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County Council Members’ Allowances remain frozen

Bucks County Council recently approved an independent panel’s recommendations that included continuing a freeze on Member allowances since 2009 and identifying savings of over £60,000 a year. Mike Appleyard, Deputy Leader of Buckinghamshire County Council said: Clearly the Panel’s recommendations on Members’ allowances rightly reflected the financial pressures on today’s public sector. The main allowances paid to our councillors have now been frozen since 2009, and following the reduction in our overall numbers of Councillors from 57 to 49, we also expect make further savings of around £60,000 in our […]

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Banking: from Goldman Sachs to David Fishwick?

Two days ago, Greg Smith, a Goldman Sachs executive director, resigned in sensational fashion, writing a column in the New York Times. In the article, he laid out the reasons for his resignation, citing the change in culture at the firm over the ten years he worked there. He wrote, It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always […]

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Crass Keynesianism

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This article originally appeared at cobdencentre.org. Via Thrifty families accused of prolonging the recession – Times Online, yet more crass Keynesianism: Anxious families are repaying debts instead of spending in the shops, amid concern over the uncertain economic outlook. The share of income saved in banks and building societies has risen to its highest level in more than a decade, heightening fears that faltering consumer demand could prolong the recession. But see also Correction, Mr. Bernanke: It is real savings […]

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