DEBATE: Would Modern Monetary Theory be a viable strategy to boost the UK economy?

first_imgProfound changes have opened the door to creative policy-making in the UK. All the parties have abandoned fiscal belt-tightening, and the Bank of England has implicitly acknowledged that it will continue to support the financial system indefinitely through quantitative easing. Many governments have tried to live beyond their means via the printing press. (Getty Images) Main image credit: Getty Modern Monetary Theory (MMT) says that the government can fund as much public spending as it wants, simply by creating money. The problem is that if you monetise enough spending, you’ll eventually end up with too much money chasing too few goods, and inflation spiralling out of control. DEBATE: Would Modern Monetary Theory be a viable strategy to boost the UK economy? Would Modern Monetary Theory be a viable strategy to boost the UK economy? whatsapp Melissa Davies, partner and chief economist at Redburn, says YES. Tom Clougherty, head of tax at the Centre for Policy Studies, says NO. As an economy with a persistent current account deficit, it is arguably better for the UK to run a corresponding government budget deficit (which it can finance easily) than have it weighing on the private sector. The challenge would be where to direct these resources. If used effectively (say, to build new infrastructure), we could look forward to faster growth, more foreign investment, and better performance for UK assets. Opinion City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Share whatsapp Melissa DaviesMelissa Davies is partner and chief economist at Redburn. and Tom CloughertyTom Clougherty is head of tax at the Centre for Policy Studies. Many governments have tried to live beyond their means via the printing press. It has always ended badly. MMT offers nothing new — it certainly isn’t the Magic Money Tree that the British left has been searching for. Monday 25 November 2019 9:47 am MMT proponents say that inflation won’t happen while there’s “spare capacity” in the economy. But UK employment is already close to a record high. What’s more, inflation and “economic slack” can go hand-in-hand. It’s called stagflation, and we had it in the 1970s. They also suggests using fiscal policy to control inflation, with taxes rising to choke off “excess demand”. But a democratic government will struggle to hike taxes when people are already feeling the pinch from ever-higher prices. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 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 Under these circumstances, politicians may be increasingly attracted to the ideas of Modern Monetary Theory, which argues that a large government deficit isn’t a problem in itself, since it can always be financed by reserve creation (where the Bank of England effectively prints money to fund the government).last_img read more

Intuit to buy Credit Karma for $7.1bn

first_img Intuit’s shares were up nearly two per cent after market. Intuit’s shares closed down nearly four per cent on Monday. Broader markets also fell sharply amid heightened coronavirus fears. Share The purchase price will be payable in equal portions of cash and Intuit stock, with the shares of Intuit being valued at about $299.73 per share, the company said. whatsapp (Getty Images) whatsapp The deal would be neutral to accretive to Intuit’s adjusted earnings per share in the first year after the transaction closes, which is expected in the second half of 2020. Credit Karma was valued at about $4bn based on its last funding round in March 2018, led by private equity firm Silver Lake. Credit Karma is also backed by financial-technology venture firm Ribbit Capital.  Reuters Intuit to buy Credit Karma for $7.1bn Qatalyst Partners acted as financial adviser to Intuit, while Goldman Sachs advised Credit Karma. Intuit said today it would buy privately held personal finance portal Credit Karma in a cash-and-stock deal for about $7.1bn (£5.5bn) as the Turbotax maker seeks to expand further into consumer finance. Intuit also reported its second-quarter results, posting a 27 per cent rise in profit compared to a year earlier, as it earned more from its Quickbooks bookkeeping software. Show Comments ▼ Mountain View, California-based Intuit went public in 1993, a decade after it was founded. It is the maker of Turbotax, an online software used by millions to file taxes. Monday 24 February 2020 10:27 pm The Wall Street Journal first reported details of the talks on Sunday. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comlast_img read more

Government raised £40.8bn in green taxes in 2020, six per cent of total

first_imgMonday 10 May 2021 10:25 am (Getty Images) Also Read: Government raised £40.8bn in green taxes in 2020, just six per cent of total Over the last decade, the money raked in by green taxes has only risen 19 per cent which has clashed with the 53 per cent surge in taxes as a whole. whatsapp (Getty Images) Also Read: Government raised £40.8bn in green taxes in 2020, just six per cent of total by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker41 Old Toys That Are Worth More Than Your HouseBleacherBreakerAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsPast Factory”Waltons” Actress Says Magazine Ended Her CareerPast FactoryFactableAluminum Foil Uses You’ll Want to KnowFactableBrake For It40 New Features In The 2021 Ford BroncoBrake For ItDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyLivestlyPlugs Have These Two Holes At The End, Here’s WhyLivestlyMoneyWise.comMechanics Say You Should Avoid These Cars In 2021  MoneyWise.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads Tags: Climate change COP26 Net zero UK Oil and Gas Investments “Taxation will play a vital role in driving the UK to its net-zero target. The shrinking share of revenue brought in by green taxes is evidence that the government isn’t yet doing enough to discourage polluting behaviour,” Collins added. Show Comments ▼ Millie Turner (Getty Images) The government has begun mulling reform to Air Passenger Duty (APD), involving cuts on domestic flights and adding extra bands so charges are more closely linked with the emissions created. However, it is not yet clear whether the government has plans to use this reform to raise extra revenue from APD. Head of tax at Pinsent Masons, Jason Collins, said that revenue from environmental taxes remains low and the freezing of key ‘green’ taxes in the government’s budget means it will likely continue to fall. (Getty Images) Also Read: Government raised £40.8bn in green taxes in 2020, just six per cent of total whatsapp Alongside low green tax revenue, Pinsent Masons found that the government gave back only £2.9bn in green tax breaks last year, representing just 7 per cent of the amount raised by green taxes. The current approach to environmental taxes is ‘not enough stick and not enough carrot’, according to Collins, and fails to give businesses a strong incentive push for environmentally friendly investments. Share To commit to climate-positive investments, businesses need certainty over the future of taxation and tax reliefs for environmental issues in the coming years as the net-zero deadline gets nearer, Collins continued. The government raised £40.8bn through ‘green taxes’ last year, just six per cent of the £633bn raised through taxes overall, according to law firm Pinsent Masons. Green Incentive The government has shown a willingness to shape behaviour using taxation, such as the Soft Drinks Levy, but has not yet begun to do this for the 2050 net-zero target, the law firm said. (Getty Images) Also Read: Government raised £40.8bn in green taxes in 2020, just six per cent of total “Tax policy needs a wholesale change to help achieve net-zero. The government needs to address the imbalance between taxes and tax reliefs to not only penalise polluters but reward businesses that invest in green technology to get the UK closer to carbon neutrality.” “The recent cuts to electric vehicle grants is just another example of the government choosing not to incentivise consumers to make green decisions. Over time that kind of decision will make it significantly harder to hit the 2050 target. With polluting investments being increasingly scrutinised by consumers and shareholders, the law firm added that more needs to be done to disincentivise carbon funding and encourage green investment. Government raised £40.8bn in green taxes in 2020, just six per cent of total last_img read more

Juneau family leaves Orlando on last flight out ahead of Hurricane Matthew

first_imgTransportation | WeatherJuneau family leaves Orlando on last flight out ahead of Hurricane MatthewOctober 9, 2016 by Matt Miller, KTOO Share:Rolling cumulus is visible from the Loews Sappire Falls Hotel in Orlando, Florida. (Photo courtesy Ryan Stanley)Meadow Stanley dons a poncho to protect herself from Death Eaters and cloud bursts. (Photo courtesy Ryan Stanley)Cloud bursts greeted the Stanley family during their visit to Orlando, Florida. (Photo courtesy Ryan Stanley)Emergency alert received on smart phones. (Screen capture courtesy Ryan Stanley)Cumulus visible during a walk in Orlando. (Photo courtesy Ryan Stanley)A surge pricing notice issued by Uber in Orlando, Florida. (Screen capture courtesy Ryan Stanley)Laura Hosey watches the television news on Thursday morning roughly 9 hours before their flight departed. (Photo courtesy Ryan Stanley)Flight status board at Orlando International Airport at 1 p.m. Thursday. Red status indicate cancelled flights. (Photo courtesy Ryan Stanley)Passengers are checked in to their flights at Orlando International Airport at 1 p.m. Thursday. (Photo courtesy Ryan Stanley)The last Alaska Airlines flight out of Orlando International Airport on Thursday. (Photo courtesy Ryan Stanley)12345678910 read more

Travel chaos on South West Trains expected to continue until 3.30pm after person hit by train near Raynes Park

first_imgTuesday 21 July 2015 4:26 am Show Comments ▼ Catherine Neilan whatsapp Travel chaos on South West Trains expected to continue until 3.30pm after person hit by train near Raynes Park Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesGameday NewsNBA Wife Turns Heads Wherever She GoesGameday Newszenherald.comMeghan Markle Changed This Major Detail On Archies Birth Update: The man who was hit by a train at Raynes Park station, near Wimbledon, has been pronounced dead at the scene.  British Transport Police attended the scene alongside London Ambulance Service at around 6:45am this morning. Officers are now trying to establish the man’s identity.  Raynes Park has reopened but South West Trains is now saying there will be severe disruption to its services until at least 3:30pm today. Chaos started at rush hour this morning when all lines were blocked around the station, causing “severe disruption” to trains coming in and out of London Waterloo. Services affected include Guildford, Shepperton, Chessington South, Hampton Court, Dorking and Kingston.  Initially delays of up to an hour were expected until at least 11:30am, but South West Trains has since extended this to 2:30pm, and then 3:30pm today.   Read more: Why commuters will be worse off under new rail delay compensation rules Commuters have been advised to seek alternative transport, including buses, underground and alternative train routes.  “Sorry for the disruption,” South West Trains tweeted this morning. Tags: NULL whatsapplast_img read more

Two Black university leaders urged their campuses to join a Covid-19 vaccine trial. The backlash was swift

first_img Comparing the Covid-19 vaccines developed by Pfizer, Moderna, and Johnson & Johnson By Nicholas St. Fleur Oct. 12, 2020 Reprints Walter Kimbrough, president of Dillard University, on its campus in New Orleans. Emily Kask for STAT “And then from a student’s perspective, there’s a lot of panic and trepidation about anything related to Covid right now,” Bartholomew said. He said he would not enroll in a clinical trial for a Covid-19 vaccine and he understands why other Black people wouldn’t either due to distrust of medical research.“Those horror stories are something that is part of our history as African Americans, so we’d be completely naive to ignore the precedents that have been set,” he said.The presidents responded to the social media criticism.“There was some misinformation that was being exaggerated,” said Verret. “The suggestion that there was money being paid to me or Dr. Kimbrough? No. That there was money paid to Xavier. No. That Xavier was requiring that all students be in the trial. No.” He added that any of the standard clinical trial compensation he received — participants are paid a nominal sum for their time — he would donate to his parish.The presidents’ letter may have helped make some headway in aiding recruitment, said Julia Garcia-Diaz, the principal investigator of the clinical trial at Ochsner. After it went out, she received an email from a woman in her late 60s who said she read the presidents’ note and wanted to sign up.“Not only was she elderly and African American, but she was a female also,” said Garcia-Diaz. “She ticked all sorts of boxes because women are also underrepresented in clinical trials.”Kimbrough said if he were to rewrite the letter, he would have addressed it to the general public rather than just his and Xavier’s campus communities.“That’s a good lesson in terms of messaging,” he said.The HBCU medical schools have been working to make sure they get the messaging right as they address people’s skepticism. Their outreach includes interacting with faith-based organizations and participating in virtual town halls, like one hosted in September by Howard University’s radio station and The Black Coalition Against Covid-19.“The major concern that people are expressing is the question, ‘Am I being experimented upon?’” David Carlisle, the president of Drew and an internist, said during the town hall. “I can assure individuals that this vaccine when you are taking it to fight Covid-19 is not an experiment that is being directed against the African American community.”He added that anyone considering enrolling should first ask their doctor if they should take this vaccine, why, and is this vaccine safe for them?At Morehouse, Valerie Montgomery Rice, the president and an OB-GYN, is no stranger to recruiting diverse populations into clinical trials. When she helped run a clinical trial for a birth control pill at the University of Kansas in the 1990s, her site was commended for recruiting the highest percentage of minority women in the country. She said she is confident 60% to 70% of the people enrolled in the vaccine trial on her campus will be people of color, because Morehouse has long cared for the community.“The benefit that is with an HBCU medical college is that we deal with these issues everyday with our community. We are more culturally sensitive and more culturally aware,” said Montgomery Rice. “We have the trust of the community and we’ve earned that trust.”Nicholas St. Fleur is a University of Michigan Knight-Wallace reporting fellow. @SciFleur “Our children are not lab rats for drug companies,” said one post. “I can’t believe a HBCU would do this to our people,” said another reply. “Tuskegee, Tuskegee. … Me and mine aren’t first in line,” said another response.Dillard University in New Orleans. Emily Kask for STATThe episode illustrates the challenges historically Black colleges and universities face as they seek to leverage their legacies of trust within African American communities to bolster lagging Black enrollment in Covid-19 vaccine clinical trials. Their recruitment efforts will need to overcome the deep-seated suspicions many Black Americans hold toward medical researchers, pharmaceutical companies, and the government that stem from long-standing racial injustices perpetrated by those institutions.advertisement Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. [email protected] The presidents of two historically Black universities in New Orleans thought they were doing a public service by enrolling in a Covid-19 vaccine clinical trial back in August, so much so they urged their campus communities to consider doing the same.“I said we should inform our communities because I think there’s something about teaching by example,” said Reynold Verret, a biochemist who leads Xavier University of Louisiana. “We’re two Black men who rolled up their sleeves.”So Verret and Walter Kimbrough of Dillard University were stunned by the fierce backlash that followed their joint letter to faculty, staff, students, and alumni. Hundreds of outraged commenters flooded their schools’ Instagram, Twitter, and Facebook accounts.advertisement Now, as the four HBCU medical colleges prepare to host Covid-19 vaccine trials on their campuses, there’s hope their efforts will have more success.“We’ve engendered a level of trust with communities of color that other organizations, quite frankly, just don’t have,” said James Hildreth, an immunologist and president of Meharry College of Medicine in Nashville. “It’s imperative for us as HBCUs to rise to this occasion because people need us.”Meharry College plans to begin a trial of a vaccine made by Novavax within the next two weeks, with Hildreth as its first participant. The goal is to enroll 300 at the site, but Hildreth thinks they can enroll 600 people, mostly African Americans. The other HBCU medical schools, Howard University College of Medicine in Washington D.C., Morehouse School of Medicine in Atlanta, and Charles R. Drew University of Medicine and Science in Los Angeles, are planning to start their trials in the coming weeks. Nicholas St. Fleur Privacy Policy About the Author Reprints Leave this field empty if you’re human: “By engaging with the four Black medical schools,” Hildreth said, “they will have individuals who look like them, sitting across the table, having these conversations, and we think that’s going to make a huge difference.”As the death toll passes 210,000, the Covid-19 pandemic has laid bare inequalities within the U.S. health care system and labor force, with a large portion of Black workers employed in essential jobs that put them at risk of infection. Black Americans are three times as likely as white Americans to contract the disease, five times as likely to end up in the hospital, and twice as likely to die from it, according to the CDC. Had Black Americans died at the same rate as white Americans, some 20,800 Black people would still be alive.Yet, clinical trials for vaccines are struggling to recruit from their communities. Moderna, one of the drug companies testing a shot, slowed down its trial after failing to enroll enough people of color among its 30,000 participants — though as of last week it said one-third of volunteers were from “diverse communities.” Pfizer and BioNTech reported that 9% of their U.S. clinical trial enrollees are Black and 13% are Latino, while some 72% are white.“Watching all throughout the summer, you kept seeing stories that say there aren’t enough African Americans in these trials,” said Kimbrough. “You had people like Tony Fauci saying that’s going to be a problem if we create this vaccine and it doesn’t work for Black folks.”Though people are all nearly identical genetically,  people of color might respond differently than white people to a vaccine, especially for a respiratory disease, due to social differences such as exposure to air pollution that disproportionately affects Black and brown communities, or higher rates of chronic diseases such as diabetes or sickle cell.“How we live and where we live impacts how medicine affects us,” said Kimbrough. “I think that’s a powerful conversation that we need to be having.”He enrolled in a Phase 3 trial of the Pfizer and BioNTech vaccine after Verret mentioned in a phone call that he’d done the same, through New Orleans’ Ochsner Health system. The study is double-blinded, so neither the participants nor the researchers know whether they received the vaccination or a placebo until the trial is over. (Because the vaccine doesn’t contain any live virus, the participant has no risk of developing Covid-19 from the injection.)In their letter, Kimbrough and Verret addressed the pain caused by the Tuskegee syphilis study — in which Black patients were told they would be treated for the disease but weren’t — and how it eroded trust between the Black community and health care providers.“We understand they’re scared, we understand the history,” Kimbrough said, “but we’re not just telling them this, we’re saying, ‘Look, we’re doing this.’”Xavier University in New Orleans. Emily Kask for STATOutrage poured in nonetheless, fueled in part by a ProPublica story published a day before the presidents’ letter that found Ochsner had sent Black patients infected with coronavirus home to die despite the threat they could spread the disease to other people.To Tevon Blair, a 2018 Dillard graduate, part of what made the letter unpalatable was the absence of predominantly white local universities such as Loyola and Tulane.“The red flag in this vaccine trial … is that it is not a city-wide partnership with other colleges,” Blair tweeted.Myles Bartholomew, 22, a 2020 Xavier graduate who is pursuing his doctoral degree at Brown University in molecular biology, cellular biology and biochemistry, said that from a researcher’s point of view, he understood the importance of encouraging Black people to take part in clinical trials and said the presidents were acting unselfishly. Tags CoronavirusracismresearchVaccines General Assignment Reporter, Associate Editorial Director of Events Nicholas covers the intersection of race, medicine, and the life sciences. HealthTwo Black university leaders urged their campuses to join a Covid-19 vaccine trial. The backlash was swift Please enter a valid email address. Trending Now:last_img read more

Defector leaps hurdles, reaches new heights in business world

first_img SHARE News North Korea tries to accelerate building of walls and fences along border with China News AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] By Daily NK – 2017.07.14 3:26pm Facebook Twitter News center_img Ms. Kang arrived in South Korea in 2013. She is now in her third year working for a company in a network security and IT position. Her role is to protect official communications networks from hacking attacks by strengthening cyber security measures. She is second in command for the company’s security, but had to work her way up as a new employee and a North Korean defector. Ms. Kang came to South Korea in her mid-20s and initially felt a sense of insecurity about her future. She knew how radically different the South was, and so began to think about which personal strengths she could possibly offer such an advanced nation as South Korea. From the time she first landed in the South and underwent resettlement education at the Hanawon facility, she thought, “South Korea is an IT powerhouse, so no matter what I do, I’ll need to be able to use the internet.” So she set out to earn a computer education certificate. After 10 months at Hanawon, she earned several different certificates and then aimed for her next goal: to use these skills at a South Korean tech company. She began by enrolling in a computer training class, which she stumbled on by blind luck. Fortunately, the particular training class she had found specialized in networks.  However, it was hard going from the very first class. Ms. Kang could hardly understand what the lecturer was talking about. One reason for that difficulty is that computer-related terminology is often in English. But she believed that there was nothing she couldn’t accomplish through hard work. After three months of classes, she began to get the hang of it, due in part to her habit of studying extra each day. Within a short time, she attained enough skills to apply for a job. Breaking through prejudice towards North Korean defectorsOne year after starting, Ms. Kang’s computer teacher said that she would gladly write a recommendation letter for her, as she had attained all the relevant qualifications. Ms. Kang looked back on a long period of intense work and felt a keen sense of satisfaction. But it was not easy for her to land a job. Ms. Kang was able to proceed through the various levels of the hiring process, but she often found companies reluctant to hire a North Korean defector. This process repeated itself for three months until Ms. Kang finally found a place that would hire her. She felt thrilled, as she felt she had broken through stereotypes about North Koreans and worked hard to achieve the necessary qualifications. However, after starting her work, she encountered an unexpected problem. One client, who had spoken with her on the phone, remarked that her accent made it sound as if she was engaging in voice phishing: a form of scam over the phone aimed at stealing money or private information. Other customers asked why a Chinese-Korean was running network security for a company.   At the time, many South Koreans had indeed fallen victim to voice phishing scams run by cartels based in China. The company even received civil complaints. Ms. Kang was determined to change her accent to overcome the problem, but it was not east to suddenly change the way she had been speaking for 30 years. When she felt depressed, she sometimes turned to alcohol. However, after 3 years, people became more open to the fact that Ms. Kang came from North Korea and empathized with her. There was also some tension when she first began, but now her colleagues have seen that she is a sincere and a hard worker. Education is the key to defector success Ms. Kang believes that education is South Korea’s strongest asset. Classes can even be taken online, with a diverse range of topics available. She believes that the public education system is good, but the private sector offerings are also very high quality, and are the key to helping defectors overcome their fears and adjust to a radically different environment. “Rather than giving defectors money, it’s better to use that money to help find a job for them,” Ms. Kang explained. She believes that helping defectors to help themselves by creating opportunities in the working world is an idea that needs greater attention. This would give defectors, especially those who never worked professionally while living in the North, a sense of accomplishment and help guide them towards independence.    Ms. Kang is now setting her sights on a new adventure. She plans to combine the social experience that she has garnered together with her three years in network security to start her own business. *This article has been brought to you thanks to support from the Korea Press Foundation. There are signs that North Korea is running into serious difficulties with its corn harvest News RELATED ARTICLESMORE FROM AUTHOR Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak Defector leaps hurdles, reaches new heights in business worldlast_img read more

OMERS earned 11.5% return in 2017

first_img Canadian plan sponsors post positive quarter despite bond slump Pension fund manager OMERS earned an investment return of 11.5% after all expenses last year, topping the 10.3% result it posted in 2016.The defined-benefit pension plan for Ontario’s municipal employees said all of its major asset classes performed well for the year. Budget 2021 revives tax issues from 2019 Keywords PensionsCompanies Ontario Municipal Employees Retirement System Related news Canadian Press center_img OMERS public equity investments were up 14.7% in 2017, while its total fixed income earned 4.3%.Private investments by the fund earned 11.6% including 11.1% by private equity, 12.3% by infrastructure and 11.4% by real estate.The pension fund said it’s funded status in 2017 improved to 94%, up from 93.4% in 2016.OMERS invests and administers pensions for members from municipalities, school boards, emergency services and local agencies across Ontario. Facebook LinkedIn Twitter Federal budget fails to support needed pension reform, retiree group says Share this article and your comments with peers on social medialast_img read more

Statement On NZ Royal Commission

first_imgStatement On NZ Royal Commission The Australian Greens MPsSenator Mehreen Faruqi has responded to the publication of the report of Aotearoa New Zealand’s Royal Commission of Inquiry into the terrorist attack on Christchurch masjidain on 15 March 2019.Senator Faruqi is Australia’s first Muslim woman Senator, and the Australian Greens spokesperson for Anti-racism.Senator Faruqi said:“The Royal Commission report makes for disturbing reading. While there is still much to digest, a few things are clear at this point.“This was a terrorist attack committed by an Australian man who the report says was “driven by an extreme right-wing Islamophobic ideology”. Any denial or obfuscation of this simple fact is an insult to the victims.“The report’s findings and recommendations should be taken with utmost seriousness in Australia, where the terrorist lived for most of his life. There are lessons here for the way we approach terrorism, security, online extremism, racial and religious hatred, social cohesion, and gun control.“I urge the Prime Minister to engage with the Australian Muslim community and carefully interrogate what needs to change in Australia.“The terrorist engaged with known far-right and white supremacist groups in Australia, some of which remain active in various forms. One of them forced me to cancel an anti-racism event in Newcastle last year due to their planned disruption. Far-right extremism is not only still present in our country, it is growing.“Australia is yet to reckon with being the country that raised the Christchurch killer. The government must take responsibility for the rise in right-wing extremism reported by ASIO.“On the policy front, the report states that New Zealand ‘inappropriately concentrated’ its counter-terrorism efforts on Islamist terrorism while far-right extremism was on the rise across the world. This alarming fact should be recognised in Australia in the context of ASIO’s recent evidence that up to 40 per cent of its counter-terrorism caseload is now dedicated to right-wing extremism, from as low as 10 per cent just a few years ago.“All of the report’s recommendations should be taken seriously and considered in Australia. We should have strong hate speech laws, and dedicate resources to tracking hate crimes properly.“I also welcome the report’s recommendation to dedicate more government resources to challenging racism and promoting equality. Australia needs a national anti-racism campaign to combat and eradicate prejudice and bias.“There is much to consider over the coming days and weeks. My thoughts are with the survivors and the families of those targeted as they process the release of this disturbing report,” she said. /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:ASIO, AusPol, Australia, Australian, Australian Greens, Christchurch, Commission, community, Counter-terrorism, far-right, Government, gun control, New Zealand, Newcastle, NZ, Prime Minister, royal commissionlast_img read more

Elk Cove Is Going 100% Estate After Four Decades

first_imgEmail Previous articleHow Well Are You Tracking Your Social Media?Next articleWine Impact Study Designed to Impact Policy Press Release Home Industry News Releases Elk Cove Is Going 100% Estate After Four DecadesIndustry News ReleasesWine BusinessElk Cove Is Going 100% Estate After Four DecadesBy Press Release – October 4, 2017 83 0 Facebook Twitter TAGSElk Cove Vineyards Linkedin AdvertisementGaston OR (October 3, 2017) Elk Cove Vineyards has been making wine for four decades, but 2017 is the first year since 1978 their wines will be 100% estate grown and bottled. Elk Cove wines will be created entirely from grapes they own with “Estate Grown” appearing on the label, an important mark of quality in the wine world.“We’re really excited to present our fans with wines that we have complete control over from vine to bottle – other than Mother Nature’s effects of course.” – Heather Perkin, Associate WinemakerIn the first two years, founders Pat and Joe Campbell grew all their own fruit, but quickly realized they didn’t yet have the fruit quality to create a Single Vineyard Pinot Noir they could be proud of.Luckily, a chance meeting between Joe and winegrower Sandy Reese while each buying their first grapevines from fellow pioneer Charles Coury, sowed the seeds of a friendship and a winegrowing relationship between Elk Cove and Windhill Vineyard. As demand for Elk Cove wines grew they also partnered with other respected local growers to increase production and give their wines the balance they felt was needed.“In 1978 and 1979 we made some of the very first Single Vineyard Pinot Noirs in Oregon: Our Windhill Pinot Noir. Then came the early 80’s when we had difficulty ripening certain blocks so purchasing fruit from lower-elevation sites was key. Our farming methods have improved since then, with more thinning and the use of cover crops to improve soils, so we actually get some very nice fruit from blocks we once considered marginal. Then in the late 1980’s we knew we wanted to make Pinot Gris, but were just planting our own Gris vines. We began purchasing fruit to develop our winemaking style as our own vines matured. It may seem like a slow process, but that’s viticulture – it can take decades to get the results you want.” -Pat Campbell, Elk Cove FounderThe Campbell family has spent the last forty years planting ten to twenty acres yearly and investing in an impressive portfolio of vineyard sites: the Elk Cove Winery Estate then Windhill, Mount Richmond, Five Mountain, Clay Court and lastly Goodrich. The diversity of these sites is truly what has allowed the winery to go 100% Estate:“We now have the lower elevation Mount Richmond, very similar to the Elk Cove Estate with Willakenzie Soils, Clay Court on Jory soil, Windhill and Five Mountain on Laurelwood, great vineyards from 250 feet to 750 feet elevation, five of which have older vines, so now we have all the elements in place. All of our vineyards are in a 20-mile radius of the winery so we can lovingly, intentionally farm each of these parcels. We finally have the right mix of vine age, soil type, elevation and microclimate to create estate grown wines that rival the finest Pinot Noirs in the world, to proudly proclaim ‘Estate Grown’ on all of our labels.” – Adam Campbell, Owner and WinemakerMount Richmond Vineyard has really become the backbone of Elk Cove’s wines in both volume and quality. The older vines at this site are proving Mount Richmond to be one of the elite vineyards of Oregon. In fact, Elk Cove’s first 94 point scoring wine in Wine Spectator was awarded to their 2008 Mount Richmond. With 180 planted acres, Mount Richmond now contributes 50% of the fruit for Elk Cove’s core wines, their Willamette Valley Pinot Gris and Willamette Valley Pinot Noir. And with several newer blocks that are just coming of age, this vineyard has a promising future ahead.With their entire focus on vineyards that they own, Elk Cove now has full control over how their fruit is farmed and can care for those vineyards and their soils for generations to come. Estate grown will now proudly appear on the label of every Elk Cove wine produced in 2017 and beyond.About Elk Cove VineyardsFounded in 1974 by Pat and Joe Campbell, Elk Cove Vineyards is one of Oregon’s oldest and most respected wineries. In 1995, second-generation winemaker and 5th generation Oregon farmer Adam Campbell joined forces with his parents to make Elk Cove a multi-generational, family-run operation. Elk Cove now farms sustainably over 380 acres on six separate estate sites in the northern Willamette Valley. The Campbell’s goal has always been handcrafted cool-climate wines that rival the best in the world.For more information, please visit, call 503-985-7760 or follow on Twitter @elkcove, on Instagram @elkcove or at facebook/elkcoveAdvertisement Share Pinterest ReddItlast_img read more