Will the UKs wallets be dry?

Will the UKs wallets be dry?

Over the past couple of years the UK has been struggling and battling to get out of the never ending recession. This recession has resulted in devastating circumstances from 2009 onwards over the years:



The Telegraph

• Unemployment rose by 877,000 from April 2008 to hit 2.49 million in the three months to October 2009.
•  The recession saw a 12-month slump for manufacturers with output down almost 14% year on year at its worst point - the lowest seen since the 17% fall in output in 13 successive months of decline between 1979 and 1980.
• Borrowing is set to hit a record £178 billion in the current financial year - 12.6% of the country's entire output - due to a slump in tax take and higher spending on unemployment benefits and economic stimulus measures.
•  To combat recession the Bank of England slashed interest rates to just 0.5% in March last year - the lowest since the Bank was founded in 1694.

Contrastingly, 2013, near to an end has shown that the UK has successfully mananged to slowly but surely come out of the recession. However 2014 is not promising anything spectacular, but instead warns the economy to prepare for upcoming crisis'.

It has been predicted by the 'Resolution Foundation' that if the UKs interest rate increases up to 3% from 2014-2018, people that use more than half of their disposable income to repay debt will increase from approximately 600,000 to 1.1 million people.

Additionally, although the UKs future may look much more rosy than its former crisis, it is believed that the number of households exposed to debt will double. This is inclusive of mortgages being a prominent factor causing debt.

With this prediction, the UKs wallets will have to prepare for a change in their standards of living!

Bulgarian President Rosen Plevneliev warns Cameron on immigration

It is has come to the attention of the public recently that the coalition government are forming intense restrictions and rules that will stop EU migrants living comfortably in the UK like they have previously done.

The coalition government has suggested that housing benefits should be taken away from EU migrants until they acquire a job, furthermore, it has been proposed that EU migrants should wait 3 months before they receive out of work benefits. 

President of Bulgaria, Mr Plevneliev, suggested that the measures are unnecessary and believes that Britain must stay true to themselves and their legacy as "a great global power that pioneered integration". He believes that the measures proposed are simply moving Britain towards nationalism and nationalism even though politicians believe there have been an influx of migrants at an unacceptable rate.

He added: "Bulgarian people are raising a lot of questions today about the democratic, tolerant and humane British society. Are we in Great Britain today writing a history of a switch to isolation, nationalism and short-term political approaches?

"Of course, Great Britain will make its planning and will take its decisions. But some of them could be right, some of them could be wrong. Some of them are bold and some of them are, I would say, not long-term orientated decisions."

Theresa May from the Home Secretary has suggested that a cap for around 75,000 EU migrants will be necessary for the future whilst Clegg has immediately condemned this suggestion and described it as unnecessary, illegal and unworkable.

It is obvious that although the no entry barrier may be popular in political opinion, however the economic costs of the barrier could have a greater effect.

Nick Clegg has said "are we really that keen to see the back of German lawyers, Dutch accountants or Finnish engineers? Do we want the NHS to fall over and the City of London to grind to a halt?"

The introduction of such tough barriers could possibly lead to the destruction of recovery for the UK as it could lead one step closer to leaving the EU. 

What do you think about the situation? Feel free to post your opinions and views here. Thanks.

Nelson Mandela dies aged 95

The man who spent over 20 years in jail, fighting against the segregation of the races in difficult periods, has now passed away. Nelson Mandela had been recovering from the intensive medical care that he receieved for a lung infection, he spent three months in jail. President Jacob Zuma stated "Although we knew that this day would come, nothing can diminish our sense of a profound and enduring loss". "The Nobel Peace Prize laureate was one of the world's most revered statesmen after preaching reconciliation despite being imprisoned for 27 years." - Adapted from BBC News.Archbishop Desmond Tutu, said he was "not only an amazing gift to humankind, he made South Africans and Africans feel good about being who we are. He made us walk tall. God be praised."It has been stated that Mandela's body will be moved to Pretoria and the funeral should be taking place next Saturday.Let us take the opportunity to show appreciation for the astounding work that Mandela had done during his time in power. His political influence shall always be recognize and he shall never be forgotten. Mandela was an instrumental force in the bridging of the gap between many nations. He had and still has a massive international presence and the world shall continue to celebrate a great life. R.I.P Nelson Mandela.

U.S calls on North Korea to release war veteran

The United States called on North Korea on Saturday to release an elderly U.S. military veteran held in custody since last month and who Pyongyang has accused of killing civilians during the Korean War 60 years ago.

Merrill E. Newman, an 85-year old former special forces officer, is in good health, his family said in a statement after getting an update on his condition from Swedish diplomats who had visited him in the North Korean capital over the weekend.

"He has received the medications that we sent him and medical personnel are checking on his health several times a day. Merrill reports that he is being well treated and that the food is good," the family said. Sweden's North Korean embassy gives consular help to the United States, which has no mission there.

The family, based in California, called on North Korea to release Newman, who has a heart rhythm disorder, as an act of compassion, taking into account his health and his age.

"All of us want this ordeal to end and for the 85 year-old head of our extended family to be with us once more."

Swedish embassy officials were granted access on Saturday to visit Newman, the U.S. State Department said, the first access by Western officials to him since his arrest.

Newman was detained at the end of a trip to communist North Korea, formally known as the Democratic People's Republic of Korea. The DPRK has no diplomatic relations with the United States which fought alongside South Korea in the 1950-53 war.

"Given Mr. Newman's advanced age and health conditions, we urge the DPRK to release Mr. Newman so he may return home and reunite with his family," a State Department official said in a statement.

The White House also urged Newman's release in a brief statement.

On Saturday, North Korea showcased Newman as a criminal, showing a video of him making a full confession and apology as if the battles of the Korean War were still raging.

The state KCNA news agency said Newman had been a mastermind of clandestine operations and confessed to being "guilty of a long list of indelible crimes against DPRK government and Korean people".

'BEG FOR PARDON'

In the patchy video, Newman appears composed and is shown reading aloud from a handwritten statement dated November 9, 2013, in a wood-paneled meeting room. At the end, he bows and places a fingerprint on the document.

"I realize that I cannot be forgiven for my offensives (offenses) but I beg for pardon on my knees by apologizing for my offensives (offenses) sincerely toward the DPRK government and the Korean people and I want not punish me (I wish not to be punished)," Newman was quoted as saying by KCNA.

One of the world's most isolated states, North Korea nourishes memories of the 1950-53 war with South Korea and the United States to keep its impoverished people distracted and the family of founder Kim Il Sung in power. His grandson, Kim Jong Un, is North Korea's current ruler.

It remains technically in a state of war with the South and with the United States because the war ended with a truce, not a peace treaty.

Newman, who lives in a retirement community in Palo Alto, California, was pulled off an Air Koryo flight in North Korea minutes before it was due to depart for Beijing on October 26.

His wife, Lee Newman, told CNN that her husband went to North Korea to "put some closure" on his time during the U.S. military. It was "an important part of his life", she said.

In Pasadena, California, a yellow ribbon was attached to the front door of Jeff Newman, Merrill Newman's son, as a symbol the family was waiting for his return home.

During the war, Merrill Newman trained a group of partisan fighters known as the 'Kuwol Regiment', or 'Kuwolsan' in Korean, according to a former member of that regiment.

It was one of many groups of anti-communist partisans under the command of the U.S. Army 8240th Unit, nicknamed the 'White Tigers', which co-ordinated some of the most daring missions of the Korean War, embedding undercover agents deep in enemy territory and spying on and disrupting North Korean wartime operations, according to documented histories of the regiment.

"He is a criminal as he masterminded espionage and subversive activities against the DPRK and in this course he was involved in killings of service personnel of the Korean People's Army and innocent civilians," KCNA said.

Newman, in his statement carried by KCNA, said he trained men in guerrilla warfare against the North, including how to sabotage communications and transport lines.

Public documents in South Korea and the United States show U.S. officers worked as advisers to groups of anti-communist partisans during the Korean War. The conflict pitted the Communist North, backed by China and the Soviet Union, against the republican South, backed by the United States.

KCNA gave no indication of what might happen to Newman.

After the war, Newman worked as a manufacturing and business executive before retiring in 1984, according to a biography of him in a February 2012 newsletter from Channing House, his retirement home.

North Korea is also holding another American, Christian missionary Kenneth Bae of Korean decent, arrested last year and sentenced in May to 15 years of hard labor on charges of committing hostile acts against the state. The White House also expressed concern for Bae and renewed its call for his release on Saturday.

Adapted from Reuters