves and others in the world of finance. His fee was around £100,000.

Next month, the former PM (who quit as an MP very soon after his humiliating EU referendum defeat and thus is no longer obliged by parliamentary rules to declare his earnings) will speak at a hedge fund conference in Las Vegas.

Cameron isn’t the only one cashing in on his six years in Downing Street. His closest former advisers and friends — most of whom he rewarded with gongs and titles — are also lining their pockets in a way that tarnishes public trust in the political system...


The article then runs through a list of all the lucrative stuff which some of his other ex-Number 10 people are now doing, well worth a read just to get your blood boiling.

Maybe I spend too much time railing against certain specific categories of rent seeking, i.e. tax avoidance by landowners and homeowners (in their capacity as landowners; most of them are also workers and thus paying too much tax on their earnings and spending) and the obscene salaries of senior banking employees who piggy-back the landownership system (and enjoy other state-backed privileges and subsidies).

The type of genteel corruption outlined into the article is another symptom of the same thing. Underlying both is the fact that a stable society/nation state with peace and order within its own borders (the more so if it is at peace with its neighbours) enables people to generates far more wealth that they could in some sort of "anarcho-capitalist" system (whatever that is).

Few people are actually worse off for the existence of nation-state, but the extra wealth i.e. rent belongs to everybody and nobody, no identifiable individual created it, so that is what is up for grabs and should be the primary source of government funding, not the primary source of ex-government employees lining their own pockets.

For a nation-state you need overarching common rules and public bodies to enforce them, they usually accrue far too much influence and their budgets swell accordingly. Even the smallest, most streamlined government will need to buy stuff from the private sector, and given the billions at their disposal, it's hardly any wonder that the providers like to bribe those responsible for dishing out the subsidies and enforcing 'standards' which operate as barriers to entry.

So you can never eliminate it, all you can do is keep it to a minimum (taxing land values is administratively easy, keeping the government streamlined is a constant battle and how you police millions of public sector workers even in a streamlined government, I do not know).

The examples in the article show quite clearly that the UK is doing no such thing.

That seems to be the whole point of getting elected or being promoted to a senior public sector job nowadays, for the goodies you can collect afterwards from the people you did favours for while in office (or even while you are in office, see also from the Daily Mail: The 539 town hall fat cats who rake in MORE than the Prime Minister).

Monday, 13 March 2017

Corruption "with a little c"

Reader's letter from City AM:

George Osborne's new job

The reason that appointments like this are treated with suspicion is because there are many examples of corruption "with a little c" in government and the question arises whether BlackRock benefitted from the decisions George Osborne made while Chancellor.

If Osborne is worth the money he is being paid, then good luck to him, but don't be surprised that questions are asked!

Rob Kelly


As if on cue, MBK emailed me this from yesterday's Sunday Times:

The US funds giant that employs George Osborne on a £650,000-a-year contract is considering bidding for billions of pounds of taxpayer-backed student loans.

BlackRock is understood to be eyeing the debt portfolio, which was originally put up for sale in 2013 when Osborne reigned over the Treasury...


I'm sure we can all work out who the "little c" is.

Monday, 30 January 2017

"Obama Administration Bails Out Private Equity Landlords at the Expense of the Middle Class"

Emailed in by TBH from Naked Capitalism.

A fairly long article, concluding with this:

Let us stress that there is absolutely no policy justification for this. The mission of the government sponsored agencies is to promote home ownership, not to give real estate speculators a “get out of losses or underwhelming returns for free” card.

Even worse, rather than forcing the private equity industry to take some well-deserved lumps for miscalculation, it will encourage them to continue to compete with lower-income prospective homeowners for purchasing properties. That means it will be even more difficult for young people to buy homes.

Lambert has pointed out repeatedly in his stats wrap in Water Cooler that real estate markets are suffering from a shortage of homes. Having private equity continue to be on the prowl for lower priced properties that they know they can unload from an economic perspective means that the pauperization of the middle class is now official policy.

Wednesday, 20 July 2016

The revolving door spins ever faster...

There's a good article in The Daily Mail on the topic.

Here's the pithiest bit:

OUT OF OFFICE BUT ON THE UP

SIR NICHOLAS MACPHERSON: The former permanent secretary at the Treasury will become chairman of C Hoare & Co, a two-day a week position at Britain’s oldest bank. It has been accused of helping the wealthy cut inheritance and capital gains tax bills

SIR DANNY ALEXANDER: He was Chief Secretary to the Treasury before losing his Liberal Democrat seat in last year’s general election. He has been taken on by the Chinese-run Asian Infrastructure Investment Bank as vice-president and corporate secretary

SIR ERIC PICKLES: The Communities Secretary from 2010 to 2015 has been cleared to become director of a recycling and waste management company Leo Group. He spent his time in Cabinet trying to persuade councils not to axe weekly bin collections. But ACOBA said there was no conflict of interest because recycling was the responsibility of the Energy Department

NICK CLEGG: The former Deputy Prime Minister and Lib Dem leader has been given the go-ahead to take up six positions. They include working for News Presenters Ltd as a speaker, writing a column for the London Evening Standard, and starting a think-tank

SIR ED DAVEY: The ex-Lib Dem Energy Secretary can take up five posts. These include chairman of Mongoose Energy, a renewable energy firm, and consultant for MHP Communications, which has dealt with EDF Energy. He signed a money-spinning deal with EDF to build Hinckley Point nuclear power plant when in office.


They're all cashing in on the favours they did while in office. Bastards.