3 weeks ago I had lunch with David Miliband, and several other Labour MPs, in Westminster, as we hosted Lord Andrew Adonis and his team, who are doing a report on the North East for the LEP. David was incisive, engaged in the difficulties of changing the North East, and open to ideas and suggestions.
His departure for the USA is a sad thing on many levels. The Labour party loses their best speaker in the House of Commons, the North East loses a spokesman, and there has to be a totally unnecessary by election in South Shields.
More importantly, by resigning mid term his decision undermines and diminishes the importance of "just being a backbench MP."
I am firm in my belief that there is no greater responsibility or higher calling than being asked to represent 65,000 people in parliament - fighting for their causes, providing proper representation and advocacy without fear or favour, and totally irrespective of what their political allegiance may be. This is not an easy job to do, whilst retaining your health, your honour, and still being the same bloke down the pub when you started this job. Every MP struggles with the impact of the job on the individual.
Yet I am really disappointed that Miliband chose to resign mid term. He could easily have indicated that he did not intend to stand again in 2 years time, but to to walk away mid term, without good reason, is wrong. Disappointment at not being Leader of the Opposition is not a good reason. To be clear, I was equally disappointed when one of my colleagues Louise Mensch did the same last year.
Not that I agree on everything David stood for - he was part of the Labour Government that bankrupted the country, made the gap between rich and poor grow, saw us rocket down literacy, science and maths leagues, and he is also a committed Europhile, and against David Cameron’s offer of a referendum on our membership of the EU in the next Parliament.
Now this weekend he has resigned from Sunderland FC over their appointment of Paolo Di Canio. As he is moving to the United States in any event you would think he should have resigned anyway - but one thing is clear: there is no place for politics in sport. Why the club would want to get rid of Martin O'Neil, one of the greatest managers in the game, is beyond me.
The Sunderland fans are certainly in for an interesting next 2 months.
Tuesday, 2 April 2013
Monday, 1 April 2013
Northern Rail lay on the trains!
Great news for the County Show: after months of badgering I am delighted that the team at Northern Rail have listened to myself, the County Show team, and the Tyne Valley Rail Users Group, and have decided to lay on more trains to ferry visitors to the Northumberland County Show on May 27
Regular readers will know that we have had problems with Northern Rail in the past:
But ... to their great credit the management team at Northern
- came en masse to the Valley Restaurant at Corbridge Station last August, when we held a great curry based meeting to discuss how to improve the service. They listened and agreed to go away and improve the service
- and they have really tried to take our criticisms on board, and expand the service, particularly on special events like the Corbridge Show.
So there will be 4 Extra Trains ferrying passengers to Stocksfield Station for the County Show on May 27.
Recently I met with the NCC highways team and there will be no problems with pedestrian access to Bywell from the Stocksfield Station. There is no reason not to book your day out to the County Show, and travel by train.
My genuine thanks to Drew and his team at NR for listening and acting.
Update: good piece in the Journal today: http://www.journallive.co.uk/north-east-news/todays-news/2013/04/03/extra-trains-agreed-for-northumberland-county-show-visitors-61634-33106610/
Local Banks take a big step forward today
My dream is a Bank of Hexham or Northumberland working locally, lending locally and ploughing its profits back into the local community.
Sweeping bank reforms begin today with the abolishment of the Financial Services Authority (FSA), which has been replaced with
- the Prudential Regulation Authority (PRA) which will ensure the stability of financial services firms and be part of the Bank of England.
- The Financial Conduct Authority (FCA) is now the City's behavioural watchdog.
The Bank of England has also gained direct supervision for the whole of the banking system
I welcome these changes which should help see an end to boom and bust banking, will help stop disasters like Arch Cru and Equitable Life, and stop the bully banks imposing unfair interest rate agreements on businesses. I have spent 3 years trying to help Arch Cru, Equitable Life and IRSA victims ever since I became MP and I would not want this to happen to anyone else in the future. It has been by far the toughest part of this job that I do.
The regulator changes see the Bank of England - which gains a new governor, Mark Carney, in July - gain much more control over the functioning of the financial system and are the biggest changes to the central bank since it was given its independence in 1997.
The PRA is headed by the central bank's deputy governor Andrew Bailey, and will regulate around 1,700 financial firms. The FCA is headed by Martin Wheatley, who worked at the FSA and was responsible for the review into the Libor rate-rigging scandal at banks.
The FSA was set up 1997 by Gordon Brown, the then-chancellor. But it was roundly criticised for failing to spot the lending boom and subsequent bust and for not curbing the risky trading of banks, which ended up seeing banks like Northern Rock, Royal Bank of Scotland and Lloyds all spectacularly collapse and be bailed out by the taxpayer following the global financial crisis in 2008.
The changes we have brought in over the last 3 years will make it easier
- for small banks to be set up
- with a local slant
- an ability to lend money locally
- and profits going back to that community
Sweeping bank reforms begin today with the abolishment of the Financial Services Authority (FSA), which has been replaced with
- the Prudential Regulation Authority (PRA) which will ensure the stability of financial services firms and be part of the Bank of England.
- The Financial Conduct Authority (FCA) is now the City's behavioural watchdog.
The Bank of England has also gained direct supervision for the whole of the banking system
I welcome these changes which should help see an end to boom and bust banking, will help stop disasters like Arch Cru and Equitable Life, and stop the bully banks imposing unfair interest rate agreements on businesses. I have spent 3 years trying to help Arch Cru, Equitable Life and IRSA victims ever since I became MP and I would not want this to happen to anyone else in the future. It has been by far the toughest part of this job that I do.
The regulator changes see the Bank of England - which gains a new governor, Mark Carney, in July - gain much more control over the functioning of the financial system and are the biggest changes to the central bank since it was given its independence in 1997.
The PRA is headed by the central bank's deputy governor Andrew Bailey, and will regulate around 1,700 financial firms. The FCA is headed by Martin Wheatley, who worked at the FSA and was responsible for the review into the Libor rate-rigging scandal at banks.
The FSA was set up 1997 by Gordon Brown, the then-chancellor. But it was roundly criticised for failing to spot the lending boom and subsequent bust and for not curbing the risky trading of banks, which ended up seeing banks like Northern Rock, Royal Bank of Scotland and Lloyds all spectacularly collapse and be bailed out by the taxpayer following the global financial crisis in 2008.
The changes we have brought in over the last 3 years will make it easier
- for small banks to be set up
- with a local slant
- an ability to lend money locally
- and profits going back to that community
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