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About Me

Darren Winters is a self made investment multi-millionaire and successful entrepreneur. Amongst
his many businesses he owns the number 1 investment training company in the UK and Europe.
This company provides training courses in stock market, forex and property investing and since
the year 2000 has successfully trained over 250,000 people.

Thursday, 5 June 2014

The Queen's Speech

Amid the traditional pomp and ceremony Queen Elizabeth II announced today, June 4, in the House of Lords, the Conservative coalition government’s agenda for the coming session. The Queen’s speech to parliament, her 63rd in total, had an unmistakably blue Tory theme to it with a few social issues being addressed. Prime Minister David Cameron and Deputy Prime Minister Nick Clegg underscored this when they said in a joint statement that the Queen’s speech would be "unashamedly pro-work, pro-business and pro-aspiration." The rationale for following this political trajectory in the forthcoming session is that, “countries rise when their people rise,” said the two leaders of the coalition government.

So for small business there will be less red tape and more access to finance, according to proposal being put forward. Moreover, the Small Business and Enterprise Bill and Employment Bill will be put forward to parliament with the aim of providing small business owners a fairer, more level playing field to compete for £230bn worth of annual public procurement contracts. The proposed bill was endorsed by the deputy director-general of the CBI, Katja Hall. “Changes to make it easier for small businesses to tender for public sector contracts were much needed,” she said.

Additionally, because small business are more susceptible to short term liquidity problems a bill will be put forward to ensure that larger companies settle their outstanding debts promptly with smaller business owners. This move was also applauded by the deputy director-general of the CBI. "Growing businesses rely on cash flow and are too often hampered by late payers, so we back a 'comply or explain' system for payment terms of more than 60 days," said Ms. Hall.

More upbeat tones came from Terry Scuoler, chief executive of EEF, the manufacturers' organization welcomed the battery of pro business policies. The organization “welcomes these pro growth pro work policies,” said Mr Scuoler. "The government must now keep momentum going for the next 11 months and not stall just as the economy is beginning to motor,” he added.

However, perhaps the most controversial part of the coalition’s program is to continue supporting the exploration of shale gas by fracking under private property without the need for being granted permission. There is a consensus amongst geologists around the world of a causal link between theprocess of fracking and small earthquakes.

Also in the spot light was reform to pensions with changes to annuities, which would allow people to totally withdraw their retirement income in one transaction. Recently, the Pension Minister Steve Webb came under fire from the opposition Labour party for saying they should be free to buy Lamborghinis if they wanted to. There was also a separate bill allowing employees to pay into collective pension funds shared with other workers.

In a move to help people back to work there was both the carrot and stick approach. The latter being a benefits cap, which would determine a limit on the amounts the Government could pay out in benefits with the view of making it financially worthwhile to find paid work, rather than remain on benefits. The carrot; working parents would get up to £2,000 of tax-free childcare vouchers and extension of free nursery hours for more disadvantaged two-year-olds has also been outlined. There was a further change to child care arrangements; known as the “Cinderella law”, where parents could be jailed for up to 10 years for subjecting their children to emotional cruelty, including withholding affection.

Onto more social issues there would be free school meals – every infant will get free school meals under Deputy Prime Minister Nick Clegg’s piloted scheme. Regarding the growing problem of modern slavery there would be tougher sentencing under a proposal spearheaded by the Home Secretary Theresa May. Furthermore, do-gooders who step in to help others in trouble will be exempt from prosecution in the event that outcome of their bona fide action is unfavourable.

Workers will be given more rights in a move to tackle the unfairness of zero hour contracts, higher penalties would be inflicted on employers who failed to pay the minimum wage.

With respect to Britain’s relationship with the European Union (EU) the government will be lobbying for reform in Europe and greater autonomy of member states in the union.

Other proposals included voters being given the right to sack their MPs if they have fallen foul of the rules. Golden goodbyes in the public sector will be “limited.”

Nevertheless, Labour opposition leader leader Ed Miliband has criticised the coalition's programme by saying that it did not live up to the scale of the challenges faced by Britain. The proposals fall short of addressing needed reforms on banking, consumer rights, housing, communities and immigration, said the labour leader.

As I write this piece MPs are currently debating the coalitions program in the lower House of Commons.


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