33rd year AADHIKAR
0225 GMT Thursday 06 June 2013
AADHIKAR Media Foundation Editor © Muhammad Haque
Founding News Editor
Shah M Azizul Haque
AADHIKAR Media Foundation established with the publication of AADHIKAR the weekly on Monday 19 December 1980 from London E1 UK.
Saturday, January 10, 2009
KHOODEELAAR! updating the evidence of the lying foundation for the CRASSrail agenda - as BBC aids in the lying
There is NOT one word of independent objectively verifiable justification for the CRASSrail scam....in the BBC item as published today saturday 10 january 2009
KHOODEELAAR! updating the evidence of CORRUPTION at the heart of UK financial regulators!
The following item has been taken from the web site of the London Financial Times
"Ross set to escape action by FSA over disclosure
By Andrew Parker and Michael Peel
Published: January 10 2009 02:00 | Last updated: January 10 2009 02:00
David Ross, the former deputy chairman of Carphone Warehouse, looks set to escape action by regulators over a possible breach of stock market rules.
Mr Ross resigned last month from Carphone Warehouse after belatedly disclosing that he had pledged shares in the mobile phone retailer as security against personal loans.
The Financial Services Authority said yesterday that its rules required company directors to disclose promptly any use of their company's shares as security. Yet, in a decision that some lawyers said was embarrassing for the FSA, the regulator said it would not take enforcement action against directors who had not made the disclosures.
The FSA said "uncertainty" about the requirement to make disclosures was the reason for the amnesty, which will last until January 23.
Mr Ross's belated notification of his collateral arrangements to Carphone Warehouse was quickly followed by similar disclosures by directors of other public companies.
Lawyers predicted another rush of disclosures in the run up to January 23.
The FSA, which has been investigating Mr Ross's conduct, declined to comment on him and Carphone Warehouse.
Mr Ross admitted in December to an "apparent but unintentional" breach of stock market rules. Yesterday he said through a spokesman: "We welcome this clarification by the FSA on this area where there has clearly been widespread uncertainty. This has been borne out by . . . David's experience."
The disclosure of collateral arrangements varies across the European Union and the FSA said the lack of common practice had led to uncertainty in London about the exact requirements.
Mr Ross pledged shares in four public companies where he was a director as security against personal loans.
Lombard, Page 14
Copyright The Financial Times Limited 2009
"
"Ross set to escape action by FSA over disclosure
By Andrew Parker and Michael Peel
Published: January 10 2009 02:00 | Last updated: January 10 2009 02:00
David Ross, the former deputy chairman of Carphone Warehouse, looks set to escape action by regulators over a possible breach of stock market rules.
Mr Ross resigned last month from Carphone Warehouse after belatedly disclosing that he had pledged shares in the mobile phone retailer as security against personal loans.
The Financial Services Authority said yesterday that its rules required company directors to disclose promptly any use of their company's shares as security. Yet, in a decision that some lawyers said was embarrassing for the FSA, the regulator said it would not take enforcement action against directors who had not made the disclosures.
The FSA said "uncertainty" about the requirement to make disclosures was the reason for the amnesty, which will last until January 23.
Mr Ross's belated notification of his collateral arrangements to Carphone Warehouse was quickly followed by similar disclosures by directors of other public companies.
Lawyers predicted another rush of disclosures in the run up to January 23.
The FSA, which has been investigating Mr Ross's conduct, declined to comment on him and Carphone Warehouse.
Mr Ross admitted in December to an "apparent but unintentional" breach of stock market rules. Yesterday he said through a spokesman: "We welcome this clarification by the FSA on this area where there has clearly been widespread uncertainty. This has been borne out by . . . David's experience."
The disclosure of collateral arrangements varies across the European Union and the FSA said the lack of common practice had led to uncertainty in London about the exact requirements.
Mr Ross pledged shares in four public companies where he was a director as security against personal loans.
Lombard, Page 14
Copyright The Financial Times Limited 2009
"
KHOODEELAAR! updater commentary on the abuses of power, albeit this entry is taken from events in the USA city of Baltimore
1248 Hrs GMT London Saturday 10 January 2009:
The Baltimore mayor Dixon facing allegations of theft, perjury etc has a bunch of backers in the Maryland, USA, bureaucracy. They remind instantly o the likes of apologists who praised moronically the holder of the post of mayor in the name of the people of London when the London EVENING nostandard STANDARD joined forces with a vaguely Tories-revivalist assortment of 'critics' to pave the way for a Tory to occupy the post that Livingstone had assumed to be his birth right....
Like Ken Livingstone's ‘backers’ and apologists who started to surface [mainly via the generosity o Ken Livingstone fanatic the London Guardian and its web sites] about a year ago, Ms Dixon’s apologists are using the ‘ethnicity’ card. They are evens saying that Ms Dixon being a favourite of a string constituency , namely ‘African-American women’!
In her case, Ms Dixon is an authentic member of the African-American identify in the Baltimore population.
But in his case, the UNDONE mayor Ken Livingstone lacked both Ms Dixon’s ethnicity and also her gender ID.
But these differences pale into in insignificance wen it is recalled that Ken Livingstone was vigorous in his approval of the Metropolitan Police and of the Brown-fronted Blair regime that is still in ‘place year or so on.
The result was that no matter how many pieces the EVENING nostandards STANDARD published with Andrew Gilligan's by-line SUGGESTING that CORRUPTION had reigned in the Livingstone regime at the London MORON-ALTY, the ‘allegations’ against Livingstone was NOT pursued...
Not long after the Gilligan ‘exclusives’ began to be carried in the nostandards STANDARD, Gilligan found it no longer possible to move to what should have been the logical conclusion of his 'investigations'.
A point soon appeared when Gilligan had to say that he was NOT accusing the Ken Livingstone entourage of corruption at all.….
[To be continued]
The Baltimore mayor Dixon facing allegations of theft, perjury etc has a bunch of backers in the Maryland, USA, bureaucracy. They remind instantly o the likes of apologists who praised moronically the holder of the post of mayor in the name of the people of London when the London EVENING nostandard STANDARD joined forces with a vaguely Tories-revivalist assortment of 'critics' to pave the way for a Tory to occupy the post that Livingstone had assumed to be his birth right....
Like Ken Livingstone's ‘backers’ and apologists who started to surface [mainly via the generosity o Ken Livingstone fanatic the London Guardian and its web sites] about a year ago, Ms Dixon’s apologists are using the ‘ethnicity’ card. They are evens saying that Ms Dixon being a favourite of a string constituency , namely ‘African-American women’!
In her case, Ms Dixon is an authentic member of the African-American identify in the Baltimore population.
But in his case, the UNDONE mayor Ken Livingstone lacked both Ms Dixon’s ethnicity and also her gender ID.
But these differences pale into in insignificance wen it is recalled that Ken Livingstone was vigorous in his approval of the Metropolitan Police and of the Brown-fronted Blair regime that is still in ‘place year or so on.
The result was that no matter how many pieces the EVENING nostandards STANDARD published with Andrew Gilligan's by-line SUGGESTING that CORRUPTION had reigned in the Livingstone regime at the London MORON-ALTY, the ‘allegations’ against Livingstone was NOT pursued...
Not long after the Gilligan ‘exclusives’ began to be carried in the nostandards STANDARD, Gilligan found it no longer possible to move to what should have been the logical conclusion of his 'investigations'.
A point soon appeared when Gilligan had to say that he was NOT accusing the Ken Livingstone entourage of corruption at all.….
[To be continued]
KHOODEELAAR! updating on the evidence of Big Business brainwashing propaganda concentrating on OTT hypes for the word 'Crossrail' in Scotland..
0710 Hrs GMT London Saturday 10 January 2009: The KHOODEELAAR! diagnosis conducted over the past 5 years of the campaign against London Crossrail hole scam, of the behaviour o the Big Business ‘CROSSRAIL’ agenda has included the facts briefly incorporated in our texts of what has been going on in Scotland. Time after time, the peddlers of the agenda have lied. They have lied about transport in Scotland generally. And they have lied about the situation to the existing transport needs in Scotland. And in their lying, they have repeatedly used the word ‘Crossrail’ when the correct word or phrase should have been about the transport situation.. But the fact that they have sued CROSSRAIL instead is to over-stress the alleged importance of Crossrail as the 'solution', the 'answer' to the transport needs in and of Scotland or of the regions concerned in Scotland.… This is a familiar device that KHOODEELAAR! has identified in the propaganda of the London CRossrail couriers...The so-called campaign against a London city airport and their so-called campaign against Crossrail and the related alleged campaign against the Newham Borough council's confusion etc constitute another citable pack of confusion and dishonesty and lack of understanding in the context of the power and the influence that Big Business CRASSrail scam-peddlers exert over ALL the key decision-making place men and place women....
___________
FROM the Glasgow HERALD web site:
Financial crisis threatens transport authority
STEWART PATERSON and CATHERINE FEGAN
NEWS of a financial crisis yesterday brought fresh speculation of the demise of a once powerful transport giant.
Strathclyde Partnership for Transport is now facing a huge budget deficit which could increase fivefold within the next two years.
The current body is a new incarnation of a decades old organisation which has over the years morphed from one persona to another.
advertisement
In years gone by, as Strathclyde Passenger Transport Executive (and Authority) set up in 1968, it had control over buses, trains and the Glasgow Subway, and was the undisputed transport king in the west of Scotland.
Deregulation of the buses in 1980 took one function away, then its rail powers went with the creation of Transport Scotland and regional transport partnerships.
Now it operates the Glasgow Subway, ferries which run between Renfrew and Yoker and between Gourock and Kilcreggan together with a co-ordinating planning role and ensures bus services on unprofitable but socially necessary routes survive.
The changing functions and diminution of powers led to its purpose being questioned less than three years ago, amid concerns that it could be swallowed up by the newly created Transport Scotland, with its headquarters in Glasgow.
However, far from being brought to its knees, SPT has continued to fight for various causes, notably the Glasgow Airport Rail link, Crossrail and it currently has plans to extend the subway beyond the twin tunnel circle city centre and fringes network.
It is still a major employer with 700 staff, a headquarters in Glasgow city centre and a budget of more than £100m.
Ron Culley, SPT chief executive, said: "The thing about transport is it doesn't have boundaries in the way that local authorities do. Inevitably a large element of delivering a transport strategy is regional and we are that agency for the west of Scotland. Transport Scotland exists to deal with the national strategy, and regional transport partnerships do what both national and local government can't.
"Until 2006, SPT was the only transport authority in Scotland and, when the government decided to create others, SPT was the model. Only yesterday John Swinney announced £5m for SPT to develop park and ride."
While fighting for high profile developments, and adjusting to its new role it has faced setbacks and criticism over delivery of key projects. The long-running catalogue of problems includes unfinished projects, escalating costs and poor customer satisfaction.
One is Partick Interchange, a multi-million pound re-development of a Glasgow rail and Subway station that is behind schedule and well over-budget. Work should have finished in February, 2008, but in May last year the cost soared by £6.3m. The final bill to £18.6m.
In April last year SPT was stripped of its right to build its flagship project, the Glasgow Airport Rail Link, one of the Scottish Government's transport priorities, scheduled to be completed for the 2014 Commonwealth Games.
In 2004 and 2005 a series of strikes by Subway staff dented commuter confidence as thousands of frustrated travellers turned their backs on the Underground. Passenger numbers on the Subway in Glasgow slumped by almost 300,000 in 2004, but last year they grew.
In December last year, an announcement came that Crossrail, the often called-for and long awaited scheme described as "Scotland's missing railway link", would not be going ahead. SPT, however, remains confident it is not completely lost, and hopes to re-open discussions with ministers in the near future.
The major blow came when it was relieved of its rail powers and was no longer a signatory to the ScotRail franchise, seen by some as a deliberate move to weaken the organisation.
Glasgow Cathcart MSP, Charlie Gordon, is a former chairman of SPT and someone who recognises its value, but fears for its future. He said: "In due course a government will think what is it for?'. Compared to the old SPT pre-1996, it successor body is held in nothing like the same respect. The biggest challenge is who would run the Subway and Buchanan bus station."
However, he recognises that the functions would have to be delivered by one or various bodies and SPT is in a better position than its sister partnerships across Scotland.
Despite its diminished status, the criticisms and now the financial difficulties, there is still a view that SPT will survive for many years to come, and, certainly within the organisation, it is argued that if SPT didn't exist you would have to invent it.
© All rights reserved. Reproduction in whole or in part without permission is prohibited.
___________
FROM the Glasgow HERALD web site:
Financial crisis threatens transport authority
STEWART PATERSON and CATHERINE FEGAN
NEWS of a financial crisis yesterday brought fresh speculation of the demise of a once powerful transport giant.
Strathclyde Partnership for Transport is now facing a huge budget deficit which could increase fivefold within the next two years.
The current body is a new incarnation of a decades old organisation which has over the years morphed from one persona to another.
advertisement
In years gone by, as Strathclyde Passenger Transport Executive (and Authority) set up in 1968, it had control over buses, trains and the Glasgow Subway, and was the undisputed transport king in the west of Scotland.
Deregulation of the buses in 1980 took one function away, then its rail powers went with the creation of Transport Scotland and regional transport partnerships.
Now it operates the Glasgow Subway, ferries which run between Renfrew and Yoker and between Gourock and Kilcreggan together with a co-ordinating planning role and ensures bus services on unprofitable but socially necessary routes survive.
The changing functions and diminution of powers led to its purpose being questioned less than three years ago, amid concerns that it could be swallowed up by the newly created Transport Scotland, with its headquarters in Glasgow.
However, far from being brought to its knees, SPT has continued to fight for various causes, notably the Glasgow Airport Rail link, Crossrail and it currently has plans to extend the subway beyond the twin tunnel circle city centre and fringes network.
It is still a major employer with 700 staff, a headquarters in Glasgow city centre and a budget of more than £100m.
Ron Culley, SPT chief executive, said: "The thing about transport is it doesn't have boundaries in the way that local authorities do. Inevitably a large element of delivering a transport strategy is regional and we are that agency for the west of Scotland. Transport Scotland exists to deal with the national strategy, and regional transport partnerships do what both national and local government can't.
"Until 2006, SPT was the only transport authority in Scotland and, when the government decided to create others, SPT was the model. Only yesterday John Swinney announced £5m for SPT to develop park and ride."
While fighting for high profile developments, and adjusting to its new role it has faced setbacks and criticism over delivery of key projects. The long-running catalogue of problems includes unfinished projects, escalating costs and poor customer satisfaction.
One is Partick Interchange, a multi-million pound re-development of a Glasgow rail and Subway station that is behind schedule and well over-budget. Work should have finished in February, 2008, but in May last year the cost soared by £6.3m. The final bill to £18.6m.
In April last year SPT was stripped of its right to build its flagship project, the Glasgow Airport Rail Link, one of the Scottish Government's transport priorities, scheduled to be completed for the 2014 Commonwealth Games.
In 2004 and 2005 a series of strikes by Subway staff dented commuter confidence as thousands of frustrated travellers turned their backs on the Underground. Passenger numbers on the Subway in Glasgow slumped by almost 300,000 in 2004, but last year they grew.
In December last year, an announcement came that Crossrail, the often called-for and long awaited scheme described as "Scotland's missing railway link", would not be going ahead. SPT, however, remains confident it is not completely lost, and hopes to re-open discussions with ministers in the near future.
The major blow came when it was relieved of its rail powers and was no longer a signatory to the ScotRail franchise, seen by some as a deliberate move to weaken the organisation.
Glasgow Cathcart MSP, Charlie Gordon, is a former chairman of SPT and someone who recognises its value, but fears for its future. He said: "In due course a government will think what is it for?'. Compared to the old SPT pre-1996, it successor body is held in nothing like the same respect. The biggest challenge is who would run the Subway and Buchanan bus station."
However, he recognises that the functions would have to be delivered by one or various bodies and SPT is in a better position than its sister partnerships across Scotland.
Despite its diminished status, the criticisms and now the financial difficulties, there is still a view that SPT will survive for many years to come, and, certainly within the organisation, it is argued that if SPT didn't exist you would have to invent it.
© All rights reserved. Reproduction in whole or in part without permission is prohibited.
KHOODEELAAR! updating on the dissection of the corrupt BiG Business and allied agenda coming apart in the current 'downturn', 'crisis' -
The so-called campaign against a London city airport and their so-called campaign against Crossrail and the related alleged campaign against the Newham Borough council's confusion etc constitute another citable pack of confusion and dishonesty and lack of understanding in the context of the power and the influence that Big Business CRASSrail scam-peddlers exert over ALL the key decision-making place men and place women..... KHOODEELAAR! is here linking to that particular blog as an exhibition of the intellectual morass in which these elements who claim to be campaigning against Big Business, are..... They are in a morass because they do not possess the intellectual freedom to question all of the problem, only touching on parts of it..…
[To be continued]
By © Muhammad Haque
0620 Hrs GMT London
Saturday 10 January 2008
Duplicity, deception, fraud, greed, lack of regulation, lack o accountability, negligence, corruption are some of the words, concepts and contents of and in the behaviour of the policy-making individuals, personnel, men and women, institutions and power-holders in the UK and the USA that have been highlighted in the CURRENt ‘downturn’. That word, ‘downturn’ itself is suspect. And misleading.
Even the word ‘crisis’ does not convey the full picture. Or even part of the picture.
The picture of the true state and extent of the situation.
Nor does the phrase or the ‘thinking’ behind the use of ‘capitalist crisis’ either.
Nor indeed does any substitute word or phrase.
What is actually happening is something that requires a new phraseology, new intellectual readiness for a new situation.
And what is the situation?
The situation is something nearer the emperor without the clothes... much more than any fancy term that on the face of it tackles the conceptual issues.
The culture of corrupt society is being shown up for what it is. The very foundation of civilisation is being uprooted.
And the corrupt distance maintained by the mainstream propaganda organs in the USA and the UK and in the obliging and the obedient fellow travellers thereof are being shown up for the couriers of millennial lies that they have been...
The one phrase that should be used and is still not being sued is of course J K Galbraith's Military industrial Complex,,
Perhaps JKG’s particular tool itself needs to be updated...
When he devised his analytical tool - the Military Industrial Complex - Galbraith did not have the situation that is now occurring. The unraveling of civilisation as we had been told it was...
The Military Industrial Complex itself has been caught out.…..
[To be continued]
[To be continued]
By © Muhammad Haque
0620 Hrs GMT London
Saturday 10 January 2008
Duplicity, deception, fraud, greed, lack of regulation, lack o accountability, negligence, corruption are some of the words, concepts and contents of and in the behaviour of the policy-making individuals, personnel, men and women, institutions and power-holders in the UK and the USA that have been highlighted in the CURRENt ‘downturn’. That word, ‘downturn’ itself is suspect. And misleading.
Even the word ‘crisis’ does not convey the full picture. Or even part of the picture.
The picture of the true state and extent of the situation.
Nor does the phrase or the ‘thinking’ behind the use of ‘capitalist crisis’ either.
Nor indeed does any substitute word or phrase.
What is actually happening is something that requires a new phraseology, new intellectual readiness for a new situation.
And what is the situation?
The situation is something nearer the emperor without the clothes... much more than any fancy term that on the face of it tackles the conceptual issues.
The culture of corrupt society is being shown up for what it is. The very foundation of civilisation is being uprooted.
And the corrupt distance maintained by the mainstream propaganda organs in the USA and the UK and in the obliging and the obedient fellow travellers thereof are being shown up for the couriers of millennial lies that they have been...
The one phrase that should be used and is still not being sued is of course J K Galbraith's Military industrial Complex,,
Perhaps JKG’s particular tool itself needs to be updated...
When he devised his analytical tool - the Military Industrial Complex - Galbraith did not have the situation that is now occurring. The unraveling of civilisation as we had been told it was...
The Military Industrial Complex itself has been caught out.…..
[To be continued]
KHOODEELAAR! evidential note on the continuing confusion about the over-hyped Brown-fronted strategy on the UK economy
KHOODEELAAR! evidential note on the continuing confusion about the over-hyped Brown-fronted strategy on the UK economy, as contained in this [below] comment published by the London INDEPENDENT newspaper group
James Daley: Cutting interest rates is not the answer
Saturday, 10 January 2009
Not so long ago, a 0.5 percentage point cut in the official Bank of England interest rate would have been a cause for celebration for most people in Britain. Although, admittedly, rate cuts do tend to translate into a reduction in savings rates, most of us in property-mad Britain have much bigger mortgages than we do savings. Hence, a cut in interest rates tends to deliver us much bigger reductions on our mortgages than it costs us in lost interest on our savings.
Over the past few months, however, the traditional rules simply have not applied. As interest rates were cut by another 0.5 percentage points to all-time lows on Thursday, only the minority of borrowers (those with existing tracker mortgages) had anything to smile about. For the majority – those who are still on fixed rate deals, like me – the rate cuts of the past three months have meant nothing.
In years gone by, rate cuts would have fed through to those on fixed-rate deals, by ensuring that lower rates were on offer when those borrowers remortgaged. Over recent months the cost of new borrowing has stayed high – regardless of how much the Bank of England has cut its base rate – meaning that when those of us with fixed rates come to the end of our current deals, we'll struggle to find a new mortgage that is not more expensive.
Meanwhile, the hit to our savings rates is palpable. Since October, the Bank of England rate has been cut from 5 to 1.5 per cent – and most banks have been quick to pass these cuts on to savings customers. I'm now receiving just 2.25 per cent on my HSBC savings accounts, which doesn't even keep pace with inflation.
All this leaves me wondering why the Bank of England bothered to cut rates at all this week. While historically, rate cuts were an effective way of giving a shot in the arm to the economy, that's not the case as long as banks are unable to cut the cost of new mortgages. I'll concede that the recent cuts have been great news for the third of mortgage holders who have tracker deals. However, there's little evidence that this extra cash is being spent on the high street. Instead, I suspect many of those with lower mortgage payments have been using the spare money to pay down their debts quicker, or to bolster their savings.
Meanwhile, the sharp rate cuts have had other negative side effects. For example, annuity rates have fallen, meaning pensioners have been forced to accept a worse deal on their retirement income. Sterling has also collapsed since September – meaning travel for Brits abroad is prohibitively expensive.
Stimulating the economy is now a task that is out of the Bank of England's reach – but if it persists with an agenda of further rate cuts, then it can still cause hardship for British savers, pensioners and travellers.
The Government is now the only party with the power to turn the economy around – and now is the time to act. Helping to increase liquidity for the banks, investing in job creation and cutting taxes where necessary are all measures that can help. One thing is for sure – relying on the Bank to save the economy with rate cuts is no longer an option.
James Daley: Cutting interest rates is not the answer
Saturday, 10 January 2009
Not so long ago, a 0.5 percentage point cut in the official Bank of England interest rate would have been a cause for celebration for most people in Britain. Although, admittedly, rate cuts do tend to translate into a reduction in savings rates, most of us in property-mad Britain have much bigger mortgages than we do savings. Hence, a cut in interest rates tends to deliver us much bigger reductions on our mortgages than it costs us in lost interest on our savings.
Over the past few months, however, the traditional rules simply have not applied. As interest rates were cut by another 0.5 percentage points to all-time lows on Thursday, only the minority of borrowers (those with existing tracker mortgages) had anything to smile about. For the majority – those who are still on fixed rate deals, like me – the rate cuts of the past three months have meant nothing.
In years gone by, rate cuts would have fed through to those on fixed-rate deals, by ensuring that lower rates were on offer when those borrowers remortgaged. Over recent months the cost of new borrowing has stayed high – regardless of how much the Bank of England has cut its base rate – meaning that when those of us with fixed rates come to the end of our current deals, we'll struggle to find a new mortgage that is not more expensive.
Meanwhile, the hit to our savings rates is palpable. Since October, the Bank of England rate has been cut from 5 to 1.5 per cent – and most banks have been quick to pass these cuts on to savings customers. I'm now receiving just 2.25 per cent on my HSBC savings accounts, which doesn't even keep pace with inflation.
All this leaves me wondering why the Bank of England bothered to cut rates at all this week. While historically, rate cuts were an effective way of giving a shot in the arm to the economy, that's not the case as long as banks are unable to cut the cost of new mortgages. I'll concede that the recent cuts have been great news for the third of mortgage holders who have tracker deals. However, there's little evidence that this extra cash is being spent on the high street. Instead, I suspect many of those with lower mortgage payments have been using the spare money to pay down their debts quicker, or to bolster their savings.
Meanwhile, the sharp rate cuts have had other negative side effects. For example, annuity rates have fallen, meaning pensioners have been forced to accept a worse deal on their retirement income. Sterling has also collapsed since September – meaning travel for Brits abroad is prohibitively expensive.
Stimulating the economy is now a task that is out of the Bank of England's reach – but if it persists with an agenda of further rate cuts, then it can still cause hardship for British savers, pensioners and travellers.
The Government is now the only party with the power to turn the economy around – and now is the time to act. Helping to increase liquidity for the banks, investing in job creation and cutting taxes where necessary are all measures that can help. One thing is for sure – relying on the Bank to save the economy with rate cuts is no longer an option.