Monday, May 14, 2007

Bank Governor praises prudence on interest rates...

The Governor of the Bank of England, Marvyn King has told the Financial Times that he is convinced the Bank’s independence has helped improve Britain from being the lowest ranked Group of Seven economy before 1997 towards the very top.

Before 1997, interest rates were used as political tool. They went magically down just before elections and then went back up again after elections.

Gordon Brown's first act as Chancellor ten years ago was to give the Bank independence.

The Tories opposed the move.

The FT's headlined their story: Stability is prize of Bank's independence.


Anonymous said...

I apologise for being a bit off-topic here, but I would value Phil's take on the great Thomas Deacon Academy debate.

The mega-school opens in September down the road in Peterborough.

The headteacher, Alan McMurdo, has been entertaining the blogosphere with his unusual school rules.

No breaks. No playground. And apparently no boredom.

Alan is famous for telling the Sunday Times that pupils will hydrate during the learning experience, which I think means that they will be drinking water during lessons.

One curious feature of this school is that it will answer to Perkins Engines for its discipline and ethos.

If that strikes you as a bit left field, it's a City Academy so what do you expect?

fairdealphil said...


thanks for your comments.

i haven't followed the Deacon debate, though recall seeing a bit about the no playground issue.

just running now, so i'll have to look it up later and come back to you.

Anonymous said...

I heard about the new academy on the radio. It is going to have over 2000 pupils so it would be difficult to have a playground that would cater for this number. The curriculum seems excellent - varied and it seems the school will be open long hours. This will be a boon to working parents. The variety of the curriculum would seem to suggest little opportunity for boredom. I did think that sport would be included but this would not be on site? Peterborough is well endowed with council leisure facilities and sports grounds so I do not think the children will miss out. It seems parents want a playground for the lunch period.

I understand a petition is going around Peterborough to ensure that a playground is made available.

I honestly do not know other than one cannot please everybody. Perhaps the academy is too big which makes space difficult. What is best? I personally would prefer a modern school with all the latest technology and with time spent on learning. No doubt structured sport will be part of the curriculum which does not require a playground. Should parents not take responsibility for their children's leisure activities during non school hours?

Anonymous said...

Liz, Sport is definitely part of Thomas Deacon City Academy. Since it's costing £46 million to build, they will almost certainly be good sport facilities.

But the unusual rules are nothing to do with cost cutting - staff will be paid London rates - and everything to do with the new management.

Headteacher Alan McMurdo reportedly believes that the school students just won't need breaks or unstructured exercise and the people from Perkins Engines who are ultimately responsible for the school apparently back him.

It sounds more like a pressure cooker than a school. If the parents are petitioning for a playground, then that seems sensible. The school is split into colleges, so the playground will not have to take all students at one go.