Thread: What the F*** is goin on in the UK

Householders who put too much rubbish in their bins face tougher punishments than shoplifters and drunken louts.

Environment Secretary Hilary Benn has backed on-the-spot fines of up to £110 for those who overfill their bins, leave them out too early, or put out extra sacks of rubbish alongside them.

The price of defying rubbish regulations is £30 higher than the £80 fixed penalty fine given to shoplifters or those involved in drunken disorder in city centres.

The confirmation that Labour has been putting pressure on town halls and their bin police comes after three years of rapid growth in the number of fines handed out to residents for 'littering' - the offence committed by those who infringe strict wheelie bin rules.

Around 20,000 tickets for breach of rubbish collection rules are thought to have been issued in 2006, the latest year for which figures have been released. Tickets usually demand fines of £100 or £110.

Legislation covering on-the-spot fines for bin offences says they should be at least £75, but lays down no upper limit.

The Government has always insisted that the upper levels of bin fines were a matter for local councils to decide, but yesterday the Environment Department confirmed that ' enforcement' guidance laid down for councils from Whitehall has set the £110 level.

A spokesman for Defra said: 'The guidance is not new. It sets fines at between £75 and £110.'

Now families who overfill bins could get a £110 fine... compared to just £80 for drunken yobs and shoplifters | Mail Online

\Country has gone to the dogs, Invaded without a single shot being fired.Drestined to become a Dimmi state to the mudslimes in the very near future. Thank god I am out of it and living here where we have PAD and people who love their country! The land of the free is no longer the USA nor the Uk nor anywhere in Europe---it is here where the people have the right to protest and a good king and total loyalty to their country . FFS I live here on a visa issued for 12 months and subject to legal and finacial checks. How I wish the Uk did the same.

Housing slide has shown just how untogether Northern Rock wasBy Richard Fletcher


Proof at last. Northern Rock's chairman Ron Sandler yesterday provided evidence to support what most had suspected: Northern Rock was always a northern wreck.

The credit crunch may have forced the bank into an early coma, but it's now clear it would never have survived a prolonged house price crash. The bank was so geared for growth that the only way it was going to stop was by hitting a brick wall.

From the moment Northern Rock released its "Together" product providing borrowers up to 125pc of the value of their property, the bank was too racy. As long as house prices climbed the risks were hidden, but now they have been revealed, Northern Rock has fallen woefully short.

Consider these statistics: Northern Rock's repossession numbers are climbing fast and 70pc of them are Together customers. The average loan-to-value on the Together book is 105pc. And Together accounts for a quarter of all Northern Rock's borrowers...../


Repossessions and arrears levels will soar later this year and next. By Northern Rock's own count, about 140,000 of its customers will be in negative equity if house prices crash another 10pc by the end of next year - a conservative measure.

Unfortunately, it's now the taxpayers' headache. Sandler may have kitchen-sinked as much as he could to kill any residual argument by former shareholders that they should be entitled to compensation, but it looks increasingly likely that the taxpayer will lose out.

Yesterday's £3bn capital injection, on a business worth just £5bn at its peak, will start to be eroded within 18 months if the bank continues haemorrhaging capital at the current rate.....

From: Housing slide has shown just how untogether Northern Rock was - Telegraph

"A black hole is a region of space in which the gravitational field is so powerful that nothing, not even light, can escape its pull after having fallen past its event horizon. The term "Black Hole" comes from the fact that, at a certain point, even electromagnetic radiation (e.g. visible light) is unable to break away from the attraction of these massive objects. This renders the hole's interior invisible or, rather, black like the appearance of space itself." wiki

Labour have always done this. Especially the nationalised industries during the 60's.

Originally Posted by bkkandrew

Brown & Co shovel more money into the Black Hole (AKA Norther Rock)

Man lay dead in bed for two years

The body of a man found in a bed at his Lancashire home is believed to have lain undiscovered for more than two years, police have said.
The body of Brian Dean, 70, was found at the terraced house in Huncoat, Accrington, by police officers when they broke the door down.
A pile of unopened post dating back two years was found behind the door.
Tests are being carried out to determine a cause of death and officers are also trying to trace relatives.
Neighbours said Mr Dean was rarely seen and was a private person.
Alarms were not raised with official authorities because bills were still being paid by direct debit from Mr Dean's bank account.
Det Insp Jill Johnston, of Lancashire police, said: "We believe Mr Dean may have been in the house for over two years because mail dated back to June 2006 was stacked up behind his door. "We know Mr Dean was a very private man and it is very sad that he had not been missed by anybody for such a long time."

Story from BBC NEWS:
BBC NEWS | UK | England | Lancashire | Man lay dead in bed for two years

Back to the bins. Here in Chiang Rai we pay 10 baht a month! There are several oil-drum sized bins at the end of our soi, emptied every day. Compare this with UK council tax and 2 week collection. I love it here in Thailand and just wish my kids would see the light and come here too. Who would want to live it that land of Gloom that used to be England?

Bullet-proof bras should be made available to female police officers, a leading police figure said, according to newspapers Saturday.

The new bras, which have recently been handed to front-line female German police officers, come with the word "police" in capital letters emblazoned around the elastic band.

Julie Nesbit, chairman of the Police Federation of England and Wales' Central Constables' Committee, called for the sports-bra style garments to be introduced in Britain.

"If it is something that is going to give women better protection, then we should see if that is something we can get hold of," she said, according to The Daily Telegraph and Daily Mail newspapers.

Germany's federal police have begun distributing the special wireless safety bras to some 3,000 female officers to prevent potentially lethal chest injuries, a spokesman said earlier this month.

It is up to individual police officers whether to wear the new cotton, polyester and elastic bras when on duty, he added.

The Daily Telegraph said that regular bullet-proof vests, while stopping the force of a gunshot, pushed the plastic and metal parts of women's bras into their flesh, causing injury.

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ChavTowns

Council staff too scared to walk streets get free bus rides home


By Stephanie Condron
Last updated at 12:21 AM on 24th August 2008



Council workers are getting free rides on a private, taxpayer-funded bus service because they are too frightened to walk the streets of their own borough to get home.

Staff in Southwark Council’s regeneration department in South London are ferried to the nearest train station every night after work to prevent them having to walk through a rough estate.

The first private hire bus pulls up at 4pm outside the council offices to take workers the half-mile to Elephant and Castle Underground station.

The half-hourly shuttle service continues – at ₤130 per trip to the taxpayer – until the last workers are dropped off at the station at around 7pm.

A total of six journeys are made each day, at a cost of ₤3,900 a week, to ensure the workers do not have to cross the notorious Aylesbury Estate and risk being mugged.

The area is part of the constituency of Labour deputy leader Harriet Harman, who caused controversy in April when she walked around nearby Peckham wearing a stab-proof vest.

Her decision to wear body armour came weeks after Home Secretary Jacqui Smith said she would not walk the streets of London at night.

Critics last night said the money spent on the shuttle buses should be spent on improving the safety of the area for its residents, who have no option but to walk or use local buses.

Eric Pickles, the Conservative local government spokesman, said: ‘One of the prime duties of any modern local authority is to make its area a place where people can walk safely and be proud to live.


'The money spent on this bus service would be better and more sensibly spent making the area safer for everyone, rather than just a few.’

The private bus service ferries staff across two of the country’s most dangerous areas, including the Camberwell and Peckham borough wards of Faraday and East Walworth, where the number of robberies is much higher than the national average.

Yet the council workers could easily catch a scheduled bus – the 343 – from their desks at Chiltern House, which is a 15-minute walk away from the Tube station, just as Southwark Council advises its residents to do.

It urges residents ‘All Aboard the 343’ in its publication Southwark Life. In a two-page spread, residents say what appeals to them about the 343, including ‘Nathan’, who says: ‘It’s a great bus route for getting across Southwark.’

The regeneration department is also home to the council’s transport group, which in 2004 laid out its long-term transport strategy for Southwark – which included encouraging people to cycle, walk and use public transport.

A Southwark Council spokesman said: ‘We implemented the service in December 2005 after a series of violent attacks on staff. Three were mugged on their way home within a four-week period and the council decided to provide a secure, safe bus service.

‘At the same time we are working overtime to make the borough a safer place to live for our residents.

Originally Posted by bkkandrew

Find your local town/city:

ChavTowns

Bedford
Date: Saturday, December 18 [at] 2112 WET
Topic: England, East Anglia

Well what can I say about Bedford. An isolated backwards shit hole of inbreds, who are all born "live" and die in the same place. Occasionally venturing to Milton Keynes if they havent blown all their benefits in one of the many market stalls this fair town offers.

I dont know what is more frustrating about chavs, if they think what they are wearing is good, or just the fact that they clearly have no self respect.

Shopping in Bedford is an interesting experience, with the biggest new look I have ever seen, next door to Peacocks, and numerous fast food outlets, thankfully causing early death to many of the scum who regularly frequent the establishments. I personally would like to thank McDonalds, for creating an environment suitable to lure in all the Chavs, and feed then what can only be described as poison, until they die/ get ill and claim more benefits.

In Bedford there is one place which Chavs prefer to generally stand around and do nothing in, it is called 'Aspects' and features, a closed down McClusky's (yet even the Chavs were too cheap to keep the place open) a tenpin bowling alley, usually used for shelter rather than actually particpating in the game, a cinema, one of the old ones, 3 screens, no surround sound, and seats which give you a 98% chance of going home with Scabies. When the chavs get hungry, there is always "Fatty Arbuckles" large glass front window for them to press their spotty noses against, and watch the "dead posh" people eating what is loosely described as food.

If all this is not enough to keep the chavs busy, they get in their off road chavmobile and slowly race around the large unused carpark for a while, before heading into the town centre, for a night "on the town"or to generally "cruise". The only good thing to come of the recent increase in petrol prices is the chavs reduced preference to "cruise" around trying to pull skanky chav-ettes.

I feel it would be wrong not to mention the car parks. If you find somewhere to park your car which you feel leaves you a good chance of keeping at least 3 of your wheels, you must then avoid the cruising chavs, and make your way out of the carpark, through the stair well/ lift. This is always a tricky decision. On one hand the lift is not home to the majority of Bedford, unlike the stairwells, but the size of the lift means that by the time Shazza, and her 8 small snotty children, her current boyfriend, and their fags are in the lift, you are left no chioce but to make physical contact with at least one member of the 'family', and inevitably be on a course of antibiotics for the next week. It is advisable to try not to breath while in the lift, although due to the fact they have not been updated since 1974, you may pass out before the lift reaches ground floor.The other option is the stair wells, I always feel I am walking into someones private home when doing this, and they tend to stare as if to say "what the fuck are you doing here without your uniform fake burberry hat, scarf and jacket!". The smell is overwhelmingly like a toilet which hasnt been flushed in 20 years, thats because it is. It is advisable not to touch the rails, walls and if possible the floor if you wish to avoid cholera.

If you have not died of some disease by the time you have stepped outside the car park, the shocking array of poundlands, superdrug and other charity bins will certainly make you question why you have risked your health to be here.

Speaking in public is not advised as any accent which doesnt make you sound like you are ripping your throat to shreds is so overwhelming that a chav cannot focus on the content anyway. and you are likely to be mugged as you have been identified as "dead posh" and not part of the collective.

What more can be said apart from, Bedford is a breeding pit for chav, to the extent that chav is the norm. However in its defence it is not responsible for the nationwide outbreak of this condition, as Bedford scum, do not appear to understand the concept of a larger world outside of this shit hole town. Thankfully they are contained.

I really can't think why I moved halfway around the world...

Beijing Olympics: Myra Hindley Visit London 2012 image condemned

London 2012 organisers are at the centre of an extraordinary row after an image of Myra Hindley, the Moors Murderer, was included in a montage of images of British achievements designed to promote the upcoming Games.




The image was part of a video montage highlighting the best of British Photo: BBC NEWS




The painting, by British artist Marcus Harvey, is made out of children's hand prints

The clip, a portrait of Hindley made out of children’s hand prints by the artist Marcus Harvey, was screened as the Prime Minister and Boris Johnson, the Mayor of London, welcomed British medal winners at a party to celebrate the capital taking over from Beijing as the official Olympic host city.

From:

Beijing Olympics: Boris Johnson and Downing St condemn Myra Hindley London 2012 image - Telegraph

Ye Gods! What were these people thinking? How can you 'promote' London 2012 with a picture of Hindley - a paedophile murderess? What can we expect next, endosements from Gary Glitter? Perhaps he will sing the National Anthem at the opening ceremony!

Man, 76, arrested as Highways Agency forces eviction to make way for road improvements


A 76-year-old man was arrested as bailiffs moved in to evict him and his wife from their home of about 35 years to make way for road improvements.

Police said they took Noel Sims into custody for seven hours yesterday "to prevent a breach of the peace" as the Highways Agency arrived to force the couple's eviction.

The pensioner was released last night without charge and friends today criticised his treatment.

But the Highways Agency today defended its decision to force the demolition of Noel and Shirley Sims' Lincolnshire house, despite their desire to stay put.

It wants to put a road junction on their land, which includes workshops and a repairs yard, to improve road safety on the A1.

But the couple reportedly refused to leave the property, in Colsterworth, near Grantham, unless they were offered more than the original offer of £300,000 in compensation - about half of what the couple believe it is worth.

An agency spokeswoman said: "It is with extreme reluctance that we have had to resort to the need for eviction in the case of Mr and Mrs Sims.

"This decision has only been made after every other avenue has been explored. It is extremely rare for the agency to evict people from their homes when acquiring land for a road scheme, but unfortunately in this instance we have no alternative.

"The agency, its contractor and the district valuer have offered extensive support to Mr and Mrs Sims."

The spokeswoman said Mr and Mrs Sims refused independent representation and offers of compensation from the agency because they felt the offers were not generous enough.

Lincolnshire Police said they were present at the eviction to make sure Highways Agency enforcement officers, the Sims family and the wider public were safe.

A force spokesman said: "Mr Sims had made repeated threats to use firearms and explosives to stay in the property. We had to take these threats seriously.

"Every effort was made to effect a peaceful eviction. Unfortunately, Mr Sims became aggressive and abusive and was arrested to prevent a breach of the peace. He was released seven hours later without charge.

"He was kept in custody for this period of time to enable the enforcement officers to clear the property and secure it."

Commenting on the alleged threats, Mr Sims' friend and former colleague David Bingham said: "There were exaggerated reports of what he said and they have not taken into consideration that you have a 76-year-old man who's under severe emotional and mental strain.

"If you were having your home compulsory purchased you would be angry. The man is 76. I spoke to him in the cells and he said 'I'm finished. All I want to do is die'."

The Sims have moved into a caravan on a plot adjacent to the earmarked land.

Speaking previously about his impending eviction, Mr Sims said: "They've got to come and grab me and put handcuffs on and take me out the door. There's no other way they can do it is there?

"They have two options, either they lock me up and throw away the key or they put me six feet under ground."

Man, 76, arrested as Highways Agency forces eviction to make way for road improvements » Communities » 24dash.com

On a recent visit to UK I went through Immigration at M/R airport only to be stopped by a guy in a suit, Oi ! he shouted come here!___ what do you want says I,?___ where have you come from ? __ my mothers Womb I replied, ___ I asked you a question !__ you got an answer then, ___ He says if you do not give me a good answer I will arrest you! ___ Why are you a copper then? next time introduce yourself and show me your Warrant Card___what were you doing in Thailand?___ went for a FCUK I replied___Plod gets angry now, I ,ll not warn you again, then he shows his "Knacker of the Yard" credentials, ARE YOU A TERRORIST? ___ FCUK me caught me out there!! how did he know? So off we went to the Duty Office, I asked the Duty Sergeant what right has he got to ask me questions, ___Reply section9 of the 2000 anti terrorist act. you are required to answer any questions as to your status/intentions, failing to do so will incur 48 hours in Jail! So I said does that include stupid questions from that idiot over there? like am I a criminal etc. what,s the point ! and behind me were a load of Paki,s returning "HOME", they have proven in recent times to be a threat to the Nation, __ In future said the copper, just answer the questions properly and you will on your way!
Glad to know England can sleep safely at night

Originally Posted by Jesus Jones

I read recently a man was arrested for putting his hands in his pockets at a bustop in the UK. The police officer, actually the special constable was being agressive verbally, so the citizen refused to comply. Backup was called, and the man was detained under the terrorism act.

Never been a fan of Tony Benn but agree with his opposition to increase laws trying to be introduced in the Uk such as Identity Cards etc, once passed the authorities esp the Police will abuse the original intent to impose their will such as the case you highlite above!

Crashed car gets a ticket

A traffic warden put a ticket on a car which had just been involved in a crash while its owner was in hospital.

Kristian Bennison, 24, was taken to hospital after his Volkswagen hit another car, reports the Daily Telegraph.

He and his mother managed to push the badly damaged car to one side of the road, where they left it so Mr Bennison could be treated for shock and minor injuries.

But when Debra Bennison returned to the car to put a note on it to explain they were waiting for a tow truck to take it away, she found it had been ticketed.

Mrs Bennison, who lives with Kristian in Bowdon, Cheshire, said: "I could not believe my eyes. It was obvious the car had been involved in a bad smash, there was glass all over the road. I'm just grateful no one was hurt.

"I will be appealing against this ticket by find it distressing and unnecessary hassle at an already stressful time."

Trafford Council's head of transportation Geoff Ball said the parking contractor would be warned to be less free with its fines.

"The car did receive a parking ticket as it was left on double yellow lines," he said.

"However, the council has discretion to cancel tickets in exceptional circumstances and this ticket was cancelled as soon as we were aware of the circumstances.

"We will be working with the parking contractor to avoid this kind of situation happening in future."




they should really get rid of these incompident employees

Originally Posted by wanderering walter

On a recent visit to UK I went through Immigration at M/R airport only to be stopped by a guy in a suit, Oi ! he shouted come here!___ what do you want says I,?___ where have you come from ? __ my mothers Womb I replied, ___ I asked you a question !__ you got an answer then, ___ He says if you do not give me a good answer I will arrest you! ___ Why are you a copper then? next time introduce yourself and show me your Warrant Card___what were you doing in Thailand?___ went for a FCUK I replied___Plod gets angry now, I ,ll not warn you again, then he shows his "Knacker of the Yard" credentials, ARE YOU A TERRORIST? ___ FCUK me caught me out there!! how did he know? So off we went to the Duty Office, I asked the Duty Sergeant what right has he got to ask me questions, ___Reply section9 of the 2000 anti terrorist act. you are required to answer any questions as to your status/intentions, failing to do so will incur 48 hours in Jail! So I said does that include stupid questions from that idiot over there? like am I a criminal etc. what,s the point ! and behind me were a load of Paki,s returning "HOME", they have proven in recent times to be a threat to the Nation, __ In future said the copper, just answer the questions properly and you will on your way! Glad to know England can sleep safely at night

If I'd been the officer I'd have locked you up for 48 hours for being a mouthy twat.

Originally Posted by jandajoy

If I'd been the officer I'd have locked you up for 48 hours for being a mouthy twat.

You would be a good candidate for the job of Airport security. no fkcing brains , hold you up to the light not a brain in sight, I should have head butted him. as i would you if I get hold of you,

Originally Posted by wanderering walter

You would be a good candidate for the job of Airport security. no fkcing brains , hold you up to the light not a brain in sight, I should have head butted him. as i would you if I get hold of you,

You don't think that your attitude to people and life in general might have something to do with the treatment and abuse you recieve?

Originally Posted by jandajoy

You don't think that your attitude to people and life in general might have something to do with the treatment and abuse you recieve?

no my friend?? , I mind my own buisness!! I do not interfere with others, what they do is up to them ,unless it,s totally anti social, just do what I do within the law, however I will respond to assholes whom I employ as a UK taxpayer in the case I illustrated, the point that you obviously missed was his total ineptness, my retorts were in my opinion justified ,because his reason and questions as to my circumstances were nonsensical!!
ps I apologise for my aggressive response ealier!

Hmmm

[QUOTE="wanderering walter"]I apologise for my aggressive response ealier![/QUOTE]

Apology accepted.

Originally Posted by wanderering walter

the point that you obviously missed was his total ineptness

Where was his "ineptness"? He wanted to stop you, you stopped.

Originally Posted by wanderering walter

his reason and questions as to my circumstances were nonsensical!!

He wanted to stop you. You were obviously of concern for some reason. That's what he's paid to do. You reacted, he responded. Who over reacted?

Previous posts testify to your habit of over reacting, often aggressively.

Have a nice life.

Not sure if Whitehaven employs the policy of some councils who pay £35 for each fine issued ,irregardless of wheather or not the fine is upheld ,would explain the zealousness. With the right patch the industrious litter policeman could be home by breakfast time,money earned.

'Thieves' stealing wheelie bins from backgardens turn out to be COUNCIL snoops searching for illegal dustbins

By Jaya Narain

Last updated at 1:45 AM on 19th September 2008



When wheelie bins began to go missing from outside their homes, residents wondered whether they should call the police.


But when the thieves were unmasked, their identities proved to be something a shock.

The two men responsible were council officers assigned to secretly snoop in back gardens.


They were employed to find out which residents were using extra 'unauthorised' wheelie bins to dispose of their rubbish – and took those bins away if they considered them to be unlawful.


Double trouble: Wardens have been sniffing out extra bins and removing them
The warden, working for Blackburn with Darwen Council in Lancashire, even used ladders to peer over garden walls on to lawns and back yards while the occupants were out.


If they saw any homes with two bins for non-recyclable waste they took one away without informing the resident.


Last night the council was forced to apologise to householders for their sinister approach.


Hazel Wilson, 67, of Blackburn, challenged two men when she spotted them in a back alley near her home.


'One was carrying a ladder and putting it up against back yard walls one by one and the other man was taking notes,' she said.

'I asked them what they were doing and they said some people had more than one black bin and where houses had more than one they were removing it.


'They had a lorry parked nearby. I thought what if an old lady was doing the washing-up and this man peered over the fence. It would give you an awful shock.

'If I was in my garden trying to catch some sun and some peeping Tom popped his head over the hedge I would call the police.'





Bin campaigner Doretta Cocks, who founded the Campaign for Weekly Waste Collections, said: 'It's just not on and I would call 999 if it happened to me.

'You have to wonder how much time and money is going into this. It's small wonder our council tax is going up every year.'

Blackburn with Darwen Council says action is needed because householders who put out too much waste cost council taxpayers £17,000 a year.

It insists its policy of one rubbish bin per household will cut landfill costs and boost recycling.


Councillor Alan Cottam, of the Conservative and Liberal Democrat coalition-led council, said: 'The council has recently been carrying out checks to see how many unauthorised bins are in the borough.


On this occasion, the officers were over-zealous and the council apologies for the upset caused.'


The move is the latest draconian rubbish collection measure.

Earlier this year the Daily Mail revealed that Tory-run Plymouth Council wants families to name somebody to be in charge of their rubbish.

That individual would then face £100 fines and a criminal record if rubbish goes in the wrong wheelie bins, or the bins are put out too soon or in the wrong place.






Daily Wail again:

http://www.dailymail.co.uk/news/arti...-dustbins.html

Just throw your excess trash in the street at night.

Keep that bin lid in spec.

The financial crisis has exposed the bankruptcy of New Labour economics

Without funding from the taxpayer, virtually no bank would be safe from the virus that has infected the global financial system

Guardian UK

For a century or more, the political left in Britain has said there will be no fundamental change until the state controls the financial sector; that, up to a point, is what happened today. Gordon Brown and Alistair Darling have done what their Labour forbears could only dream of doing: they have socialised the City.

Some may be tempted to think, judging by the total horlicks they have made of things in recent days, that the prime minister and chancellor are sleepers who have spent their lives burrowing deep into the system simply to emerge when the time is ripe with a revolutionary blueprint.

Let's be clear. Alistair Darling and Gordon Brown have taken this momentous step not out of conviction but out of dire necessity. Britain's financial system was on the point of meltdown on Tuesday night, with potentially catastrophic effects for the economy.

This is not the case, although one way of looking at the dawn announcement that the Treasury will inject £50bn into the banks and another £250bn lubricating the wholesale money markets is that the class war is over and the good guys won.

In reality, it's far too soon to say that. The government may choose to run the big high street banks so that the worst excesses of recent years - the absurd risks, the unwarranted salaries, the short-termist approach to investment - are reined in. But it may not. Today's statement signalled an intent to clamp down on the pay and bonus structures at the banks, but there was no suggestion that the Treasury would use its financial clout to influence the way institutions are run.

Some caution is justified. When the French government nationalised Crédit Lyonais, the opposite applied, with the people running the bank believing the state guarantee gave them the security to take ridiculous gambles with taxpayers' money, including buying a Hollywood film studio, with predictably disastrous results.

Everything the government has said since it was forced, reluctantly, to take over Northern Rock in February, suggests that it wants to take a back-seat role.

This, though, may be more difficult than Darling believes. The financial crisis will not be brought to an end by today's move, dramatic though it was. Despite today's half-point cut in interest rates, Britain is in the early stages of a deep and painful recession that will further sap the strength of the banks.

Indeed, it is still unclear whether the chancellor and his team fully comprehend the fin de siecle nature of what has happened over the past month. There are four big conclusions.

In ascending order of importance, the first is that the long period of economic expansion that started in September 1992 with the pound's forced departure from the European exchange rate mechanism is now over. The IMF warned today that Britain's economy will shrink next year for the first time in 18 years, with a risk that the forecast 0.1% decline in GDP will be over-optimistic. The way things look, that's a reasonable call.

The second thing that bit the dust today was the notion that the British economy could survive on finance alone. For the past 20 years, policy makers in the UK have convinced themselves that the might of the City could compensate for the country's inability to make anything. The notion that the ever-widening trade deficit was merely a temporary phase while Britain adjusted to a weightless, virtual, financially-driven future has now exposed for the grotesque fantasy it always was.

Obeisance to big capital

Thirdly, the bankruptcy of the City also represents the bankruptcy of New Labour economics, which has been based to an unhealthy degree on a desire to ape the go-getting, deal-making culture of the United States. Labour governments of the past have always had industrial strategies, which have normally been based on the idea that manufacturing matters. Since 1997, ministers have convinced themselves that Britain has a comparative advantage in financial services and that therefore industrial policy should be based on giving the City what it wants.

The light-touch regulation of financial services was but one expression of the almost total obeisance to big capital. Manufacturing industry, by contrast, was allowed to wither on the vine, even though the idea that developed Western nations can no longer compete industrially with the emerging nations of East Asia is countered by the remarkably good performance of high-cost European countries such as Germany and Sweden. Britain would be a cleaner and more prosperous country had a fraction of the effort spent on making London safe for speculators been reallocated to harnessing the nation's undoubted raw scientific talent into a thriving environmental technology industry.

Finally, the dominance of the City is now over, at least for the time being. What we have seen over the past 14 months is the humbling of the City; what the Greeks would have called nemesis following hubris. Far from using their freedom from regulation to take wise decisions that would benefit all, banks plunged into investments about which they knew little or nothing. Far from allocating capital in an efficient manner, the credit crunch that has resulted from the orgy of irresponsible lending has led to a dearth of funds for the small businesses that sorely need it.

What we have seen in the first week of October in 2008 is a broken-backed industry that promised to be at the cutting edge of the free market but in reality cannot survive without the largesse of the state. When it came to it, all the bastions of deregulation - the City, the CBI, the Conservative party - crumbled because they could see the writing on the wall. Without funding from the taxpayer, virtually no bank would be safe from the virus that has infected the global financial system.

Peter Dixon, chief UK economist at Commerzbank put it succinctly when he said the plan "represents an enormous 'volte face' from a government which has set great store by a light touch approach to financial regulation over the past decade. The political consequences will be massive. If ever an indication were needed that the Anglo Saxon capitalist model were in trouble, a government bail out to the UK banking sector provides it in spades."

Although Alistair Darling and Gordon Brown would never have wanted it this way, they now have the commanding heights of the economy in their hands. The interesting question is what they will do with this unexpected power.