After years of lambasting other countries for helping rich Americans hide their money offshore, the U.S. is emerging as a leading tax and secrecy haven for rich foreigners. By resisting new global disclosure standards, the U.S. is creating a hot new market, becoming the go-to place to stash foreign wealth. Everyone from London lawyers to Swiss trust companies is getting in on the act, helping the world’s rich move accounts from places like the Bahamas and the British Virgin Islands to Nevada, Wyoming, and South Dakota.
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Category Archives: What interests us
NHS spending too low compared to EU-14 and OECD countries
Over the next few years spending on the NHS increased substantially, pushing total (public plus private) spending to 8.8 per cent of GDP by 2009. By then, however, the EU-14 spend (weighted for size of GDP and health spend, and minus the UK) had moved on to 10.1 per cent of GDP. Still, the gap between the UK and its European neighbours was closing.
Since then, however, the gap has started to widen (particularly against countries that weathered the global financial crisis better than the UK) and looks set to grow further. UK GDP is forecast to grow in real terms by around 15.2 per cent between 2014/15 and 2020/21. But on current plans, UK public spending on the NHS will grow by much less: 5.2 per cent. This is equivalent to around £7 billion in real terms – increasing from £135 billion in 2014/15 to £142 billion in 2020/21. As a proportion of GDP it will fall to 6.6 per cent compared to 7.3 per cent in 2014/15. But, if spending kept pace with growth in the economy, by 2020/21 the UK NHS would be spending around £158 billion at today’s prices – £16 billion more than planned.
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UK government is cutting Police number guarding nuclear plants
The Tories are axing 200 frontline staff from the Civil Nuclear Constabulary this Parliament. This amounts to a 16 per cent cut in numbers, Continue reading
J-20, F-35, F22: How China developed its fifth generation stealth fighters
This is probably oversimplified, but Yang is certainly an influential individual in the development of China’s modern military aircraft. Beckhusen argues that Yang has basically invented the Chinese evolutionary approach to designing and building combat aircraft. Instead of designing and building a brand-new aircraft from scratch, it “borrows” from other countries’ design, integrate some imported and/or indigenous technology, and produces it at a fraction of the price.
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German gun maker targets more sales to U.S. civilians
German gun maker Heckler & Koch will try to sell more guns to civilians in the United States, forced by Germany’s restrictions on arms exports to the Middle East to look for revenue growth elsewhere, its majority owner told a newspaper. …
“If politics force us to generate practically no sales in the Middle East, we have to look for alternatives,” daily Die Welt quoted Andreas Heeschen, who owns 51 percent of Heckler & Koch, as saying.
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London is de-privatising its rail services
This is intereting. We know that the Conservatives have been ridiculing the idea to re-nationalising the national railways, but when the elections come calling and leadership ambitions to be fulfilled, free market/privatisation will have to take back seat. The Tansport for London is in the process of taking over the running of most if not all of London’s rail network routes. Continue reading
Philanthrocapitalism
Two reports.
And a study (pdf) just out from the Global Policy Forum, an international watchdog group, makes the case that powerful philanthropic foundations—under the control of wealthy individuals—are actively undermining governments and inappropriately setting the agenda for international bodies like the United Nations.
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Netherlands: Estimates of F-35’s Costs go much higher
The Joint Strike Fighters are intended to be the successor of the F-16’s in the air force. In September Hennis already wrote that the purchase of the 37 fighter jets may cost 550 million euros more than expected. She did not adapt her budget at the time to include the new estimate, because it would mean drastic measures when it is still uncertain whether they’d be necessary.
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UN Human Development Report: UK most unequal Western country
The United Nations Development Programme, which published the Human Development Report, said last week: “The United Kingdom, unfortunately, has an exceptionally high degree of inequality.”
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Davos Class: a silent global coup d’etat
The real concern about the WEF, however, is not the personal hypocrisy of its privileged delegates. It is rather that this unaccountable invitation-only gathering is increasingly where global decisions are being taken and moreover is becoming the default form of global governance. There is considerable evidence that past WEFs have stimulated free trade agreements such as NAFTA as well helped rein in regulation of Wall Street in the aftermath of the financial crisis.
Less well known is the fact that WEF since 2009 has been working on an ambitious project called the Global Redesign Initiative, (GRI), which effectively proposes a transition away from intergovernmental decision-making towards a system of multi-stakeholder governance. In other words, by stealth, they are replacing a recognized model where we vote in governments who then negotiate treaties which are then ratified by our elected representatives with a model where a self-selected group of ‘stakeholders’make decisions on our behalf. …
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Dr. Martin Luther King, Jr., Civil Rights and Peace movement
King addressed the issue of the relationship between the struggles for peace and civil rights in his Riverside Church speech. He began the speech by addressing the criticisms of those who suggested that it was not his “place” to speak out against the war:
“”Peace and civil rights don’t mix,” they say. “Aren’t you hurting the cause of your people,” they ask? And when I hear them, though I often understand the source of their concern, I am nevertheless greatly saddened, for such questions mean that the inquirers have not really known my commitment, my calling or me. Indeed, their questions suggest that they do not know the world in which they live.” Continue reading
Martin Luther King Jr.’s Critiques of Capitalism and Militarism
America’s celebrations of Martin Luther King Jr. typically focus on his civil rights activism: the nonviolent actions that led to the Civil Rights Act of 1964 and the Voting Rights Act of 1965.
The last few years of King’s life, by contrast, are generally overlooked. When he was assassinated in 1968, King was in the midst of waging a radical campaign against economic inequality and poverty, while protesting vigorously against the Vietnam War. Continue reading
An analysis of the ‘Davos Class’
This is worth a look, not only because I helped this research.
TNI takes a close look at the World Economic Forum’s Board to see who they represent, their economic interests and political beliefs. Might this be the future of global governance?
ProjectsSeriesThe research showed that:
- Only 6 of its 24 Board members are women (25%)
- 16 are from North America and Europe (67%). There is not one African Board member.
- Half of the Board (12) are currently corporate executives. However if you look at their careers, 16 have a corporate background (67%)
- 22 of the 24 went to universities in US and Europe; 10 went to the same university (Harvard)
- Only one member can be said to represent civil society (Peter Maurer of Red Cross). There are no representatives of trade unions, public sector organisations, human rights groups, peasant or indigenous organisations, students and youth.
Why we should not renew Trident
‘diplomatic relations and arms sales trump the lives of Yemen’s children’
According to the Campaign Against Arms Trade (CAAT), the UK has sold more than £5.6 billion of arms to Saudi Arabia since 2010, including combat aircraft worth £1.7 billion last May.
The arms trade also receives generous state backing. The UK Trade and Industry Defence and Security Organisation, which exists to promote arms sales, gets far more funding than other UKTI sectors, even though the arms trade is responsible for only 1.5 per cent of UK exports.
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Corbyn is right on Trident
Simon Jenkins is spot on on this:
Corbyn was right on Iraq. He was right on Syria. He is right on Islamic State. On the idiocy, waste and vacuous drivel that constitutes “the case for Trident”, he has been right. Fighting him on it just to make Labour seem macho makes no sense.
Political influence on the decision to drop FCA’s banking inquiry
This from Financial Times:
A Bank of England official oversaw the move by the City regulator to scrap a review into Britain’s banks, it emerged on Tuesday, just a day after the Financial Conduct Authority insisted external pressure had not influenced its decision.
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Age of Dissent: more protests in 2015 than any time since the late 70s
The year 2011 is widely viewed as the peak of protest and dissent in the wake of the 2008 financial crisis and the austerity agenda that followed it. It was the year of the Arab Spring, Occupy, UK Uncut, indignados, urban riots and anti-austerity and tuition fee protests – and in which Time magazine famously named “The Protester” as its person of the year.
Yet in the UK, protests continue to occur at a rate rarely seen prior to the global economic crisis in 2008. Indeed, 2015 seems to have confirmed the suggestion, made at the beginning of the year, that 2011 was “really only just the beginning”. …
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Obama SOTU 2016
The United States of America is the most powerful nation on Earth. Period. It’s not even close. We spend more on our military than the next eight nations combined. Our troops are the finest fighting force in the history of the world. No nation dares to attack us or our allies because they know that’s the path to ruin. Surveys show our standing around the world is higher than when I was elected to this office, and when it comes to every important international issue, people of the world do not look to Beijing or Moscow to lead – they call us.
Pakistan’s annual $20m arms sales to over 40 countries, incl. UK and USA
Pakistan has been selling weapons to many countries of the world including United States and Britain.
Minister for Defence Production, Rana Tanveer Hussain, while answering questions in the National Assembly session, said that during 2013, UK bought 69 Pakistan-made sub-machine guns (SMG MP5) and 250 G-3 rifles. … Continue reading
Tipping Point North South 