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About The London Economic
The London Economic emerged from a political blog sharing platform created by Jack Peat in 2012. It was developed through to 2014 into an alternative news website in an attempt to redress the political power of the mainstream media.
While it focuses on UK political affairs, it also has Business, Economics, Food, Sport, Entertainment, Lifestyle, Travel and Property pages.
Grayling looks to EU to dig him out as ferry fiasco continues
Jack Peat - 04 January 2019
A dredger from the Netherlands was put to work in Ramsgate yesterday as preparations for the ferry company with no ferries were put in place.
The Dutch dredger was spotted clearing rubbish, weeds and excess mud at the Kent site to prepare for potential extra freight trade crossings.... See more
Brexit contract handed to shipping firm with NO ferries
Joe Mellor - 31 December 2018
In another Brexit story you couldn’t make up, a very lucrative contract has been agreed with a business that will run extra ferries if a ‘no-deal’ Brexit takes place, but has no ships,and has not previously operated a service.
Seaborne Freight was one of three companies awarded contracts totalling £108m last week to lay on additional freight crossings to ease the pressure on Dover.
Seaborne’s contract is for £13.8m and they have defended themselves amid criticism it doesn’t currently have any shipping vessels.... See more
Conservatives use refugees as political pawns ahead of crucial Brexit period
Jack Peat - 31 December 2018
The Conservatives have been accused of framing a migrant crisis in order to “whip up fear” before the Brexit vote after Sajid Javid declared a “major incident” in response to a handful of small channel crossings this Christmas.
The Home Secretary was said to have borrowed moves straight from Donald Trump’s playbook as news cameras turned their attention to the desperate struggles of refugees in order to create the illusion of an emergency situation.
“Make no mistake”, Labour MP David Lammy said, “this is not in response to genuine concern for human life. This is Sajid Javid imitating Donald Trump’s “migrant caravan” manufactured emergency to whip up fear before the Brexit vote. Desperate and cynical.”... See more
Questions raised as Home Office roll out major settlement scheme under the guise of a cheery video
Jack Peat - 29 December 2018
Serious questions have been raised today after the Home Office rolled out an “important and unprecedented” settlement scheme under the guise of a cheery video.
The video, which features up-beat music and pictures of smiling people, details the application process for EU citizens who want to continue living in the country after 31 December 2020.
Checks on their identity, UK residence status and criminal record will take place on all EU citizens living in the UK and will cost applicants £65 for an adult and £32.50 for children under 16.... See more
Corbyn puts pressure on May to cut short MP’s break to allow vote to take place ASAP
Jack Peat - 28 December 2018
Jeremy Corbyn has put pressure on Prime Minister Theresa May to recall parliament early to allow a vote on her Brexit deal to take place “as soon as possible”.
The Labour leader reiterated that he wants MPs to have a vote as soon as possible in an interview with The Independent.
He also suggested that if May were to lose that vote – which looks likely – he would call for a confidence vote in the government that could potentially trigger the snap general election Labour says it wants.
In his interview, he said: “We’ve made clear it’s a question of when, not if, we do a vote of no confidence in the government. Obviously we do [it] at a time when their confidence is the lowest ever, which I suspect will be after they’ve lost the vote.”... See more
Immigration White Paper doesn’t “meet the UK’s needs & would be a sucker punch for many firms”
Joe Mellor - 19 December 2018
Low-skilled workers from EU countries will no longer have the automatic right to work in the UK after Brexit, under proposed new immigration rules.
Home Secretary Sajid Javid said the plans – to be published later – will not include a “specific target” for reducing numbers coming into the UK.
The CBI has responded to plans for a new post-Brexit immigration system as set out in the UK Government’s Immigration White Paper.
Josh Hardie, CBI Deputy Director-General, said: “A new immigration system must command public confidence and support the economy. These proposals would achieve neither.... See more
Govt must assess impact of UC on disabled recipients & ‘not leave people destitute’
Joe Mellor - 19 December 2018
An influential group of cross-party MPs have published a report urging the Government to properly look at the impact of Universal Credit on disabled people.
The Work and Pensions Select Committee, chaired by Frank Field MP, is particularly concerned about people currently on the older benefit Employment and Support Allowance (ESA) losing out on ‘disability premiums’* – extra money which will no longer be available after they’ve moved over to Universal Credit (UC).
In addition, the report expresses concern about the lack of clarity or adequate protections for people facing the process of ‘managed migration’, which will see thousands of people with mental health problems make a new claim for UC within three months, and lose their income if they fail to do so.... See more
Sexting MP has whip restored to help May get over the line
Jack Peat - 12 December 2018
Andrew Griffiths has had the Tory whip restored today as Theresa May frantically looks to get the support she needs to survive tonight’s vote of no confidence.
The Prime Minister will face the vote this evening with results expected to come in at around 9pm tonight.
And she will need all hands on deck if she is to survive.
Andrew Griffiths resigned earlier this year after it was revealed he sent 2,000 texts to two barmaids asking for explicit photos and videos and describing degrading sex acts in crude detail.... See more
Lawyer speaks out over BBC bias against Corbyn as evidence of “coded negative imagery” emerges
Jack Peat - 12 December 2018
One of Britain’s leading barristers has claimed he has evidence of BBC bias against Labour leader Jeremy Corbyn.
Jolyon Maugham QC, director of the Good Law Project, took to social media to post the alleged evidence of bias against Corbyn.
He said a senior BBC journalist has told him that the BBC has indulged in showing “coded negative imagery” of Labour leader Jeremy Corbyn since his election in 2015.... See more
“Ludicrous” Home Office u-turn on suspension of ‘Golden Visa’ scheme
Joe Mellor - 12 December 2018
The u-turn on suspending the ‘Golden Visa’ scheme feels as if it was snuck in as the Brexit situation became febrile yesterday. Only last week the Government said it would halt the scheme as a sweeping crackdown on financial crime.
The UK’s anti-corruption policy was under scrutiny on Tuesday after the government failed to implement a promise to suspend a widely criticised “golden visa” scheme.... See more
ECJ rules Britain can cancel Brexit as MPs prepare to vote on May’s deal for leaving EU
Jack Peat - 10 December 2018
The European Court of Justice has ruled the UK can cancel Brexit without the permission of the other 27 EU members.
The ruling comes as MPs prepare to vote on Theresa May’s deal for leaving the EU, which is expected to end in a crushing defeat for the beleaguered PM.
It comes after a senior ECJ official – the advocate general – said last week he agreed the UK should be able to change its mind about leaving.... See more
Conservatives abandon Northern Powerhouse as spending gets ploughed into the south
Jack Peat - 05 December 2018
Conservative promises to build a Northern Powerhouse lay in tatters today after new research found spending in the north of England has fallen by £6.3 billion while the south-east and south-west of England have seen an increase of £3.2 billion since 2009-10.
Analysis of official figures by thinktank IPPR North showed that the north of England continued to see bigger cuts in public spending than any other region.
Spending per head in London has increased by twice as much as spending in the north – £326 per head in London, compared with £146 per head in the north – since the launch of George Osborne’s Northern Powerhouse initiative in 2014.... See more
For the first time in history MPs vote government in contempt of parliament over hiding full Brexit advice
Ben Gelblum - 04 December 2018
There were extraordinary scenes in the House of Commons as for the first time in history MPs voted to find the Government in contempt of Parliament over its refusal to release its full legal advice on Brexit.
The Government is now set to publish the full text.
Theresa May’s attempts to hide the full legal advice on her Brexit deal despite MPs voting that they should see it avote on the deal were scuppered.
“The government is wilfully refusing to comply with abinding order of this house,” Shadow Brexit Secretary Kier Starmer told MPs in today’s debate... See more
Child poverty statistics declared an “outrage and a scandal”
Jack Peat - 04 December 2018
New statistics that show a third of children are living in poverty have been declared an “outrage and a scandal” by Labour MP David Lammy.
A report by the Joseph Rowntree Foundation revealed half a million more people are “trapped” in poverty than five years ago, with 14 million people living in poverty across the whole of the UK.
Over half of those classed as in poverty are working age adults, alongside 4.1 million are children and 1.9 million are pensioners.... See more
Tory MPs face backlash for Foodbank publicity stunt
Jack Peat - 3 December 2018
Conservative politicians in Scotland have faced a backlash today after a Foodbank publicity stunt backfired.
MPs including Ross Thomson, John Lamount, Kirstene Hair and Luke Graham appeared to use scripted copy to boast about donations they made to an annual food collection organised by supermarkets in conjunction with Trussell Trust.
Stephen Paton, online content editor at The National, tweeted: “If you want to give the impression you’ve spontaneously donated to a food bank, probably best not to mostly copy and paste whatever the Scottish Tory PR office sent”.... See more
Brexit “a complete shambles” and Government has failed business
Joe Mellor - 12 November 2018
A leading business figure has slammed Brexit and the Government’s handling of the negotiations.
Terry Sargeant, boss of ThyssenKrupp in UK, believes that Ministers are more focused on keeping their party together rather than ensuring that businesses are not harmed post-Brexit.
Mr Sargeant told The Guardian: “If you make a market more difficult than it is at the moment, then what is the attraction to the investor?
“I do not see how we can continue doing business where supply chains are so interlinked with being part of the customs union.”... See more
Jeremy Corbyn receives standing ovation from packed out Youth Parliament
Jack Peat - 9 November 2018
eremy Corbyn received a heartwarming standing ovation from a packed out House of Commons today.
The Leader of the Opposition joined aspiring politicians for the UK Youth Parliament’s debate in Westminster, and was warmly received after being introduced by the Speaker of the House John Bercow.
Captioning Corbyn as a man who “says what he means, and he means what he says” Bercow noted how Corbyn has passionately campaigned for young people.
The Labour leader delivered a huge election upset in 2017 after a surge of young voters backed his spirited campaign.... See more
“Unforgivable cowardice” Government won't allow company to criticise May over Grenfell Tower fire
Joe Mellor - 8 November 2018
A shocking article by The Times has claimed that WSP, engineering company, was warned not to create “adverse publicity” about the Cabinet Office or other Crown bodies (this includes May’s office)
The Times said WSP experts were hired after the Grenfell Tower tragedy on 14 June last year, which killed 72 people.
The contract reportedly stated WSP should ensure that neither it nor anyone working for it should “embarrass” or be “in any way connected to material adverse publicity” relating to the Cabinet Office or other Crown bodies.
Labour’s shadow home secretary Diane Abbott said the revelation of the terms of the contract was “shameful”.... See more
Universal Credit causing major hardship, says report
Joe Mellor - 26 October 2018
More people are worse off under Universal Credit, according to a report published by a cross-party committee of MPs. Following evidence given by organisations including Mind and anti-poverty charity The Trussell Trust, the Public Accounts Committee has published their latest report which adds to the growing concern surrounding Universal Credit.... See more
Demoralised UK Border Force face post-Brexit meltdown
Chris Hobbs - 28 September 2018
Chris Hobbs is a retired Met police officer who worked extensively at border controls in both the UK and Jamaica.
Government proposals that EU nationals and non-EU nationals will ‘be treated the same post-Brexit’ is being greeted with a mixture of hilarity and incredulity by UK Border Force officers.
After a summer of chaos at our major UK airports in terms of queues with woefully inexperienced civil servants being drafted in to staff passport controls, it is clear that our airports and indeed our controls at seaports would simply be unable to cope with the extra demand.... See more
Workers and businesses set to thrive as Labour broadens ownership in our economy
Jack Peat - 24 September 2018
Both workers and businesses will thrive under Labour Party plans to force large firms to give workers shares in the company, a Warwick Business School professor has said.
John McDonnell set out proposals to make large corporations give workers shares worth up to £500 each year as part of a radical shake up that looks to broaden ownership in our economy.
In his main party conference speech, the shadow chancellor set out plans for “inclusive ownership funds” as well as detailing how vast executive salaries would be trimmed and “the profiteering in dividends” would be ended.... See more
This is how many homes London needs to cope with rising population over next 25 years
Jack Peat - 20 September 2018
London will need an extra 844,000 new homes in order to house its rising population over the next 25 years.
Official figures show the number of homes in the capital will need to rise by a quarter by 2041 if current trends continue, bringing the new total to 4.3 million households.
Tower Hamlets, Barking and Dagenham are likely to be the boroughs that will shoulder the lion’s share of the growth, with Hackney also in for a 35 per cent rise in residential properties.... See more
4.5 million UK children are living in poverty
Joe Mellor - 17 September 2018
A shocking new study has discovered that over 14 million people, 4.5 million of them children, and living in poverty.
The investigation also discovered that 12% of the total UK population is in “persistent” poverty, having spent all or most of the last four years below the breadline.
The statistics, by Social Metrics Commission, have been gathered from a new measure to calculate social disadvantage.... See more
Economy is slowing to a “snail’s pace” due to Brexit
Joe Mellor - 17 Spetember 2018
Economists at the British Chambers of Commerce (BCC) say growth will slow to 1.1 per cent this year. The influential business lobby group is also highly concerned of the impact of a no-deal Brexit.
Shockingly, this would be the slowest rate of growth since the global financial crisis of 2009. The previous prediction was 1.3 per cent, still a sluggish growth rate for the UK economy.
Adam Marshall, the group’s director general, said the UK economy is slowing to a “snail’s pace” due to hesitation in the business world over Brexit.
Marshall said: “The drag effect on investment and trade would intensify in the event of a ‘messy’ and disorderly Brexit. Businesses need the Brexit negotiations to deliver clarity, precision and results at pace over the coming weeks.”... See more
“In face of austerity Sadiq has worked tirelessly to support Londoners,” Khan backed for 2020 Mayoral bid
Joe Mellor - 14 September 2018
GMB, Britain’s general union, today announced its backing for Sadiq Khan’s to continue as the Labour Party’s Mayoral candidate in the upcoming 2020 London contest.
Paul Maloney, GMB Southern Regional Secretary said: “In the face of savage austerity and a Tory Government, Sadiq has worked tirelessly as Mayor to support Londoners.
“By investing in social and council housing, freezing transport fares and with record City Hall investment in the Met police to tackle gun and knife crime, Sadiq has shown he is on the side of London’s workers.”... See more
London no longer the world’s number one financial centre & Brexit is a factor
Joe Mellor - 13 September 2018
The latest Z/Yen Global Financial Centres Index showed New York overtaking the UK’s capital for the first time since 2015.
The City think tank said there was evidence London had been knocked, but only slightly, by uncertainty over Brexit.
However, it doesn’t make great reading to see London knocked off its perch as we approach the potential stormy waters of Post-Brexit Britian.... See more
Brexit could put an end to next day deliveries
Jack Peat - 9 September 2018
Next day deliveries could become a thing of the past due to warehouse labour shortages after Brexit. EU nationals make up more than 20 per cent of the workforce in 18 industries, exclusive official figures show. And a third of warehousing and storage workers are EU nationals.
GMB warned today that next-day-deliveries could become a thing of the past unless employers improve wages and conditions after Brexit. In the economy as a whole, EU nationals’ share of the workforce rose to 7.6 per cent in 2017, up from 7.2 per cent the year before.The two industries with the highest reliance on EU labour were the processing of fish and meat (EU nationals made up 57 per cent and 45 per cent of the workforce respectively).
The findings will spark fears for the future of some industries if there is not certainty over the status of current EU workers and a clear plan for meeting the UK’s labour shortfalls after Brexit.
Tim Roache, GMB General Secretary, said:“As Brexit approaches it is becoming increasingly clear that many of the comforts we take for granted, such as next-day-deliveries, could become a thing of a past... See more
Food Crisis UK – Almost 4 million children don’t have enough money for healthy diet
Joe Mellor - 5 September 2018
A shocking new report has discovered that nearly four million children in the UK are too poor to have access to a healthy diet.
The report, by the Food Foundation, calculated that a family of four needs to spend over £103 to ensure they have a healthy diet rich in vitamins, minerals and other essential food stuffs.
Sadly, around 3.7 million children come from households who earn under £16k a year, which means they are unlikely to be able to afford a healthy diet.... See more
Britain in the red: Income falls short of spending under Tory government
Jack Peat - 5 September 2018
Average household income has fallen short of spending in every quarter since May became Prime Minister, new research has found.
The TUC study reveals that households have been pushed £1,250 into the red during her time in charge.
In every quarter since May’s arrival in Downing Street (2016 Q4 to 2018 Q1), families’ outgoings have outstripped their incomes – resulting in a total deficit of £34 billion.
As she took office, May promised to support “just about managing” families. But this analysis shows that the pressure on household budgets has increased under her government, pushing “JAMs” even closer to the financial cliff-edge.
In 2017, the ONS reported a calendar year shortfall of £900 per household, the first time in 30 years that the average household has spent more than it brought in.... See more
“No new ideas” How Boris Johnson’s Brexit capitulation should be no surprise for his readers:
Ben Gelblum - 3 September 2018
With parliament about to restart and Boris Johnson’s blonde ambition clearly irking since he had to resign as Foreign Secretary, today’s Telegraph carries a striking portrait photo and a warning to Theresa May that her Brexit plan would spell “victory for Brussels.”
“We have gone into battle waving the white flag,” despaired the ex-Foreign Sec in what much of Westminster wrote off as another cynical attempt at a leadership bid.
BoJo bemoaned that the impossible Irish border situation / customs conundrum should not be a major impediment to Brexit two years on. The fact that the Government hasn’t managed to fix a way of stopping a hard border between Northern Ireland and either the Republic of Ireland or Britain while leaving the customs union was proof that were attempting to “stop a proper Brexit”.... See more
