Posts Tagged ‘Bankers’ Bonuses’

Christopher Chope Blocks Bill to Outlaw FGM

February 11, 2019

What can decent people do about Christopher Chope, the Tory MP for Christchurch? Apart from either waiting for him to be voted out at the next general election, or having him committed to Broadmoor as a dangerous lunatic whose twisted view of democracy is a threat to the safety of vulnerable women and girls?

Yesterday Mike put up a piece reporting that Chope talked out a bill on Friday intended to safeguard girls and women against Female Genital Mutilation. His decision to do so was in direct opposition to his government’s own stance against this repulsive practice. Mike’s article quotes a tweet from Tweezer herself, who said

Female genital mutilation is an abhorrent practice and we will not accept it. We’ve strengthened the law on FGM, leading to the first UK conviction last week, and we’re helping communities around the world to end this appalling crime.#EndFGM

Chope declared that the reason he did so wasn’t because he was in favour of FGM, but because he hated Private Members’ Bills. But in the instance, as Mike pointed out, his professed principles amounted to pure egotism as he placed them before the wishes of his government, party, nation and parliament. Mike asked in his article whether Chope would have been quite so keen to block the bill if he knew someone, who had suffered from FGM, or if it was a form of mutilation and torture he might also have suffered if he had been born into a culture that practiced such barbarity.

Mike also goes on to say that he first learned about it at school, and it turned his stomach. I was about the same age when I first heard about it, and Mike’s right – it’s horrific and revolting. I think it can very in terms of severity, and has been described by feminists as ‘female castration’. There are absolutely no medical benefits to it, and, apart from the horrific nature of the operation itself, it can also be a positive danger to women’s health. It isn’t just the national government that is worried about it. Local authorities are too. A few years ago there was an article on the local news for the West Country on the Beeb, Points West, about concerns by activists and medical professionals about girls in Bristol being taken out of the country to their families homelands to have it done.

As for Chope himself, last year he also talked out a Private Members Bill to prevent upskirting, which Mike suggests means that he seems to have an unpleasant attitude to stop women protecting their private parts. And public opinion was very definitely against Chope. Mike quotes two Tweets from Dangerous Hero Rachel Swindon, who said

Following on from his upskirting disgrace, Tory MP Christopher Chope MP has just shouted to object to the Female Genital Mutilation Bill.

There is seriously something wrong with this guy. Abhorrent individual.

And also pointed out that he was one who believes in denying government aid to the many, while being very glad to avail himself of it.

Tory Christopher Chope doesn’t just derail upskirting & FGM bills. He voted –
•12 X for the Bedroom Tax
•44 X to cut benefits
​•9 X against bankers bonus tax
•19 X to reduce Corporation tax

He used £10,000 expenses to fix his roof, a £2,600 bathroom & £881 to repair a sofa

Mike stated that, thank to his principles, the provisions of this bill will now have to be included in a formal government bill. Which means more time putting more women and girls at risk. He asks

Will Mr Chope accept responsibility for their pain and humiliation? If not, perhaps any such victims should take out a private prosecution against him.

Mike also concludes

So perhaps we should simply accept that he blocked the Bill against FGM because this principled man believes in the principle behind FGM: That those with power are entitled to do anything they like with those who have none – and do all we can to remove this dinosaur, and his prehensile principles, from Parliament at the earliest opportunity.

See: https://voxpoliticalonline.com/2019/02/10/childish-chope-blocks-anti-fgm-bill-because-he-doesnt-know-any-better/

Chopes’ decision to block the bill seems to be part of the same attitude of a certain group of far-right Tories and Kippers. There was a scandal a few years ago, I seem to recall, when some UKIP MEPs tried to block or voted against a similar bill intended to protect women from either sexual assault or FGM, I’m afraid I’ve forgotten which. And in some cases their actions have been extremely hypocritical.

I don’t know what Chope’s attitude towards Islam is. I’m not aware that he’s a bigot. But there is a very strong element of pernicious, systemic islamophobia in the Tory party. And one of the issues islamophobes have seized upon to try to show that Islam is incompatible with British culture and should be heavily legislated against and discouraged is Female Genital Mutilation. Yes, it goes on in Islam, but it is not commanded in Qu’ran. I think it’s one of the practices that entered Islam from outside, and is most widespread outside the Middle East in sub-Saharan Africa. Certainly the women’s rights activists, who spoke about it on the Points West piece cited cases were girls were being taken there. There is an Islamic feminist movement, and I’m absolutely sure that there are campaigners against it in the Dar al-Islam. But many of the same Kipper MEPs, who voted against the European parliament’s attempts to outlaw it were also bitterly islamophobic, which made them both religiously bigoted and misogynist. Islamophobe or not, by blocking this legislation Chope has also undermined the efforts of Islamic and BAME feminists to protect women. But then, as Dangerous Hero Rachel Swindon and Mike have pointed out, Chope doesn’t believe in supporting the health and welfare of the poor and underprivileged, only in giving even more to extremely rich White men like himself.

As for his precious principles, they’re clearly undemocratic. Private Members’ Bills always have been part of parliamentary democracy. He can hate them all he likes in principle, but it should not be his right to obstruct parliamentary democracy. Especially when it puts women and girls at risk of horrific mutilation.

You hope it won’t be too long before there’s a general election and he, and the rest of his party of thugs and bigots, are thrown out and a proper Labour government installed instead.

Advertisements

Vox Political: Labour to Regulate Banking Sector and Create New Investment Bank

February 13, 2015

Open Hours Pic

Arkwright, Granville and Nurse Gladys Emmanuel from Open All Hours: The face of the British s-s-s-small businessman, who should benefit from a proper investment bank for their needs.

Mike over at Vox Political has today published this article, Labour’s bank reform plans, including bonus clawback and a British Investment Bank, announcing that Ed Balls and Labour’s Shadow Financial Secretary to the Treasury, Cathy Jamieson, will today announce the Labour Party’s plans to reform the banking industry. The new legislation will extend the amount of time in which the government can confiscate banker’s bonuses in the cases where they’ve broken the law. They also want to increase the levy on payday lenders to support alternative sources of credit and increase competition between banks. They also want to set up an investment bank, which will support investment in small and middle-sized businesses.

Mike’s article begins

Labour is today (Friday) publishing its plans to reform the banking sector so that it better supports growing businesses, economic growth and rising living standards.

Ed Balls MP, Labour’s Shadow Chancellor, and Cathy Jamieson, Labour’s Shadow Financial Secretary to the Treasury, will publish Labour’s banking reform paper after a visit to a business in Bedford.

The banking reform paper is part of Labour’s economic plan and sets out a series of measures the next Labour government will take, including:

· Extending clawback of bank bonuses that have already been paid in cases of inappropriate behaviour to at least 10 years and enacting legislation, passed by the last Labour government, to require banks to publish the number of employees earning more than £1 million.

· Creating a proper British Investment Bank to provide vital funding for small and medium-sized businesses. All funds raised from the planned increase in the licence fees for the mobile phone spectrum – estimated to be up to £1 billion in the next Parliament, subject to Ofcom consultation – will be allocated to the British Investment Bank.

· Introducing a one-off tax on bankers’ bonuses to help pay for Labour’s Compulsory Jobs Guarantee – a paid starter job for all young people out of work for 12 months or more, which people will have to take up or lose their benefits.

· Addressing the lack of competition in the sector. We welcome the Competition and Markets Authority inquiry which we called for and want to see at least two new challenger banks and a market share test to ensure the market stays competitive for the long term.

· Extending the levy on the profits of payday lenders to raise funding for alternative credit providers.

Mike quotes Ed Balls as recognising the importance of the banking industry to this country, but states that it needs to be better regulated in order to encourage and promote economic growth.

“Banks are essential to our economy, but we need them to work better for the businesses and working people who rely on them.

“We need much more action than this government has been prepared to take. So Labour’s banking reform paper sets out how we will change rules on bonuses, increase competition and get more lending to small and medium-sized businesses.”

He also quotes Cathy Jamieson on the importance of a proper source of investment for small and medium businesses:

“Bank lending to businesses has fallen year after year under this government. This just isn’t good enough. Without access to finance, SMEs cannot grow and create the high quality, well paid jobs we need to increase living standards. That’s why our plans will deliver more competition in our banking sector and a proper British Investment Bank too.”

The article’s at http://voxpoliticalonline.com/2015/02/13/labours-bank-reform-plans-including-bonus-clawback-and-a-british-investment-bank/. Go over there and read it. Mike wants to hear what his readers think.

The Importance of an Investment Bank

I have some problems with it, but I think in broad terms it is very much a step forward. It also marks a strong break with New Labour policies. Mike’s been arguing over on his blog that Ed Miliband is not the same as Tony Blair and Gordon Brown, whose time is long past. This provides further proof. Despite the rubbish that Cameron and the Tories have spewed about the banking collapse being due to over-regulation by Labour, the very opposite was true. New labour was strongly opposed to regulating the financial sector. Indeed, it played a major role in the City’s change of support from the Tory’s to Labour during Gordon Brown’s and Mo Mowlam’s ‘prawn cocktail offensive’ under Tony Blair. Brown repeatedly reassured the bankers that Labour would regulate them with a light touch. The massive collapse and gaping black holes in the banking industry that led to the recession was not created by too much regulation, but by Labour not watching what the bankers were doing closely enough.

The amount of money bankers have been allowed to pay themselves in bonuses while very efficiently wrecking the economy and ruining the livelihoods of everyone not a millionaire banker is nothing short of scandalous. Extending the amount of time available to confiscate bonuses in cases of illegal conduct is a good start, and should start to restore confidence in the industry.

British industry has also been in desperate need of a proper investment bank for a very, very long time. The authors of Socialist Enterprise and Neil Kinnock, before he dropped Socialism in favour of the free market, recognised that the City was not geared to providing inward investment, and certainly not to manufacturing industry. The major investment banks had been set up to channel investment to Britain’s colonies during the Empire. Even after that had gone the way of ancient Rome, Assyria and Egypt, the banks still preferred to invest overseas than domestically. British domestic investment lagged far behind our competitors in Japan and Germany.

The administrations of the last three decades, following Thatcher, have also been harshly indifferent, or even hostile, to the manufacturing sector. Quite apart from destroying British heavy industry in order to break the unions, Thatcher and her circle had strong links to the financial sector, and neither understood, nor were particularly interested in the needs of manufacturers. In one of their recent issues, Lobster carried a piece about a captain of industry, who did end up mixing with Thatcher and her cabinet. The particular industrialist was a staunch Tory, and so shared her views about crushing the unions and the importance of private enterprise and competition. He remarked, however, on how absolutely ignorant she and her chancellors were about basic economics. One of the obstacles for British exports was the strong pound. This particular businessman tried pointing out to Maggie that a strong pound discouraged countries from importing from Britain, as it made our goods expensive and therefore uncompetitive. Of course, Maggie didn’t want to hear about this, and pointed to Germany as a counter-example. Look at the Germans, she said. The Mark’s strong, and it hasn’t stopped people from buying German. To which the businessman tried telling her that the Mark was strong, because people were buying German goods. It was not a case of people buying German goods, because the Mark was strong. But this was too much for the Iron Lady and her sycophants and acolytes to grasp.

Britain’s manufacturing factor needs to be rebuilt. Unfortunately, Balls and Jamieson’s statement doesn’t recognise this, but the establishment of a proper investment bank will be a very good start.

As for increasing the levy on pay day lenders, I’d rather see them either shut down completely, or have their tariffs lowered even further, as well as promoting alternative forms of credit. Nevertheless, this is another good start.

I also have objections to using money levied on the bankers to set up the compulsory employment scheme. Johnny Void has already attacked the scheme earlier this week with a piece sharply criticising Rachel Reeves. I believe he’s right. The scheme does look like another version of workfare, just slightly better in its treatment of the people forced to take it. I believe the whole welfare-to-work industry needs to be scrapped totally.

Nevertheless, even with these caveats, I believe that Balls’ and Jamieson’s policies should be an excellent step forward. And a proper investment bank that provides support to the small and medium businessman should get the approval of aspiring Arkwrights up and down Britain. Even if it does come from the Socialists.