18 Burst results for "George Osborne"
"george osborne" Discussed on The Red Box Politics Podcast
"Polls it there. I mean is interested in the politics of this. I mean the labor clearly hoped this would gather that party. Someone really thought this is going to be the big row. When we came back in september this was going to sort of build up and build up and in the end wishy soon out will be forced into a u-turn. And that just doesn't feel about where we are and the reason for that politically is an answer. The the the the dividing line barstools is trying to drool that between control and uncontrolled beats spending or migration in this case spending I think i was saying last week on this. Very program that richie. Soon knox Approach to the public finances sort of retail politician is he thinks the most important thing for the conservative party is to be able to tell the public how they are paying for it even though an economists will tell you it's not that simple and they gumbel aids politically that the public in twenty twenty four or sooner will credit them with a high degree of economic competence than the labor party regardless of the impact on the wallet. And it's interesting But we say about labor anticipating. This will be a big row. It sort of been superseded on the same turf by the national short travel. That's not say ministers aren't worried this might cohen bite them down. The line is interesting because we did some polling on this. You go to some polling on this week or so ago. Beginning september to ask what people thought about whether or not the expert panel should be made permanent at that point. Thirty eight percents said the extra twenty passerby permanent another eighteen percent said it should come to an end but not yet and only twenty nine percent supposed to coming to an end next month although among when you do the party breakdown forty five percent of tory voters said it come to the next month or ten percent labor voters twenty. Seven percents of lib. Dem's big remain leaves. Nineteen percent of a main is forty one percent of levers in just in the a bit of a gender divide is thirty one percent of men said it should come next month and twenty six percent of women younger people but far less likely to support it than than older people so so there is just across boss suppose politically having not really built a sort of campaign over the summit becomes an explosive moment. The party in a way. The ashley limit this happened in twenty three in two thousand fifteen hundred fifteen election with the working touch credit. She's that became a big thing. And some of those newly elected toy. Mp's pays in two thousand fifteen actually did cause quite stir. Heidi audio yeah. That's sunny became a problem with the totally party George osborne and that actually actually played a bit sort of fed to in some of the debate and one of the referendum which is why staging reshuffle when these big political questions would otherwise be being chewed over is apart from anything else. I don't want to say good politics. Adroit politics it's on the bourgeoisie. Wishy soon ac pretty patel is there. Jacob mortgage their jack. The scottish secretaries their lease trust is there but yeah no sign of voire when the phone bench pretty having a laugh about something he's dominate puddle building but to issue. Let's go back to the house question before from kiss donna. Let's test that right now. We pat three questions and the price of one of them on. It's obvious what the truth is that these low were his convert longer hours to get back the money the prime minister cutting them he knows it. They know it. Millions of working families will be hit hard very hard by the prime minister's universal credit cut and the reason prime minister the reason prime minister is this. Why would they have to work an extra nine hours. Nine hours a full day every week to get that twenty pounds back. it's because of his broken tax system. He's just sit. How good it is. So let's test it off his national insurance rise for every extra pound for every extra pound that these workers earn his couple will take more than seventy five pence.
"george osborne" Discussed on The Red Box Politics Podcast
"A couple of months ago <Speech_Male> now they want to have a vision <Speech_Male> for the future <Speech_Male> going to do about the future <Speech_Male> facing this <Speech_Male> conservative party which <Speech_Male> is not the <Speech_Male> austerity party <Speech_Male> of <Speech_Male> george osborne. 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An <Speech_Male> hour i think is <Speech_Male> that the labor party is still fighting <Speech_Male> amongst itself. <Speech_Male> The <Speech_Male> we are <Speech_Male> fox. So far from <Speech_Male> the labor party the <Speech_Male> wings of andrew donors <Speech_Male> and james midway <Speech_Male> agreeing on basically <Speech_Male> anything still <Speech_Male> squabbling about the people's <Speech_Male> vote or <Speech_Male> two thousand five <Speech_Male> nine hundred ninety seven. <Speech_Male> <Speech_Male> The <Speech_Male> kids tom who isn't even <Speech_Male> the most interesting <SpeakerChange> voice <Speech_Male> of the low us <Speech_Male> totally. And i think that's <Speech_Male> the thing he has to do <Speech_Male> at this conference. Beach <Speech_Male> really is to try and draw <Speech_Male> a line under <Speech_Male> this factional infighting <Speech_Male> and just take <Speech_Male> hold. You know he's got a <Speech_Male> big mandate to <Speech_Male> be labeled. He's got <Speech_Male> a shadow cabinet <Speech_Male> behind him. The parliamentary <Speech_Male> labour party <Speech_Male> are behind. She <Speech_Male> needs to seize on that. <Speech_Male> And i think not common from <Speech_Male> your listeners. Right mad <Speech_Male> that kiss <Speech_Male> came into politics <Speech_Male> quite late in life <Speech_Male> in twenty fifty and he'd <Speech_Male> been a lawyer <Speech_Male> and public seven <Speech_Male> for many years before <Speech_Male> that. Unlike tony <Speech_Male> blair and <Speech_Male> i think andrew dunes <Speech_Male> comments really interesting <Speech_Male> blair <Speech_Male> was of that moment. He <Speech_Male> was of ninety seven <Speech_Male> to two thousand <Speech_Male> seven <Speech_Male> at it would be fascinating <Speech_Male> to see if he did <Speech_Male> go back to sedgefield <Speech_Male> and could win it. <Speech_Male> It will be quite <Speech_Male> the political comeback. <Speech_Male> But you <Speech_Male> have to think what <Speech_Male> was relevant than <Speech_Male> might not be relevant <Speech_Male> now and the same with jeremy <Speech_Male> corbyn near. This <Speech_Male> is a different moment in <Speech_Male> the post. Brexit post <Speech_Male> cova. <Speech_Male> And that's where he needs <Speech_Male> to think about <Speech_Male> hockey too much <Speech_Male> backwards because <Speech_Male> <Advertisement> otherwise we'll be <Speech_Male> <Advertisement> having this same argument <Speech_Male> <Advertisement> in <SpeakerChange> twenty twenty <Speech_Music_Male> <Advertisement> four <Speech_Music_Male> <Advertisement> so we've
"george osborne" Discussed on FT Politics
"Ever welcome back to the podcast. So what did you make of such javed's appointment to place hancock. He was maybe not the most obvious choice for health secretary and is automated quite clear that he views the vote and a slightly different way. Well i think perhaps one of the most fascinating things about him is that he is a former chancellor and of course. The treasury has long been very very skeptical about all the billions that it has to give to the nhs. It's been very dubious for many many years that it actually gets value for money from that spending said the idea that now the new health secretary who's being pitched straight into a very consequential treasury spending review in the autumn is likely to come from background which could make him take very skeptical view of the money. The nhs needs. But i think the counterweight to that is that in almost every department. He's headed in the past. He has managed to get significantly enhanced settlements so he is douty negotiator. But it's intriguing to have somebody who comes from a perspective that could lead to him being a slightly skeptical of the value of that spending in the national health service. What was famously. It's great to have you back. As always i find jared particularly fascinating figure in tory politics because he began his journey on the thatcherite. Right in was very very early. You a skeptic in the late eighties and nineteen ninety s and he went off to working financing. He entered parliament in twenty ten when he was a plus j of george osborne and he was famously. Nudged by george oswald into backing remain even though his political instincts may be more greg city. But that doesn't seem to have hampered his career and of course he was unceremoniously ejected from government after falling out with dominic. Cummings last year and is now back again and he seems to have. A dose abysmal libertarian instinct. So far i think he has been on for the last surviving. Protege of georgia's ball now. And i think he's he's been benefited by falling out. So spectacularly with dominic cummings. Because he's he's he speaks to a different group in the ball she now i think he's been on a bit of a journey. Himself and part of that journey has been in the departments. That he's been he's been in departments that all interventionist where you do have to spend money where the government has to get involved and where you can see the benefits of doing. But i do one point agreed with sarah identity. He's lost his essential fiscal boxy. And i think one of the things that's gonna be interesting to see whether he actually allies with wishy sunai rolling gets into a fight with him because or is johnson. Roll the hopes. I think that having someone such javid in health will lead to a strong voice for more health funds and all his backgrounds jesse rubies from pfizer mohel funds. But i think what he will also be. Somebody recognizes the soon. I call that you have to pay for this. And so therefore what. I think you might well see. Is the two of them working together to say yes. We have more money in. And yes we have to fund it a to sarah's point that he's a veteran talking treasury language and therefore he'll be bettered seeing whether weak spots in the healthcare. Shaw have obviously when before we get into the wider questions about where the health services going next. The most immediate is about the easing of kona virus restrictions on july nineteenth and even before javid came into the department for how it was pretty clear that the government was in a direction that all cabinet mrs. I've spoken to over the past couple of weeks of said. There is no plausible reason. We won't go ahead with his final easing on july. The nineteenth but it was quite striking is first day walking department for health this week. He said i want to get back to normal life as soon as possible. End these restrictions which is rhetorically they different from where my hand which was about being cautious about saving lives and it does suggest that within that cool quote of government that makes these decisions. Which is boris johnson. Richie soon sante javid. And michael gov the balances definitely shifted towards at the lockdown doves as opposed to the hoax. Yes absolutely so. The pro lockdown lifting faction has obviously acquired another very powerful voice. I thought it was interesting actually this week that the prospect of a campaign of booster corona virus shots was announced and javaid put out a statement. Really sort of quite bullish that this was going to be the way that we were going to allow normal life to return the so he clearly is absolutely focused in everything he does practically as well as rhetorically on insuring that the july the nineteenth lifting can go ahead and that all the emphasis now is put on living with corona virus. That this is going to be something that the british state is going to have to adapt to invest money in but ultimately the era of lockdowns is over a robert. You're fascinating column this week. About what his relationship with vichy sue knock is going to be like and of course when such off it was chancellor she soon acquis his chief sector the treasury and there was a you know there was a clear creative tension. Shall we say between the two that one of the reasons that bushels brought job at by the cabinet was concerns in his inner circle. They do need to balance out. she soon. Next growing power baseness respect within the party. Because you never want to obvious era power but instead of being potential foes or clashing. You've picked up a sense that it could be the opposite. Padam could work together with the social crisis in mind. Yeah there are two different forces of play hit. The first is the need to be a good departmental minister and work with the reality on the ground and even in Everything sarah just said but even within his general instinct you have to work with the facts as they exist and how the health pandemic developed over the next few months. But i think what you have is the fact that the two of them that soon i can get home. They you like each other. And it was obvious even off he'd cease to be chancellor the stretch jagged had quite good links into the treasury. Still the tuten don't have to fight is not an interest to be fighting. It's actually much more than just to work together. And unless the treasury's incredibly obstructive which in history tells us perfectly capable of being there is an obvious paul for them to head down in which resources for health service provided but they also painful. And i think the two of them could quite easily go to johnson and say look. This is what we've agreed this what we need. This is the tax measure. This is the spending out that we have to agree to fund this. The truth is the country one case you can take to the country at the moment. It is the case for more spending on health that is not a hall sell even even in the current climate so it seems to me. There's the lot of scope for them to work together and temperament i think they will want to on the final area example that i think is while he was on the benches such chevy was thinking about the funding of public services and i know that he was attracted to the idea of a social can levy a new tax effectively all very similar to in kentucky insurance pay full by the people who are over forty so he's already been thinking about ways you can find extra funds for health and in particular for social care and of course we shouldn't forget the health service is about to go through a massive shakeup that following the pandemic matt..
"george osborne" Discussed on Heartland Newsfeed Radio Network
"Acted upon we were told that again and again and again by David Cameron Marin was then the prime minister three plus years later. We're still in the European Union. We haven't left and it looks increasingly like we won't leave so there is now talk of having a second referendum. There is now talk of simply overriding the vote. There was talk of parliament using his power to deprive live the public of the thing that they voted for and simply preventing it from happening. I think if that happens it will be it will be an apple. It will be a <hes> really key event in the history of of Britain because what it will say is that we are no longer really a democratic nation. We are no longer really a democracy democracy. Were no longer a nation that take seriously ordinary people think so. I think a lot of people across the Western world really should be keeping a close eye on brexit because if if Brexit doesn't happen then the whole nature of democracy the whole democratic era which is only existed for a few hundred years. We'll be called into question because basically at that I point plenty of other Western leaders who might have some authoritarian tendencies might go well. It doesn't really matter if I win or lose an election because look what happened over there doc delay and delay and delay Lov enough until the people either start flipping where we can make up enough lies or demonize enough people then that's right congrats to me. I'm still in power. That's that's right and you know a lot of people used to look to the United Kingdom for a democratic example and I was thinking about this recent. It was recently the thirtieth anniversary three of the Tiananmen Square massacre when you had hundreds of thousands of Chinese citizens on the streets of Beijing and across China in fact demanding democratic rights rides demanding the right to freedom demand the right to choose their government a very basic people that you and I take for granted which people in China don't have and when that massacre happened thirty years ago in nineteen thousand nine British Democrats British liberals British humanists were talking about it all the time they were fully in favor of these people who are struggling for the right to democracy to for the right to a democratic say in their lives and in their communities on the thirtieth teeth anniversary however there was a real sense of silence a lot of British liberals would normally have made a big fuss about Tiananmen Square massacre and the and the authoritarianism of the Chinese unease regime didn't say anything and I was thinking about this and I thought okay this makes sense because you are now on the same side as the Chinese regime and that's not to say yeah you're GONNA drive tanks into trial square like the Chinese regime did into Tiananmen Square massacre people kill people but you on the same side in the sense sense that you think democracy is overrated. You think people shouldn't have a free fair say in how their community or their society is organized and I thought that silence is think point is absolutely right there are so many people around the world who looked to the UK and to other Western nations NHS America to for an example of people having a real say in how their lights are organized who now will no longer do that and you have foreign regimes around the world who will look at the really right and they'll see that there are a members of parliament and government officials who are hell bent on over over riding the largest democratic vote in the history of our country and those regimes will say. Let's do the same thing so let's just break down a little of the chronology of this whole thing thing so so the vote is about two years ago you said June of Two Thousand Sixteen Twenty Sixteenth Yeah and then how soon were things supposed to be in motion straightaway. It was supposed to happen very very quickly and David Cameron who was Prime Minister and George Osborne who was the chancellor of the executor. He was the <hes> in charge of the economy. These two figures who were the leading figures in the in the United Kingdom argued that it would happen straight away we will listen to you will act upon what you say. We will do it right off the bat so everyone was expecting that would happen. In a matter of weeks or months a <hes> and people went to the ballot box with that view in mind.
"george osborne" Discussed on Bloomberg Radio New York
"Six one to San Francisco nine sixty and around the globe but this is a great call this is Bloomberg daybreak very good morning at six thirty AM here in London emerging here hello I'm Caroline had K. using to pay back a day break year of of what we take the markets for you every fifteen minutes it's a pretty low volumes in Asia but we do see Stokes said dropping to take the the topics down six tenths of one percent the SX two hundred in Australia we can eight tenths of one percent has some rebound now I on the Shanghai call now on the CSI three hundred that was heading Hodges the tenth of one percent we did see if because president Donald Trump saying that he's not ready to make a deal with China so more kind of daily commentary on the US China trade war so that a soul Japanese stocks declined for example treasury yields this morning taking higher of course in the week of the Jackson Hole what by two and a half basis points for the ten year one point five eight percent in the US Jenny will be selling a thirty year bond at a no percent coupon for the first time later on Wednesday under terms of Italian yields one point three seven percent is where we are close yesterday on the ten year I see I tallied bones rallied yesterday know all that much impact it at the end of the day on the foot see may be off the order of the Italian politics and the resignation of the prime minister save more Italian politics who it was expecting as for sterling I've been on quite a bit of volatility at the moment we are fairly flat though the British pound is down attentive once at one spot twenty one and all that she had a high the weekly American petroleum institute report showing US creativity's actually fell for the first time in three weeks it is the market right well let's have a look at what's on the Bloomberg daybreak because of the new customer terminals renewal in use you need to start your day we can get a check of top headlines with a break at the Christine book live from to buying a Christine it's interesting that your affecting this morning on ways in which wraps British businesspeople who might grow concerned about breaks it might have a little old reason to be slightly more happy and the government seems to be moving into a let's go with this that actually do something concrete even ahead of October thirty first yeah that's right so at the treasury has said that the U. eight the U. K. at tax authority is going to automatically enroll more than eighty eight thousand U. K. companies in a key customs union over the next couple of weeks so that they can trade with the European Union after the October thirty first brexit deadline but now if these companies a warrant enrolled in the program which the program just assigns them this identification number they were enrolled in this than they would be out in the cold come November and wouldn't be able to trade with the European Union until now all companies had to take it upon themselves to to register so at least this will remove some of the pressure on those companies that are going to be included of course the program does not include every company in the U. K. so there will still be many that need to go out there and do their due diligence but at least this is some form of concrete action that signals the U. K. is always trying to get ready for various scenarios yeah indeed I mean women could cause problems together they say you know there's not a lot of time as you say it's only the V. A. T. registered funds he will be included but look we also have some all that you can use that is quite interesting the boys Johnson once the former finance minister the former chancellor George olds born taxi lead the IMF unease is trying to get some very big plus to support him yeah that's right so Boris Johnson is according to sources I spoke to Bloomberg on the U. K. prime minister plans to use G. seven meetings this weekend to try and drum up support for George Osborne as a candidate to take over from Christine Lagarde at the I MF because more and is currently the editor of the evening standard he was previously chancel chancellor of the exchequer from two thousand ten two thousand sixteen under it David Cameron I'm so I guess we'll see if Johnson can get any support I mean he's going to be trying to woo support away from the E. U.'s candidate something that may prove to be a bit difficult I would be too cynical suggests that the evening standard support for Boris Johnson the Conservative Party election of course nothing to do with it right so let's move on to what little trumps been talking about because we had a barrel of provocative talk mainly on Twitter cools China G. seven European auto tires even Greenland coming up in this Kristin yeah chop always seems to go things to talk about is that he there's no shortage of colorful commentary coming from the US president on the topic of China basically what we are come say he he double down on so called city me over the weekend saying again that he's not yet ready to do a deal with China interestingly he also called for Russia to be readmitted to the G. seven and twenty twenty and that was something that was actually hours later backed by French president Emmanuel macron and then green land you mentioned that's a rather interesting one trump actually said that he's going to delay in meeting with Denmark's prime minister because she said that she has no interest in discussing a purchase of green land I remember earlier this week trump floated the idea of buying green land and there were some reports saying he was trying to line up I'm some deal makers to do a deal that in his view would ease Denmark's financial burden now Denmark doesn't really seem to be interested in that and so now trump is responding saying will then look we're not going to be if you next month because we're supposed to so yeah see all these outside things coming into play yeah I'm quite a radical response was something that was sort of never on the agenda I think I'm also I know that there's been a massive increase in the number of tweets that the president's been putting out about the fed so we get it pops put that to some of our guests a bit later on you know all the market is more influence so they not discounting given the number of tweets that the president sends out on that do it divest topics that he hits I'm thank you so much to Christy but David as of its own is live from the boy for the new CD to start your day provide customers can access they break by talking DA why be on the playback terminal well now let's get laced in global news his Bloomberg Sundar came off and of course under you.
Boris Johnson poised to nominate old pal and ex-Chancellor George Osborne as British candidate for the IMF
"The boys Johnson once the former finance minister the former chancellor George olds born taxi lead the IMF unease is trying to get some very big plus to support him yeah that's right so Boris Johnson is according to sources I spoke to Bloomberg on the U. K. prime minister plans to use G. seven meetings this weekend to try and drum up support for George Osborne as a candidate to take over from Christine Lagarde at the I MF because more and is currently the editor of the evening standard he was previously chancel chancellor of the exchequer from two thousand ten two thousand sixteen under it David Cameron I'm so I guess we'll see if Johnson can get any support I mean he's going to be trying to woo support away from the E. U.'s candidate something that may prove to be a bit difficult I would be too cynical suggests that the evening standard support for Boris Johnson the Conservative Party election of course
"george osborne" Discussed on Bloomberg Radio New York
"Interactive brokers studio Hallo Friday. Here is your price action on the cusp of a long weekend. Let's get started shall we future positive eighteen points on here? Impeach five hundred positive six tenths of one percent yesterday. The story new lows for ten year yield two year yields thirty years on the year so far yields on a session by a basis points at two thirty three hundred ten year on a two year we are up two basis points to two point one six two percent in the FX market shape with things as follows Donna weaker yesterday. We were again today, the Europe by almost they tenth of one percent, and even sterling catching a bit of a bid a little bit more on this a little bit later cable by three tenths of one percent. The story of the last twenty four rows, though, that monster bond market rally driving yields across the curve through the lows of the year. The epicenter of this rally not trade concerns, not growth in China Europe, but uncertainty here in the US as a reduced manufacturing dropped to the lowest level in nine years. Joining us here in New York state wanted Citi, private Bank, global chief investment strategist good morning morning. Let's talk about the United States. Was so much concern about everywhere else. Now, there's just a little bit more anxiety relatively speaking as to what is happening here in the United States. Your use Steve well the three point two percent growth rate of GDP that you saw the first quarter is probably the weakest three two I've ever seen. We had slowing investment down consumer durable spending a decline in housing investment. And basically, we are in a year post tax cut where we should be seeing some slowing now I think that the turn of the year, economic data were incredibly weak, and we've rebounded some from that. But we will have a slower growth year than two thousand eighteen and that needs to be understood by by investors. We probably don't wanna take any big chances here with shocks with yield curve in bird. So looking at the data, the new orders pump the new orders component of the contracting you saying, we're experiencing cares. Inventory overhang from the last compliments work on through. A little bit. There was a strong inventory. Component gain in the first quarter of the year. I think that underlying all of this consumer demand is not immediately week. It's not so unusual. But there's nothing dramatic coming around here on the demand side of the American economy and less. We push some of the levers down and those lever could be financial conditions credit. Fortunately enough, we moved away from some of those shocks. I have no doubt that the American economy continue to grow through the year. But we have a few places to avoid that's great. And you've got an institutional message whereas like remain common stay invested. I get all that. The fact is in the last number of days, even weeks here and then over there and then over there, we've seen, discreet economic data which shows substantial slow maybe it's Korea exports this, that or the other thing are you looking idiocy. Critic signal data points for concern or is it a manageable slowdown where I stay invested with confidence? So it's really an issue of regime and James Bowie. What do you mean? Well, what I mean by that, is that the, there are certain data points that we used to see whether or not, we've sort of broken the current cycle things like a blending availability. So the strength at which begs are willing to lend to consumers, and businesses financial conditions credit markets. These true leading indicators like the yield curve, those things matter and the pace at which production looks relative demand is telling us what's going on right now in the economy? So yes, we will slow down from three percent growth rate in the first quarter of the year in the United States. China's six four was going to have some difficulty. Particularly on the, the export side and those are issues about sort of the pace of growth, but you're still talking. About a pace of growth, you're not talking about breaking the expansion, and we were at risk of that for the first time since the global financial crisis, you know, at the end of last year. I think we moved away from that, that risk. And so the US economy is going to grow two to three percent. Literally every year unless it's negative to unless it's a recession and, despite the fact that we've had this big rally in the treasury market, I think recession would depend on making some significant policy mistakes here stave overwhelmingly. There is a consensus view that the US outperforms one of the risks round that very, very consensus view through twenty nine hundred for example, we're underweight small-cap US stocks. You know, they've had the best performance of any asset class, any major asset class over the last decade, they have more leverage, balance-sheets Schorr, valuations of come down some, but the whole notion that the American economy can grow as rapidly as it did from deep. Depressed state ten years. Ago is a mistaken view in my point of view now, is it time to invest everywhere else, where valuations are much lower and business cycles or less progressed. Particularly emerging markets. The time will come. We are optimists certainly in the long run view. But we've got to get through this period of strength in the US dollar and the risks that the United States poses to those very markets themselves. So a client comes to you in the last couple of days, and they all cheat. They pose the dilemma the invested. I want to be present for the outcome and prepare for the worst to it's really important if we simply took the best twenty days out of each of the last two decades and say you know what will time markets, but we're not we actually missed. Just simply the best twenty days out of a decade. You turn the best performing asset class equities into a negative return asset class. That's how severe the problem of market. Timing is so what do we do? We combine fixed income where we're overweight short duration. US fixed income in particular, and you could make an argument again, we're fully fully waited long ration-. But if you put bonds and stocks together your -bility to endore retrenchments in the markets, as much, much better, folks, you just heard there is the insight of the week. It is so important, we're going to do it again. Brought to you by capital, guardian. Trust company, Los Angeles, the investment company of America in a decade, if you go to cash, and you miss, how many days just twenty twenty days out of three thousand six hundred fifty days, rubbish, you do what to return you go from a solid high single digit return to a small negative return in US equities, again fantastic best performance glass of the last two decades, you would have still had a negative return. So that's the problem is that when the biggest gains and losses in markets are clustered together. The market drops. You're worried about more you sell out, and then the market rebounds because they're very closely clustered together. I can't convey, John. How important literally business capital group Los Angeles was built on what Mr. whiting just said, stay wanting rights, have you on the program. Regardless moaning. Stephen wakened. Thank you Citi. Private Bank, global chief investment strategist good teams decay morning news. This motion of the prime minister, fritzy was quite moved, as you get emotional. Moan ix? What was it like for you? I mean did you grow up with prime ministers resigning we've grown up with prime ministers? Get now get this reminds me of chill might just never connected with the papal just never can I disagree with that? And again compared to nineteen ninety two because sterling on a trade-weighted basis is very major like, right? I don't think you should ever underestimate the importance of connecting emotionally with the electric, and Joe Manchin America, and premise as never done that I do that. I think an interesting candidate because many that might believe within the conservative party that he would be the one to connect with the Electra in a way that she could not. But ultimately, we look back at what two and a half three years of biggest mistake. Tom be election. Cola 2017 it was just the big. I remember you. You're everything everything subsequently. It's just been defined by that needing to please the people propping. Of that. So she's in power Cameron's out. She's in she's got his show what she chooses to go for an election to get an even bigger majority minority and becomes a minority in these the support of the day, you pay, and that ultimately has defined her whole legacy as the prime minister you the same question. We prepare some thank you so much with George Osborne. His perspective. Dr Farrow, when you look at this, we'll do just assume the new government will be a minority government in his constrained as prime minister sunny, what the polls indicate some of got no idea what the future holds because elections have been so difficult to predict I think whoever takes from prime minister may does not have an easy job, which makes the sterling small questionable a best Cavo won't twenty six seventy seven and a quarter of one percent. Did you get your hotel room in Madrid? I know my. You can on the floor of my room and they saw it looked to the room for thousand bucks a night, that have no windows, the kayeli. Well, there's that as well. And in the president onto Ireland is scheduled, this is Bloomberg. Enough is in New York City here his mock. Oh, BOK mornings. Good morning, John and has been talking about this morning after months of speculation, British Prime Minister Theresa may announce today that she would be stepping down.
"george osborne" Discussed on WAFS Biz 1190
"That's state of the Brexit story and sources, tell Bloomberg Theresa May is facing pressure to quit as prime minister within days. That's after a desperate final gamble to get her Brexit deal to parliament. Let's get to Anna Edwards. She's in London, and a good to see you as always. So what did may actually offer the MP's? It's a contingent proposition. Isn't it? yeah absolutely they get morning tee manet's and whether they liked that contingency is a big question so what she offered in his father hastily organized event yesterday is too big things wanted she opened m._p.'s votes on the second referendum whether to hold one or not and he also offer them a temporary customs union we they compulsion need to find a solution to the irish backstop questioned by a set date the problem is that nobody seems to really be listening to her at the moment and she's managed once again to many sides in the brexit debate and there are many and also to illustrate how difficult it is to find a compromise and it seems to have angered the tory rights and it seems to seem don't entirely convincing how seems nonni easy to see sorry how those who wants a second referendum would be able to live with this contingency because she says you have to vote for her withdrawal agreement bill in order to get the second referendum when full-time lucky whether she just wants to get a deal through whether she holds voter tool big question It's been a real struggle for FX traders to get the cable to move significantly out of range. We started overnight again, the bigger question, though, is, how soon is the prime minister actually going to leave because of the past. She said that, that departure could happen relatively soon. yeah absolutely and it could even sooner than soon he said because she'd previously said she'd bring these vote for a in early june and then she talked about leaving and she said this to her and that she sat down the road map for her departure but now it seems that we understand as you said introduction that she is the pressure from those in her party to go within days and it's not really a big surprise as to why whether she'll be able to to to laugh as long as the first week of gene is a big question she's been cooled though a dead woman walking famously by george osborne format u._k. chancellor before but now we all wait to see whether she will council vote but does look as if he's going to be very difficult for her to get her deal through she's on depression from what what kind of pressure will she come on from the chief whip within her party and from colleagues as you say we understand bloomberg that she is under this pressure to go and if she isn't going to bring her in the beginning of june what reason is that to stay to add extra excitements of course we have the euro Elections, taking place tomorrow and over the weekend. In other countries to take place in the UK tomorrow, if the conservancy policy do as badly as the polls suggest that will be just another reason for her to be on the pressure tonight in the date. Well, honestly is also noticed half laundries as well. So you know what we do this on almost weekly basis? There's great poll this morning from all it. We're gonna put it into the GDP library on. And this is a bars for pm thirty-five percent probability of Boris. Johnson being the P m Jeremy Corbyn, a point seven one percent Dominic Robb on a sixteen percent. So all roads, lead to Boris on the old checker. Yeah, indeed. I mean it's interesting because the process as though that they have to the MP's have to narrow the list of to re policy contenders is a big list at the moment, not official. But it's it looks it'll be a biggest, they have to narrow it down to the final two, and then the final to get put to the members of the conservative party. So if Boris managed to get into the final to the old suggests he voted for by the posse. He'll have to say. Thank you very much for that round up at Edwards, live from London. It's also get you of a snapshot of what's coming up Bloomberg size and scope today's.
"george osborne" Discussed on FT Banking Weekly
"The director of the FA that in the PR as view, a criminal charge could represent a safety and soundness issue for the Bank. So it could ultimately way on its ability to fund itself and its capital levels. He said he was meeting Sedav it's to assist in weighing up the public interest, and that's important because each time the director of the SF. Oh has to come to charging decision. He not only has to weigh up how much evidence there is. But also, whether it's in the public interest to actually charge an individual or entity. So the reason why this is particularly important is that it comes ofter. There have been various other attempts by the UK government or other UK authorities to try and plead, the case for banks and for prosecutors to ultimately go easy on them. If you remember back in twenty twelve George Osborne. The chancellor rate to Ben banenky of the fed in the US asking unions in the case of HSBC, and it separate money laundering investigation. So I think the question is really about whether there are still concerns eleven years after the onset of the financial crisis as to whether some big banks are alternately too big to jail. And there's obviously the question of the independence of the SF was well, I think we should also point out is the ultimate the FA went ahead and charged Barclay's regardless, and the Shep price hardly moved, and ultimately the. PRA's concerns want born out the Bank was perfectly able to withstand the charge and last year. In fact, those corporate charges were ultimately scrubbed against the Bank. So it hasn't had to face a jury trial or anything like that. Yes. Of course and just to bring people up today on the other Barclays legal issue that's out there. This is the case brought against for former bankers at the institution reminders. What's happened there? Yes, say the at the same time in two thousand seventeen charged the banks CEO at the time, John Varley and three other top bankers at the time. All I can say on that. Is that Mr Justice j dismissed a jury in much, okay? We will keep watching. Thank you very much Carlin. Well, let's move on to our second story and a look at the foreign exchange manipulation story. This is a long running tale. Goes back several years. Stephen when we saw a lot of banks punished, particularly by the US authorities, and by the UK authorities over the manipulation of FX rates last week, though we saw the EU sororities joined the party, what exactly has happened. Well on the back of five point three billion dollars worth of fines few years ago. He said from British and American authorities. Now, the ease competition watchdog is find five banks one billion euros. The one worst hit was city group, which had three hundred eleven million, but there was also obvious J, P Morgan, Barclays, and Japanese Bank, MU f g involved interesting UBS manage to escape his own almost three hundred million euro fine by a centrally flagging. This chat room to a thorough season by acting as a whistle blower. In this case, you talk about a chat room is that, basically, what this all because back to the same accusations as the American new Catherine exactly trade. Is that the five banks, I mentioned, they all participated in chat rooms with amusing name such as the three way banana split and the Essex express, basically colluding, because these banks were so large and powerful and currency markets. They could collude to move prices by tiny amounts which result in more prophets, more earnings for specific. Trade is on the desk. And of course, all of this was recorded on the Bloomberg terminal where they participated on it, and therefore they were caught out pretty easily come back to you in a minute, because there is one of the Bank, I won't to talk to let me bring in Lambros calumniates from PC as a lawyer. What's your impression is why this has happened? Now is many years since the US and UK authorities went after this scam. Well, I point to know these these has been and continues to be a very complex investigation by the commission involving number of banks and large. Looms of data going back in years as we've heard all of these starbuck into housing and thirteen when UBS winning and apply for immunity. Obviously decisions announced last week..
"george osborne" Discussed on Bloomberg Radio New York
"I want to look back five things you need to know. And what you need to know. Is it John Farrell? I think was live on air for eighteen hours straight the morning after Brexit remember walking through our London studios. John, and we are all in shock from ten PM the night before where were you when you knew Brexit Brexit, actually lying in bed. And so somebody. Results come in in the middle of the night. And you've got a real could feel. But what was interesting catching up with some and Nigel Ferrara's people in the days before they seemed really confident interesting and not just not just in a way that would suggest they've got a sort of shout about their own course. But in a way that felt like the mood was turning into towards the net, which is spectacular hotel right across the street from our offices. I can't remember where it was. But it's in a hotel room, and I'm watching the three networks, TV sky, and they're doing their thing. And they put up the map like John king said CNN Glasgow. And it was going Brexit. I'd like wait that doesn't make sense or whatever it was. I think some. Whatever they were the north in there. Those moments were a foreigner. Like me was saying, wait a minute. They're going for Brexit was there that feeling was that failing. There was that fit across the board. And then what happened prime minister Cameron went into hyphenation, George Osborne disappeared. And the last man standing was governor Connie it's taken a long long time and still we've got nowhere nowhere. We'll move forward and Q two yesterday. Quinnipiac foreign fifteen hundred college kids, it was great and who stole the show John Silvia, the giant of wills. I say he said these are different recessions in one thousand nine hundred ninety these are financial recessions led by banking, and boy, John you see that in the European Union. So how's it going to be left by Bank into the United States, stronger defeat based better agreed? What did he say that he was not calling for recession twenty? But he was saying they're different. Now, the negative rates. We've witnessed this week stink major to one ninety nine. Where's he going? Lower yields two point one percent is call now for twenty nine. That's a big money. You years to five he was at two forty before. That was his previous forecast, the Bloomberg consensus three percents estate major ever HSBC Yongqing down. The yield is the name of his recess reach out to Steve if you want to see it are you long equities, April here are April Fools. We are after the first quarter massive last quarter as well. You know, what it Matt? What matters. Now, we've had these central Bank retreat. We've had the we've had the central banks step up and support reschedule sets worldwide. Now, it's about the data. Let's see what it looks like in the second quarter got into the second half next year this year as well. You know, I'm in the triple Evansville cash fund. And I swear you're going to see an ETF out in two weeks to pool leverage shrines common. Somebody's bringing it out on a road show. Where are we in the soccer season? We finally restarted after all this international stuff. I don't understand the season of English football. Is it like after the international break is this like a new season? Now, it's game thirty to thirty eight matchday thirty to thirty eight. So this more games in the season after this one. Yeah. So for example, the tots and Liverpool the touch really need to win this weekend. Oh, absolutely. Yeah. Stay in the mix. Yeah. But is it like Urquhart hockey all of a sudden the season starts in February? Is it the feeling this is the important end of the season for the relegation battle at the bottom of the table for the fight for the top four to get that Champions League qualification and to win the lake and we've got a real battle for the top of the lake now. And why we haven't had what do I get for nineteen hundred dollars a ticket at Liverpool. Stuck a now I identify what tickets you're looking at their like fancy tech. You want to stay in the Copan with the real fence the carpet. This is Bloomberg. What percentage of global GDP is the United States half two-thirds? Guess again America is just twenty four percent, which means that seventy six percent of global GDP comes from outside of the United States. Oppenheimer funds believes opportunity looks similar in every language with almost fifty.
"george osborne" Discussed on Bloomberg Radio New York
"Learn more IB K R dot com. Not in America. John Farrell, but certainly in the United Kingdom are interview with the Irish prime minister today was just extraordinary all of his skilled stepping around the issues that clear tone is you know, what it's their problem. It is. And that's what I call from the Irish finance minister as well. You spoke to the prime minister yesterday. I caught up with the finance minister Paschal Donohoe, basically said the same thing I said what happens the Irish border is a hard Brexit, and he said, there's not going to be a heart border. It's not going to happen, and they need to fix the prime minister folks to describe this. I took root to fifty which goes north out of Ireland the middle of nowhere. It's gorgeous. I looked at Google street. And it's just it's like a movie set. Yeah. And I said, okay. What are you actually do just by Cassidy's filling station one mile from the border, and he described what would happen, and he said, it's not going to happen. Madam lagarde? My first question here at the meetings, not populism job at the far right of Europe. And the tinge of fishes. She was bold. She went right after and said, yes, there are linkages and they have to be fought by the elite and frankly fought by the ballot box in Europe. I've found policy makers through the week just incredibly behind the curve picking up where Mario Draghi DC president left off yesterday. This is an ECB that was surprised by the slowdown in Q three. They thought it would be temporary. It went into Q four, and it's bled. Into twenty nine eight one as well. They shouldn't have been surprised they told us they would data dependent. I think they've been criticized because they haven't been dice dependent at all the data has worsened jet. They're still remembering accommodation and a now thing we have a real. Conversation about what the European Central Bank can actually do to support growth later this year. I don't know what it is the conversation is sort of coalescing around the idea that maybe they offered more longtime financing visit banks the towel tros. But but the singular data point this week, and it happens to be in Europe when we're here, and that is the German tenure yield per just with the violence coming in. Do you want to know what the good news is for you on the week data's rubbish? The market's being okay tenure yield is lower on the week. The demands a euro is essentially flat on the weekend. Mount pitch for peripheral debt is out record despite the data getting weaker. So maybe the market is looking through this. Are you going to lead the real yield today on Bloomberg radio? Do you know, I'm very very happy to say, the your protege. Tegla rigs Taylor is heightened zoo. The yield a little bit like school her and risk premia. I think titles, and she knows what she's talking about. To preach to Taylor Taylor rigs across all of the kid about it, folks. But the show has been a huge huge success for Mr. Farrell and note will be the largest success for misery. As well. We're gonna forget about Trump and stone to the time we've got left. Yeah. The biggest problem in Davos, folks, it's not John Farrow falling down on the ice. Or me. I need the surveillance nap, and it's hard to get your the biggest problem are the mucketty mucks running around our Bloomberg headquarters here and the editor in chief says you've got to look at Lister Tom and a big game with Liverpool. Leicester -scuse me. I thought listerine whatever I thought, you know, I said who and I'll be lucky if my badge works when we get back to New York game. One of my highlights of the week was to note, it was it was you sitting down inaugural with George Osborne because he was a Chelsea fan, and you pretended that you support Spurs. Showing the former chancellor about how your thoughts were better than his Chelsea got that. Right. He just the political he handled it better. The Tony Blair Leicester's in the middle of the pack. How do they prepare for their playing Manchester? United the tots and Liverpool all on three weeks of really brutal. Couple of weeks coming up really difficult read if you've got to and pick up just a couple of points. Maybe Klay a Liverpool you play defense or do you try to kick the ball more? While you try to play defense. He hit them on the counter-attack that's often often the sort of strategy to take on a team like Liverpool city instead of.
"george osborne" Discussed on Bloomberg Radio New York
"The future. No, see. International falls. This gorgeous. No, let me change change the gear here on China. Do you send soybeans over there? What's the logistics involved as we speak to our frontline economists, Ken Rogoff at Harvard? He always circles back to L Americans underestimate logistics and the engineering of moving stuff, give us an example of value moves unbelievable the beans leave the field, and they might go on a truck to get to a railcar train. They might be go to a bar to get to the river, which then goes to the ocean. Then gets loaded on a big dry house our infrastructure because JFK's a massive Guardia is a mess, etc. How's the infrastructure? The cargo works with in the US needs improvement. So testified before a house committee a couple of years ago, saying we needed this infrastructure Bill that a lot of the politicians have been talking about for our waterways or railways in our roadways to help move FU out of the country to where it's needed infrastructure problem. One problem to access to label. What does that look like right now? You know, it's getting tighter and tighter. So our in our in our business in the US, it's getting harder with changes in immigration policy. But also the tightness of the market. So it's getting harder. We talked to earn Sorenson today Marriott and center in this immigration porno meatpacking, I'm thinking, western Kansas. Just one example, give us a vignette of the immigration realities for cargo immigration realities number one is it's a very thorough process to make sure anybody hires here legally number two is so therefore you could argue that if people are not coming in illegal anymore. It's not impacting the labor base, but western Kansas, Nebraska, northern Texas. The markets are tight and the turnovers. High is some people will turn around and say raise wages, and they will appear they will come is. It as simple as that. I don't think it is. I think a lot of these are these are tough jobs, and as I mentioned turnover is high. So it's a very rapid process of hiring and training and then hiring again. Are you hopeful that we can have some kind of bipartisan effort in Washington DC to address some of these issues. I am I have to be hopeful if I don't want to go and just become despondent which would be easy to do. So I'm going to I'm going to hang my hat on hope. This is let's review this. We've got a Republican party. All can agree essentially fractured president who's going to go at it again, Minnesota and the northern midwest that you represent the fabric of these two families has a socialist progressive past that goes back well into the nineteenth century, it does how does the Democratic Party of Hubert Humphrey? How do they reset in readjust out of the ears of Clinton and Obama? That's a good question, Tom, and as you allude to Minnesota's been blue since Eisenhower election of nineteen fifty six, but Minnesota like a lot of the country has been bifurcated. So you've got southern half the twin cities Minneapolis Saint Paul which is still blue. You got the northern half of the state, which is the iron range where they do tack night mining which is very rare. And so it's a metaphor for the rest of the country in Minnesota. So this has been wonderful. Thank you so much for having me. Thanks for my McLennan quote frost for beta time at Amherst college. I never thought for a moment we were going to go through his whole bio when you know. Look, look every school's got that magical Amherst college. It's english. It's like it's like a it's like a lodestone of belief you buy rubbers. Amherst, you don't even know Gary schilling Davis Feser Amherst went Salaam, then calculus, president Cal. Thanks for their neighbors. Mclennan of cargo account. Some k now he's going to do this with every the whole week democrat from Greg catch wallpaper, George Osborne, and he was happy with that too. After the interview for plucking the interior design company. Would you mention an extremely why don't you do this? John benjamin. This is your interview. Thank. We'll be with UPS chief executive officer always important a real real brass of what's going on within the United States of America Diggle. Okay there. He did fantastically. I'm looking forward to that interview. Coming up very early in the markets right now in the early part of the session this Tuesday in New York City price action shaping up as follows equities. Looking software down nine tenths of one percent. Five hundred do not take investment recommendations from Tom case, which the board. In the bond market treasuries shaping up. As follows yields coming by couple of points on the ten year. Call it four to two seventy five and.
"george osborne" Discussed on Bloomberg Radio New York
"Have a more level playing field is going to be very difficult to cross-border consideration. So that was to gentile. Are we having fun yet? It's like, we're we're seven hours into our coverage. We have another four days with is a lot of the folks will be an emerging markets. We have Brazil talking right now. And it'll be interesting to see parallels with President Trump and his agenda, and then a lot of focus on the ocean. But what do we want to China, and Brexit, Brexit, and John Farrow, the global slowdown? But what to me is fascinating each year is different. And the great thing. This year is the early theme has got to be global slowdown. Guys have spoken to it. It's the people who struggle with domestic issues in France, the United Kingdom and the United States that gives you a better idea. I think of the state of the world right now, we speak anything house thick. Yeah. And I think through our interviews throughout the day there, a lot of people that think there's a common theme, which we also try to basically make inbetween Trumpism and Brexit and some of the concerns that we have elsewhere in the world, and when we speak to the European Commission, even Mr Catania, and the pro arch European saying this wave that gets bigger for a lot of western countries is really interesting, and and again to the Brexit theme with George Osborne in our lengthy interview or the former chancellor of the exchequer there's all these distractions in all these Connie's each ones different. And yet one of the things here from truly global experts is they're all the same policy making more difficult both for the politicians and for that matter for the central banks as well. This is my struggle with Europe. Specifically, I Europe. He's going to increasingly be a big thing this week as we approach the meeting monetary policy of the European Central Bank is totally exhausted. The fiscal position of the Europeans has not really been fixed a.
"george osborne" Discussed on Bloomberg Radio New York
"You'll hear on shows like this. It said that there's a majority of the British parliament to stop a no deal Brexit now that is the default eleven we're leaving the the end of March. Whether we have the deal, and it order to stop it. It's all good enough says majority against leaving that majority has to coalesce around one of the options, either an alternative deal, delaying Brexit asking me to delay Brexit Origen directional referendum the name of the parliament's quite divided. So yeah, I would say looking at financial markets you go to a price in the tail risks that Britain does leave without a deal. And then you have to say increasingly likely the Britain is going to remain in the EU at the end. I don't know how many people have told you this. But you sounded like Jeremy Corbyn, not Jeremy Corbyn ever told me. Isn't that? Jeremy? Cockbain is he's partly being what opposition leaders are that trouble for the government out, of course, sitting on a very divided party himself unwilling to come to a single conclusion the puck with delaying. I'm telling you what I think is going to delaying is it. It doesn't actually confront the choice Britain now needs to make it puts it off, of course. And that's why it's a convenient bucket for people to go into. But I think we all less. I think I'm quite pessimistic about this unless somehow we can construct some kind of deal which takes Britain out of the EU, but keeps us in things European economic area. Which by the way, we think is a fair reflection of vote that split the country at half. Then we're going to be confronted with the only way to stop leaving the without a deal, which is stopping Brexit. How do we then look to the arch, Brexit tears? I'm gonna mention Boris Johnson is well who say we have a nostalgia in vision for doing our old trade deals doing being unilateral in our view of the world literally harkening back to the empire. If you will. It's nonsense, but they have a certain mass, which would you gauge as an enormous great billboard on the side of the big hotel here in Davos, which is sponsored by the British taxpayer, which is Britain is the sponsor free trade. If we leave the U without a deal, we are engaging in the biggest active protectionism in the entire history of the United Kingdom. So nothing's free trade. It's about erecting trade barriers with all nearest biggest some people that George would say that the European Union itself in buddies that protectionist regime in the eyes of many people, in fact in the eyes of many people that voted to leave that is what the European stands for either in our club. And that's great and you can enjoy the benefits of that. But if you're outside of it, go fish around your living that at the moment, I'll be finding out. But that's what the European Union stance for. Well. I would argue that these countries like France, Germany. These are our biggest export markets. We're in a free trade zone with them. I'm all for the EU doing trade deals with America. Japan, which has just been completed China even kingdom to a trade deal with the United States of America. I think the first part is to have a trade deal with our nearest neighbors which were about to tell up if we leave without a deal. And then, you know, the European Union is the best platform through which you can get a good trade deal with the US and the things like permanent membership of the customs. You could have been a route to deal that more MP's would have supported. Government you were in minority. I remember David Cameron was to swords lanes. David Karen was going against Gordon Brown. And it wasn't like America. Are you add vantage or disadvantage, the Jeremy Corbyn is labor party head with this debate be radically different? If there was a different leader of the minority party. Well, the answer is yes. And it's very sad for those of us who care about publish walks in our country's reputation that labor is not led by much more, moderate, social democrat. The kind of has led the light body for all of my lifetime. I think if labor had that kind of leader will they probably now be a labor government as it happens. But even if there weren't governor right now, we would be on the cusp of a big labor government with a big majority. But we don't because the country's understandably very nervous agenda and also many in the country doesn't want to have choice. I did think of simply Jeremy Corbyn Jacob Reese, Volkers Brexit, type you there is a censor that which is looking and waiting for. Voice. Well, let me give you a choice. What would it be the worst outcome for the UK economy, a hard Brexit? Jeremy Kelvin is the prime minister. But I think one needs to the other. So I'm not sure our choice Brexit. Brexit argument is globalization has failed you the elite Savell. Do we need to completely change the way we run the country philosophy phobias that is Jeremy Corbyn argument as well. So Brexit opens the door to Corbin cobaine would be very damaging or close to Britain's reputation as a home business and free markets. But we're already doing an illness about a damaged by choosing to leave the ear and erect protectionist barriers and tear up a key feature of the western art. Joining us on Bloomberg radio, George Osborne with this journalists as well as we talked emotions of his United Kingdom, all internal journalism. I was thunderstruck by the vibrancy of London newspapers, you're at the Evening Standard and just the cacophony where I would say is radically different than what we have in. In America, where there seems to be much more of a sameness to it is the joy of British journalism and journalism as it is a risk of going away as it has in the United States. I was great fun signatures paper and for me. From politics, not a great second career. And you know, I'm always trying to speak for all many readers with a the classic London newspaper had been for one hundred ninety s and I want us to have a broader national readership. I think in the end, you know, you gotta make it entertaining in. I was a kid in London the Evening Standard was the way you found out. What was going on in the world these days you turn on Bloomberg? Right. You can get a cold. You come. You can get a call. Commentary almost Gary only well by the time you pick out my newspaper in the afternoon. This is happening in financial markets or this plane has crashed. This government is falling. What we can do is provide a context to it. We can make it entertaining. We can inform covering football. We do cover English were particularly my team. Chelsea really the other day. Wow. Camp drum Thomas bee. I liked the tots or like this team or the bubbles. Are you thinking of West Ham? Yes. The cab drivers lecturing me on our arsenal. Chelsea the copy that predicted the outcome. Yes. How are we going to big top the Chelsea game offensive? They'd average. I'm getting I leaving. This is a Savannah's breaks George Osborne, leaving Happy Valley to go home for the game. Final question is through route back into politics for George Osborne. Yes, they might be, but I'm enjoying my life outside and I don't want to go back to this current situation. Now, I want to work on things that are building up our country's reputational diminishing..
"george osborne" Discussed on Bloomberg Radio New York
"Saudi Arabia now, the UK is not taken that tax. And I'm just wondering whether that complicates joint projects with the Germans at the moment. Ultimately, it does complicate arrangements. When you have a partnership, you expect everybody in the partnership to behave as was committed at the time. The partnership was formed, and there is no question that in developing an aircraft with partners, you believe them to be that to the end. I agree at the moment. The German position is different from our own. I mean, we respect what has happened in Saudi Arabia in terms of the positive. I think the negatives of being admonished by the British government, and we are seeking to work as a friend to resolve those because Saudi Arabia is important economically. This is very important from the point of view of our security. Our intelligence networks. We should never forget that how difficult to maintain that relationship when the PR of Saudi Arabia looks so dreadful of the last year, or so I think what we have to do is recognize that if you stand a relationship, you can advise how to improve you can work as a friend in order to improve the condition and return it to the trajectory was on. There was considerable improvement vision. The more liberal Saudi Arabia all of these things were going in the right direction. Of course. Systems this goes beyond Jamal kashogi. You just south of weapons, and then also instruct them what they can. And can't do in a place like Yemen. Can you have any influence over that whatsoever? I think politically our leaders do make the point that this is something that ought to be brought to a conclusion at the earliest of the earliest possibility, but we should remember too in the case of Yemen. Although it is an appalling situation, it is a country in the form of Saudi Arabia is defending itself. That the heart of this war. It is a defensive wall not an aggressive one. Roger Roger car where a systems and their children. Thank you so much coming up on the program. Much more from the World Economic Forum in Davos, Switzerland. We'll be speaking with George Osborne, the editor of the Evening Standard..
"george osborne" Discussed on Reasons to be Cheerful
"You wrote a piece in the F T, which which temblor which got a lot of attention in the. Chattering aleve. I mentioned Jeremy Corbyn you Message. I that. forgot that. I mentioned Jeremy Corbyn speed the headline walls. I'm just sort of finding here. Jeremy Corbyn labour looks poised up the status quo. The you. Help addition steps drinking void left by government grappling with Brexit and talk to us about yours. We've Lucien your thinking, and sort of you know, how you square what you've done with the mad world of politics. So. One I left my in finance for over thirty years. And when I decided to leave I had no idea all it was going to do. And I dreamt this phrase. It can't be got to be different without really knowing where men, but it was it was I'm still working on that. And the first thing that appealed because it was so different was to lead this independent review into urban growth and do join come up with ideas about the accessory dependency on London. And that's what sort of is the first time I'd really devoted any Parramatta thinking about public policy, and I enjoyed it. And not is indeed whether northern powerhouse idea came from and to my astonishment s-. When the conservative party surprisingly won the election, which I think you will. Some I sli amazement, George Osborne. Smith to become a minister to help him implements, and it already adopted it six months early should know. And I I wasn't sure that I should partly Kasai. Most people normally associate me more laughter sensitive, but the whole world of I, you know, I'm still I didn't know anything about what was the experience like being government. I have absolutely no regrets that I decided particularly because of so, but whatever the wrongs people's views your diesel, George. He he he was serious about this on a lot of people obscene so much about how opportunistic is trying to ban on the rest of it. But I didn't really care about that. It was giving such major players because he was so close David come here became a major focus will, you know, if Sino mile spend the rest of my life aggressing Bill, and it was it was really quite enthralling the since I got it was quite clear that only did a lot of people in the public thing that quite a lot of the other cabinet members didn't really think it was very serious. And so I was part of everybody realizing it was something serious about. So that was really quite exciting. And you could sell it you'd. No way better. The the way the the civil service system works once officialdom got wind that this is something serious immediately all started focusing on it. So it was kind of a law firm, and then Theresa May. And then we have the reference. Yeah. Life in general went down. But a and you decide to Jackie strangely in a way. I was asked to stay on. Yeah. And one of the things the new PM severed to continue with your good work on the northern power. So awesome. Okay. Because I didn't want to leave my life would become associated with Georgian house. So I decided to do so, but it became evident to me within weeks that her team wouldn't say this about things in the way that I thought we should. So I didn't stay on Bill. And then you've been in this piece in the F D E which could by Jeremy Corbyn as you reminded me conference. You're very positive about just that country's never mind the poll counter where that came from escort funny as all these things so. Partly this one hour, June of two origins. One is having lived through the crisis going sucks, but all financial growth financial crisis sufism serve nights. And. When I left I didn't view there to the thing that the headline picks up on the asked me..
"george osborne" Discussed on Reasons to be Cheerful
"Terrence around big picture things. That's how you actually start to get stuff done. And I think that said that you, and I were pushing an open door, but both of us were urging ambition. Yes, during the course, which unite recognize that we need for an outside. You know, charity to be doing a report? There was no point in doing something which was just to the stuck in the winner of government is one of the things I realize about watching how you operated that. We we clearly without talking about it privately shared this. And it was so obvious to me had to do that. Otherwise. It is that it will just gather those study held as many of these things gonna make sure it doesn't if we wouldn't have done something like this. But there is something also that speaks to your expertise, which is the sort of economic question about this. Whether United discusses about seeing council housing as sort of asset about this notion of infrastructure, capital, investment and asset. So the other thing the two or three things that really struck me from let's call it forty thousand feet store. First of all, why is housing not regarded as an Esa in the same way? That's a just two or cross rail would be doesn't really make sense one of the big things that I think shelters go get some supporters on not lose the momentum and some of his commissions. Nobody can help a little bit is to get the infrastructure commission. Swap three years old, which is the government body looking vodka supposedly have indepen. Pendant analysis of what's important for Britain's infrastructure housing is not on it. And it's never been the case it was deliberately excluded. I didn't my boss. George Osborne on my extensive seventeen months minister ensure because. I suspect he deliberately would complicate their politics. I don't know. But it was and I tried to this. It doesn't make sense for the reason you just said, and the the second thing which goes with it which dawned on me, and I in housing isn't something I've spent a lot of time thinking about in the past. But when you look at the kind of basic evidence, presented civilian, it really seems to me like we've had an Elastoplast a policy thing as we have on so many other things but for the past falls yard years. There's not really being forty thousand feet policy everson's, Maggie Thatcher. I decided to be cool to have people who lived in council houses own them. Spend the end of any thoughts about housing policy. We've ended up all these people this horrific rise in private rentals people that can't really afford to live in a lot of those places not as a deliberate intention, but just as part is a consequence of that. And of course, people can't afford to buy their own. So. Got what number does get right to the call of actually something way beyond your social housing, fundamentally dealing with Britain's post post nine hundred sixty thousand dollars on the serving the did of thirty one thousand people at retarded kept coming back that people that lived in these private rentals. We'll more cheese of life than people living in social home. So you think about it as an economist sort of classic market failure. So it's, you know, obviously, look at the price of the intervention that market failure. Because you've got you've got a lot of people being forced into an outcome that there's no real benefit. Yeah. On this of welfare payments in the huge welfare. Bill grandmother. It's all being done to support people living in the situation that don't really wanna live in so an obesity as a lot of just change the fundamental. So you don't have to spend all that money on what from a macro economic. Passive would probably be regarded as money with no real multiplier effects on. It's just sort of Giddens for nine cents subsidy to housing as opposed to infra investment in bricks and mortar which does have. A classic sign of many, economists might regard as ways to government spending in that. It's if you go about Gordon Brown's golden rule it will be in the category of non investment spending..
"george osborne" Discussed on Coffee House Shots
"I think it's one of the best political dramas that I've ever seen. Actually, it doesn't purport to give accurate descriptions of of the characters every MP comes across as nincompoop and the gen. Oh, well, it depends on your point of view. Of course. Where I think it released scores shoes why remain lost? And that was because the arguments had stopped resonating. They were having this mid-nineties playbook. Let's talk about jobs Nikon me, and we're gonna win and the facts this wasn't working because the public you are depicted in various ways and the documentary we're asking a different question. They were concerned about the way the globalization was heading they're concerned about what's happening to their community their job security, and there were lots of reasons why the phrase take back control resonated with service. I love about this. I mean, sure it does depict Westminster characters, but more more to the point this shows, a seismic shift in our politics, which just happened not just in Britain, but the continental Europe and in Americas. Well, and it gives a real insight as to why the happened washed it with my wife at the weekend. She finished thinking was incredibly pro Brexit. There's a scene at the end. They force confession out of Dominic Cummings where he says, yes, of course, I'm as bad as the rest of them, and that Briggs has been a complete disaster. So you've got some bits at balance. But I don't think anybody who's a Briggs. It's here watching that film of feel is being politicized. I think you're far more likely to get remainders thinking why haven't they been betrays the bunch of villains that they are. I one of the things about the Brexit referendum is is how it showed it gonna playbook that didn't work anymore. But, you know, the classic the remain campaign was was you know, some of the most hunted operatives playbook. I just didn't work. I mean, one of the things that people didn't appreciate is how but crash changed everything if you want to know why politics in western water on earth. The crashes the event of all times because won't that did was it cemented. But death of deference the I didn't mean people had in two thousand five had any great love for investment, banks and all that. But they kind of reluctantly accepted that these bankers knew what they were talking about. So when they said do develop people people didn't like it, but they loved it. But then after the crash, they basically we didn't know what they were talking about. Anyway, always memory vivid memories of about campaign was but one of the senior people going to work on the league campaign, always explained it to me as an attempt to get close enough that you could ever have enough ago in the year's time and win over it. You would get a Tory leader who was a Brexit tier? And then you have a government committed to leaving the EU one person text me saying turn the TV on this is why actually win and it was George Osborne. And Jamie Dimon, basically saying if you vote to leave there will be job losses, the banks won't like it. And I think it was that sense. That he gave people chance to kick by a political class for math because of expenses and everything else and an economic loss will not we because of a crash at the same time. And I mean that was that impulses. One of the massive things that drove the Brexit vote, and is driving on certain, you know, politics, even now we'd normally route the podcast up at this point. But Sam Scindia thought turn the tables and ask you about something the U written about so I mean, we have heard that China has got a proven dark side of the moon. You spend a few days reading Chinese papers..