Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
USDT Ponzi Scheme FINAL WARNING To EXIT Before Tether Collapses Crypto Exchange Markets - 22nd Jun 21
Stock Market Correction Starting - 22nd Jun 21
This Green SuperFuel Could Change Everything For the $14 Trillion Shipping Industry - 22nd Jun 21
Virgin Media Fibre Broadband Installation - What to Expect, Quality of Wiring, Service etc. - 21st Jun 21
Feel the Inflationary Heartbeat - 21st Jun 21
The Green Superfuel That Could Disrupt Global Energy Markers - 21st Jun 21
How Binance SCAMs Crypto Traders with UP DOWN Coins, Futures, Options and Leverage - Don't Get Bogdanoffed! - 20th Jun 21
Smart Money Accumulating Physical Silver Ahead Of New Basel III Regulations And Price Explosion To $44 - 20th Jun 21
Rambling Fed Triggers Gold/Silver Correction: Are Investors Being Duped? - 20th Jun 21
Gold: The Fed Wreaked Havoc on the Precious Metals - 20th Jun 21
Investing in the Tulip Crypto Mania 2021 - 19th Jun 21
Here’s Why Historic US Housing Market Boom Can Continue - 19th Jun 21
Cryptos: What the "Bizarre" World of Non-Fungible Tokens May Be Signaling - 19th Jun 21
Hyperinflationary Expectations: Reflections on Cryptocurrency and the Markets - 19th Jun 21
Gold Prices Investors beat Central Banks and Jewelry, as having the most Impact - 18th Jun 21
Has the Dust Settled After Fed Day? Not Just Yet - 18th Jun 21
Gold Asks: Will the Economic Boom Continue? - 18th Jun 21
STABLE COINS PONZI Crypto SCAM WARNING! Iron Titan CRASH to ZERO! Exit USDT While You Can! - 18th Jun 21
FOMC Surprise Takeaways - 18th Jun 21
Youtube Upload Stuck at 0% QUICK FIXES Solutions Tutorial - 18th Jun 21
AI Stock Buying Levels, Ratings, Valuations Video - 18th Jun 21
AI Stock Buying Levels, Ratings, Valuations and Trend Analysis into Market Correction - 17th Jun 21
Stocks, Gold, Silver Markets Inflation Tipping Point - 17th Jun 21
Letting Yourself Relax with Activities That You Might Not Have Considered - 17th Jun 21
RAMPANT MONEY PRINTING INFLATION BIG PICTURE! - 16th Jun 21
The Federal Reserve and Inflation - 16th Jun 21
Inflation Soars 5%! Will Gold Skyrocket? - 16th Jun 21
Stock Market Sentiment Speaks: Inflation Is For Fools - 16th Jun 21
Four News Events That Could Drive Gold Bullion Demand - 16th Jun 21
5 ways that crypto is changing the face of online casinos - 16th Jun 21
Transitory Inflation Debate - 15th Jun 21
USDX: The Cleanest Shirt Among the Dirty Laundry - 15th Jun 21
Inflation and Stock Market SPX Record Highs. PPI, FOMC Meeting in Focus - 15th Jun 21
Stock Market SPX 4310 Right Around the Corner! - 15th Jun 21
AI Stocks Strength vs Weakness - Why Selling Google or Facebook is a Big Mistake! - 14th Jun 21
The Bitcoin Crime Wave Hits - 14th Jun 21
Gold Time for Consolidation and Lower Volatility - 14th Jun 21
More Banks & Investors Are NOT Believing Fed Propaganda - 14th Jun 21
Market Inflation Bets – Squaring or Not - 14th Jun 21
Is Gold Really an Inflation Hedge? - 14th Jun 21
The FED Holds the Market. How Long Will It Last? - 14th Jun 21
Coinbase vs Binance for Bitcoin, Ethereum Crypto Trading & Investing During Bear Market 2021 - 11th Jun 21
Gold Price $4000 – Insurance, A Hedge, An Investment - 11th Jun 21
What Drives Gold Prices? (Don't Say "the Fed!") - 11th Jun 21
Why You Need to Buy and Hold Gold Now - 11th Jun 21
Big Pharma Is Back! Biotech Skyrockets On Biogen’s New Alzheimer Drug Approval - 11th Jun 21
Top 5 AI Tech Stocks Trend Analysis, Buying Levels, Ratings and Valuations - 10th Jun 21
Gold’s Inflation Utility - 10th Jun 21
The Fuel Of The Future That’s 9 Times More Efficient Than Lithium - 10th Jun 21
Challenges facing the law industry in 2021 - 10th Jun 21
SELL USDT Tether Before Ponzi Scheme Implodes Triggering 90% Bitcoin CRASH in Cryptos Lehman Bros - 9th Jun 21
Stock Market Sentiment Speaks: Prepare For Volatility - 9th Jun 21
Gold Mining Stocks: Which Door Will Investors Choose? - 9th Jun 21
Fed ‘Taper’ Talk Is Back: Will a Tantrum Follow? - 9th Jun 21
Scientists Discover New Renewable Fuel 3 Times More Powerful Than Gasoline - 9th Jun 21
How do I Choose an Online Trading Broker? - 9th Jun 21
Fed’s Tools are Broken - 8th Jun 21
Stock Market Approaching an Intermediate peak! - 8th Jun 21
Could This Household Chemical Become The Superfuel Of The Future? - 8th Jun 21
The Return of Inflation. Can Gold Withstand the Dark Side? - 7th Jun 21
Why "Trouble is Brewing" for the U.S. Housing Market - 7th Jun 21
Stock Market Volatility Crash Course (VIX vs VVIX) – Learn How to Profit From Volatility - 7th Jun 21
Computer Vision Is Like Investing in the Internet in the ‘90s - 7th Jun 21
MAPLINS - Sheffield Down Memory Lane, Before the Shop Closed its Doors for the Last Time - 7th Jun 21
Wire Brush vs Block Paving Driveway Weeds - How Much Work, Nest Way to Kill Weeds? - 7th Jun 21
When Markets Get Scared and Reverse - 7th Jun 21
Is A New Superfuel About To Take Over Energy Markets? - 7th Jun 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Labour Sheffield Council Black Bins Collections 50% Cut Encouraging Fly Tipping, Veolia Profits Jump 18.4%

Local / Sheffield Aug 19, 2012 - 07:52 AM GMT

By: N_Walayat

Local

Best Financial Markets Analysis ArticleSheffield residents are increasingly outraged at what they perceive to be the unilateral action by the Labour regime, Sheffield City Council to cut black bin collections by 50%, all without any prior discussion with residents at the ballot box, most of whom only find out of the changes AFTER they find that their black bins have gone uncollected. Leaflets informing residents of the changes were supposed to be have been sent out by the waste management company but have only been received by few.


Other measures have also been adopted for those with larger bins in use to be replaced with smaller 240 litre 'standard bins', so some households will see effective bin collections cut by as much as much as 66%.

The claim by Labour / Sheffield City Council is that this will reduce waste by 10% and cut costs by saving £1.6 million in year 1 and £2.4 million over several years, though at an estimated cost of £1 million to implement, (whose pockets will that money be lining!) so for a net saving of just £600k in the first year which is set against the annual budget of £1.47 billion! Though what these calculations fail to incorporate the impact of high public sector / monopoly services Inflation, which insures that several years from now that we may find that NO monies have been saved. Additionally the argument of cutting waste by 10% is nonsensical because households will still generate the same amount of waste, it's just that less of it will find its way into black bin's and more elsewhere such as fly tipped.

The decision to make these cuts was made by the Council in Feb 2012, led by Cllr Leigh Bramall (Labour). This was despite government funding available as of 30th Sept 2011 for 3 years funding for weekly black bin collections to continue which for political reasons the Labour council failed to apply for this funding.

Both the Liberal Democrats and Labour party are to blame for the fiasco that is Sheffield's waste collections and processing, such as the handing over of Sheffield's incinerator to Veolia after tax payers were forced to spend £25 million on upgrades! The degree of incompetence can be witnessed in the Veolia's company accounts, where the company reported an annual 18.4% jump in profits for 2011 to £119.5 million on revenues of £1,251 million. Therefore even before the latest change a large chunk of your council tax was going towards Veolia's profits, and even more now that black bin collections will be cut by at least 50%, despite apparently Sheffield City Council having another 15 years to run on a 25 year contract for weekly bin collections. This apparent long 25 year contract with Veolia needs to be investigated further into why in the first instance were Sheffield residents signed to such a lengthy contract and secondly why 10 years into the contract are bin collection services now being cut by 50%. At the very least such an investigation will illustrate how incompetent Sheffield City Council are in managing public funds, at worst could reveal alleged serious irregularities in the arrangement of contracts with a whole host of suppliers resulting in a huge waste of council tax payers monies.

The change in bin collections will encourage fly tipping by many residents left with over flowing black bins, many of which could go uncollected due to weight / bin lid closure policies. Therefore escalating cost of clearing fly tipping will effectively end up costing the city council many times more than the pittance that it will actually be saving on cutting bin collections.

Where does your council tax money go ?

According to an analysis of our own personal annual extortionate £2,141 council tax bill, waste disposal and recycling accounts for approx £75, and in total we are in receipt of services amounting to about £503 per year (including contribution towards emergency services). So where does all of the rest of the money go ?

The answer is that the City council over the decades has become a bloated institution that has accumulated many layers of management, monitors, consultants, and a whole host of other money wasting bureaucracy, all to the detriment of front line services, many of which have been contracted out to the private sector under just as bad basis as the contract with Veolia.

Therefore instead of cutting black bin collections by 50% and encouraging more costly to clean up fly tipping, it would be far better to get rid of some of the bureaucracy that pollutes Sheffield city centre, such as those stationed at Howden House that shuffle mountains of paper between office floors all day.

The bottom line is that Sheffield City Council is again demonstrating itself as being unfit for purpose, and It is high time for Sheffield's council tax payers to protest against the latest outrage, to stand up and demand that Sheffield City Council actually delivers the front-line services that residents are forced to pay for rather than witness literally hundreds of millions wasted each year on mostly worthless bureaucracy and a whole host of irrelevant money wasting activities such as fact finding trips (holidays) abroad for councilors, chauffeur driven cars and other perks for councilors and thousands of managers. Therefore instead of cutting bin services by 50% the council should cut management by 50% that will result in savings of several orders of magnitude greater than the net £600k expected.

It is time for a new deal between the Council and tax payers, that new deal should involve the dissolution of most of the services it offers, to make way for a whole of host of small businesses to contract directly with residents, all without the monopoly of abuse of powers that the likes of Veolia can operate under and therefore at far lower cost to the consumer as waste management and other service providers would compete against one another for consumer interest.

Sheffield NHS GP Consortia's

This competition between service providers should not just be limited to the council services but all public services such as the NHS, where implementation of Coalition government reforms is proving to result in the exact opposite anti-competitive consortia's, as virtually all of the Sheffield NHS 92 GP Practices have signed up with one of of 4 geographically located GP Consortia's.

  • Central Sheffield Consortium
  • HASC ( Hallam & South Consortium)
  • North Sheffield Consortium for Health
  • Sheffield West Consortium

The NHS GP reforms being implemented are pushing towards the worst of both worlds, i.e. no market competition and unprecedented GP control over NHS funds that in significant part will be funneled into the back pockets of NHS GP's.

NHS GP Doctors Putting Profit Before Patient Care, Channel 4 News Investigation

During 2011 a Channel 4 News investigation charged NHS Doctors with the subversion of the the coalitions governments NHS reforms to result in NHS doctors pocketing all of the cash saved as a consequence of the NHS reforms, which matches my own analysis of a year earlier that the Coalition Governments proposed reforms were fatally flawed in that they allowed GP's to profit from patient care.

"Your doctor making a profit out of your health care, your GP Sending you to a clinic that he or she owns shares in, we are seeing the biggest shake up of the NHS in its history, Channel 4 news can reveal tonight that there is nothing on the legislation currently before parliament to prevent the outcome no one wants, doctors putting profit before the care of patients, in our special report tonight we show how the new arrangements will create fundamental conflicts of interest potentially harming the trust at the very heart of the doctor patient relationship". Channel 4 News

Channel 4 News investigation key points:

  • Serious flaws in the Governments NHS reforms legislation, it's failure to protect patients against fundamental conflicts of interest, it allows GP's to put profit before patient care.
  • All of the monies saved will go into the pockets of NHS GP's and doctors.
  • GP's during patient consultations factoring in the profit they will make on their diagnoses.
  • GP's referrals on the basis of how much commission they will earn from the heath institution.
  • GP referrals to health clinics that the GP's own shares in.
  • New private health clinics being set up with a view to making profits so that they can floated onto the stock market at huge profit for share holding GP's
  • GP's get access to dip their hands into the annual £80 billion pot of money meant for patient care.
  • GP's draw up the rules themselves on the conflict of interest, akin to writing 100 times, "I promise, I will not fiddle the patients"

Under the previous Labour government patients were treated as credit cards to swipe in and out of door ways as fast as possible to maximise profits. Under the Coalition government patients will now become cash cows to milk to the fullest extent possible, what's best for the health of patients won't even factor into the thought process during GP consultations - "If I send Patient X to Clinic Y for Operation Z, my consortia will earn a commission of £2,000".

The bottom line is that that tax payers are increasingly being forced to pay MORE for LESS services, because there is no concept of value for money in the public sector due to lack of competition for consumers, and even when contracting out to the private sector do so in a manner that is to detriment of services as councils tend to replace public monopolies with private monopolies. Public monopolies are operate as inefficient unproductive entities, whilst private monopolies make huge profits at tax payers expense such as evidenced by Veolia's profit jump of 18.4% in 1 year!

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2012 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of three ebook's - The Inflation Mega-Trend; The Interest Rate Mega-Trend and The Stocks Stealth Bull Market Update 2011 that can be downloaded for Free.

Stocks Stealth Bull Market Ebook DownloadThe Interest Rate Mega-Trend Ebook DownloadThe Inflation Mega-Trend Ebook Download

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 600 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in