I am strongly in favour of keeping as many green areas of woodland, meadow and nature reserve as possible in our hard pressed area.
Wokingham Borough points out the following eleven areas as part of their green plans:

Keep Hatch woods, Binfield Road
Kentwood Meadows Warren House Road
Old Forest Road Meadows
Eldridge Park, Bell Foundry Lane
Keep Hatch Meadows Binfield Road
Buckhurst Meadows William Heelas Way
Langley Mead, Hyde End Road Shinfield
Mays Farm Meadows Hyde End Lane Shinfield
Five Acres Field Shinfield
Clare’s Green field Ryeish Lane
Hazebrook Meadows Arborfield

On Wednesday the Fed chairman Jerome Powell signalled that US interest rates are likely to fall at the next Fed meeting. Whilst he was able to report continuing good growth in jobs and wages, he pointed to trade uncertainties and a slowdown in the rest of the world as a reason the Fed might want to ease a bit more.

Meanwhile the Germans have just issued a government bond with no coupon, to the delight of their fans in the market who dutifully bought it. You might have thought the only reason you would want to own a government bond is to enjoy a secure income on it, yet here we have one which guarantees you no income whatsoever. Presumably the people who bought it expect a further fall in interest rates and more buyers willing to pay more for it in due course. They will need to sell it again before maturity. If you think buying a bond with a guarantee of no income return is foolish, then the only justification is to find someone more foolish to sell it on to at a profit before the reality of the no return bond is confirmed by repayment at par. There is speculation in markets that the arrival of Christine Lagarde as President of the European Central Bank will herald looser money and rates going negative.

Why have interest rates stayed so low for so long? How much longer will this apparent madness continue? The great banking crash on both sides of the Atlantic impaired the ability of commercial banks to generate cash and provide enough loans to propel good rates of economic growth. Intense global competition, large reserves of unemployed and underemployed labour and the advent of digital commerce all reinforced the trend to keep prices down. Many people responded to the ultra low rates by saving more. Japan shows this situation can persist for several decades, where a worse banking crash ushered in a long period of zero rates and no inflation. The position in the west should not last as long, given the less intense crash and the higher propensity to price rises in some places. Indeed, the USA did get its interest rates up to 2.25-2.5%, high levels for an advanced country in current conditions.

The Bank of England looks increasingly isolated and cut off from central banking trends elsewhere. The tight UK money squeeze has slowed the UK economic markedly, yet still the Bank presses on with it. If the Fed thinks the US needs more stimulus after a first quarter growing at 3.1%, surely the UK economy now scarcely growing at all needs a boost?

I participated in the debate on the Animal Cruelty (Sentencing) Bill yesterday.

Several constituents contacted me to support it. I intended to, as I have long thought we need to do more to protect animals in our care and to punish those who think cruel abuse of animals is acceptable. We were told some harrowing stories of what cruel people have done to dogs in their care, deliberately injuring them for the warped amusement of the owner.

The Bill reinforces the Animal Welfare Act of 2006 giving the courts the right to impose a prison sentence of up to one year for a summary conviction and up to five years for a conviction on indictment. The aim is to provide a stronger deterrent to those thinking of being cruel to animals, and a more appropriate punishment to those who do serious and sustained harm to an animal.

The outgoing Ambassador was right to resign. His position was undermined by the leaker, who needs to be identified. He could no longer perform his role, as the President took his criticisms personally. The next Ambassador must be capable of good analysis in private communications, expressed in moderate and professional language, and be a great advocate of the United Kingdom. He or she will need to rebuild trust and regular exchanges with the Administration after this most unfortunate rupture. We need someone who likes the USA and respects the democratic decision of US voters.

The new appointee should be expected to regain access to senior officials and the President and to reassure them that the UK respects the Administration in office and wishes to work with them, whilst of course reserving the right of a trusted friend and ally to give unpopular advice in private and to disagree in public about policy where our interests as countries diverge. The first report back home should explain the successes and aims of the White House as they set them out, and to remind us that we can learn from their economic progress. The US is growing considerably faster than the UK or the EU. It is enjoying considerable success in creating many new jobs and getting real wages up. The President’s tax cuts have made people better off, promoted more investment in the USA and helped establish more and better paid employment. The President, unlike his predecessors has kept them and us out of difficult Middle Eastern wars. More background to US achievement would be helpful and provide essential political context to the long run up to the next Presidential election, which Mr Trump is in a good position currently to win.

Of course the Ambassador should also inform London of the Democrat critique of the Presidency to provide balance. Instead of siding with the Opposition the analysis should evaluate chances or probabilities of the Democrats finding a candidate for the Presidency who might be able to win, and in the meantime assessing what the Democrats in the House of Representatives can achieve on issues where the Congress has a say.

The diplomatic memo should not be cheer leading for the President’s critics, giving a false sense of their chances of gaining control. Nor should it be propaganda for Mr Trump, whose policies should be reported and scrutinised professionally. The new UK representative needs to be proud of the UK and our decision to leave the EU, and alert to the many opportunities Brexit offers for the US relationship, not just in our minds but in the mind of the President.

I have been told by the Post Office that the Winnersh office “is temporarily closed for operational reasons”
They have not given me any more details or any indication of when they will be able to resume their service. I have urged them to restore it as soon as possible.