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Archive for May, 2007

Tories to Continue Blairs Public Service Reform

Wednesday, May 30th, 2007

Concerns over Gordon Brown’s intentions as Prime Minister are continuing to surface in the news. An article on the BBC News Website discusses why the Conservatives are the best party to carry on Mr. Blair’s public service work.

Shadow Counsellor George Osborne stated “The fact that Gordon Brown has abandoned the centre ground of public service reform to the Conservative Party is a great opportunity for us to improve life… for the many not the few”.

Read more over at BBC News.

Interest Rates Expected to Rise Again

Thursday, May 17th, 2007

GraphAs I watched the evening news last night I was surprised to hear that interest rates are expected to rise again in the next few months. In a recent poll 65% of the economists predicted another rise to 5.75% later in the year.

The reason so many believe it will take place is so The Bank of England can hit their 2% inflation target within the next 2 years.

However, if interest rates continue to grow at this speed what is going to happen to the housing market? We’ll have to wait and see.

Gordon Will be The Next Leader

Thursday, May 17th, 2007

It has been confirmed that Gordon Brown will be the next Labour Party leader and therefore our new Prime minister. Mr. Brown received backing from a huge majority of Labour MP’s acquiring 88% of the votes. Poor MP John McDonnell only received 29 nominations; not even enough to participate in a democratic election.

Is anybody really surprised? I sense not. I think it’s a shame that they didn’t give Mr. McDonnell a chance, I thought he was quite a nice guy! Anyway, Gordon Brown is expected to take over Tony Blair’s role on Wednesday 27th June.

Deputy leadership contenders will now compete to take the deputy role from John Prescott and to work alongside Mr. Brown. Alan Johnson received the most nominations out of the six and Hilary Benn just scraped through with 47 votes (45 is the minimum).

Tony Blair Announces Resignation Date

Saturday, May 12th, 2007

Tony Blair has announced that as of 27th June he is standing down as leader of the Labour Party. He will therefore no longer be Prime Minister and a new candidate will take over his role (I wonder who!). It’s about time he finally gave us a date, a part of me thought it would never happen. I think it would be best for Tony to just leave on the 27th and have a nice long holiday in the Caribbean to recover from the 10 years of stress in his role as Prime Minister, but no, he has decided to stay on for a further 6 weeks until the new Labour Party leader is elected.

The country is now almost certain that Chancellor Gordon Brown will be elected as the new Labour leader and therefore will take over Tony Blair’s role as the PM.

Interest Rates Hit 5.5%

Thursday, May 10th, 2007

GraphToday, the Bank of England officially increased interest rates to 5.5% as predicted. Although this is the first rise since February, it has taken the cost of borrowing higher than it has been since 2001. If you are a saver then I’m sure this will be good news for you however, homeowners are likely to face higher bills and higher mortgage interest repayments.

For the average household with a 100,000 mortgage there will be an average increase of £16 extra on repayments, could this be the beginning of a crash?

Read more information at The Guardian.

Voters Head Out For Super Thursday

Thursday, May 3rd, 2007

BallotToday has been nicknamed ‘Super Thursday’ – the day voters rush about to make sure they have an input in election results.

Voting in England, Scotland and Wales is all taking place today and with up to 39 million people allowed to place a vote, it’s surprising anything gets done anywhere else! Polling stations will be open until 22.00 so make sure your vote counts.

Due to the new postal voting system – many of the counts in England will be delayed until Friday so it wont be until Friday afternoon that results will be available.

More information at BBC News.