Will You Visit Me During Economic Downturn

This is a book about a vision that has been fulfilled in 2020. ‘Will you visit me during the Economic Downturn?’ was written in 2016 by Rev Leong upon God’s prompting. It talks about a coming global economic downturn. The book cover shows is an illustration of the extraordinary times. There is the earth in the cover picture. It represents all the nations of the world,which will be ravaged by the severe economic downturn. A 3-year-old boy standing without his parents illustrates the fact that his parents were infected and died in the pandemic. He is all alone by himself. All industries are badly hit and the business of the rich suffers. They can only cast a blank stare upon the clouds, hoping that they will be blinded by the clouds. They are only concerned about themselves and their business. They are not in the mood to care for others, the outsiders and the miserable children of others. The many vague high-rise buildings in the picture represent a bleak prospect. Some businesses are closed down, including big hotels, old signature restaurants, famous western restaurants and some factories. Big and small companies retrench staff, and riots are frequent. Churches are closed and only a few members continue to give offerings. Many pastors live by faith with their families. In Chinese, the word ‘您' (‘心 ‘ (heart) under ‘你 ‘ (you) ) is a polite way to address the elderly. They have some savings, gold chains, valuables or property. They work hard but they care about their families and children. They bring their valuables to the pawnshop. Many local middle-aged and migrant workers have lost their jobs. They are in a panic about the future. The young people are jobless but they glue to their mobile phones. They don’t have strong bonding with their family.

This report is the Committee's second inquiry in the effect of the economic downturn on the people of the region. The Committee's terms of reference are: what problems exist and how their effect can be minimised in advance of an economic upturn; how effectively Government agencies and other regional bodies are addressing these problems; and what advice and assistance people need to help them live more sustainable lifestyles in the future. The Committee was particularly interested in the level of indebtedness and home repossessions; availability of appropriate training; the adequacy of assistance and social cohesion. The Committee is concerned that some of those areas most in need of additional Government assistance may not be aware of new funding available and do not have the capacity to bid for it. They understand that the Taskforce should not be seen as the answer to every problem in the region and that it was set up to focus on the initial economic impact of the downturn. However the Taskforce has reach within the region and uninhibited connection to Whitehall. It is also recognised that the region's third sector has not been as fully engaged as they had hoped.

The committee supports the principle of devolving to the Northern Ireland Executive the decision over whether or not to amend the rate of corporation tax, and believes this would assist the indigenous private sector to expand, innovate and employ more staff. The report uses 12.5% as a benchmark for the lower rate of corporation tax, but suggests that on the basis that the decision is devolved to the Northern Ireland executive it may, in due course, choose a lower rate. To maximise the benefits of a lower rate, though, continued progress needs to be made on other economic development policy mechanisms, including planning, education, and incentives for research and development and exporting. Low corporation tax is not a panacea for all Northern Ireland's economic ills, warns the committee, and there are considerable implementation issues: direct comparisons with the Republic of Ireland and its experience with 12.5% are difficult because the UK and Irish tax systems are different; and the UK Government would have to satisfy the criteria laid down in the Azores judgment for the tax reduction to satisfy EU rules on state aids. The committee was surprised to discover HM Treasury do not know how much corporation tax is raised in Northern Ireland. It is important that the Northern Ireland Executive has as much information as possible before deciding if, and how, it wishes to lower the rate, and at least a better idea of the amount of financial risk they are taking on. Furthermore, the benefits of lowering corporation tax must not be outweighed by the costs to businesses and HMRC.

Aid under Pressure : Support for development assistance in a global economic downturn, fourth report of session 2008-09, Vol. 2: Oral and written Evidence

There are several reasons why it has become important to rethink economic policy. Out of the European perspective it is the new currency, the enlargement towards Central and Eastern European countries, the sluggish growth and the end of productivity convergence towards the USA and the insufficient creation of employment. From the transatlantic perspective increasing differences in the economic policy and the potential rise of conflicts between Europe and the USA, for example, in trade, competition and health issues are important. The current volume touches most, but not all of these topics. It starts with the overview by Joseph Stiglitz on policy issues. Then macroeconomics policy is discussed, followed by the problem of an ageing society and European enlargement. Differences between Europe and the USA are large in taxation and in the role of public finance. The relative competitiveness of countries as well as of Europe will be decided by investments into new technologies and progression towards the Science Based Economy. In the final section the role of economists in shaping the economic agenda and giving policy advice is discussed.

The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)