This morning The Telegraph reported that Conservative MP Sir Peter Viggers would stand down at the next election, at the request of David Cameron, having claimed over £30,000 in gardening-related expenses, including £1600.00 for a floating duck house. Some wags wondered whether it fell under the MPs’ second home category. Another Tory grandee, Michael Fallon, MP, overclaimed £8300.00 in mortgage [...]
Tag Archives: Financial services Authority
Recession or depression? Don't ask Gordon Brown, he's in denial.
February 12, 2009 – 9:46 pm
A recession is defined as two successive quarters of negative GDP; a depression is defined as a slide in peak-to-trough of real GDP of 10% or a decline lasting more than three years. According to Mervyn King, Head of the Bank of England, the UK ‘recession’ is much deeper than anticipated. GDP might drop by [...]