What is the government actually doing today?
THAMES WATER
Boss Sarah Bentley resigns without making te reason public. Could it be that the job is impossible? Thames has a £14bn debt pile it has built up over successive ownerships – largely the Aussie bank – Macquarie, it is owned by a number of pension funds and sovereign wealth funds. Besides its awful environmental record it has seen leakages increase, whilst all the time paying out high dividends and wages to its management, and the increase in interest rates will mean higher repayment costs. Will it default and be taken back into public ownership – another blot on Thatchers record? There would seem to be 2 scenarios – both disasterous for the government. Hiking water costs by 40% has been suggested by some (Thames Water charges went up by 11.6% on 1st April; this would be completely unpalatable given the mortgage hikes and cost of living crisis; or, let it go bust. The government may find this impossibkke given the sovereign wealth funds including China (8.6%), Abu Dhabi (9.9%) (and pension funds including Ontario (31%) and British Universities Staff Pension Fund (20%). Presumably the Universities fund would need to be underwritten by the government, but allowing the companny to go bust could cause all sorts of knock on impacts for foreign investment? Present profit is £1 billion, but whilst leaving the EU has halted some of the fines they would have accrued, they can expect an increasing public pressure to cut the sewage and price rises. OFWAT is tasked with moderating costs and setting targets – now is the tie to do so.
This also has implications for Starmer who seems set on wining approval from the city
PRIGIZHIN’S
short lived rebellion seemed to be popular in the towns he invaded. His narative of make Russia graet again bears comparason with Trumnps supporters in the USA. Even in the UK there are comparissons with the Brexit vote. Sad old people wanting to live a distorted memory of an unobtainable past. People do not like change, especially the old. Russia over the past has had some horrific experiences, So it is not really a surprise that they support a “strong leader” who can offer them security in the future (not wealth, just security). People in this country did the same with Brexit – they were encouraged to believe that the UK (England) could reclaim its former position (sullied position) as a world leader. if the Dily. Mail and Telegraph were in Russia they woulkd probably be promoting Prigizhin! Nationalism is their mantra – I do not understand this! Nationalism seems to me to be the worst type of belief.
BANWELL, NORTH SOMERSET
When I first moved into Banwell in 1986 I was unprepared for the wealth of history relating to the church, Bishop of Bath and Wells (Abby and Tower on the hill), the largest discovery of prehistoric bones in a cave under the hill, Roman remains including a mosaic, old mine workings, a mystery gravestone. I also heard rumours that St.Patrick may have been born there, I did not believe this to be true, just a legend that had been embellished over a few ales – but https://historyfirst.com/saint-patrick-was-somerset-man-study-finds/ maybe it is all true.
GLASTONBURY
Is it the right wing press or a British obsession to run down anything that is successful and free from the established way of doing things? Glastonbury – a festival which is basically enjoyed (at a cost of £335 per head) by 200000 people, is being criticised for its too middle class white audience and its too male biased lead artists. If this criticism came from the left I would understand, but the right are desperately trying to provoke culture wars. Several papers have reiterated complaints that chips cost £8. Firstly why did they not take somne containers with sandwichws and salad? Were there no rip off food vans during the Coronation? I do know that Eavis tries to moderate costs – so maybe the complainants should have shopped around a bit?
RUSSIA
What is going on? Before the Daily Mail, Telegraph and Express get too excited Prigozhin seems at least as bad as Putin. The chaos that might ensue is concerning (Chaos results in so many unknowns. From what the BBC is saying it seems that the Wagner group is challenging the Russian Military for control, not the Kremlin? However once destabilised it is entering unknown territory? Presumably there will be inits of the Russian military that are very loyal so some fighting is likely? The gripe seems to be based on ground troops rather than the airforce – so. this is an aspect which we remain to hear about. How this may affect the Ukrainian offensive is another unknown? Prigozhin seems hardly likely to back down on Russian territorial demands in this region .
INFLATION- THINK OUTSIDE THE BOX
The BoE has only one option to reduce inflation and that is interest rate hikes to reduce demand. However this makes the banks and bwankers richer. There are other alternatives – tax rises aimed at those who have money to spend (surely it is not the poor fuelling inflation?). A rise in VAT on luxury items . I am sure that there must be at least one economics student who has the ability to think outside the box. Interest rate hikes are there to reduce demand in a generic way. Surely we do not want to reduce demand for healthy foods, medicines and exercise. So maybe the whole vat system needs refinement? help me here!
PRIDE
How Johnson can write such crap? My comments about the sub were purely mine, although maybe I have leftist DNA? BORIS JOHNSON: Lefties sneer. But those brave souls on the submarine died in a cause – pushing out the frontiers of human knowledge – that’s typically British and that fills me with pride Pushing out the frontiers of human knowledge? Brave? What is he on? He obviously does not know the boundary between excessively riched and privileged; and egoistic and selfish! As for the frontiers of human knowledge, there is nothing hew to see down there, just a macarbre sight of a mass rave. As for the “lefties sneer” – what does he mean? That most normal people can think of better ways of spending £250000 but sneering was not a thing I saw?
The thing that is Johnson is a horrible spectre of the worst of humanity.
TITANIC
So some very rich people choose to sate their own egos (at £250000 a shout) and die – and their stories are spread all over the media. yet hundreds die as desperate migrants trying to get a better life. Can we think about these people could have spenbt £250000 more wisely rather than a ghoulish grave watching expedition.
COUNTRY PRESERVING
Things to make this month.
Apricot jam: Apricot chutney: Strawberry Jam: Tomato Preserve: Tomato Sauce: Spiced Cherry Tomatoes: Hungarian Pickled Peppers: Minted Apple Jelly: Piccalilli: Blueberry Jam: Raspberry Jam (frozen fruit?): Dried Herbs: Dark Spicy Mustard: Chilli Oil: Biltong. Looks like I will be busy!
Starting today with dried herbs.