The quality of public debate on devolution in Scotland stands as an example of what can be achieved
The quality of public debate on devolution in Scotland stands as an example of what can be achieved. One has only to think about the urgency and complexity of issues like the single currency to realise the challenge that awaits government and teachers alike. Tony Blair's government has embarked on a great programme of political reforms. The fostering of a generation of responsible citizens has the potential to be the vital human underpinning of those changes.. "IT'S disgusting It's revolting. But the quest for stability carries a price in higher taxes, and this does not explain the ease with which these countries have sold this burden to their electorates.
The first is why? Why has it suddenly become the dominant force not just in European politics, but in most mature democracies? After all, one of the reasons why President Clinton is so popular is that he appears to be delivering a balanced budget.As far as European countries are concerned there is, of course, the immediate pressure from EMU, which is forcing the countries with a record of instability to try to lift their game. And tomorrow we will get a feeling for how the European Union (EU) proposes to cope with the potentially destabilising effect of the high-debt EMU members - countries that do not formally comply with the entry criteria, but which will become founder members of EMU none the less. This drive for stability raises two questions. We had a dose of the UK version last week from our own Gordon Brown. At the weekend we had the European version from Theo Waigel, the German Finance Minister, suggesting that the economic and monetary union (EMU) stability pact should be brought forward. Yesterday this was endorsed by Yves-Thibault de Silguy, the European commissioner for economic and monetary affairs. STABILITY This is the new buzz-word of finance ministers.
The deal is thought to be worth about pounds 20m.Several shares moved ahead of results announcements today. Computer components distributor Datrontech, which is expected to unveil pre-tax profits of about pounds 6m this morning, gained 16p to 134p. Food group S Daniels, which recently bought the New Covent Garden Soup Company, also put on 14.5p to 65p ahead of today's figures.. The move will ease pressure from institutional investors who are keen for Greg Hutchings' conglomerate to return spare cash to shareholders. The shares are up by a fifth since the beginning of the year.Meanwhile, electronics tiddler Silvermines added 3p to 46.5p after announcing a deal to supply transmitters for digital terrestial television to Castle Transmission International, the former BBC transmission arm.
It gained 3.5p to 360p after buying privately owned fluid control group Schrader- Bridgeport for pounds 112m. Mobile operators Vodafone, down 18p at 596 and Orange, down 11p at 412p, were out of favour as was local operator Colt Telecom, which slipped 65p to 1505p.A Henderson Crosthwaite recommendation continued to lift electronics group Bowthorpe, which hit a new high of 478.5p, up 5p.The broker reckons the company is enjoying strong growth in its markets and that recent difficulties in the semi-conductor industry are now in the past.Tomkins was one of the few Footsie stocks to make any headway. They were 18.5p less than a year ago.Telecoms companies gave up some of their recent gains as the speculative money rushed elsewhere. Analysts argue that the shares, which added 2p to 68.5p, are worth more than 100p if conventional information technology sector multiples are applied. Investors are beginning to warm to the stock, which was one of the most disastrous new issues of recent years.
Rival JD Sports gave up 5p to 123.5p.The bid battle enveloping luxury hotel group Savoy helped its non-voting A shares up 137.5p to another all-time high of 1887.5p. Shares in major shareholder Granada, which is bickering with the Wontner family about who gets the majority of the spoils, put on 3p to 1038p.Computer services group MDIS continued its recent rerating. The shares have fallen 18 per cent since hitting an all-time high of 822.5p a few weeks ago. The effect was exasperated for Asda by the shares going ex-dividend.