
Debunking the banking lobby’s scare tactics
The complete separation of retail and investment banking is an urgent prerequisite for future sustainable growth, not a reason to delay it, writes Compass’s Joe Cox.

The complete separation of retail and investment banking is an urgent prerequisite for future sustainable growth, not a reason to delay it, writes Compass’s Joe Cox.

The News of the World phone hacking scandal plumbed new depths last night, with the news Sara Payne’s phone had been targeted, reports Shamik Das.

A report to “produce a feasible set of reforms that deal with the economic crisis in an alternative way” is being drawn up by a group of progressive think tanks.

There is a sound argument to try to support greater mobility in social housing – only five per cent of social tenants moved home over the past year compared to almost a quarter of tenants in the private sector, though it is unclear what an ‘optimal’ level would be. It is also important to emphasise that it is councils and housing associations that will decide the length of tenancies, so the key question is how they will use their new freedoms.

The Women’s Income Network (WIN) is a network of charities, MPs and individuals who have come together in order to construct an informed and unified response to each and every cut which will disproportionately affect women in the coming months and years. From the Fawcett Society to The Child Poverty Action Group, each participating organisation is working independently to protect those who will be disadvantaged by the coalition’s cuts.

Echoing his plea in yesterday’s Daily Mirror for conscionable Lib Dems to help Labour crush the worst cuts, Ed Miliband told the Scottish Labour conference: “A week from Tuesday we will force a vote in the House of Commons on housing benefit. Our appeal is to all MPs of conscience. Join us, vote against these unfair and unworkable changes and force the government to think again.”

Welfare systems need to address two different types of situation faced by working age households. They need to provide short-to-medium term support for living costs in response to labour market fluctuations and frictional unemployment; and longer term support for those who are without a market income for extended periods (in practice many households are located on a continuum between these two poles).

Britain does not have a “bloated welfare” system despite George Osborne’s rhetoric. The truth is that welfare spending is lower than at any time from 1979 to 1997.

So far we have few details, and all that has been confirmed by the Department for Work and Pensions is that there will be a green paper – the most tentative form of government policy statement – before Christmas.

Over the last fortnight it has become clear: the govt. is planning a wholesale assault on universalism; should we defend the middle class welfare state or not?