` Cameron comes under attack for `Sell-Out ' of Royal Mail to `Institutional Investor's ' who Sold-Out the Taxpayer '

#AceFinanceNews – BRITAIN – April 02 – Press TV – British Prime Minister David Cameron has come under pressure over the sell-off of Royal Mail, with critics accusing him of selling the firm’s stakes at a knock-down price.

On Wednesday, Cameron was questioned in the House of Commons over the handling of the sale of a 60-percent stake of the mail operator.

Ed Miliband, the opposition Labour party leader, criticized Cameron of selling the shares at an undervalued price.

“He sold at 330 pence and this morning the price was 563 pence. It is basic maths,” said Miliband, labelling Cameron the “Dunce of Downing Street.”

According to the Labour leader, the undervaluation of the 500-year-old state postal operator has cost British taxpayers £1.4 billion.

Miliband continued by saying, “A third of the shares were sold to just 16 city investors and there was a gentleman’s agreement that those city investors wouldn’t sell the shares.”

“What happened? Within weeks, half of those shares had been sold and they had made a killing worth hundreds of millions of pounds. In other words ‘mates rates’ for his (Cameron) friends in the City,” said Miliband.

Cameron responded by dismissing Miliband’s accusations with false claims that the Labour party had called for privatization of the mail operator.

This comes as Britain’s National Audit Office (NAO) released a report on April 1, criticizing the sale. The NAO said the government pressed ahead with plans to privatize Royal Mail at a price of 330 pence a share even though there had been warnings that it was undervalued.

Prior to the sell-off, banks had estimated that the government could receive up to 867 pence per share.

Press TV – CAH/AB – (Additional reporting by Belinda Goldsmith and Chris Vellacott; Editing by Jane Merriman and Pravin Char)

Ace News Services – SELL-OUT – April 02 – That Standard Life Investments said on Tuesday it had cut its stake in Royal Mail from close to 12 million shares held after it was privatised to around 118.480 shares in March.

The NAO also said the government should not have followed the advice of its financial advisers to sell the full 60 percent of shares available for sale.

It could have retained 110 million more shares worth 363 million pounds ($604 million) at the offer price, while still achieving its objective of reducing its ownership to below 50 percent, allowing it to sell another tranche for more later on.

The watchdog questioned the incentive given to the government’s independent corporate finance adviser Lazard , which was to secure a sale and was not dependent on the value achieved.

In a response, Business Secretary Cable said a sale at any cost had never been the aim.

Reports – Stated that Standard Life sold off their shares and made millions in March, meanwhile under the rules of sale the Royal Mail Postal Workers cannot sell for 3 years.

#AFN2014

#britain, #british-prime-minister-david-cameron, #ed-miliband, #royal-mail-house-of-commons, #standard-life, #standard-life-investments

Today the People Pay Ten Million for the Emperors New Clothes

English: NHS logo

English: NHS logo (Photo credit: Wikipedia)

On the face of it this seems a great deal for the voluntary sector and how they can provide help for the homeless, but the real truth is that it saves this government having to support the NHS!  As in the long run they want to change our health service into a privatised and fee paying one ,for those that can afford it! This is similar to the US Healthcare system that was based on the amount of money you could afford to pay for your health insurance, that Obama has tried to wipe out! So the UK Government will lead its people down this path, providing contracts for the likes of Atos!  
So watch this space because what is done today, is a blind and only those that look for the truth, will find out the real truth about how the taxpayers money is really being spent! As keeping people out of hospital and freeing up A & E looks good, but it allows other projects in a mess like the NHS Direct Number 111 and also other third-party contracts to thrive!
Enabling resources to be provided above the normal prices and below the standard the people who are ill should expect.
Extract from the Guardian 29/07/2013 The organisation originally won 11 of the 46 contracts to provide the 24-hour service in England. It had put a value of £43m a year on the contracts, but says its predicted income is £21.2m. http://www.theguardian.com/society/2013/jul/29/nhs-direct-111-telephone-service-risk     
The story that comes to mind is the “Emperors New Clothes” and as we know the people was so scared of the Emperor they would not speak, as the Emperor had also been blinded by the truth of the tailors deception, but one poor and wide-eyed youth, saw the truth and spoke, these words out loud ” The Emperor Is Naked As Naked As He Was Born” then like all sheep the people agreed and they laughed and laughed! 
 Are you those people who are blind as it does not affect your life, or are you like the youth, that told it as it really is, or are you a sheep or a lamb!
Judge for yourself?
Then leave your comments in the box and l promise l will approve all those that are written on the subject, not spam and any really good ones will be featured on the front page of Ace News Services!
Well here is the article simply copied and pasted need the link to prove it here it is: https://www.gov.uk/government/news/ten-million-pound-cash-boost-to-improve-the-health-of-homeless-people                     

Fifty two projects have been awarded a share of £10 million to make sure homeless people receive better help once they leave the hospital, Public Health Minister Anna Soubry announced today.

It is estimated that homeless people attend A&E up to six times more than people with a home – and that now 70 per cent of homeless people are discharged back onto the street without their housing or on-going care needs after hospital being properly addressed.

The projects are run by voluntary sector organisations who will work with the NHS and local government to make sure homeless people get the best possible support and care after they leave the hospital. This will help reduce the number of homeless people who are readmitted to hospital.

Some of the organisations receiving funding will provide:

  • Specialist training for hospital staff on the needs of homeless people;
  • Support to make sure their care continues after discharge;
  • Teams to support homeless people find accommodation that takes into account their health needs; and
  • 14 care beds for people discharged from hospital thanks to over £1million from the fund.
Anna Soubry

Anna Soubry (Photo credit: Wikipedia)

Public Health Minister Anna Soubry said:

In today’s society, it is not acceptable that people are leaving hospital with no plans in place to discuss their ongoing care needs.

The £10 million we have awarded to these 52 projects will help stamp out the bad practice we know exists in some trusts when homeless people are discharged from hospital and make sure they have the support and care they need.

Housing Minister Mark Prisk said:

This Government is working hard to make every contact count, ensuring that homeless people have access to the help and support they need wherever they are – from the housing office to the hospital bed. Today’s funding, backed by a further £470 million Government investment in homelessness prevention, will reach people in need when they’re at their most vulnerable, getting them back on their feet more quickly, and saving local services the ongoing bills for repeat treatment.

Then he was replaced by a new minister! 

#acehealthnews, #10-million, #anna-soubry, #atos, #david-cameron, #department-for-communities-and-local-government, #department-of-health, #ed-miliband, #england, #health-care, #homeless-people, #homelessness, #housing-association, #len-mccluskey, #liam-byrne, #london, #mark-prisk, #mungo, #national-health-service, #national-health-service-england, #nhs, #public-health-minister-anna-soubry, #rick-henderson, #saint-mungo, #sam-gyimah

Only Good Citizens Need Apply!

The Mail on Sunday claims that Ed Miliband has been embarrassed by MPs in his own party, after the Labour leader called for ‘good citizens’ to be fast-tracked up council-housing lists. The paper notes that the local Labour council in Camden has said that they don’t have enough houses, while Labour runMerton Council has said such a move would breach Harriet Harman’s equalities legislation.

I read this story with dismay as the word ” Good ” has many onerous ways to be understood!  The free dictionary has many ways to tell us how it should be used, please read it at this link http://www.thefreedictionary.com/Good 

The good l mean is who decides one man or woman is good and by what guidelines do we apply this meaning? If we refer to one person being good at sport ,do we believe those people get a council house first! Or maybe someone who teaches our children and who earns enough, to pay for a home and does not need this type of help! Or maybe simply the tramp in the street, who for no fault of his own is on their uppers! Once a shopkeeper and a supermarket is allowed to open up and his business goes crash!

So l look at good as what one person does for another and not by what that person expects in return! The meaning of giving of oneself for no reward is a seldom gift and so easily abused, by us and our society!

#current-events, #ed-miliband, #free-dictionary, #good-citizens, #government, #harriet-harman, #jon-cruddas, #labour, #labour-council, #labour-leader, #mail-on-sunday, #member-of-parliament, #miliband, #politics

How We Morally Justify Tax Avoidance

Secret denunciations against anyone who will c...

Secret denunciations against anyone who will conceal favors and services or will collude to hide the true revenue from them. (Photo credit: Wikipedia)

Morality

Morality (Photo credit: tdietmut)

CASH IN HAND – 

Has been around for longer than l can remember it goes back to before the use of currency as we know it came into being! So long ago a number of people using goods and chattels provided us with a way to barter, such as a handyman provides a service and gets paid by receiving payment in kind!

I worked with a man called Steve Adams [RIP] he was a craftsman plumber by trade and he received payment in different forms, from a bottle of whiskey, step-ladder and even a car! These people from local politicians through to the man or woman in the street were paid this way,for many a year. it was simply called ” Payment or Benefit in Kind

This like so many ways to not pay tax sooner rather than later were to become know as ” Tax Avoidance” and a rule in the 80’s was coined as ” Benefit In Kind ” for using a vehicle in business or receiving a so-called benefit or as it came to be known a ” Bung” but was this really tax avoidance.

The fact that Cameron came out with the statement that they would clamp down on tax avoidance schemes led some to believe he meant the businesses and banks! Of course the more cynical of us and l am one realised it would mean the ordinary working man or woman.

The fact that the person put in charge has been in charge of showing people how to avoid tax in the past! Does this make him the right person to morally judge us? This extract thanks to Wikipedia shows he had expertise in ” Tax and Structuring ” tells us he was advising people on ” Tax Avoidance Schemes”

Professional Career

He was a researcher to the Conservative MP for Milton Keynes South West Barry Legg in 1993. He worked as a trainee solicitor with Richards Butler from 1995, being admitted as asolicitor in 1997. From 1999 to 2005, he was a solicitor in the financial services group atMacFarlane[1], a corporate law firm with expertise in “tax and structuring”.

David Gauke didn’t find many supporters for his view that paying tradesmen cash in hand was “immoral” yesterday. Dave, Nick, Ed Miliband and Boris all lined up to say they’ve done it before.  

We’ve got a feature by Dan Hodgescalling the affair “another attack on the middle classes” ; he warns politicians about the hazards of moralising on tax. 

So what is morally justified in this world of financial jiggery-pokery http://www.thefreedictionary.com/jiggery-pokery who can give us advice on what we should consider is tax avoidance or just a way to avoid paying our ” just desserts”

Well my answer is that as long as you provide a good service at the right price and submit your tax forms to the appropriate authorities on time, you do the right thing! By using the rules and regulations set down by the HMRC and keeping within them you can utilise legitimate tax avoidance by not paying more than you really have to and keeping yourself, family and tax man firmly on the other side of your front door. As once they have a foothold they will not let go until they drain the life blood from your bank account and provide it to the ” True Avoider’s of this World” the people who made the rules up in the first place!

#barry-legg, #cash, #david-gauke, #ed-miliband, #hm-revenue-and-customs, #macfarlane, #milton-keynes-south-west, #tax-avoidance-and-tax-evasion