Tag Archives: philip green

Philip Green and bad business – Lib Dems must act firmly

The collapse of Philip Green’s retail empire, Arcadia is a sad case of history repeating itself. It is only 4.5 years since BHS went into administration, and whilst Green was no longer the owner then, having sold it for £1 in 2015 to the serial bankrupt Dominic Chappell, it was under Green’s ownership in the previous 15 years that the under-investment and plundering of profits led to the situation where the chain was no longer viable.

Retail analysts are commenting that a similar set of circumstances mean Arcadia is now not fit for purpose. The shops look tired, and there has been a failure to embrace online technology at a time when going to physical shops is difficult for many customers. Additionally, Green is reputed to have taken huge dividends out of Arcadia – £1.2billion in 2005, all of which is safely secured in his wife’s name in the tax haven of Monaco.

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25 October 2018 – today’s press releases

Yesterday, we received a lot of press releases with an embargo upon them until after midnight, so it’s a bumper bunch today…

Leading figures from opposition parties will meet Michel Barnier in Brussels today to say the UK must remain within the Single Market and the Customs Union.

The campaign to resolve Brexit through a People’s Vote will also be discussed. The Liberal Democrats, the SNP, Plaid Cymru and the Greens have all said they would support the public to have the final say on any Brexit deal in a vote in the House of Commons.

Last weekend saw …

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Government goes over-the-top in boasting about how it is centralising decisions

Philip Green’s report into how the government could save money was initially rather dominated by the way he has arranged his own personal tax affairs. Some of his ideas were also far from good – such as the idea that the government should become a slow payer of bills to small businesses – but there were also good ideas in the Philip Green report.

The government has now come up with its response to the report and its plans for implementing many of the recommendations. What particularly caught my eye was …

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Clegg backs graduate tax in Telegraph interview

Credit where credit is due, today’s Telegraph interview with Nick Clegg covers a range of substantive policy issues and gives the Deputy Prime Minister the space to give nuanced answers where the question requires them.

The biggest story is Clegg’s clear steer on a graduate tax as the way to square financial demands with the party’s dislike of tuition fees:

While David Willetts, the universities minister, said this week that it was for Lord Browne’s ongoing study to recommend increased tuition fees or a tax, Mr Clegg comes down firmly for the latter. “ children are very intimidated by levels of

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Shock Robert Peston news: he’s human and fallible

Although Robert Peston has recently been criticising HBOS for the behaviour that led to it running up massive losses, a look through his book published as recently as last year shows him repeatedly praising HBOS for some of the very actions that are now being criticised.

For example, in late February, Robert Peston wrote on his BBC blog that,

For all the criticism of the alleged excessive risks taken by HBOS’s mortgage department – as per the charges levelled at the bank by its former head of regulatory risk, Paul Moore – the most reckless lending and investments were made by

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    @Phil Beesley - as I understand it, the ICO are stepping in to investigate whether data security laws are being complied with - and that seems to me a reasonabl...
  • William Francis
    @Michael BG As a matter of fact, I have: https://www.justliberals.org.uk/ownership-for-all/ I am currently writing one going into far greater detail thou...
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    Peter Martin "What would be your choice of a term to replace ‘neoliberal’?" You have skipped a question. The first question that needs to be asked is:...
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    I’m a member of the Labour Party, so maybe it’s none of my business commenting here, but I didn’t view the decision by your party to stand candidates as i...
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