Local Authority Borrowing Is On The Rise – But Cameron Says We Are Borrowing Less – What Is The Real #Truth

The latest local authority borrowing and investments statistics produced by the Department for Communities and Local Government were released on Wednesday 18 September 2013.

Key points from the latest release are:

total gross borrowing of the local government sector in the UK rose by 2.9%, from £81.8 billion to £84.2 billion in the year to the end of 2012 to 2013; of this £2.4 billion national increase, £1.5 billion was due to increased borrowing by the Greater London Authority (GLA) and Transport for London (TfL)
total local authority borrowing has increased by £22.8 billion (37%), from £61.4 billion to £84.2 billion, since March 2007; however, excluding the one-off housing revenue account (HRA) settlement in March 2012 (£8.1 billion) and the increased borrowing by the 2 big all-London authorities mentioned above (£8.6 billion), borrowing by the rest of the local authority sector has increased by only £6.1 billion (10%) from £60.0 billion to £66.1 billion over these 6 years
total investments rose 13.8% from £26.1 billion to £29.7 billion in the year to the end of 2012 to 2013; of this £3.6 billion national increase, £1.9 billion was due to increased investments by the GLA and TfL
within investments, there was a £537 million decrease in resources invested in money market funds, of which £422 million was from TfL alone; similarly, £1.6 billion of the £2.3 billion increase in other securities was from TfL

#acedebtnews, #gla, #local-government-association



New York, Oct 2 2013 11:00AM
Some 59 States took part in the annual <"http://treaties.un.org/Home.aspx?lang=en">United Nations Treaty Event which gives countries the opportunity to sign or become party to treaties on critical issues such as human rights, disarmament and the environment on the margins of the General Assembly’s high-level debate.

"We are very pleased with the treaty actions taken over the five days,” said Miguel Serpa Soares, Under-Secretary-General for Legal Affairs and UN Legal Counsel. “The actions reflect a clear commitment on behalf of States to advancing the universal application of internationally agreed-upon norms and standards.”

During the course of the event, which took place from 24 to 26 September and from 30 September to 1 October, 59 States took 113 treaty actions.

This year, much of the attention was focused on the Arms Trade Treaty, which was signed by 27 countries – including the United States – and ratified by three during the event, bringing the total number of signatures to 113 and the total number of parties to seven.

“It is of particular significance that the largest arms-exporting country in the world, the United States, is now also among those countries who have committed themselves to a global regulation of the arms trade,” a spokesperson for Secretary-General Ban Ki-moon said in response to US Secretary of State John Kerry signing the treaty.

Adopted in April this year, the ATT regulates all conventional arms within the categories of battle tanks, armoured combat vehicles, large-calibre artillery systems, combat aircraft, attack helicopters, warships, missiles and missile launchers and small arms and light weapons. It needs 50 ratifications to enter into force.

The Convention on the Rights of the Child and its Optional Protocols were also under the spotlight, with Russian Foreign Minister Sergey Lavrov depositing his country’s ratification of the Optional Protocol on the Sale of Children, Child Prostitution and Child Pornography on the first day of the event.

“The Government of the Russian Federation is to be congratulated for the expression of its commitment to protect children from violence and prevent their exploitation as victims of sale, prostitution or pornography,” said Marta Santos Pais, the Special Representative of the Secretary-General on Violence against Children.

The Convention is a universally agreed set of non-negotiable standards and obligations, providing protection and support for the rights of children. The other two Optional Protocols deal, respectively, with prohibiting the recruitment of children in armed conflict, and allowing children to bring forward their complaints to the UN if their rights are being abused.

The latter was signed by Benin, Côte d’Ivoire, Ghana, Guinea-Bissau and Seychelles, and ratified by Montenegro and Portugal.

The Convention on the Rights of Persons with Disabilities – the first international agreement requiring Governments around the world to uphold the rights of children and adults with disabilities, adopted in 2006 – was ratified by Papua New Guinea and Venezuela, and signed by Bahamas and Guinea-Bissau.

In addition, the Protocol to Eliminate Illicit Trade in Tobacco Products received 11 signatures, pushing to 34 the number of signatories since its adoption in Seoul, Republic of Korea, in November 2012.

The 1996 Comprehensive Nuclear-Test-Ban Treaty also collected two ratifications during the event, by Iraq and Guinea-Bissau, bringing the total number of parties to 161.
Oct 2 2013 11:00AM
For more details go to UN News Centre at http://www.un.org/news

The Difference Between Profit and Prosperity Is Just One Word

I heard an amazing comment the other day from an investment broker dealing in the corporate bond market, that sums up this world into a cocked hat! It was we have always been able to borrow from the debt mountain for years, now suddenly it has become more difficult! Any country trading on debt will accumulate profit, but any country trading on providing for the peoples needs, will become prosperous! One word a different strategy, one is based on capitalism and the other is based on sharing of the countries wealth!

#acenewsservices, #newsandviews-debt, #bond-market, #broker, #corporate, #profit, #prosperous, #wealth