So far it seems that the leaks have been pretty much a damp squib. Hardly news that Saudi Arabia amongst other Middle East countries, including Israel, have been urging the United States to take out Iran's nuclear plants. A number of western countries have no doubt being urging the same course of action. Let's hope that the hack into the nuclear plant's computers has left a sleeping virus which can be reactivated at a moment critique and stop the Iranians dead in their tracks as they are about to use the weapons grade uranium to arm a missile.
George Osborne made a most interesting announcement in Parliament today which should help bring significant benefit to the economy over time and in particular to the North of England and Scotland. The idea seems to be that revenue earned from intellectual property generated as a result of research and development carried out here will only be taxed at 10%. GlaxoSmithKline Chief Executive was asked his views about this proposal on Jeff Randell live this evening and was rather complimentary saying that now there was a level playing field GSK would be looking to take advantage of the opportunities that would now be available at home including opening plants in the UK. This will be good for private sector jobs but it is disappointing that the Office of Budget Responsibility has today forecast that the number of public sector jobs that will go will be 330,000 and not 490,000 as previously forecast. This is a disappointment because as we all know it is the private sector that makes the money that pays the public sector wages out of taxes and too big a public sector means that the private sector has too big a burden to cope effectively. Our economy would be a power house if the public sector was cut in half and of course it could be without any danger to front line services.
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