News & Current Affairs

March 28, 2009

G20 protesters marching in London

G20 protesters marching in London

Young World Vision supporters from Luton and Milton Keynes gather with Yes You Can placards and t-shirts by Westminster Bridge

Children are also joining the heavily-policed march

Thousands of people are marching through London demanding action on poverty, climate change and jobs ahead of next week’s G20 summit.

The Put People First alliance of 150 charities and unions are marching from Embankment to Hyde Park for a rally.

Speakers will call on G20 leaders to pursue a new kind of global justice.

Police say protests over the coming week are creating an “unprecedented challenge”. Campaigners have rejected claims the march could turn violent.

Marchers gathered near Embankment spoke of “a carnival atmosphere”.

“The sun is shining – there are lots of banners and flags and everyone is in good spirits,” said Chris Jordan, an Action Aid campaigner.

A huge security operation is being launched before and during the G20, at which world leaders will discuss the global financial crisis among other issues.

Prime Minister Gordon Brown has said he is optimistic that a consensus can be reached on how to tackle the problem but other leaders are less convinced.

In an interview with Saturday’s Financial Times, German Chancellor Angela Merkel dampened expectations of a significant breakthrough.

She said one meeting would not be enough to solve the economic crisis and finish building a new structure for global markets.

Ahead of the summit, there are fears that banks and other financial institutions could be the focus for violent protests.

Organisers of Saturday’s Put People First march say police have no evidence anyone intends to take part in violence or disrupt the march, which has been organised in full co-operation with the authorities.

Commander Simon O’Brien, one of the senior command team in charge of policing security, said: “It’s fair to say that this is one of the largest, one of the most challenging and one of the most complicated operations we have delivered.

“G20 is attracting a significant amount of interest from protest groups. There is an almost unprecedented level of activity going on.

“The unprecedented nature is about the complexity and scale of the operations over a number of days.”

TUC general secretary Brendan Barber, who is due to address the rally, said there was no room for violence at the march.

“If there are other groups who want to cause trouble, I don’t want to see them anywhere near our event,” he told the Today programme.

He said he wanted to see G20 leaders agree a plan of action to deal with the financial downturn.

“Where I hope we will see a consensus emerge is in the recognition that unless they act together, then the problems are only going to get worse.

“This, unlike any other recession, is a recession right across the world.”

The Energy and Climate Change Secretary Ed Miliband, who has met some of the groups taking part, said he expected “the vast majority” to stage a peaceful protest.

He said he agreed it was important for the G20 to make commitments on helping the environment as well as the economy.

“There are some people who will say you can either tackle the economic crisis or the climate crisis.

“But the truth is that both come together with this idea of a Green New Deal, of investing in the jobs of the future, which are going to be in the green industries of the future.”

‘Better world’

Actor Tony Robinson suggested the talk of violence was distracting from protesters’ demands for greater government commitment on the environment and local communities.

Jake Corn, from Cambridge, said he was joining the march to show his support for a more sustainable future.

“We feel this is an important moment with the G20 coming here. We want to get our message across to as many people as possible,” he said.

Italian trade unionist Nicoli Nicolosi, who had travelled from Rome, said: “We are here to try and make a better world and protest against the G20.”

Saturday’s march will be followed by a series of protests on Wednesday and Thursday by a variety of coalitions and groups campaigning on a range of subjects, from poverty, inequality and jobs to war, climate change and capitalism.

In the run-up to the summit, Prime Minister Gordon Brown has been visiting a number of countries seeking support.

On Friday, during a visit to Chile, he said people should not be “cynical” about what could be achieved at next week’s summit, saying he was optimistic about the likely outcome.

Map of the march


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October 3, 2008

House set for fresh bail-out vote

House set for fresh bail-out vote

Pedestrians outside the New York Stock Exchange on Wall St (02/10/2008)

President Bush has said the bill is the best chance of rescuing the economy

The US House of Representatives is preparing to vote on a $700bn (£380bn) plan to rescue the US financial sector.

Party leaders are hoping the House, which stunned global markets by rejecting the initial plan, will follow the Senate and back a new version.

The House began debating the deal on Friday morning and is expected to vote later in the day.

The Senate bill added about $100bn in new tax breaks in the hope of gaining more support from House Republicans.

The New York stock exchange opened shortly after the debate began and the Dow Jones Industrial Average jumped more than 100 points in early trading.

But earlier in Japan, shares fell to a three-year low. The Nikkei index closed down more than 1.9%, its lowest level since May 2005.

In Europe, shares were relatively flat. In early afternoon trading the UK’s FTSE 100 was down just 18 points, France’s Cac 40 was down nine and Germany’s Dax up seven.

The financial volatility continued on Friday as US bank Wells Fargo announced it would buy troubled rival Wachovia in a $15.1bn (£8.5bn) deal.

The US also reported its biggest monthly job loss in more than five years.

Bush plea

In Washington, House Speaker Nancy Pelosi, a Democrat, has said no vote will be scheduled until the party feels it will pass.

NEW MEASURES IN BAIL-OUT BILL
Increased protection for saving deposits
Increased child tax credits
More aid for hurricane victims
Tax breaks for renewable energy
Higher starting limits to alternative minimum tax

“We’re not going to take a bill to the floor that doesn’t have the votes. I’m optimistic that we will take a bill to the floor,” she said.

When the House first rejected the plan on Monday – by 228 votes to 205 – legislators had concerns about both the content of the plan and the speed with which they were being asked to pass it.

President George W Bush has since urged the House to back his revised bill.

The package is aimed at buying up the bad debts of failing institutions on Wall Street.

Both the Democratic and Republican parties are pressing their members in the House to swing behind the revised bill and party leaders expect it to pass.

This thing, this issue, has gone way beyond New York and Wall Street
President George W Bush

Some members have called for more amendments, which opens up the prospect of further horse-trading up to the point at which votes are cast.

Pressure will particularly be applied to the 133 House Republicans who went against party affiliation to reject President Bush’s bill, correspondents say.

Tennessee Republican Zach Wamp, one of those who voted against the bill on Monday, said he would now vote in favor of the measure despite ordinary Americans remaining “as mad as heck” at the situation on Wall Street.

“You have got to do what you think is right. I thought the right thing Monday was to vote no. And I think the right thing to do tomorrow is to vote yes.”

The bill successfully passed through the Senate on Wednesday after it was amended to raise the government’s guarantee on savings from $100,000 to $250,000.

It also now includes tax breaks to help small businesses, expand the child tax credit and extend help to victims of recent hurricanes.

Most importantly, it extends the tax break aimed at boosting the provision of alternative energy such as wind farms.

It also includes a number of so-called “pork-barrel” measures including tax cuts for rum manufacturers in Puerto Rico and the owners of racetracks.

The additional cost of these unrelated tax breaks – which could add $100bn to the bill – have worried some fiscally conservative Democrats in the House of Representatives.

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