Time we unite and become one!

Posted 6 Dec 2012 by Walaa Idris

I am not going to do what every blogger, journalist, political commentator and economic advisers did and write an analytical blog on the good, the bad and the ugly of the 2012 Autumn Statement – the fallout from it and the rest of it…..!

As I am sure those who read this blog have ‘since yesterday’ read and heard every politico economic angle there is on the Autumn Statement and the responses to it. And I suspect those comments and remarks will continue into the New Year.

So, in this post, you won’t be reading that Chancellor George Osborne shocked the nation by delivering a midyear statement without one word being leaked before he stood up to deliver in the House of Commons. Nor will I comment on the Shadow Chancellor Ed Balls, stumbling of the blocks and never recovering from his trip. Then spending all of yesterday and most of today explaining that he has a speech impediment – which by the way many (myself included) did not know about or even notice until he mentioned it – but it gave him an opportunity to blame every Tory under the sun and accuse them of being unkind to him!

Hay I am not even going to talk about the cancelled 3p fuel tax hike or the increase of the basic rate tax threshold or my favorite the 21% corporation tax, the lowest in the western world !!!!

What I want to talk about is how serious our times are, and serious times require serious measures, resolve and ideological unity, such as the one currently governing our country.

A few weeks ago Prime Minister David Cameron speaking at the CBI Conference said Britain was in the “Economic equivalent of war”!

He was right, we are at war!

This economic crisis is our twenty first century war. No bullets, no tanks, no invading army or young men sent away to fight a physical enemy. But nonetheless it is a war, our war. It’s a conflict where people are losing their self-worth, their possessions and in some cases their health and maybe even their lives! This battle like all other fights before it has deep lasting damages to people young and old, able and disabled, rich or poor.

Our history is littered with wars, some we won and others we lost. But they all taught us one thing, regardless of the enemy and his strength; we only win when we are united and working collectively as one team. This war might be new and different in its nature but to win it the method is old and the same, unity!

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If not now, then when!?

Posted 8 Dec 2011 by Walaa Idris

If not now then when

A wise man once said: “An error does not become a mistake until you refuse to correct it”

Before we even get to the language and cultural barriers, the Euro experience was doomed from the start, how can 17 different nations with varied economies operate under a one size fits all interest rate and expect not to tumble!? The whole thing was madness from the word go!

Yesterday the S&P placed the EU’s AAA rating on negative watch and today the Eurozone leaders are meeting to discuss how to save the Euro. Even though Britain was lucky to not get sucked in the Euromania, still, what happens to the Eurozone will directly and indirectly affect the UK. However, with all the financial challenges we are facing, we are fortunate in that we are in a better position than Portugal, Ireland, Greece, Spain and Italy.

David Cameron’s determination to stand up for our national interest and in particular the best interest of the City of London is a great first move. But because opportunities such as this don’t come around too often, now is a good time for Britain to become bold and establish a new relationship with Europe, a relationship where our interests are protected against the current and emerging Eurozone markets.

Another wise man said: “When written in Chinese, the word “crisis” is composed of two characters. One represents danger and the other represents opportunity.”

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In this economic storm, more than ever before, we need to be proactive not reactive

Posted 17 Nov 2011 by Walaa Idris

Yesterday’s news, that more than one million 16 – 24 year old are unemployment is disturbing and a cause for great concern, first for the obvious reasons – that many of our young people and the future generation being out of work is demoralizing and soul destroying and secondly, because it’s a very unfair way to being adulthood.

It is easy to blame the EU and its regulations, foreign workers and their appetite for work and of course the coalition government as Labour continuously likes to remind us ‘Government is cutting too fast and too deep… blah, blah, blah’ but none of that is the reason!

The harsh reality is that times are very hard and our kids are caught in the middle of a very bad storm. The economy is barely limping through, the markets and those who can invest are unsure where to or if they should at all invest – after all, it is cheaper to just sit on your money these day. Yes, there is money out there and lots of it, but the uncertainty of the markets and the overall global economy is making many people reluctant to part with any money unless they have to.

Britain is no longer a leading manufacturing nation and harping on about our lost manufacturing is synonymous to losing a child and being blessed with another one, yet you incessantly compare the new child to the dead one! Its short sighted, cruel and unfair. The UK did not lose manufacturing but gained a great service industry. If we make our mind to be the best service providers and the hub of the world’s Service Industry – and by the way we really are great at services – our economy will flourish again.

Just as our manufacturing base is not what it used to be, so are our children, what motivated their parents and grandparents at their age does not motivate them. Therefore, instead of going against the grain, why not follow the trend.

Historically, as a nation, we imported outsiders to do the jobs we either don’t like to do or could not do. But the same people who grew up with nurses, teachers and rail workers form the commonwealth are now complaining that their kids and grandkids don’t want to be the barista in Pret A Manger!

Did anyone ask the youth of today what they want, need and aspire to be? Or do we all think, “just as I went to school got any job so should you!”

We also need to keep in mind that employers today are spoiled for choice and that is reflected in their workforce. A Spaniard, a Czech or a Lithuanian might not speak perfect English, but you can guarantee anyone that takes the time to travel to explore opportunities knows a thing or two about working outside their comfort zone, that ability coupled with the hunger to succeed, comes across in interviews.

By not giving our young the motivation needed and build their confidence we are selling them and us short.

A headline like “Foreign workers take yet more UK jobs as number of Britons in work plunges …” does not help build confidence and gives the wrong motivation. We need to be proactive find solution not reactive by taking the easy way-out and quickly jump on the blame bandwagon.

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Give me a steady slow economic growth any day of the week and twice on a Sunday!

Posted 1 Nov 2011 by Walaa Idris

I can understand bickering and sniping at slow growth a year or even nine months ago, but today, after all that is happening around us, next door in Europe and across the Atlantic in the US, neither is acceptable.

Last year George Osborne stressed that, although expectations have been downgraded recently, the government’s monetary policies are “the rock of stability upon which any sustainable recovery depends”. It was true then and still holds true today.

Our recovery is frustratingly slow but it is sustainable and on the right direction. In other words, it is real, while we are also on track to reducing the crippling deficit.

After decades of mad and manic spending, it’s only natural to reject austerity measures and resent those who impose them on us, but these measures are the better of two evils – if in doubt just take a quick look around! And, although the last government was mostly to blame when it comes to mismanagement and poor direction, we, the public are also blamable.

Many were sucked into the culture of something for nothing and maxed Credit Cards, owned 100 plus percent mortgage properties, lived from overdraft to overdraft and on personal loans. For years many spent money they did not have on things they could not afford mostly for personal gratifications….

And unless we want to burden the future generations with our debt, the Osborne formula is the way forward and any growth is welcome news.

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