Home
 » ISP News » 
Sponsored

Jeremy Corbyn, UK Has “slowest and most expensive broadband” in OECD

Thursday, September 15th, 2016 (5:39 pm) - Score 1,941
jeremy_corbyn_mp

Politicians and their “facts” often give us a headache and today it’s the turn of the Labour Party’s leader, Jeremy Corbyn, who claims that the United Kingdom has some of the “slowest and most expensive broadband” among the 35 members of the Organisation for Economic Co-operation and Development.

Certainly the United Kingdom has plenty of areas where broadband could be improved and Corbyn has even suggested some potential remedies (here). However the OECD’s own somewhat old and flaky data (here) appears to show that the UK fairs rather better than suggested in his comment, which is a thought being echoed by the Internet Service Providers’ Association (ISPA).

James Blessing, Chair of the UK ISPA, said:

“Jeremy Corbyn is wrong to suggest that broadband in the UK performs poorly internationally. The OECD data clearly demonstrates that UK broadband penetration rates, prices and speeds rank highly among developed countries and the statistics have not yet recognised the significant investments from ISPA members, who use a range of technologies to deliver superfast connectivity.”

The latest EU Digital Progress Report 2016 (data from 2015) is probably a better source of comparative data between countries, albeit only for the EU. At present 71% of the EU can access an NGA broadband connection (90.5% in the UK) and this falls to just 28% in rural areas (47.4% in the UK). Plenty of room for improvement, but by no means the worst.

Add to Diigo
Mark Jackson
By Mark Jackson
Mark is a professional technology writer, IT consultant and computer engineer from Dorset (England), he also founded ISPreview in 1999 and enjoys analysing the latest telecoms and broadband developments. Find me on Twitter, , Facebook and Linkedin.
Leave a Comment
62 Responses
  1. Avatar DanielM

    honestly who listens to this idiot? yet alone the labour party.

  2. Avatar Gadget

    First the Virgin train furore, now this – does not give a lot of confidence to his aspirations to be the future Prime Minister – in fact the phrase “Strike Two” springs to mind

  3. Avatar Chris P

    How dare you or anyone disagree with the almighty leader JC.
    He’ll stare you down and tell you you must unite behind him and the party whilst his aides prepare to smear you in public.

    I’ve enjoyed coming here, i’ll miss it once JC has decreed its undemocratic, spreading lies & ordered its removal from the net and archives.

  4. Avatar Ignitionnet

    The Glorious Leader has spoken… and it is so.

  5. Lies, Damned Lies and Statistics… usually attributed to a politician

  6. Avatar Optimist

    He’ll want to bring it into public ownership.
    Like BT used to be.
    What could possibly go wrong?

  7. Avatar Kevinp

    Obviously never been to Australia before…
    Third world internet speeds for out of this world prices and caps.

  8. Avatar AndrewH

    I find it amazing that just 2 years ago we were saying that the Conservative party were finished and would never get into power again and here we are now. Labour having heard this decided the best thing to do was to tear themselves apart.
    I mean what ingenuity, in the 21st century, move hard to the left. Yeah, that’ll work.
    The thing I struggle with is he actually seems like a nice guy. Just totally totally deluded beyond comprehension.

  9. Avatar timeless

    personally all these who seem to have issues with Corbyn seem to have this belief that the news is actually telling them the truth.. that on top of the lies the Cons used to get into power.

    lm not saying labour is perfect, but there are quite a few who have some integrity..

    for example the Cons main argument against labour was out of control borrowing, yet the Cons have borrowed more in 6 years than any labour government over the past 100yrs not to mention the fact that the deficit has spiralled out of control.

    then you have labour, the problem is the blairites, the media and the Tories who are doing their utmost to try and keep Corbyn from doing his job.. take the anti-Semitism row, from what lm aware the main part of the issue is the fact that Corbyn supports the Palestinians the majority of which have done nothing wrong yet are being beaten etc by the Israelis yet these views seem to be being twisted into labelling him as anti-Semitic.

    then you have the leader elections again, Owen Smith pretty much copied every one of Corbyns policies word for word and called them his own, then you have those trying to keep Corbyn voters from voting by removing them many of which are being given reasons like they said something on facebook or used to support another party..

    on the note of privatisation and renationalisation.. everything goes wrong in privatisation, l think the fact we are being shafted by every service sold off in the thatcher years now proves that fact.

    • Avatar Evan Crissall

      Well said that man timeless. Not happy to visit what should be a politically-impartial technology news site, like this one, to find the news author drowning out facts with his own Right Wing political bias and rhetoric. We’re not all blue-rinsed Tories, Mark!

      To be blunt Mark, your grasp of basic economics is also very lacking. If you don’t like Corbyn, then fair enough, but it’s very gauche to let your personal political views cloud your copy.

      Reminds me of EEVBLOG, the electronic engineering weblog and forum – run by a loudmouth Ozzie who rants incessantly about immigrants. After a while you just gotta turn him off!

    • Avatar TheManStan

      And in the final year of labour government more was borrowed than by any other government in a any given single year! A very good omission…

    • Clearly you’ve not been reading long enough Evan as over the years we’ve also blasted Conservative, SNP, UKIP and Liberal Democrat politicians with equal measure when they’ve said things that are factually incorrect or misleading on the broadband front.

      Likewise we usually get blasted by one or two for daring to criticise any of them.. “Labour stooge”, “Conservative stooge”, “SNP stooge”, we’ve heard it all. But I’ve never been one to stay silent and I don’t believe in loyalty to a specific party. Silence is the enemy of free speech and I happen to agree with some of Corbyn’s policies. I also voted to stay in the EU, if you must know.

      So are we not allowed to do the same with Corbyn, is he protected from criticism? Incidentally I didn’t vote for a “right wing” party at the last election either and holding a view on the economy, which you’ve also incorrectly categorised through the dangerous veil of gross over-simplicity, does not make a person all of one thing.

      Now Corbyn would be right if he was specifically talking about the level of FTTP/H coverage in the UK, but his comment spoke more generally about speed and cost, which makes it factually incorrect. I don’t have to argue that, the evidence is linked and the news story reflects a criticism by the ISPA.

      In the end I can’t force you to gain the education you need to understand the facts you read or to (in general) accomplish logical reasoning. But I really, really wish you would. On the upside I trust you won’t be visiting anymore, so have a good day and thanks for visiting.

    • Avatar Chris P

      @ Mark
      ” I also voted to stay in the EU, if you must know”

      there you go again with your anti Corbyn remarks!

      ffs you must unite with the leader regardless of the detail or your own beliefs, else you and the rest of the media are against him.

    • Avatar New_Londoner

      @MarkJ
      For what it’s worth, I didn’t take your comments in the story to be in any way “political”, merely a statement of fact – ie calling out a politician for making a statement that clearly ignores the evidence. Difficult to see how that makes the site “political” given the subject matter of the statement in question was broadband.

      Suggest that some people develop a thicker skin and read what you’ve said properly before commenting. It would be great if we all become more critical of any politicians when they are clearly deviating away from facts.

    • Avatar Ignition

      Just when you think there is a site where you won’t encounter butthurt Corbyn fans who resent any criticism, however justified, of their man.

    • Avatar DanielM

      it’s quite possible Evan is a loony lefty 🙂

    • Avatar Bob2002

      @Evan Crissall

      >”Reminds me of EEVBLOG, the electronic engineering weblog …”

      I’ve spent a fair amount of time on EEVblog, both watching videos and on the forums, and I’ve never heard mention of Dave Jones’ politics – also very enjoyable “blog”, I recommend it to anyone whether they’re interested in electronics or are just curious.

  10. Avatar Evan Crissall

    [admin note: personally offensive trolling comment removed]

    • Avatar Dumb argument

      “Silence is the enemy of free speech”

      And you will be silence here if your speech is considered far too free.

    • Avatar New_Londoner

      To be fair to Mark, in my view he is remarkably tolerant with people – you have to try pretty hard or resort to abuse before comments are removed. Some people on here though are very intolerant of views that differ from their own, do not appear to understand the difference between their personal opinion and fact.

      Abusive comments should be removed and abusing the editor is pretty idiotic. Courtesy costs nothing!

    • Avatar FibreFred

      Some of his persona’s have been banned before and no doubt will be again, shame he doesn’t get the message but.. that’s trolls for you.

    • Avatar Evan Crissall

      Sorry, Mark? You’ve taken offence because I’m highlighting your strong support for the Conservatives’ Economic Austerity policy.

      Your personal political views are clearly completely juxtapose to those of Jeremy Corbyn. Inevitably annoyING a considerable bloc of your readership. Not a criticism as such; just an observation.

      Of course we’re all entitled to take a political stance on any subject. However it’s disingenuous to pitch yourself and your site as being accommodative, and reflective of all political views.

      You censored my message not because it was “trolling”; because it wasn’t, but because it was embarrassing to you.

      Mark: It’s fair to you say you’re on the Right Wing of the Tory Party; a Free-Marketeer, Pro-City of London, Corporatist; Pro-Big Business; Anti-Socialist, Anti-Public Sector, Anti-Public Investment, etc.

      If making those observations is “trolling”, perhaps you should quit running a public forum.

    • Avatar FibreFred

      “If making those observations is “trolling”, perhaps you should quit running a public forum.”

      Or just keep banning you and your many forms and keeping running a good site.

      If the site and its content upsets you, jog on

    • Avatar Dumb argument

      For what it is worth I DISAGREE with basically all of Evans views regarding Corbin. I personally think the man would ruin the country even more than it already is.

      I do not have to then attack a person and call them names over who they support politically.

      I realise that if someone thinks freedom of speech is a good thing they should not be editing others speech no matter how rude, stupid or misled it maybe. Which seems to apply to both sides of this out of control back and forth brain dead dross this news items comments have become. Stupid is as stupid does.

  11. Avatar dragoneast

    Sadly we seem to have developed this tendency to take our opinions, call them facts, and then blame everyone else for failing to face facts for merely disagreeing with us. Perhaps we need to add to the old adage that we are entitled to our own opinions, but not to our own facts, that we ahould try to understand the difference. As a little guide, I often find that facts are those things I wish were otherwise. I alwaya have pity for those people who are never wrong and slate off everyone who disagrees with them, since they never have the opportunity to learn anything. Carry on with the good work even (or rather, especially) when it irritates us; but you didn’t need me to tell you that.

  12. Avatar Ethel Prunehat

    There doesn’t seem to be a link to an original source here. I’ve googled and all I can find is this story, a press release from ISPA and stories from years ago. Where is this story from?

    • I believe it’s from a section of the speech he delivered on Thursday at Bloomberg, which you won’t find covered much online because everybody was more focused on his other Q&A remarks.

    • Avatar Evan Crissall

      That’s the problem – without any primary source, it’s just Mark’s right wing spin – anti-Corbyn, anti-socialist, pro-BT propaganda. A gauche hatchet job, from an allegedly “impartial” tech site; an unjust, online assault on the elected leader of the Labour Party. Same old, same old.

    • Avatar New_Londoner

      @Evan
      See below for a more expensive quote and link to the transcript for the whole speech. You will need to retract your comments as Mark is clearly right, the segment of the speech referencing broadband has factual errors.

    • Avatar Evan Crissall

      Thanks, New_Londoner, but I find no evidence that Corbyn’s speech contains “some pretty basic, factual errors”. You’ve claimed there are basic errors in fact, so what are they? Name them below, please, with supporting evidence.

      Mark Jackson doesn’t even bother extracting the OECD data for the sake of comparison. Going further in admitting that the online OECD data he can find is very old and obsolete.

      Earlier, I did actually post a reference to the Financial Times article that shows graphically that, in terms of FTTP availability, Britain is quite literally at the bottom of the global table [of FTTP available across dozens of major developed nations]. Which very much echoes what Corbyn was saying.

      For reasons know only to Mark, my message and the ft.com link were deleted. My contribution falsely written off as “trolling”. Seems that’s Marks’ standard operating procedure — airbrushing inconvenient criticism as “trolling”. Poor show.

  13. Avatar Ethel Prunehat

    Thanks. It would have been nice to see bit of what the ISPA press release was a response to, to put it in context – not least to keep a certain over-sensitive fan-club quiet.

    • Avatar New_Londoner

      But our economy lets us down badly in the provision of skills, and the provision of digital infrastructure.

      Our broadband access is amongst the slowest and most expensive in the OECD.

      And our schools are overwhelmed by testing. Our further education system has been whittled to the bone. Adult learning slashed. And our universities charging higher and higher fees.

      So as part of our infrastructure investment commitment, we want to see superfast broadband delivered to every part of the country.

      From the transcript at http://labourlist.org/2016/09/jeremy-corbyn-reckless-tories-wandered-into-brexit-now-they-are-scurrying-away-from-the-mess/

      “We know this can make a difference.

      The turnover of Cornwall’s digital sector grew 153 per cent in the last year, well ahead of London. The local press have started saying Cornwall can be “Britain’s Silicon Valley”.

      This is on the back of a £136m EU-funded scheme to introduce high-speed broadband.

      That’s how we can start to turn around those parts of our country that have suffered underinvestment for too long.”

    • Avatar New_Londoner

      Some pretty basic, factual errors in the speech!

    • Avatar Evan Crissall

      You keep claiming there are errors of fact. So what are they, New_Londoner? List each supposed error in the speech below, please. And provide corroborative and verifiable proof to support each of your claims, please. Thank you in advance.

  14. Avatar Chris P

    Yeah new_londoner, how dare you contradict JC in the media like this!!!
    Maybe you should out yourself as new_labour and be done with it!

    Sarcasm aside it’s truly amazing what lengths the corbyn brigade will go to to twist the truth to ensure their Messiah can do no wrong.

    If Corbyn and supporters keep drinking this cool side and believing their warped view/skew on things we will all be screwed if they ever come to power and start squandering our tax money on nonsense projects they don’t understand the detail of.

    • Avatar timeless

      if you wish to talk about squandering money, the biggest drain is Trident, l dont see how mutually assured destruction is a good thing to spend money on.. or the millions we send to the royals.

      or what about the welfare reforms, the bedroom tax (the spare room subsidy as the Cons like to call it) or universal credit, both were supposed to make savings but have ended up costing significantly more (and the kicker is the reforms werent voted in, they were actually democratically voted out but Cameron used an archaic law called financial privilege” to bypass democracy.

      then you have the privatisations, Royal Mail massively undersold.. and there was talk of RBS going for a 12bn loss before Osborne got sacked.. now while l didnt agree with everything the last labour government did there was growth towards the end, which promptly declined and has continued to since the Cons got in, but the sad part of it is on the most part ppl seem to forget in a good economy money moves through many hands, currently austerity is only make sure that money is only moving through the hands of those complicit in the financial crash and those who use tax havens.

    • Avatar Chris P

      I don’t want to talk about squandering money, I do want to talk about network interconnectivity which is why I’m here.

      Whilst I supported the banks being bailed out, I suspect that was the largest taxpayer funded expense of the century, all on the last Labour government’s watch. The icing on a disastrous cake that started with TB inheriting a booming economy and ending in recession, inequality, and false wars sold to the nation on lies at the cost of hundreds of thousands of lives, and you want us to blindly believe a bunch of nonsense from JC who has no idea about what this is and is just trying to gain credibility by talking to the business press.

      maybe http://www.guardian.co.uk is more your scene

    • Avatar AndyH

      If you count what was put into the banks and what will be taken back, the government will make a profit on the bailout of the banks.

  15. Avatar Evan Crissall

    Jeremy Corbyn says: “Our broadband access is amongst the slowest and most expensive in the OECD.”

    Mark Jackson says: “Corbyn would be right if he was specifically talking about the level of FTTP/H coverage in the UK, but his comment spoke more generally about speed and cost, which makes it factually incorrect.”
    =====

    Well, let’s examine those two metrics separately – (i) speed and (ii) cost of broadband in Britain, compared to rest of OECD nations :-

    On point (i) Britain ranks last out of 30 OECD nations for Fibre coverage to premises in OECD countries (end-2015). And where “fibre” means “FTTP and FTTB/VDSL”

    Here’s the chart to illustrate that graphically:

    http://imgur.com/a/rkaKo (taken from http://stakeholders.ofcom.org.uk/binaries/telecoms/policy/digital-comms-review/July_2016_progress_update.pdf)

    So if we’re gauging availability of “ultrafast broadband”. That is, availability of speeds consistently above 80Mbps, then broadband access in Britain is indeed “among the slowest in the OECD.”

    As for Britain having some of the most expensive (ultrafast?) broadband? Maybe someone else can do the number-crunching across those same OECD nations?

    Certainly if one factors in the distance-based charges of installing FTTP on Demand — potentially running into thousands of pounds per household — then, sure, ultrafast broadband in Britain is a very expensive business.

    Back to Corbyn though. Amazing how these news trolls and corporate media shills still hound him over nothing! Torturing the semantics of a single sentence he utters, or the precise technical interpretation of one word in his speech. How thoroughly boring!

    • Avatar FibreFred

      As usual you are making things fit yourself.

      He didn’t say fibre
      He didn’t say ultrafast

      It didn’t take me long to point this out
      It didn’t take me long to write this

    • Avatar GNewton

      @Even Crissall: “Certainly if one factors in the distance-based charges of installing FTTP on Demand — potentially running into thousands of pounds per household — then, sure, ultrafast broadband in Britain is a very expensive business.”

      To the best of my knowledge, no ISP currently offers fibre-on-demand. Correct me if I am wrong.

    • Avatar Chris P

      You do realise (given the posts I guess this is news to you) that virgin medias copper based coax network is capable of reaching speeds in excess of 200 mbs and considered ultra fast. Fibre is not the only technology that can deliver ultrafast. FTTP/H is expensive because it’s expensive, it’s not BT or whoever trying to gain excess profit. B4RN etc run thier own net with no obligation to wholesale or to have redundancy or resilience and have a relatively small target audience with high uptake which means different design decisions and less cost due to greater utilisation.

    • Avatar wireless pacman

      Amazes me that Evan rants n rants and then as “proof” comes up with a post that essentially agrees with what Mark said to him in the first place! 🙂

    • Avatar FibreFred

      Lol yeah indeed wireless

      Tho he is famous for his back pedals

    • Avatar New_Londoner

      @Evan
      Suggest you read the transcript and stop “reinterpreting” it to try and justify the comments. Jezza said “broadband “, made no reference to fibre, ultrafast or FTTP/B. On broadband, the U.K. compares well as google will confirm, is demonstrably not bottom for speed or price as claimed.

      Also, on an admittedly more pedantic point, the deployment in Cornwall was not *funded* by the EU, it was part-funded by the EU – yes the majority but rather less than the amount claimed in the speech. Why is this important? It is vital politicians stick to fact where they exist, otherwise we’ll end up with more people like Trump or even Goebbels to take extreme examples. Once the truth becomes elastic we head towards the type of society memorably described by George Orwell in 1984.

      More worrying is the trend of “activists” to troll any attempt to highlight any shortcomings of the politicians. These modern day Sturmabteilung or brownshirts pounce on even the slightest criticism, don’t flinch at resorting to misogyny and anti Semitism to shout down opponents. An exaggeration? Sadly no, as a quick search will highlight. Physical threats and violence are becoming more common too, even directed against elected MPs.

      To draw on Hilary Clinton, a few hundred thousand deplorables does not make it right, it just becomes the new nasty party. Arguably more worrying is the prospect of Comrade Corbyn’s Lenin being displaced by McDonnel’s Stalin in due course.

      So don’t try to justify clear errors by shouting down others, asserting bias and that your free speech has been transgressed. Jeremy was wrong and you were wrong to defend him by pretending he said something else.

    • Avatar fastman

      what utter rubbish — traingate said everything you need to know — get poorly briefed !!! and then try and blame some one else

  16. Avatar dragoneast

    As my dad used to say “Don’t wrestle with a pig (or a politician). The pig likes it, and you’ll both get filthy”. And I could add, won’t be able to see a thing.

    • Avatar New_Londoner

      Tempting to agree but the problem is that if we don’t challenge trolls their voices dominate and drown out truth. As was said about Hitler:

      “Not that one man had the courage to be evil. But that millions had not the courage to be good.”

    • Avatar dragoneast

      Tempting argument, I’ll admit. Though I wouldn’t compare any of our politicians or commentators to Hitler, or Jesus Christ for that matter. The trouble with simplicity, the “I’ll make it happen” school of thought is the only way you can do that is through violence and intimidation. Anything else requires persuasion, working with those people who overwhelmingly don’t agree with you; and why politics has been described as the art of the possible rather than the acts of the righteous. To be leader of the opposition you don’t have to worry about practicality though.

    • Avatar dragoneast

      If you do want to make the comparison though, Hitler had a very good grasp of detail, and understanding of his subject. Still at the end of the day it wasn’t better than anyone else’s though. Fooling people is darned hard work.

  17. Avatar Evan Crissall

    Let’s take a reality check.

    Corbyn has promised to invest £25bn into fibre optic broadband rollout (FTTP/FTTB/FTTH). To remedy the dire situation we’re in today. Where Britain languishes at the bottom of the class for FTTB, out of 30 OECD nations. See here:

    http://imgur.com/a/rkaKo

    Corbyn intends to fund that massive £25bn telecoms infrastructure investment in FTTP through Public Credit issued by a new National Bank.

    So what does that mean? How would it work?

    Well, his plan is to rip-up and replace the Bank of England’s existing Quantitative Easing programme.

    Currently that Quantitative Easing programme sees the BofE injecting new money into the private banks. Those banks swap that new QE money for their “assets” – their loan-books and other credit-backed securities. Much of which are “toxic” debts with very high default rates, etc.

    But those private banks can do as they please with that new fresh capital from QE.

    The BofE hopes that the private banks will loan that new cash out to businesses. Stimulating the economy. That’s the dream.

    Or, instead, the private banks can “invest” that new money into the derivatives trade. Gambling it away, frittering it, pissing it up the wall. To prop up the banks’ collapsing house-of-card positions on the global derivatives markets.

    Alas, in many cases, that is exactly what the private banks are doing with that new QE money. They’re speculating with it. Consequently, the net effect from Quantitative Easing is no positive gain whatsoever for UK PLC.

    —-

    What Corbyn’s team says is this – and this is old hat, it’s the same policy used Roosevelt, Lincoln, Washington and Alexander Hamilton.

    They all have said :- divert all that new “helicopter money” from QE, and loan it not to the private banks, but inject it directly into public infrastructure development.

    Including, says Corbyn, £25bn of new money to invest into the rollout of FTTP across Britain.

    The policy blueprints are out there for those who want to research them.

    We chatted a few months back with some economic advisors who’d flown in from Australia to assist Corbyn’s team with this.

    Australia has a long history of using Public Credit for infrastructure development.

    Australia’s Commonwealth Bank, founded by King O’Malley, was a National Bank, for infrastructure development. It worked magnificently. Google it.

    —–

    So, instead of wallowing in the crap from the news ‘tards; trawling over the semantics of one sentence in Corbyn’s speech. Arguing the toss over minutiae. The fact he didn’t distinguish between “ultrafast” broadband and “superfast” broadband, maybe go read-up on this.

    Go and research Public Credit, National Infrastructure Banks, the BRICS group, the New Silk Road, the Asian Infrastructure Investment Bank, and so forth.

    Here’s a good starting point:

    http://cecaust.com.au/main.asp?sub=articles&id=credit-system.html

    • Avatar Evan Crissall

      If you’ve just five minutes to spare – on understanding national economics – then maybe read this:

      http://cecaust.com.au/aas/images/vol18no34/AASVol18No34-The-Hamiltonian-principle-of-a-National-Investment-Bank.pdf

    • Avatar FibreFred

      Desparado

    • Avatar MikeW

      The only reality check needed here is that you wish Jezza had said something else in his speech.

      For those that do understand the difference between what he said, and what you wish he said, it tells us his grasp on facts is limited. And if he can’t grasp simple stuff like this, you have to wonder what his grasp is like on something complicated.

      Rather like wondering how someone can reach retirement age without understanding how the system of booking rail seats works.

    • Avatar Ignitionnet

      QE is actually almost entirely purchasing gilts and reducing the effective interest rate the country pays, leaving more cash for things like infrastructure.

      It’s also not loans. Banks buy gilts, BoE purchases the gilts from the banks. The BoE is indirectly financing the national debt as to buy directly is a big no-no.

      http://www.thetimes.co.uk/article/what-is-the-bank-up-to-it-s-hard-not-to-believe-its-real-agenda-is-monetary-financing-kzm6cfmtr?shareToken=676f5907536cb4cbc296ea1f4e4e6df9

      What QE is already doing is seen a perilously close to violating the BoE’s independence. PQE would without question do so. It’d pump inflation up also, something that hurts the poorest the most, and leave the temptation to pump up booms just before elections.

      Chances are there will be a big infrastructure spend anyway, we’re overdue and it’ll be needed to try and balance the Brexit insanity. Some of this likely to be funded indirectly through the new batch of QE.

    • Avatar Evan Crissall

      Erm, nope, ignition. With so many canards in your post, where do we even begin?!

      >> “QE is actually almost entirely purchasing gilts”

      Nope. From the horse’s mouth. Here’s how BofE describes its current QE programme: http://www.bankofengland.co.uk/markets/Pages/apf/default.aspx

      BofE injection of new QE money accepts following assets classes in swaps for that new helicopter money:-

      £100bn swaps for loan collateral – swapping the private banks’ credit-backed securities – loan-books,MBS,CDOs – for new QE money.
      £60bn government gilts
      £10bn corporate bonds

      >> It’s also not loans.

      Yes it is predominantly loans (over 50%). See above.

      Go read the “Loan Collateral Transfer Terms” to BofE’s Asset Purchase Facility in its current Quantitative Easing programme :-

      http://www.bankofengland.co.uk/markets/Pages/apf/termfunding/documentation.aspx

      >> What QE is already doing is seen a perilously close to violating the BoE’s independence.
      >> PQE would without question do so.
      >> It’d pump inflation up also, something that hurts the poorest the most, and
      >> leave the temptation to pump up booms just before elections.

      The BofE is not “independent”. Independent of whom? City of London? Private banks?! BofE is a private central bank, controlled by the Money-Power since William of Orange.

      It’s a cruel contradiction to claim the existing QE programme — printing $8 trillion of new money – and swapping it with private banks for their toxic paper – is not inflationary??

      Whereas you’re slating Corbyn for his modest £500bn proposal for Public Credit? Founding a new National Bank to directly invest in public infrastructure, à la Roosevelt’s New Deal. Including £26bn invested in universal FTTP rollout across Britain; secured on future network access fees. Somehow you reckon that WILL be inflationary?

      Please explain better.

      —–

      You’re certainly an enigma, ignition! Flaky counter arguments. While buttressing status quo. Controlled Opposition they call that.

      Making notional criticisms of telecom incumbent. While undermining alternative proposals. Denigrating plans for re-structuring telco industry with realistic new funding methods for FTTP rollout.

      That’s presumably why the BBC pimped out you and your blog. You present a convenient illusion as an “independent critic.” But expressing opinions that pose no credible threat to BT Group. Nor to its existing structure. Insisting, for example, that Openreach remains integral, yet obscenely-underfunded asset of BT Group.

      That’s what they call “controlling both sides” in a debate. Manufacturing phony opposition that presents no real alternatives. *sigh!*

      Below, an easy-read article on People’s Quantitative Easing from researchers in Australia :-

      http://cecaust.com.au/releases/2015_08_17_Peoples_QE.html

    • Avatar New_Londoner

      @Evan
      I note you continue to base your comments on what you think Jeremy Corbyn meant rather than what he actually said, and then veering off into side discussions about QE etc.

      The fact remains what he actually said was wrong, and you in turn were wrong to criticise those that said so. As I commented above, you and members of the Momentum Sturmabteilung are far worse than your so-called “news tards” (an awful phrase by the way), the latter simply standing accused by you of daring to hold people to account for what they say.

      Trolling and intimidation do not change the fact that Jeremy was wrong, just like he was “wrong” (i.e. Lied) about the lack of seats on that Virgin train – you know, the one where Virgin was criticised for calling out the deceit to distract from the subterfuge. You have to question the suitability of someone to lead if they are not truthful, wont accept criticism and stand by rather than deal robustly with misogyny, anti Semitism, bullying and worse.

      Trying to rewrite the past to suit your agenda doesn’t work, this isn’t 1984 despite the best efforts of the “geese”!

    • Avatar MikeW

      Anyone notice the most recent Virgin Trains advert?

      It shows a woman, dressed as a fish from previous adverts, but checking the seat reservation before sitting down anyway. Subtle.

      Too subtle for Jezza, presumably.

  18. Avatar dragoneast

    Yeah, we’ve read the textbook. Funding anything is 10% of the problem. What about the rest of the iceberg? It all relies on Government “picking winners”. Lovely theory, much harder in practice. The world has moved on since the days of Roosevelt, Lincoln, Washington, Hamilton and O’Malley. Has Corbyn?

    I don’t rubbish his ideas. They have something in them. We can and should learn from everybody, even the dull and ignorant. But, there is no magic wand; and life always throws up the unexpected. In particular, nothing quite turns out “as it should”.

  19. Avatar fastman

    I don’t know what worse a politician / aide who pays full fare on a train when he could have booked in advance and saved money and reserved a seat or someone who then pays full fare and tires to score a political point by complaining there are no seats – one might be inept the other imcompotent I will leave to you choose which is which

Comments RSS Feed

Javascript must be enabled to post (most browsers do this automatically)

Privacy Notice: Please note that news comments are anonymous, which means that we do NOT require you to enter any real personal details to post a message. By clicking to submit a post you agree to storing your comment content, display name, IP, email and / or website details in our database, for as long as the post remains live.

Only the submitted name and comment will be displayed in public, while the rest will be kept private (we will never share this outside of ISPreview, regardless of whether the data is real or fake). This comment system uses submitted IP, email and website address data to spot abuse and spammers. All data is transferred via an encrypted (https secure) session.

NOTE 1: Sometimes your comment might not appear immediately due to site cache (this is cleared every few hours) or it may be caught by automated moderation / anti-spam.

NOTE 2: Comments that break our rules, spam, troll or post via known fake IP/proxy servers may be blocked or removed.
Cheapest Superfast ISPs
  • Hyperoptic £18.00 (*22.00)
    Avg. Speed 30Mbps, Unlimited
    Gift: Code: HYPER19
  • Vodafone £22.00 (*24.00)
    Avg. Speed 35Mbps, Unlimited
    Gift: None
  • TalkTalk £22.45
    Avg. Speed 38Mbps, Unlimited
    Gift: None
  • Direct Save Telecom £22.95 (*29.95)
    Avg. Speed 35Mbps, Unlimited
    Gift: None
  • Origin Broadband £23.00
    Avg. Speed 35Mbps, Unlimited
    Gift: None
Prices inc. Line Rental | View All
The Top 20 Category Tags
  1. BT (2412)
  2. FTTP (2008)
  3. FTTC (1599)
  4. Building Digital UK (1550)
  5. Politics (1345)
  6. Openreach (1338)
  7. Business (1182)
  8. Statistics (1045)
  9. FTTH (972)
  10. Mobile Broadband (969)
  11. Fibre Optic (944)
  12. Ofcom Regulation (882)
  13. Wireless Internet (864)
  14. 4G (851)
  15. Virgin Media (811)
  16. Sky Broadband (576)
  17. EE (558)
  18. TalkTalk (557)
  19. Vodafone (471)
  20. Security (395)
Promotion
Helpful ISP Guides and Tips
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
Sponsored

Copyright © 1999 to Present - ISPreview.co.uk - All Rights Reserved - Terms , Privacy and Cookie Policy , Links , Website Rules , Contact