Can We Trust MPs To Look After Our Finances?
Over the last few months there has been a ground swell of support amongst MPs to increase their salaries to take into account a whole host of expenses which they look set to lose in the short term. There has even been talk of MPs being paid a bonus for attending the House of Commons, something which is totally unheard of in the private sector. So can we trust MPs to look after the public purse when a number of reports have highlighted the fact they seem unable to look after their own finances?
While there is still confusion as to when the subject of MP salaries will actually be sorted out, Gordon Brown has stepped into the fray and blocked an already agreed 1.5% rise in MPs salaries. However, there is widespread disbelief amongst the Labour backbenchers and scepticism in the public domain, with many suggesting that this is just a publicity stunt.
Apparently Gordon Brown has stepped in to block the rise because he would like MPs to set an example to the public services, but he seems set to lose face from both the public and his fellow MPs. The PM has struggled to push through some important decisions of late and moves such as that seen today will not help his support.
Share this..
Related stories
Lloyd's TSB appoint new retail division director
Bosses at Lloyds TSB have announced that finance director Helen Weir is moving to head up the banks retail division. Helen Weir, 45, was offered the position after previous Lloyds TSB retail director Terri Dial, left the company to become chief executive of Citi Bank consumer banking division. Industry insiders predict the move could be the ideal stepping stone for Weir who is thought to be the...
Read More1.1m people switch bank accounts with Switch Service
12/09/2014 1.1 million people have decided to switch current accounts in the last year, due to a nation switching service introduce a year ago. Current Account Switch Service is a free-to-use service for consumers, small charities, small businesses and small trusts, and is designed to make switching current accounts from one bank or building society to another simpler. It is supported by mo...
Read MoreMore problems in the airline industry
Shares in Japan Airlines fell 11% overnight amid concerns that the company is on the verge of filing for bankruptcy with a £10 billion debt pile. Despite the fact that the company has offers from American Airlines and Delta to take a stake in the company, the Japanese finance minister has confirmed that no more state funding will be made available for the airline. This is just the latest in a len...
Read MoreWho would benefit most if interest rates fell to 0%?
As the banking sector continues to hold firm in maintaining and improving profit margins there would appear to be some confusion as to who would benefit most if UK base rates, as expected, fall to around 0%. Many of the UK banks have already come out and stated they will not pass on any more interest-rate reductions to their tracker mortgage customers, which has prompted a controversial debate. Wi...
Read MoreTesco shares lose another 15pc as profit warning is issued
09/12/2014 The financial pressure has been piled higher on the UK’s largest supermarket chain Tesco, as it was revealed share prices have slumped by a further 15 per cent. For the third time in a matter of months the supermarket giant issued a profit warning, downgrading its estimate from its previous forecast, and in turn knocking value from the companies share prices. Tesco made a report...
Read More