Rip-off News round-up. Our pick of the last week's media (Thu 31st January)

OFT clears oil firms on petrol prices, despite experts' claims that they quickly rise but fall too slowlyCompetition is ‘working well’ at the petrol pump and price rises over the past decade are largely due to increases in tax and the cost of crude oil - and not because of sneaky retailers cashing in - the Office of Fair Trading (OFT) reported this morning. It says it found ‘very limited’ evidence pump prices rise quickly when wholesale prices go up but fall more slowly when it drops. As a result, it will not be launching a full investigation into...

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Government 'Buddy' scheme to give more multinationals access to ministers

The government officially allows big corporates to meet ministers "to improve coordination." The dates of the meetings are publicly available, but what was said is not! Don't worry, Cameron will save us...SOURCE GUARDIAN 'Buddy' scheme to give more multinationals access to ministersThe controversial "strategic relations" initiative was launched in July 2011, giving 38 companies, including oil, telecoms and pharmaceutical giants, a direct line to ministers and officials. That number will now be extended to 80. The 38 companies – more than...

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As Osborne's Austerity (Os-terity) pushed Britain towards a triple-dip recession, differing unemployment rates around Britain show we are not all in it together.

As official GDP data showed Britain flirting with a 'triple dip recession', we take yet another look at whether we are really 'all in this together'. For this post our focus is on how the Tory party's policy of 'austerity' is reflected in the unemployment rates in parliamentary constituencies around the country. Data from a report by the House of Commons Library, released in January 2013, shows that vast swathes of the country have low unemployment. Austerity is not so hard if you have a job. A wage freeze is far less austere than...

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National lottery ticket price to double

Can KJ change Fee's mind?..SOURCE GUARDIAN: National lottery ticket price to doubleCamelot said the payout for the average Saturday jackpot would increase from about £4.1m to £5m. It defended the change, saying that charities, retailers selling tickets and government coffers would all benefit from the price rise. Around 60% of UK adults play the Lotto regularly, and annual sales across the lottery products account for more than £6bn annually. Charities and other good causes get 28% of lottery revenue, while 12% is paid to the Treasury....

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Rip-off News round-up. Our pick of the last week's media (Thu 24th January)

NHS staff crisis: Hospital pays £1,800 a day for agency nurseThe bill for temporary workers has risen by more than 20% in just one year, with private agencies receiving more than seven times the rate paid to nurses on the pay roll. The use of temporary staff has become endemic with almost every trust in the country now relying on private agencies to plug gaps in staffing. The total bill for temporary nurses is set to reach £450 million - a 21% rise on the previous year. Official figures show there are 6,000 fewer nurses working in the NHS since...

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Poll shows 58% think new benefits cap is unfair

Surely Cameron can commission another poll giving a different answer...SOURCE GUARDIAN: ICM asked voters to choose between two views of the chancellor's headline proposal for a 1% cap on benefit rises. Just 36% agreed with the coalition's argument that "squeezing benefits is fair, seeing as wages for workers are also being squeezed", whereas 58% inclined to the case made by the opposition that squeezing benefits and tax credits "is unfair, seeing as it will hurt the vulnerable, including many who people who do work hard for low pay".OUR RELATED...

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How did the FSA miss this? 5 years of "extensive and widespread" misconduct across three continents!

You can tell how much miscreants respect authority by the effort they put in to hiding their misbehaviour. Shoplifters in a well guarded store take great care, preparing themselves with voluminous bags and outer-wear providing space to stuff misappropriated stuff. British prisoners of war took the most elaborate precautions to avoid the notice of their jailers when trying to dig themselves out of prison camps. On the other hand, where the guardians are either incompetent, complicit, don't actually give a damn, or have been ordered to turn...

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Financial Literacy in Schools private member's bill bites the dust

The 18th of January 2013 was the date for the second reading of the Financial Literacy in Schools bill. Being greatly interested in the progress of this bill we invested in a packet of ginger snaps and settled down with a mug of Tetley's to watch Parliament TV.As it turned out this eagerly awaited debate lasted a minute (at 14.02) and would fit into a tweet. We therefore reproduce the debate in its entirety:"Financial Literacy (Curriculum) Bill, Second Reading""Not moved"And so this much heralded legislation seems to have faded away. The time,...

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Tesco beef burgers found to contain 29% horse meat

Chris is suspicious...SOURCE TELEGRAPH: Tesco beef burgers found to contain 29% horse meatHorse meat has been found in burgers on sale in British supermarkets. Tests on beef products sold in Tesco, Lidl, Aldi, Iceland and Dunnes Stores uncovered low levels of the animal’s DNA.OUR RELATED STORIESSupermarket sales tactics may be rip-offs, but they are legal says the Office of Fair Trading“Consumer Protection from Unfair Trading Regulations” - the law that legalises ripping-off in Brit...

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Rip-off News round-up. Our pick of the last week's media (Thu 17th January)

Seven in ten MPs on £65k believe they are underpaidA majority of MPs said they deserve a 32% pay increase to £86,250. The survey by the Parliamentary Standards Authority (Ipsa) also found that more than a third of MPs believe they should keep generous final salary pensions. Unlike in other parts of the public sector, Ipsa is not proposing to introduce performance-related pay, regional pay or to take outside earnings into account. Facing accusations of hypocrisy, the Ipsa chairman Sir Ian Kennedy said his consultation was open to the...

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High street banks teach financial education in schools

It could be formalised by September 2014, but it already happens...SOURCE TELEGRAPH  Disgraced high street banks 'to be welcomed into the classroom to teach children lessons in financial education'Banks included Royal Bank of Scotland, Barclays and Lloyds may be given permission to use branded material and make presentations in English schools from September 2014. Lessons would include calculating the cost of a loan. Teaching unions and campaigners have warned that schools would need to ensure banks did not treat lessons as potential...

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Liebrary: Are the unemployed (a) Skivers and (b) A cause of the ballooning benefits bill? ONS and DWP figures show they are neither.

We are told not to be harsh on bankers because most bankers are not reckless rogues (just the ones in the board rooms and on trading desks). Having crashed the World economy in 2008, the bankers promised to behave better, lend more to businesses, and accept new rules to reduce the risk of them going bust. They didn't behave better (e.g. LIBOR rigging); they screwed businesses (e.g. IRSA scams); and now they have wriggled out of the tighter rules (generous bank lobbying has resulted in liquidity requirements being greatly relaxed). Banking...

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The predatory practices of major accountancy firms

Despite the evidence of fraudulent schemes, no firm has ever been disciplined by any professional accountancy bodyBy Prem Sikka, Professor of Accounting, University of Essex George Osborne's attack on organised tax avoidance is a huge disappointment. Her Majesty's Revenue and Customs (HMRC) is investigating some 41,000 tax avoidance schemes, but there is still no investigation of the industry that designs and markets aggressive tax avoidance schemes.In contrast to the UK, reports by various US Senate committees have been...

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Probation service 'revolution' means wholesale privatisation

KJ, Fee and Chris wonder what will happen if G4S take over...SOURCE: GUARDIAN Probation service 'revolution' means wholesale privatisationThe justice secretary, Chris Grayling, wants the wholesale outsourcing of the probation service. Private companies and voluntary sector organisations will take over the rehabilitation of the majority of offenders by 2015. He denied that it was a quick-fix to save money. The public probation service will be scaled back to deal with only with the most dangerous offenders. The majority of services will...

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