The Obscurer

Month: December, 2009

It’s A Wonderfuel Life

I can’t say I’m happy about the changes over at Eastlands. I actually went to the City-Sunderland game – my first live match for some years – but all through Saturday evening I kept mulling over what I feel has been a disastrous and self-defeating decision. It’s truly shocking. Just when did they change the supplier for the Meat and Potato pies? I’d been looking forward to their unique qualities all Saturday and I couldn’t believe it when they fobbed me off with some bog-standard Holland’s effort for the absurd sum of £2.50. I blame the Cook. But that’s that anyway, I’m done with them; that was the last pie I ever buy at the City of Manchester Stadium.

Ha-ha, do you see what I did there? Meanwhile I just find it depressing that City’s current owners – who hitherto had seemed to be doing just about everything right at the club – decided to take a leaf out of the Big Book of Football Stereotypes and act in the impatient and short-termist way that foreign billionaire owners are expected to. It doesn’t take much to squander the vast reserves of goodwill I had for them, as I was grateful that they took over from Thaksin Shinawatra then behaved impeccably and honourably from thereon in; but that’s what they’ve done, and it will be a long hard slog for them to earn my respect again (although, being a fickle fan, winning some trophies will go some way towards doing that, no doubt).

But I’ll give them their due; they’re feeling their way into this football club ownership lark and I know where they’re coming from, as I’m feeling my way back into blogging since my recent hiatus. That’s perhaps why, on reflection, I wish I hadn’t bothered with that last post on the bankers’ bonuses, a clumsy collection of loose semi-thought bundled together in a post, the existence of which is partly thanks to the fact that I had a free afternoon. So as I’m approaching my usual Christmas sabbatical I’ll try to tidy this place up a bit and not make such a mistake again. Some hope. But in that vein I’ve ditched those weekly twitter digests that were just cluttering the place up in the absence of any other posts. If you want to read my twitterings then you can always follow them here, and they are also duplicated on my tumblelog over here; there really is no need to triplicate them, so now, if I can’t think of anything worthy of a full post then this site will simply go quiet, but I will always be back.

While in the mood to tidy up I think I’ll finish off this story from last year, because I hate leaving loose ends lying around, I really do. You’ll recall, perhaps, that British Gas had doubled our direct debit payment, despite our being in credit? Well they had. And last Winter came and went, we shovelled money to the gas board hand over fist, and in the Spring we found that those payments had just about covered our seasonal usage, and so we were still over a hundred pounds in credit. Time, perhaps, to rethink the level of our monthly payment? Well British Telecom and E-On thought so; our telecoms provider gave us two free months as we were in credit with them, while our electricity supplier refunded our credit and lowered our monthly payment. But from British Gas we heard nothing.

Summer arrived, then Autumn, during which, of course, our gas usage plummeted while our payments remained sky high, and by the time of our October statement we were now some £315 in credit. Time, now, surely, to readjust our payment amount? I’d have thought so, but perusing our gas bill I found a notice warning against this, as British Gas said that they strongly suggest we all wait until the Spring before any payment amount is altered. If only they’d stuck to this policy the previous year, when they’d hiked our monthly direct debit in Summer and Autumn; then, perhaps, our account wouldn’t have gone in credit to the value of China’s trade surplus? Well anyway, I couldn’t be bothered waiting until Spring, and I couldn’t be bothered negotiating with British Gas, so we skipped over to E-On for a dual-fuel account, a process that took around six weeks, buy which time our account had become £415 in credit. Only then, once we had left, did British Gas finally repay us.

So a happy story in the end in which everyone is a winner. E-On has a new customer; British Gas earned a paltry sum of interest on our money; and I have a tidy lump-sum to spend as I wish. I know I could moan about British Gas earning interest that should have been mine, but unless yields on pissing money against the wall have risen sharply in the past year I wouldn’t have done anything of note with that spare cash. As it is, their crazy direct debit policy has turned out to be an unlikely savings plan. So ultimately, and ironically, I end this tale with a sincere and honest “Thank you, British Gas”; because this year, after a fashion, Christmas is on you.

The Bankers’ Arms

Yesterday’s Newsnight was predictably devoted to the Pre-Budget Report – or Autumn Statement, as I sometimes inaccurately refer to it – wherein Paul Mason reported that he had spoken to some bankers in the City of London and they were livid about the announced plan to tax any discretionary bonus of theirs worth over £25,000 to the tune of 50%; some, apparently, were even considering legal action. Could you be bothered? I’d have thought that their time would be better spent picking over the cornucopia of avoidance measures that will be springing up and agonising over which one to plump for. I’m similarly puzzled at the angry claim that this will hurt our competitiveness and drive bankers abroad; not by the claim, just by the anger. Why get yourself worked up, huffing and puffing about the injustices of the world, if you can simply hop on a flight to a more friendly environ?

The thing is that, unless you are a bingo-playing pensioner who receives child benefit, there is something for everyone to grouse about from the PBR, and the bankers shouldn’t think themselves anything special. As a public sector worker I’m hardly overjoyed about the forthcoming 1% cap on pay, or the reduction in employer’s pensions contributions; but you know what? Despite the fact that my area of government can hardly be blamed for the more-than-doubling of the national debt that we are going to see, we are where we are and we all need to do our bit to get that debt down, eventually. Others have suffered far worse in this recession. “We’re all in this together,” as someone once said.

The banking sector, I would humbly suggest, bears a somewhat larger responsibility for that ballooning national debt, whether you agree that it was the cause of the crisis, or merely the meek recipient of astonishing sums of public money to prop up its ailing industry, or a bit of both. They have more of an obligation to do their bit, you could argue? And yet what are those City bankers supposed to be moaning about? Will their pay rises be capped at 1%? I doubt it. Have their pension plans just been thrown into doubt? Shouldn’t have. No, they’re apparently complaining that if their bonus – and it is just a bonus, mind, not their salary; and not even their contractual bonus, but rather any discretionary bonus they may receive on top – is greater than the median annual wage in the UK, then their employers will have to stump up a bit more tax. Well my heart bleeds.

Now, I’ve a pretty easy-come-easy-go attitude towards bonuses myself; perhaps it’s because I’ve never come to expect one, the most I ever received amounted to a little more than a couple of a hundred quid, and even then I never felt I especially deserved it. I guess I could see things differently if I relied on my bonus to enable be to buy a Maserati outright, with a discount for cash. But as it is I actually feel somewhat ambivalent on the whole subject of City bonuses. Others, however, are more forthright, and make what do seem to me to be valid criticisms; Chris states that City bonuses are a form of legal extortion, while Duncan claims that in fact the performance of RBS bankers, for example, has in fact been far from stellar. Me, I guess that if bonuses are a problem – and being manifestly unfair may not the same thing as being a problem – then regulation is a better way to deal with them than to impose a quirky, one-off novelty tax to coincide with an impending General Election, and which can probably be easily flirted in any case. In the meantime, though, my searing analysis of the situation is that if that “talent” in the City really is up in arms about something as ephemeral as their bonuses being taxed while others have lost jobs, had their hours reduced or received pay cuts, then those brightest-of-the-bright must be a bunch of utter twonks.

Twitterings: 27th November-3rd December

  • Did you miss me? #
  • Cake – http://snapshot.orange.co.uk/mm8pyz #
  • Looking forward to the City match tonight; at the very least it will end our long run of draws. #
  • Is this the worst press release ever? #