Bank of England avoids interest rate cut as Carney bows out

first_imgThe Bank of England has held off from an interest rate cut despite a surge in expectations that it would reduce rates for the first time in four years. Show Comments ▼ It expects growth to pick-up to 1.75 per cent in 2022, although this is lower than a previous two per cent estimate. whatsapp The Bank said interest rate policy in the short term “may need to reinforce the expected recovery of UK GDP growth, should the more positive signals from recent indicators… not be sustained”. However, the Bank slashed its longer-term growth predictions in its report into the health of the economy. The move reflected Britain’s adjustment to life outside the EU and the long-running productivity crisis catching up with GDP. Economy must prove Bank decision right The Bank said that “a further decline in Brexit uncertainties and the government’s announced spending measures” would support short-term growth, reducing the case for lowering rates. Every other member voted to hold. That is despite recent dovish comments from Carney and committee members Gertjan Vlieghe, Silvana Tenreyro. Today’s decision came even as the Bank slashed its long-term growth forecasts for the UK economy to account for Brexit disruption and Britain’s productivity crisis. Going into the meeting, traders reckoned there was a 45 per cent chance of an interest rate cut. Read more: UK inflation falls to its lowest level in three years in December Bank of England avoids interest rate cut as Mark Carney bows out Britain’s lost decade of growth in productivity – output per hour worked – will also dent long-term growth, the BoE said. The Treasury said it would like to express its appreciation of “Mark Carney’s contribution to monetary policy and his wider stewardship of the Bank of England”. Sterling extended gains to stand 0.6 per cent up against the dollar at $1.3095 after the decision. Thursday 30 January 2020 1:36 pm Read more: City economists urge Mark Carney to opt against interest rate cut In Mark Carney’s last rates decision as Bank governor, the monetary policy committee (MPC) voted 7-2 to keep the main rate at 0.75 per cent. “There are also many global uncertainties to consider, including the extent of the further spread and economic impact of the new coronavirus.” Meanwhile Boris Johnson’s government is likely to unveil a spending Budget on 11 March, she added. Read more: The world’s biggest banks are pushing for £4bn in post-Brexit tax cuts Productivity is vital to the continued expansion of the economy, but has increased at just 0.5 per cent on average since the financial crisis, compared to a pre-crisis trend of 2.5 per cent. It also said: “The most recent indicators suggest that global growth has stabilised, reflecting the partial easing of trade tensions.” Share Threadneedle Street now thinks the economy will grow just 0.75 per cent in 2020, down from an initial estimate of 1.25 per cent. And the Bank foresees 1.5 per cent growth in 2021, down from 1.75 per cent. Carney warns of UK economic slowdown Harry Robertson Businesses must also start spending on investment and the world economy surviving 2020 without any major shocks, Neufeld warned. “More data is needed to see if the economy has indeed enjoyed a sustainable ‘Boris bounce’ since the election,” he added. Tags: Bank of England “Most recent business and consumer surveys do show a pick-up in confidence and the housing market also seems to have perked up in January. But we don’t yet have any official data confirming an upturn in actual consumer spending or business investment. “On the other hand, if the momentum was to continue, I believe the focus will tilt to more of a hawkish outlook towards the end of the year particularly if inflation does start to pick up,” he added. Kay Daniel Neufeld, head of macroeconomics, at Cebr, also praised the decision. “Moreover, the continued uncertainty until a trade agreement with the EU is agreed means businesses are likely to remain reluctant to invest. A cut in rates now may therefore not stimulate the economy much, while leave the MPC with even less fire power for later when it could be more effective.” More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Yael Selfin, chief economist at KPMG, added that holding rates was “a wise move”. Britain officially leaves the EU tomorrow at 11pm, but will keep its current trading arrangements until the end of 2020. The Bank said that at the end of this year, as the UK exits the single market, there will be disruption to the economy from higher trade tariffs. John Hawksworth, chief economist at PwC, called today’s vote against an interest rate cut a “sensible” one. “With recent months characterised with unusual volatility, it is hard to read the full strength of the economy,” she said. “However, whether or not the improvement in sentiment will carry over into hard economic data will depend on the government identifying economically sensible initiatives to boost growth,” he argued. Read more: Brexit Day celebrations: How the UK is marking 31 January The UK posted a low inflation rate for December, but Selfin said this was more likely to be a temporary blip than reflecting low prices. The Share Centre’s investment analyst, Joe Healey, believes the Bank is ready to slash rates if it needs to. Carney will leave his post in March after seven years at the helm, to be replaced by Financial Conduct Authority (FCA) chief Andrew Bailey. “The bounce-back in PMI activity alongside the increased confidence of manufacturers post-election as indicated by the CBI survey, to me indicates an economy which is picking itself back up. I’m not ruling out a rate cut in 2020 but I think with growth set to accelerate this year and positive early signs, holding some firepower back is the best decision for the longer-term.” External members Jonathan Haskel and Michael Saunders voted for an interest rate cut again. whatsapp Mark Carney’s Bank of England voted against an interest rate cut in his last monetary policy committee meeting (AFP via Getty Images) “[Therefore] the MPC will be right to worry about rising inflationary pressures to come. But savers will need to wait for a long time before the committee considers rate rises again.” Bank ‘correct’ to hold off on interest rate cut  Read more: UK house prices enjoy two per cent ‘Boris bounce’ to start 2020 on a highlast_img read more

Spay and neuter clinics to travel the Yukon River

first_imgWesternSpay and neuter clinics to travel the Yukon RiverJune 23, 2015 by Ben Matheson, KYUK Share:(Creative Commons photo by Klearchos Kapoutsis)Veterinarians will be on the Yukon River next week to vaccinate, spay and neuter dogs.Angie Fitch is director for Alaska Native Rural Veterinary, one of the groups teaming up to give the free clinics.“It reduces the number of unwanted litters of puppies, there will be fewer strays. It’s a public health issue,” Fitch says.Most Alaska villages don’t have regular vet visits. A trip to the vet in urban Alaska can cost several hundred dollars and require multiple flights.Two veterinarians from the Lower 48 and another will join Environmental Health Officer Brian Berube from the Yukon Kuskokwim Health Corporation. He says rabies, which is found in the YK Delta fox population, presents one of the most serious risks with dog bites.“Especially this time of year when people are out running around and there’s new batches of puppies, we see a pretty big increase in dog bites that we can’t track. Rabies is a disease that, once humans get it, they’re dead. There’s no treating it once the symptoms have started,” Berube says.Up to 200 dog bites are reported each year in the region and many more go unreported. The majority bitten are kids under the age of 10.“Another reason you don’t want stray dogs is because they’re filthy. They get into trash, sewage and dead animals. And as you can imagine, kids like to play with the animals, they get germs and all sorts of illnesses from handling stray dogs,” Berube says.The team will visit Mountain Village beginning June 21st and move on to St. Mary’s, Pitka’s Point, Pilot Station and Marshall. Share this story:last_img read more

Attorney general explains his opinion on the Alaska Hire law

first_imgEconomy | Interior | North Slope | Politics | State GovernmentAttorney general explains his opinion on the Alaska Hire lawOctober 4, 2019 by Andrew Kitchenman, KTOO and Alaska Public Media Share:Alaska Attorney General Kevin Clarkson reads summaries of three constitutional amendments proposed by Gov. Mike Dunleavy in January. On Friday, he explained a legal opinion he released on Thursday that holds that the Alaska Hire law is unconstitutional. (Photo by Skip Gray/360 North)Alaska Attorney General Kevin Clarkson on Friday explained his legal opinion released a day earlier that the Alaska Hire law is unconstitutional.Clarkson said the opinion is in response to a lawsuit challenging the law.“We took a hard look at it, and we determined that, you know, there was no way for the statute to survive a constitutional challenge that was being made,” Clarkson said in a phone call with reporters. “And so, rather than expend … limited state resources defending a law we knew was going to be struck down again, we issued a decision to that effect.”Clarkson referred to the 1972 U.S. Supreme Court decision Hicklin v. Orbeck and two Alaska Supreme Court decisions — Robison v. Francis in 1986 and State v. Enserch Alaska in 1989 — that had invalidated earlier versions of Alaska Hire. The law requires private contractors working on state-funded projects to hire qualified Alaskans as a percentage of their workers.“The governor and his administration certainly encourage and promote the hiring of Alaskans for jobs in Alaska,” Clarkson said. “But the problem is that the U.S. and Alaska constitutions make it clear that you cannot have a law that mandates the hiring of Alaskans in preference over others.”Colaska Inc., doing business as SECON, sued the state’s Department of Labor and Workforce Development on July 12 to bar it from enforcing the law. Colaska is a subsidiary of the French road-building company Colas Group.Alaska Hire supporters have said the law was crafted to comply with court decisions.David Guttenberg is a retired laborer who represented a Fairbanks area seat in the Alaska House of Representatives for 16 years. He also served as political director for the Fairbanks Central Labor Council and said the Alaska Hire issue brought him into politics.“I wish the attorney general and the governor were finding reasons to hire Alaskans, instead of not hiring Alaskans,” he said.Guttenberg said Clarkson and Dunleavy are union busting.“Nobody benefits (from) this except the extreme right-wing, anti-worker agenda,” he said.Clarkson said it will be up to other state departments to decide how to use his opinion. The state hasn’t announced whether it will stop enforcing the law.Share this story:last_img read more

Azar calls on Congress to help eliminate drug rebates

first_img WASHINGTON — Health and Human Services Secretary Alex Azar called on Congress Friday to upend the way drugs are paid for by “immediately” passing a law banning rebates that drug makers pay to insurers.His push comes the morning after after HHS announced a policy proposal that would eliminate rebates in the Medicare program, which the department claims will lower the amount of money seniors spend on prescription drugs at the pharmacy. Though HHS estimates it will raise premiums in the program, it believes patients will ultimately save money. Politics HHS Secretary Alex Azar Chris Kleponis/Getty Images Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. What’s included? GET STARTED Log In | Learn More Unlock this article — plus daily intelligence on Capitol Hill and the life sciences industry — by subscribing to STAT+. First 30 days free. GET STARTED What is it? By Ike Swetlitz Feb. 1, 2019 Reprints Azar calls on Congress to help eliminate drug rebates STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Tags Congressdrug pricinggovernment agenciespolicylast_img read more

‘Watch Me (Whip/Nae Nae)’ rapper charged with killing cousin

first_imgAdvertisementTags: murderNae NaerapperWhip AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Florida man sentenced to life in prison for machete slaying at grow house June 16, 2021 Investigators search for information about 2020 murder of Naples man May 28, 2021 RELATEDTOPICS AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments AdvertisementThe newspaper had reported previously that police responded to a call of shots fired on Jan. 21 about 3:30 a.m. in the community of Panthersville in DeKalb County. The newspaper cited police as saying officers found Rooks dead with multiple gunshot wounds that night.It wasn’t immediately known if Hawk had an attorney who could comment for him. His manager did not immediately respond to an emailed request for comment Monday night.center_img ATLANTA (AP) — Silento, the Atlanta rapper known for his hit song “Watch Me (Whip/Nae Nae),” was arrested Monday and charged with murder in the shooting death of his 34-year-old cousin, authorities said.DeKalb County police said in a statement on Twitter that the 23-year-old rapper whose legal name is Ricky Hawk was arrested in that suburb of Atlanta. The police statement said he is in the county jail, charged with murder in connection with the Jan. 21 death of Frederick Rooks.The statement didn’t elaborate on the circumstances of the death or Hawk’s arrest.The Atlanta Journal-Constitution reported that Hawk was being held without bond late Monday. “Person of interest” identified in disappearance and death of teenager Molly Bish June 7, 2021 Naples soldier facing charges for wife’s murder June 16, 2021 Advertisement Advertisementlast_img read more

Absence of regulation of gas installations must be addressed immediately – Fleming

first_img GAA Absence of regulation of gas installations must be addressed immediately – Fleming TAGSDeputy Sean Fleming Home News Absence of regulation of gas installations must be addressed immediately – Fleming NewsPolitics Twitter Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory WhatsApp Here are all of Wednesday’s Laois GAA results Facebook Fianna Fáil TD for Laois and Chairman of the Public Accounts Committee, Seán Fleming, has called on the Government to urgently address the appalling lack of regulation of non-domestic gas installations.Deputy Fleming was commenting as the Commission for Regulation of Utilities (CRU) confirmed to him that gas works regulations currently extend to the domestic sector only.All other buildings such as hospitals, schools, hotels, offices, factories, all places of work and other commercial buildings are not covered by regulations.Therefore, the installation of heating systems, cooking facilities and gas appliances and fittings in these buildings are totally unregulated in Ireland.Deputy Fleming states that this may put the lives of people who use and work in these buildings at unnecessary risk.He explained, “A registered gas installer has to go through a lot of training and various courses to get certified. They must provide this certification to work on a person’s house.“There are no rules or regulations of installers working on non-domestic buildings. I think it’s absurd and people should be aware of this. This is a major health and safety issue that many are unaware of.“The rules and regulations for the installation of gas fittings in houses are in place for a very good reason. We are all too aware of possible unnecessary deaths from carbon monoxide poisoning which take place each year.”“Public buildings and commercial businesses should be subjected to a high standard and should have only registered gas installers working on their gas installations.“The CRU has informed me that from 2021 it is their intention that the regulatory scheme will be extended to the non-domestic sector, but this is simply not good enough.“The regulations and the registration of installers must be introduced immediately,” he concluded.SEE ALSO – Laois man comes top of the class in Masters in Organic Farming Facebook Pinterest Previous articleIn Pictures: Skills and smiles galore at The Heath Cul CampNext articleBallyroan-Abbey and Emo set for replay battle as Laois SFC resumes Siun Lennonún Lennon joined LaoisToday in a full-time capacity after studying Journalism and New Media in the University of Limerick. She hails from Rosenallis and her interests vary from news, sports and politics. Twitter RELATED ARTICLESMORE FROM AUTHOR GAA Pinterest GAA By Siun Lennon – 6th August 2019 WhatsApp 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshinlast_img read more

Deaths in Laois – Friday, November 22, 2019

first_imgHome Deaths Deaths in Laois – Friday, November 22, 2019 Deaths Deaths in Laois – Friday, November 22, 2019 Facebook RELATED ARTICLESMORE FROM AUTHOR Previous articleLocal Gym supports Portlaoise family in the their fundraising campaign for their son JamieNext articleEmo National School table quiz a huge success LaoisToday Reporter Pinterest Below are the recent deaths in Laois.Ar Dheis De go raibh a anam.Eleanor Smyth (née Loughlin)Killeavy, Newry, Armagh / Rathdowney, LaoisSmyth (nee Loughlin) (Killeavy, Newry and formerly of Rathdowney, Co. Laois), November 19th, 2019, Eleanor, RIP, surrounded by her loving family. Beloved wife of Ian and loving mother of Pauline (Campbell) and the late Eoin and Maureen RIP.Eleanor’s remains are reposing at her home, 25 Low Road, Killeavy, BT35 8RH until removal on Thursday to The Church of the Sacred Heart, Cloghogue, for 12 noon Requiem Mass, with burial afterwards in the adjoining cemetery.Very deeply regretted by her sorrowing husband, daughter, son-in-law Ian, grandchildren Owen and Rachel and entire family circle.Hilda Johnston (née Thompson)Downings North, Prosperous, Kildare / Mountmellick, LaoisJohnston (nee Thompson), Hilda, Downings Nth., Prosperous, Co. Kildare and late of Clonaghdoo, Mountmellick, Co. Laois, November 16th 2019, peacefully surrounded by her loving family, deeply regretted by her loving husband Henry, children Cecil, Keith and Amanda, daughters in law, grandchildren Dylan, Chloe, Stephanie and Andrew, sister Dorothy, brothers-in-law, sisters-in-law, nephews, nieces, relatives and friends.Peace Perfect PeaceRemoval on Tuesday to arrive at St. Michael and All Angels Church, Millicent at 7.30PM. Funeral Service on Wednesday at 12 noon, followed by burial in the adjoining cemetery. Family flowers only please. Donations, if desired, to Friends of Naas Hospital. For all enquiries, please contact Oliver Reilly Funeral Directors on (045868230).David McSweeneyMerlin Park, Galway City, Galway / Mountmellick, Laois( Retired Bank Of Ireland), surrounded by his family, in the care of the team at the Claddagh Ward, University Hospital, Galway. David, beloved husband of Olive and much loved father of Lynn, Ruth, David and Gwen. Sadly missed by his wife and children, son-in-law Ivan, grandchildren Emma, Lauren, Rebecca, Cara, Sophie-Anna and Robin, cousins, relatives, neighbours and friends. Reposing at the O’ Flaherty Funeral Parlour, Munster Avenue, Galway on Tuesday 19th November from 6.00 p.m. to 8.00 p.m. Removal on Wednesday 20th November to St. John the Evangelist Church, Coolbanagher, Co Laois to arrive for Funeral Service at 12 noon followed by interment in adjoining cemetery. Family flowers only. Donations if desired to Croí or Cancer Care West.Michael WhelehanBallycarroll, Portarlington, LaoisMichael passed away peacefully surrounded by his loving family in the wonderful care of the staff of Saint Brigids Hospital, Shaen. Sadly missed by his loving wife Helen, daughter Sinead, sons John and James, son in-law Graham, daughter in-law Caroline, grandchildren Dylan, Ryan, Aoife, Saoirse and Michael. Brothers in-law Eddie and Seamus, nieces, nephews, relatives, Neighbours and friends. Ar dheis Dé go Raibh Sé.Reposing at his residence on Tuesday from 6 o clock with recital of the Rosary at 9 o clock. Reposing on Wednesday from 12 noon with recital of the Rosary at 9 o clock. Arriving to Saint John’s Church Killenard on Thursday for 12 noon Requiem Mass. Interment to follow in adjoining cemetery. Donations if desired to Saint Brigids Hospital Shaen. No flowers please. House private on Thursday morning please.SEE ALSO – Deaths in Laois – Thursday, November 21, 2019 By LaoisToday Reporter – 22nd November 2019 GAA Facebook Twittercenter_img GAA WhatsApp Twitter 2020 U-15 ‘B’ glory for Ballyroan-Abbey following six point win over Killeshin Pinterest Here are all of Wednesday’s Laois GAA results Kelly and Farrell lead the way as St Joseph’s claim 2020 U-15 glory GAA WhatsApplast_img read more

New homes for 50 Laois families following €745,000 government investment

first_img Electric Picnic New homes for 50 Laois families following €745,000 government investment By Alan Hartnett – 21st May 2021 Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter 50 Laois families are expected to be in new homes by the end of this year following a €745,000 investment from the government.According to Laois TD Sean Fleming, the Department of Housing has granted the funding in order to enable Laois County Council refurbish and re-let 50 houses this year.The Minister for State at the Department of Finance welcomed the news and hopes that local people will also be employed to carry out this work.He said: “This is great news as 50 families can now receive houses from the Council before the end of the year.“Under the scheme the Department will cover the cost of up to €11,000 for 45 properties for refurbishment.“For houses that require significant investment to bring them back into use the Government will provide €50,000 for each of the five houses that have been identified by the Council.“I look forward to Laois County Council proceeding with this work as soon as possible to ensure all of these 50 families are in their new homes over the coming months.“Finally, this is really good news for local builders and tradespersons who can get good local work under this scheme.“This will ensure this money will be spent locally and I ask the Council to do everything possible to employ local people to work on these house refurbishments.”SEE ALSO – Residents of Laois housing estate unhappy as 46 new social houses set to be constructed by Cluid Pinterest Home News Council New homes for 50 Laois families following €745,000 government investment NewsCouncil Facebook Previous articleIn Pictures: Laois Gardai seize almost €100,000 in fake bank notesNext articleIn Pictures: Knockbeg College host annual Parents’ Day and Awards Ceremony Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. Electric Picnic Council Electric Picnic apply to Laois County Council for new date for this year’s festival TAGShousesSean Fleming Electric Picnic organisers release statement following confirmation of new festival date WhatsApp Twitter WhatsApp Pinterest Mary Sweeney elected Cathaoirleach of Portlaoise Municipal District for next 12 monthslast_img read more

Sunshine Policy a Failure… Return to the Original North Korea Policy

first_img News Sunshine Policy a Failure… Return to the Original North Korea Policy RELATED ARTICLESMORE FROM AUTHOR [imText1]How do experts perceive the “Sunshine Policy” that has attempted to achieve reform and development in North Korea for the past 9 years?While President Roh Moo Hyun enters his final 6 months in office, the Network for North Korean Democracy and Human Rights gathered on the 4th to analyze the government’s North Korea policy and discuss proposals for a new policy on North Korea. Briefing on the topic, “Has the South Korean government’s policy on supporting North Korea achieved reform and development in North Korea?” most of the experts seem to agree that the Sunshine Policy that had been implemented for the past 9 years had more or else failed. Rather, experts agreed that nuclear experiments had been launched during this period and that North Korea’s military first politics had been strengthened. Professor Yoo Ho Yul of Korea University said, “The government’s extreme pessimism has created an environment where North Korea’s ill attitudes cannot be changed” and asserted, “The North Korean regime has been strengthened and the choice for reform and development delayed.”Professor Yoo added, “Rather than teaching them how to catch fish, the fish is merely being served. The government has indicated a wrong sign which states that fundamental effort is unnecessary to incite reform and development to North Korea’s elite officials, system or the common person.”He criticized, “The South Korean government’s North Korea policy provided the reserves for resources and energy restricted by North Korean authorities to develop missiles and nuclear armaments” and explained, “Leading elites were not formed as military forces were strengthened.”In regards to an appropriate North Korea policy, Professor Yoo asserted that ▲ aid towards North Korea needed to be transparent and from a reciprocal position, ▲ a two-track strategy is needed where military first politics is weakened and talks with the North strengthened and ▲ North Korea needs to experience change not through South Korean internal politics but other policies such as the North Korea policy. Contrastingly, Professor Ko Yoo Hwan of Dongguk University said, “The South-North reconciliatory cooperative policy is a trend and is a proposal which stands above the benefits of the political parties” and asserted, “Expanding the South-North Economic Agreement will permit North Korea to enter the capitalist international economy with stability.”Further, Professor Ko said, “it is hard to express numerically or statistically as to how much the government’s North Korea policy will influence change in North Korea” and added, “We can see that significant change has occurred in North Korea considering the increase in markets and through Kaesong Industrial Complex and Mt. Geumgang.” Chief Editor of the DailyNK Sohn Kwang Joo said, “The fundamental reason the Sunshine policy failed was from the misunderstanding that we could achieve reform and development in North Korea through assistance.”He said, “The Kim Dae Jung-Roh Moo Hyun governments do not have a full understanding of the Kim Jong Il regime’s strategic dependence on Military First Politics” and said “It was an illusion to think that ‘mutual cooperation’ could be achieved and that South Korea could incite reform and development on the Kim Jong Il regime even when China could not do this.”The result, the policy towards North Korea did not weaken North Korea’s powerful military forces through South Korea’s strong economic forces but rather strengthened the notion of North Korea’s military first politics. Mr. Sohn said, “The North Korea policy states that talks and negotiations between the South and North ‘track A’ is simultaneously necessary with ‘track B’ which would be to weaken the Kim Jong Il regime. However, after the Sunshine policy, track B deteriorated whereas track A also self-imposingly degeneration” and asserted, “Track A and B are not conflicting concepts but rather supplement one another. As a result, the North Korea policy must push towards normalization afterwards.” Researcher Yang Woon Chol of Sejong Institute said, “The government’s aid to North Korea is the most effective political measure it can take to influence North Korea” and suggested, “The South Korean government must be able to request for decisive political measures in return for helping issues such as North Korea’s human rights, defectors and shortages of food.” Professor Lee Shin Hwa from Korea University said, “The Sunshine policy merely became an extreme policy” and criticized, “The moment the policy of North Korea became a ‘indulging approach,’ North Korea became to show an attitude raising its voice while still receiving assistance. Furthermore, South Korean politicians created a false appearance that politics was going well through reconciliatory gestures with North Korea (e.g. visits to North Korea, activities with elites).”Member Song Young Sun of the Grand National Party said, “For the past 10 years, the Sunshine policy provided the resources for the North Korean government to develop nuclear weapons and missiles” and claimed, “The Sunshine policy was a complete failure. We did not prudently lead the relationship with North Korea.’ North Korea was approached with national political motives and rather than ‘reciprocal mutual existence’ the relationship was singly directed.”The Network for North Korean Democracy and Human Rights will continue to meet every two months for the remainder of the year to discuss issues of North Korea’s reform and development and support for North Korea, South-North economic peace, a new North Korea policy and improving North Korean human rights. AvatarKim Yong Hun SHARE There are signs that North Korea is running into serious difficulties with its corn harvest Facebook Twittercenter_img Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak North Korea tries to accelerate building of walls and fences along border with China News News News By Kim Yong Hun – 2007.07.05 4:56pm last_img read more

Budget 2021: Delivering for Norfolk Island

first_imgBudget 2021: Delivering for Norfolk Island Through the 2021-22 Federal Budget, the Morrison Government is committing $18.7 million for ongoing delivery of a suite of essential services to the Norfolk Island community, with a focus on sustainability and practical, fit-for-purpose services to best meet the current and future needs of the community.This investment is enhanced by $58.6 million over the coming four years for maintenance of critical Commonwealth assets and infrastructure in Australia’s territories, including Norfolk Island.We have prioritised Norfolk Island’s youth, committing more than $4.6 million in 2021-22 for education support services and services for child and family wellbeing, to ensure Norfolk Island residents have access to key services and facilities.Our Government is investing more than $1.7 million to support information technology upgrades and dedicated bandwidth services for Commonwealth facilities on island including Norfolk Island Health and Residential Aged Care Services (NIHRACS) and the Norfolk Island Central School.A further $664,000 will enhance NIHRACS governance and accreditation, to support improved patient outcomes and standards of healthcare for the Norfolk Island community.As Australians look to their own backyards for travel, Norfolk Island has the opportunity to strengthen and grow its domestic tourism industry which is why the Australian Government is investing an additional $380,000 for tourism promotion and destination marketing for Norfolk Island.We are committing an additional $735,000 in 2021-22 for the ongoing NI Argentine Ant Eradication program, with more than 26 percent of the infested area already successfully treated. There is also $552,000 to kick off a project to address water supply and quality issues on Norfolk Island.In addition to supporting these important initiatives, our Government is prioritising good governance of Norfolk Island with funding to support the implementation of the recommendations out of the independent audits of the governance and financial management of the Norfolk Island Regional Council (NIRC) and annual financial auditing.To support Norfolk Island rebuild following COVID-19, the Morrison Government has further committed to bringing forward approximately 50 per cent of the 2021-22 Financial Assistance Grant funding to be spent on local priorities. This cash injection of some $2.8 million for Norfolk Island Regional Council, to be paid from 1 July 2021, can provide assistance with the impacts of the pandemic.After a year like no other, which saw COVID-19 significantly affect the tourism and hospitality industry, our focus is on supporting NI through the pandemic and now along the continuing path to recovery, and into the long-term. For full details, visit /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AusPol, Australia, Australian, Australian Government, Central, commonwealth, Federal, federal budget, Government, health, infrastructure, Morrison, Morrison Government, Norfolk, patient outcomes, regional development, residential aged care, sustainability, technologylast_img read more