Scotland is staring into a housing abyss with fewer social rented homes than it had 50 years ago, according to a stark report published today (Friday) by leading housing and homelessness charity, Shelter Scotland. The charity’s shocking new report Building Pressure, [1] which lays bare the growing chasm between the number of homes needed and [...]
Posts Tagged ‘crisis’
Vince Cable – Treasury’s mismanagement of the Northern Rock crisis
Cable: Northern Rock report is account of Treasury’s mismanagement Vince Cable Commenting on the NAO report into the nationalisation of Northern Rock, Liberal Democrat Shadow Chancellor, Vince Cable said: “This report is a damning account of the Treasury’s mismanagement of the Northern Rock crisis.” “The Government’s inability to stop Northern Rock issuing high risk Together [...]
China – Tens of thousands of migrant workers have lost their jobs in Guangdong province
A sense of uncertainty is growing among jobseekers as the country faces a worsening employment situation, experts said on Friday. Financial professionals of Chinese heritage and Chinese people studying or working in the United States meet with recruiters for companies from Shanghai during a recruitment event in Queens, New York, December 13, 2008. [Agencies] “There [...]
UK Economy Slide forces Bank of England to slash interest rates to 3%
The Bank of England’s statement in full: The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 1.5 percentage points to 3%. The past two months have seen a substantial downward shift in the prospects for inflation in the United Kingdom. There has [...]
Bradford and Bingley Nationalisation blow
Another damning blow to Gordon Brown’s management of the UK economy emerges following on from the Northern Rock fiasco. Troubled bank Bradford & Bingley is to be nationalised, the BBC has learned. Officials from the Treasury and the Financial Services Authority (FSA) have been in talks with executives from the bank in a bid to [...]
