Brexit: Labour has plans to counter the non-existence “Moving-On” plans of the Tories!

yougov-poll-on-voting-intentions-in-different-brexit-scenarios-790x395

Its days after and just two weeks after leaked Memo that said how little plans the Conservative Party or Tories Government had. So this report is a answer to that. Like the certain quote of the memo:

“The divisions within the Cabinet are between the three Brexiteers on one side and Philip Hammond/Greg Clark on the other side. The Prime Minister is rapidly acquiring the reputation of drawing in decisions and details to settle matters herself – which is unlikely to be sustainable. Overall, it appears best to judge who is winning the debate by assuming that the noisiest individuals have lost the intra-Government debate and are stirring up external supporters” (Sky News, 2016).

When the matter comes into the light like this; it’s fruitful to see that the major Opposition Party have now showed alternative path or at-least thought things through where they have propositions to a counter-party that doesn’t care for fulfilling their mandate and exercising the vote of the people.

Theresa May, was voted into the Parliament to be MP and not a PM. Therefore she might forget how to get the popular vote and get consensus. Here is one set of ideas and suggestions to how to make amends of the Brexit. This is worth listening to and also reading to get ideas of how to fix the problems of the European Union and the United Kingdom. Take a look!

Infrastructure Policy:

“So what should be done? Brexit offers British policy-makers the opportunity to step back and examine the future direction of infrastructure and housing policy. The Autumn Statement should be used signal a change in direction towards an economic strategy which uses infrastructure and housing policy as a tool to boost growth and productivity in regions that have suffered a lack of investment” (Moving On, P: 12, 2016). “Ignore this problem and it is clear that unity in our divided country will be even further away. Accept the challenge, take steps to rebalance investment, and the United Kingdom has half a chance at sticking together“ (Moving On, P: 14, 2016).

Working Policy:

“First, he should do all that he can to stimulate investment in innovation. Coming up with new ideas, products and services which the rest of the world wants to buy is the best way we can remain internationally competitive post Brexit without seeking to pursue an alternative strategy, advocated by those on the Right, of making our labour markets ever more flexible and embarking on a race to the bottom on people’s terms and conditions of work. Innovation will also help improve UK productivity which is 18% below the G7 average, the largest gap since 1991 when the ONS started collecting such data” (Moving On, P: 19, 2016). “Limited digital connectivity is one of the biggest barriers to business and Ofcom estimates that 1 in 5 small business premises will still not be able to access superfast broadband without further action from government. The Universal Service Obligation – which sets a target of all homes having 10MB per second speeds by 2020 is nowhere near ambitious enough – a more ambitious target and timeframe for delivery should be set if Britain is to be at the forefront of the fourth industrial revolution” (Moving on, P: 22, 2016). “The biggest boost he could provide is by declaring that the Government’s goal during the Brexit negotiations is to continue with the UK’s membership – not just access to – the European Single Market, as I set out in my speech to the Centre for Progressive Capitalism last month” (Moving on, P: 24, 2016).

Skills/Education:

“The National Audit Office for instance has recommended that the Department of Education should set out the planned overall impact of its apprenticeships policy on productivity and growth, along with short-term key performance indicators to measure the programme’s success. The Government must also adequately fund welfare-to-work in the Autumn Statement, get a grip on inclusive regional growth and ensure that welfare-to-work helps those in areas with high unemployment and not just those who find it easiest to get back into work. As the Science and Technology Select Committee has said, the Government should now publish its Digital Strategy policy without further delay and include goals for developing better basic digital skills and increasing digital apprenticeships as well as providing a framework through which the private sector can more readily collaborate with communities and local authorities to raise digital skills in local SMEs” (Moving On, P: 30, 2016).

Welfare:

“The ‘digital skills gap’ meanwhile has been estimated as costing the economy £63 billion a year in lost additional GDP. Also holding us back from the high tech economy of the future is the lack of new engineering and technology recruits meeting employers’ expectations. We are also facing an engineering ‘retirement cliff’ with the average engineer currently in their fifties.18 According to the Engineering UK 2016 report, engineering employers have the potential to generate an additional £27 billion per year from 2022 but only if we can meet the forecasted demand for 257 000 new engineering vacancies.19 And these are exactly the type of professions we need to build our industries and export to the world after we leave the European Union” (Moving On, P: 28, 2016).

Welfare II:

“Firstly, he must reverse cuts to Universal Credit (UC) and restore confidence after the programme’s chaotic introduction so it genuinely provides an incentive to work. Secondly, the Chancellor has to do more to help parents join or re-join the workforce and give every child the best start in life. We should move towards a system of universal free childcare for all working parents of pre-school children, starting with free childcare for all two year olds” (…) “There is also a worrying picture on pay progression too. Universal Credit was intended to help workers move onto higher pay levels, as well as get a job in the first place. But as the Resolution Foundation has said “implementation realities scuppered the ambition of the design”. The likely result is that UC will leave an increasing number of workers stuck on the minimum wage when they should be looking to earn more” (Moving On, P: 32-34, 2016).

Championing Key Sector:

Because Brexit austerity could last beyond a conventional economic cycle, it will require fundamental policy change and supply-side efforts to counteract. Take, for example, the risks now hanging over the financial services sector – which represents 12% of our economic output, nearly two million jobs in the UK and which generates £67billion of revenues for the public purse. It’s not simply a case of having an ‘industrial strategy’ to play to this core comparative advantage for the UK. We will need to negotiate long term access to EU markets where a whole series of product lines face the prospect of being banned and outlawed. Should this turn out to be the case, and the cluster of specialisms in UK financial centres erode with core competences like clearing relocating to Frankfurt or to New York, then we lose a vital skills infrastructure as well as year by year corporation and income tax revenues” (Moving On, P: 38, 2016).

“So we should test the Autumn Statement for whether it counteracts the looming Brexit austerity and whether it can deliver access and opportunities for sectors under threat, like financial services. Yes, there are reforms still needed to many of the tax regimes in which the financial services sector operate. Some lucrative practices need loopholes closing – for instance in the taxation of financial spread betting or old Osborne legacies such as the wasteful ‘shares for rights’ dodge that is rife for abuse” (Moving On, P: 2016).

This here shows the proofs that the Labour Party can have things that works for the nation, if they get people to believe it, but the simplistic dogma of the Tories is sold to the commoners like coke and cheddar cheese, while the Labour Party message is a rock to hit your head instead of being served feasible to the public. Therefore the Labour has to change their ways of sending their message and make sense to the ones blinded by the PM May and her deceptive tone of arrogance from White Hall. Peace.

Reference:

Alison McGovern MP, Chuka Umunna MP, Shabana Mahmood MP, Rachel Reeves MP & Chris Leslie MP – ‘Moving on – A Labour approach to the post-Brexit economy’ (November 2016)

Sky News – ‘Leaked memo shows Government’s lack of Brexit plans’ (15.11.2016) link: http://news.sky.com/story/leaked-memo-shows-governments-lack-of-brexit-plans-10658063/revision/1479197701

Uganda: Mak Visitiation Committee 2016 – Inaugural Press Statement (22.11.2016)

mak-22-11-2016-p1mak-22-11-2016-p2

#ThisFlag Letter on the Bond Notes (07.11.2016)

thisflag-letter-07-11-2016

Congo signs over potential $880m of royalties in Glencore project to offshore company belonging to friend of Congolese President (14.11.2016)

rdc-fleurette-kcc-royalties-p1rdc-fleurette-kcc-royalties-p2rdc-fleurette-kcc-royalties-p3rdc-fleurette-kcc-royalties-p4

RDC: Fleurette Group Statement “re: KCC Royalties” (15.11.2016)

fleurette-group

KINSHASA, Democratic Republic of Congo, November 15, 2016Fleurette Group notes the statement made by Global Witness today concerning the sale of royalties from Katanga’s KCC project by Gecamines to a Fleurette-owned entity. The Global Witness statement is highly misleading, based on factually inaccurate information designed to manipulate data in an effort to undermine a legitimate transaction.

Fleurette Group categorically refutes the allegations by Global Witness that the DRC economy has somehow lost money through the sale of the KCC royalty stream. The transaction between Africa Horizons Investment Limited (“AHIL” – which is a 100% Fleurette subsidiary) and Gécamines. With hindsight, Gécamines negotiated a highly lucrative transaction to the benefit of the DRC.

Additionally, Global Witness’s financial calculations are amateurish to the point of bogus. They do not follow even the basic valuation techniques used by all professionals in this field, and fail to include further discounts (such as withholding tax payments) that are both obvious and important. Global Witness has no excuse for making these mistakes. The manipulation of data seems wilful in nature, and designed to support a pre-ordained conclusion. It is difficult not to infer that Global Witness is trying to mislead journalists, the general public and other stakeholders at Fleurette’s expense.

DRC made net profit from deal, Fleurette a net loss

The transaction ultimately resulted in Gecamines safeguarding value for the DRC economy and Fleurette making a considerable loss due to the subsequent collapse in commodity prices and suspension of KCC’s operations. This is because Gecamines sold the royalty right before operations at KCC were suspended, meaning Fleurette had paid in full for a royalty stream that that ceased soon afterwards. While Fleurette was left unable to recoup its investment, Gecamines received full value for it.

This should not come as a surprise. Fleurette recognizes this as inherent industry risk in the mining sector. KCC, meanwhile, was well advised. It carried out its own verification, taking reasonable measures in accordance with its procedures to satisfy itself the sale was authorized by Gecamines and that there was an underlying basis for the sale. Independent international financial institutions advised both sides, and the transaction was priced in accordance with the valuations provided to the parties. Global Witness does not acknowledge these facts. Instead, despite these facts, it attempts to crititicize a deal which demonstrably and unequivocally benefited both Gecamines and the DRC.

Global Witness mistakes

Global Witness’ statement implies that KCC royalties were worth $880m to Fleurette. By referencing the Independent Technical Report of March 2012 prepared by Golder Associates, Global Witness was duty bound to provide an accounting and valuation in a bona fide manner, which they did not. Global Witness’ implication that the royalties were worth $880m shows a lack of understanding of the most basic business and accounting principles of Discounted Cash Flow and Net Present Value, used to value royalty streams (as well as a host of other assets that are expected to provide value into the future).

Even though Golder Associates provide a very conservative 10% discount factor to their valuation of the KCC project (including royalty cashflow streams they expected to be generated), Global Witness applied 0% discount when expressing the worth of the royalty stream in their statement. If they had applied an industry-standard 15% discount factor, the cashflow they misleadingly referred to would have determined a $245m valuation for the royalty right until 2030.

There is another valuation factor that Global Witness has omitted entirely, even though it hugely impacts the assessment of value for the KCC Royalty. Crucially, AHIL’s royalty right will almost certainly fall away in on 1 March 2019. As per the terms of the original KCC JV Agreement between Katanga, Gecamines and KCC (all publicly available), Gecamines has a “Replacement Reserves” obligation which requires it to deliver 4m tonnes of copper reserves and 200,000 tonnes of cobalt to KCC. If it doesn’t, under the terms of the agreement, Gecamines needs to pay $285 million to compensate KCC. If it is not able to do that, the JV Agreement requires the repayment to be made by way of set-off of the royalty, ie KCC will withhold the royalty until that debt has been paid. In short, the royalty that Fleurette paid for will not be paid to Fleurette from 1st March (assuming KCC is back in operation and paying royalties), but will be used to cover off a pre-existing Gecamines debt.

Global Witness also intentionally omitted the annual rental deduction of $1.2m from their calculation and 10% withholding tax on royalties.

Questions for Global Witness

Unfortunately for AHIL and KCC, the project ceased production in September 2015. AHIL does therefore not expect to receive any more royalties, and will have suffered a huge loss as a result – as royalties paid up to this point were far less than the amount AHIL paid for the royalties. This is an example of how industry risk can play a major part in the life of a DRC project in addition to the broader risks associated with operating in a country like the DRC.

Global Witness needs to be held to account on this occasion given the unnecessary damage this misleading report will do to the DRC’s extremely delicate economy and the reputation of Gecamines as well as Fleurette, which is leading the recovery effort following the collapse of global commodity prices. In essence, this was a good deal by Gecamines, independently verified by multiple stakeholders, which safeguarded value for the DRC, but a poor deal for Fleurette. It is deeply regrettable Global Witness is publishing such inaccurate information.

-Ends-

mines-october-2016-rdc

Media enquiries

Powerscourt

+44(0)20 7250 1446

fleurette@powerscourt-group.com

About Fleurette – http://www.fleurettegroup.com / LinkedIn  / Twitter

The Fleurette Group of Companies (“Fleurette”) is an entrepreneurial business with significant investment in diverse sectors, including natural resources, infrastructure, agriculture and technology. Fleurette has substantial investments and operations in the Democratic Republic of Congo (DRC). The parent company of the group, Fleurette Properties Limited, a Dutch resident company, is owned by Line Trust Corporation Limited strictly and solely as trustees of the Ashdale Settlement, a trust established in 2006 for the benefit of the family of Dan Gertler. Mr Gertler is a citizen and resident of Israel and the DRC (and honorary counsel to the DRC) and is committed to developing the country’s natural resources and infrastructure, while investing in the Congolese people and their communities.

Fleurette has a proven track record of successful co-operation with diverse parties, including the DRC State-owned mining company Gécamines, and to date has brought more than USD $7 billion of investment into the DRC, on top of its USD $2 billion in private investment. As a result, Fleurette’s subsidiaries and partnerships support around 30,000 jobs in the DRC and are amongst the DRC’s leading taxpayers, contributing significant revenues to the State.

Fleurette is also a major contributor to social development in the DRC through the Gertler Family Foundation (GFF) and through direct investment in social infrastructure. The GFF is the largest charitable organization in the DRC, funding more than 50 programs and projects across the DRC, which help tens of thousands of Congolese every year. These include rebuilding key hospitals, notably the Kisangini “Hospital du Cinquantenaire”; supporting the Operation Smile campaign in Lubumbashi and Kinshasa; rebuilding Blaise Pascal School in Lubumbashi; and supporting the Lubumbashi Zoo.

Opinion: Leaked Memo shows that PM May and her Cabinet has a true disregard for the Brexit!

may-on-brexit

There are some days that just have to grow upon you, as the news we’re coming on the matter, Davis Davis, the Member of Parliament who was named and appointed to be the Brexit Minister of Davis Michael Davis. As long as you have loudmouth Foreign Secretary for the United Kingdom Boris Johnson, another Brexiteer who hasn’t delivered anything that matter on the Article 50 of the Lisbon Treaty or anything else.

So the Conservative Party under Prime Minister Theresa May has a Cabinet that doesn’t even consider the Brexit vote and the public wish to leave the European Union. Something the backbenchers of the Conservative Party didn’t fight for anyway. Except for the ones who renegaded against the than PM David Cameron.

So the months has gone, and September there we’re even reports that Brexit Minister Davis Davis we’re living the life of lavish MP, but not acting upon the election that offered him the job in the government.

So he has been a ghost and undetermined person. As shown with the words of the leaked memo yesterday: “The divisions within the Cabinet are between the three Brexiteers on one side and Philip Hammond/Greg Clark on the other side. The Prime Minister is rapidly acquiring the reputation of drawing in decisions and details to settle matters herself – which is unlikely to be sustainable. Overall, it appears best to judge who is winning the debate by assuming that the noisiest individuals have lost the intra-Government debate and are stirring up external supporters” (SkyNews, 2016).

2016_36-brexiteers-webr

The PM May has to sort out her house and make sure the dishes is washed inside the kitchen before the food is served. Brexiteers hasn’t seemed to pushed hard if the dishes are just staying dirty and not worked on. And the PM May doesn’t seem interested in change the state of affairs, because she want to steer the ship herself without listening to the cabinet, that will be a good leader, but a selfish one it seem.

“Individual Departments have been busily developing their projects to implement Brexit, resulting in well over 500 projects, which are beyond the capacity and capability of Government to execute quickly. One Department estimates that it needs a 40% increase in staff to cope with its Brexit projects. In other words, every Department has developed a “bottom up” plan of what the impact of Brexit could be – and its plan to cope with the “worst case”. Although necessary, this falls considerably short of having a “Government plan for Brexit” because it has no prioritisation and no link to the overall negotiation strategy” (SkyNews, 2016).

So there is no distinctive negotiation strategy for the Brexit, as the Prime Minister Theresa May already proven to be selfish and wanting to take the decisions on her own, instead of listening to the ones she has appointed for her cabinet. This proves the little value the PM has in her own as she doesn’t care for listening to Secretary for Brexit Davis or anybody else.

brexit-united-kingdom-uk-and-european-union-eu-export-and-import-total

Departments are struggling to come up to speed on the potential Brexit effects on industry. This is due to starting from a relatively low base of insight and also due to fragmentation – Treasury “owning” financial services, DH-BEIS both covering life sciences, DCMS for telecoms, BEIS most other industries, DIT building parallel capability focused on trade etc” (SkyNews, 2016).

Another one of the nonsense that the Departments are not focused or working together to know the effects of an actual leaves the European Union and the trading with the Member States of the EU. How the Departments are effected by Brexit that should be checked and made sure by the Ministers and through the back-channels to make sure the Industry are getting a good as possible place with their trade. Instead of finding out the real potential of the industrial production and the needed changes that might be there after the actual Brexit.

“Industry has two unpleasant realisations – first, that the Government’s priority remains its political survival, not the economy – second, that there will be no clear economic-Brexit strategy any time soon because it is being developed on a case-by-case basis as specific decisions are forced on Government” (SkyNews, 2016).

So another statement showing the disgraceful attempt of silencing internal movement of the Brexit; they didn’t show any clear economic-Brexit strategy, but the decisions are not made as there is apparently no will for the Cabinet and Conservative Party Government and the PM May. That shows the disrespect the Government that been made after the PM David Cameron showed grace and stepped down. Because he had no real plan to leave the Union he had cooperated so well with during his years in Cabinet and in Parliament.

Peace.

Reference:

Sky News – ‘Leaked memo shows Government’s lack of Brexit plans’ (15.11.2016) link: http://news.sky.com/story/leaked-memo-shows-governments-lack-of-brexit-plans-10658063/revision/1479197701

Misappropriate funds instead of feeding the hungry in the districts; 10th Parliament greedy MPs only see their bellies and not that they represent the ones that are starving!

kayonza-parish-isingiro-5-nov-2016

Something is just wrong, something is seriously wrong, as the misappropriated funds and public coffers in Uganda; there is something sinister going on. It is okay that a government and administration cannot make it rain or make sun shine, but they can make sure the people together with public gathering technics make sure when there is plenty of water. It’s in tanks and other barrels until needed for the crops and enough for drinking. This is practices mankind has done since the Roman Empire. It’s not spectacular, but convenient.

On the other hand, since Roman Time, there has always been corruption, and men has always been corrupted by gold, silver and sparkly things. So as the citizens are hungry, the starvation isn’t only in Isingiro, where the starvation is dangerously high, there are other districts severely hit by the draught and the lack of rain.

Hunger in the districts:

Already, 1.3 million Ugandans, the minister said, need urgent food aid and so far, 600kgs of maize flour and 300 kilogrames of beans have been sent to Isingiro Districts where some people have starved to death” (…) “According to Mr Kibazanga, 65 per cent of people in Karamoja sub region have one meal or half a meal in a day as opposed to three meals while 35 per cent of the population in the districts of Katakwi, Amuria, Kumi, Bukedea, parts of Serere and Kaberamaido are in the same phase with Karamoja sub-region” (…) “Mr Kibazanga also revealed that 50 per cent of the people of Koboko, Yumbe, Moyo, Maracha, Arua, Zombo, Nebbi, Adjumani, Amuru, Nyoya, Gulu, Pader, Lamwo, Kitgum, Agago, Soroti, Ngora, Amolatar, Pallisa, Butaleja, Rakai, Isingiro and Tororo have access to a meal a day. The districts of Oyam, Apac, Kiryandongo, Masindi, Bulisa, Kyankwanzi, Nakaseke, Kiboga, Mubende, Luwero, Kyegegwa, Sembabule, Kiruhura, Lwengo, Ntugamo, Kamuli and Kibuuku are in a minimal phase of food insecurity, meaning the people can still afford all meals though stocks are running low” (Tajuba, 2016).

So when the Government knows about that and they continue with their inappropriate idea of giving new cars for the Members of Parliament, something that the 10th Parliament MPs have been waiting for. It is in their duty and now getting a free-ride for their services; this they do while districts upon districts lack food and water, while they are starving… the reckless thieving of state coffers instead of supplying needed food from the budgets !

april-cars Uganda

New Cars for the MPs:

“Parliament has received a release of Shs25 billion for payment of vehicle grant to members of parliament. The money will cater for at least 250 MPs out of 431. According to parliament’s director of communcations Chris Obore, the Parliamentary Commission will first pay new MPs. The new MPs to get first are those without election petitions in court. The old MPs will be paid when the Commission gets a new release. It emerged recently that each Member of Parliament will bag Shs200m instead of Shs150m as had earlier been budgeted by the Parliamentary Commission. This means Parliament will spend more than Shs85 billion on all the legislators” (the Insider, 2016).

As much as there are money in the system for unnecessary expenditure from the 10th Parliament, that with no thought or consideration thinks about the consequences for the once they are supposed to represent. They apparently wish to become greedy like the former EX-MPs who we’re taken to court and charged with massive thieving, though where the money really went nobody knows. They surely pocketed some of it, but the where it we’re supposed to go, is not hard to know. Because the pay-outs we’re to ghosts, ghosts are invisible creatures not of the living.

cairo-2-edited

Pension Scam:

“Anti Corruption Court in Kampala has found three former top employees of ministry of public service including Jimmy Lwamafa, the ex-permanent secretary guilty of all the ten charges slapped against them by the state.  Presiding judge, Lawrence Gidudu summarised in his ruling that the fraud to steal the Shs88.2 billion was hatched in the public service, smoothened in finance ministry and executed in Cairo bank where the money was finally paid out to ghost pensioners” (Ndagire & Wesaka, 2016).

So the living in the districts are either this days getting screwed by their own representatives of the 10th Parliament, as they are more keen on perks and riches than helping the citizens they represent, that is what their President Museveni has been teaching for three decades now. So the people are starving and not getting valuable food or needed water for their daily life, while the MPs are riding in flash, posh cars in Kampala. That is happening while their predecessors are being detained for thieving from coffers to bail-out ghost pensioners, while the results of the matter are not told where the money went.

We can wonder since it is not told, that somebody did their bidding and stole the monies for the bigger plan of their President, and when they we’re not needed to do their service they gotten taken to court. That wouldn’t be surprising as that has happen before in the times udner the Executive Museveni. It’s just new names who done similar things in the past. The billions of shillings are levels of stealing while the hunger is running rapid is worrying; together with the wishes of lavish lifestyle by the men who supposed to represent them. Instead they represent themselves and not using their powers and reach to service the famine ridden districts, because they only see their own tummy. Peace.

Reference:

Ndagire, Betty & Wesaka, Anthony – ‘Court finds Lwamafa, Obey, Kunsa guilty of fraud’ (11.09.2016) link: http://www.monitor.co.ug/News/National/Court-Lwamafa-Obey-pension-scam-Kunsa-guilty-fraud/688334-3448762-n2qb3oz/index.html

The Insider – ‘NEWS MPs receive Shs25 billion for cars’ (08.11.2016) link: http://www.theinsider.ug/mps-receive-shs25-billion-for-cars/#.WCindPnhDIU

Tajuba, Paul – ‘Millions of Ugandans in 45 districts starving, says govt’ (04.11.2016) link: http://www.monitor.co.ug/News/National/Millions-of-Ugandans-in-45-districts-starving–says-govt/688334-3440478-8uj0buz/index.html

PepsiCo CEO Indra Nooyi Statement on Trump Victory (10.11.2016)

pepsico-statement-on-trump