News that Gordon Brown is axeing the Learning & Skills Councils (known until 2001 as TECs, training and enterprise councils).
This would chime with his claim, back when Labour was in opposition, that the party would reverse the growth of quangos in the UK. Read more
Nancy Pelosi’s visit to London tomorrow is a good excuse to look at how our British speaker compares on the expenses front. With all the fuss made over Michael Martin’s air miles and taxis, you would be forgiven for thinking his office is more spendthrift. The truth is that he is downright cheap.
Ms Pelosi spent about $3m in the first nine months of last year as US Speaker. This included about $16,000 on flowers — a nine-month floral bonanza that cost about double the sum Mr Martin’s wife spent on taxis over almost four years. Read more
Jimmy Cayne, the cigar-chomping, bridge & golf loving boss of Bear Sterns, had a pay packet of $34m last year.
The US bank, which was worth $140bn last summer, has just been bought by JP Morgan for $236m in a desperate rescue mission. Read more