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that the model must be “free and free� i.e. free for motorists and free for local tax payers. He points out that the regions motorists have been paying road tolls for nearly 50 years while other often wealthier parts of Spain have enjoyed free motorway travel for many years. The current concession ends on 31 December 2019 and after that the AP-7 is due to be toll free for all users, which will also have an immediate impact on the often clogged N-332 and similar roads, should it go ahead.
THE Valencian Generalitat has reacted angrily to comments from Madrid which indicates that, in order for the AP-7 motorway to be toll-free from 2020, Valencia will need to absorb some of the running costs. Carlos Domingo from the Valencian Department by Simon Russell of Public Works has said
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SEVEN DAY WEEKENDER Congratulations to Cancer Care Javea and a 20th birthday celebration marking a milestone of helping conquer the effects of a dreadful disease in the Costa Blanca community. The charity raises money to help hospitals and other charities that have a direct ‘hands on’ with cancer patients and has established a proud tradition of service over two decades. Javea Town Hall rightly presented a special plaque to Cancer Care during the anniversary knees up and everyone can play their part in helping the association continue to be a success over the next 20 years by supporting its fund raising efforts or shopping at the Cancer Care charity shop and boutique in Javea Park.
The luck of the Irish held on Saturday with a well-deserved Grand Slam after securing victory over England and breaching the defences of Fortress Twickenham. It was of course on St Patrick’s Day and there was much celebrating along the coast; The Weekender even managing to adorn its pages with shamrocks and little people – naturally being a colour newspaper, it allowed green to be seen. However, Spain ran out of luck when the country’s rugby union side lost a vital world cup qualifier in Brussels, losing 1810 to Belgium and missing out on an automatic place to next year’s competition in Japan. Romania will board a plane to the Far East instead. An official complaint has been
lodged about the officials chosen to take charge of a crunch game. The Romanian referee, one Vlad Iordachescu, was joined by two fellow countrymen as assistants. World Rugby is investigating. The officials were selected by Rugby Europe but it is alleged the body ignored pleas for a change in the refereeing body given the delicacy of the encounter. The Spanish captain has apologised for ugly scenes as the ref was confronted after the final whistle, saying the image did not represent either the sport of the values of his team – but said the side was “shocked” at the nationality of the officials...after losing to six penalty kicks, he did underline: “For sure, today rugby has lost.”
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Foreigners paying in more THE amount of nonSpanish nationals paying into the social security system here increased by over 20,000 last month, the biggest February rise in a decade. Around 2 million foreigners are now in the Spanish system, about three quarters in the general scheme and the rest registered as selfemployed. 200,000 of these live and work in the Valencian Community, while Catalonia has the most at around 440,000.
by Simon Russell
Easily the biggest sector of workers comes from Romania, followed by Morocco, China and Italy. The UK is further down the list as, along with countries such as Germany and the Netherlands, a large proportion of expatriates from there are retired. Well over half of the total come from outside of the EU, particularly Latin America countries.
Jobs boost from housing project A major new housing project in the Vistahermosa area of Alicante City looks set to go ahead after several years of delays and doubts as to its future. The urbanisation of the area has now been approved which should clear the way for over 1,500 family homes to be built on the 700,000 square meter plot. There are also plans for educational centres and a health centre or similar facility. The construction work, near Avenida de Denia and Via Parque, is expected to create about 3,000 jobs, 200 initially while the plot is urbanised and the rest for the main
by Matthew Richards
construction work. The first plans to build in the area were made almost 20 years ago but various factors as well as the financial crisis have resulted
in the lengthy delays. Around 6,000 people currently live in the Vistahermosa area so the new housing, when occupied, will change the nature and population size of the barrio significantly.
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Child murder and suicide link POLICE in Getafe (Madrid) are connecting the death of a man who threw himself in front of a train last Tuesday and the bodies of two children found in a burnt out house on the same day. The tragic chain of events began when firefighters were called to what they thought was a routine house fire on Tuesday evening, triggered by a fire alarm in an apartment building. When they entered the flat where the blaze had been detected they
by Simon Russell
found the bodies of two children on a bed, a 13-year-old boy and 8-year-old girl. Although the fire was relatively small both bodies had been badly burned, meaning the mattress was probably the source of the fire. While the firemen and police were attending this incident, they received news of a 46-year-old man who had been killed by a
train, close to the house where the dead children were found. It has now been confirmed that he is the father of the two children and police are working on the theory that he killed his children and then himself. The man’s wife, the children’s mother, was not at the house at the time. She returned shortly after the fire crews arrived and, after learning what had happened, was transferred to Getafe Hospital to receive treatment for severe shock.
Deadly Winds THE strong winds across the Valencian Community claimed at least one life last week. A 30-year-old man who was cleaning windows fell from the ninth floor of an apartment building in El Perellonet in the
province of Valencia. The incident happened last Thursday and the Guardia Civil have opened an investigation, although the heavy winds on the day are thought to have caused him to fall. Coastal areas in particular
were battered last week as the weather grew milder but was accompanied by gale force mainly southerly winds. Some trees and buildings sustained damage but there have been no reports of any other loss of life or serious injury.
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NEWS BITES Pallet tragedy
A man died in l’Alcora after a pallet of tiles fell on him at a ceramic factory in the town which is located in the Castellon province of Valencia. A Basic Life Support and SAMU Emergency Ambulances were both called out but the physician attending declared the man dead at the scene. The victim was 54-years-old and it is thought that he was driving a delivery lorry, although the reason for the pallet falling are unclear at this stage; an investigation will be opened by police into the matter.
TV trouble AS part of a national operation, six people have been arrested as suspected ringleaders behind an organisation controlling illegal TV broadcasting. Arrests were made in Jaen, Barcelona and Coruna in co-ordinated raids at the weekend. It is believed that the illegal web broadcasts have brought in over €1.5 million for the gang from showing things such as sporting events without licence or permission. Various technical equipment and other hardware and software were also confiscated such as Chinese decoders, plus a large supply of cash and computers.
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Bank to blame
A Spanish banking giant has been ordered to repay a customer in the Valencian Community almost €140,000 after they processed fraudulent transfer requests from her account without permission. The cash was in the unnamed woman’s account after a property sale when Bankia received an e-mail instruction to start transferring the sum of €139.912.28 to another bank in the UK. The woman was initially unaware of the transfer request, which took place in May 2016 and her lawyers started investigations. They decided the bank should never have made the transfer -actually three separate transactions - and asked for it
to be returned, but Bankia said they needed to pursue the matter through the police. The police investigation concluded that Bankia failed to make sufficient checks before processing the transfer, including proper verification of the applicant such as formal ID, electronic signature or certificate of ownership. The bank had denied negligence, saying permission was given by phone. However this was another third party, almost certainly involved in the fraud. The court in Castellon said that this was obvious negligence on the part of the bank, especially in light of the amount being transferred. Only around €8,500 has been recovered to date by Bankia.
Drive by killing near British school IN what appears to be a targeted attack, a man was shot ten times while his car was stopped at a traffic light in Madrid city centre. The shooting happened on Monday (12 March) in broad daylight when two men on a motorcycle pulled alongside the victim’s vehicle and opened fire. The
43-year-old Colombian was killed, although his female companion exited the car and escaped injury; she required treatment for shock. The assassination happened at about 9.30am, near the British Consul and a British school where many children of consulate
staff attend. However no youngsters or other passers-by were hurt and the men seemed to be professionals; police sources say they probably intentionally targeted the man. The British Consul commented on the attack and its proximity to their building and asked that people remained calm.
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Fly-tipping facelift THE Alicante Provincial Council has approved a payment of €300,000 to help clear up areas of the province that have been subject to unauthorised dumping of rubbish. The cash is to restore the areas affected, many of which have seen complete degradation of the land where the dumping has occurred. At the same meeting a grant of €200,000 was
by Simon Russell
approved for the purchase of sports equipment across the province. This includes items such as goalposts, nets, basketball hoops, table tennis tables and outdoor gymnasiums. This portion of the grant can also be used for the purchase of defibrillators which are often located near sporting areas.
Flooding tragedy by Matthew Richards
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HE body of a Guardia Civil officer has been found days after he was swept away by floodwater while helping out in a rescue operation. Corporal Diego Diez had been helping three people who had been trapped in a car by the River de Huelva (Andalucia) when a flash flood dragged the officer away and he was dragged downstream. An immediate search and rescue operation
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was carried out but tragically last Tuesday, three days after the incident, his corpse was found about 300 metres from where he was swept away. Over 200 members of the Guardia, local police, firefighters, civil protection units and volunteers took part in the search; later a period of mourning was declared in the officer’s home town of Guillena. The people who were in the car which triggered the tragedy were all safely rescued.
Several injured in emergency stop EIGHT passengers were injured on a Valencia city bus after the driver had to do an emergency stop to avoid hitting a motorcycle. The incident happened in the Plaza San Agustin area and those hurt were thrown to the floor, suffering mainly cuts and bruises. Several of these were
by Simon Russell
grave enough for the victims to be transferred to the nearby Arnau de Vilanova Hospital for treatment, though none were seriously injured. This is the third major incident involving an EMT
bus, which operate in Valencia city centre. In December a man was badly hurt when run over at a level crossing and in September a woman was killed at a pedestrian crossing in the Nazaret area. It is not yet clear who, if anyone, is at fault in this latest incident.
Less holes in the wall ONE of the side effects of the closure of many Spanish bank branches over the last decade has been a reduction in the number of cashpoint machines across the country. In 2008 there were 62,000 of these but now there are just 51,600, although this has increased slightly from the 2015 low
of 46,000. The closure of many banks has been justified by a combination of factors, partly the financial crisis but primarily increased reliance on on-line banking. However banks have always encouraged people to use cash machines rather than go into branches and their
reduction is harder to justify. In the future it is expected that more ATM’s will be installed where there is no bank but a lot of people such as shopping centres and even garages. However it is small towns and villages that have been most affected by the closures, many now having no bank or cash machine.
Hate crime sparks outcry by Simon Russell
THE uncomfortable question of Spanish racism raised its head again last week after a black actor was attacked by a woman in a bar in Madrid, seemingly for no reason other than the colour of his skin. Elton Prince was ordering a coffee when the woman approached him and said “I don’t want black people in this place or near me.” Prince spoke calmly to her to say he was soon leaving when she hit him on the head with a glass bottle, calling him “ablack piece of s**t”. She went on to say she could do
anything she wanted, even kill him, as he was coloured and she was white. Staff and customers helped the victim and the police were called who then questioned the woman and a male companion who was with her. She is likely to be charged under hate crime laws and witnesses agree she was deliberately provoking Mr Prince into an argument, although he refused to take the bait before being attacked. There has been outrage amongst campaign groups, not least because the attacker was
allowed to go home, while the victim had to be hospitalised and required stitches to his facial wounds. Some people are asking if this would have been the case if a black person had attacked a white person in this fashion. Recently the Council of Europe criticised Spain as being one of only two countries of its 47 member not to have an official organisation to tackle racism. The only other member without such a body is San Marino, a microstate within Italy.
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Local CEO dies NEWS BITES at wheel of car Heavy smokers A man who died in his car last Thursday has been named as Enrique Velarte, chief executive of Velarte Rosquilletas, a major Valencian food production company. The vehicle Mr Velarte was driving was seen to veer off the road near Silla and, although damage to the car was minimal, he was found dead at the wheel. An autopsy will be carried out but it is suspected that the 47 year-oldbusinessman died of a heart attack, causing the crash.
He was on his way to work at the time and employees at the firm are said to be in shock at the news. Many tributes were made, including one from head of the Valencian Generalitat Ximo Puig who said that Enrique created a benchmark in the Valencian agrifood industry, both here and abroad. Mr Velarte was also a member of the Fotur Tourism Federation who said this news had dealt them a hard blow and he would be greatly missed.
THE Guardia Civil and customs officers at Valencia airport have discovered 7,138 packets of cigarettes concealed in suitcases on a flight from Lisbon. The flight had originated in the Angolan city of Luanda and three men and two women, all Angolans, have been detained in connection with the case. Authorities confirmed that the group, aged between 23 and 46, have been charged with smuggling. Airport surveillance by the Guardia Civil led to their suspicions and ultimately the seizure and arrests last week.
Bullying on the rise A seminar on bullying of children in its various forms revealed that reported incidents are on the rise in the Valencian Community. The relatively new crime of cyber bullying accounted for the majority, with 240 complaints received last year. There were also 85 complaints of classroom bullying and 98 others complaints. The Police, Legal and Social Seminar was held in Valencia City and is striving to address the problem. This includes closer working and collaboration with groups such as educational establishments, the courts and the general authorities.
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A man has been detained in Valencia after several reports of someone dressed as a clown attempting to kidnap children. The incidents all occurred over the fallas weekend when there would have been a lot of children on the streets, not always accompanied by adults. All the incidents were at the cities beach area with the first alert being when a man tried to take an eleven-year-old boy who was in a wheelchair. The youngster screamed
by Andy Mansell
and a nearby group of falleros intervened. The police arrested the man, said to be a middle aged eastern European well known to them who suffers from mental illness. He was detained overnight and released the next day, but shortly after was spotted near another group of children, this time dressed as a clown and was seen trying to get an eight year old girl to leave with him. He was chased off but
returned a few minutes later and approached another child. Again a fallas party intervened and although the child was upset his parents said they did not want to press charges as no harm had been inflicted.
However, the man is set to face charges of illegal detention relating to at least one of the incidents. Police say that he has no history of paedophilia or other abuse and his intentions are unknown at this stage.
Child rapist trial starts THE trial of a man accused of raping a five year old girl is starting this week in Alicante crown court. He has been accused
of raping the child while she was in his care in a house in Torrevieja back in 2004. The man was a family friend and said to be trusted
by the girl’s parents. The victim did not report the alleged abuse until 2013, when she was 14 years old; she claims that the man took
her to a room and forced her into having sex. The prosecution have asked for a jail sentence of 15 years if the man is found guilty.
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Whilst this will always remain a priority for me, it seems not every financial adviser thinks the same way. At Chorus, more and more clients are walking through our door each day because they’ve either lost contact with their adviser or they are not happy with the level of service they are receiving. I should at this point explain why so many advisers can
go ‘AWOL’ after they’ve invested their client’s savings or pensions. Despite it being banned now in the UK, the majority of financial advisory companies in Spain can still take hidden commissions when they recommend investment funds. This means that not only do they often have a very small choice of funds to choose from – sometimes they only have this commission agreement in place with one or two fund houses – but they are also effectively paid for as much as 10 year’s work up front. At this point the adviser simply moves on to the next prospective client, often neglecting a large client-
base that would benefit from ongoing advice. Those with financial products in Spain need to be aware that the very key to good financial advice is regular reviews of client portfolios. At Chorus we monitor every fund our clients use on a weekly basis (as we’re fully independent, this is a very broad range), and we look at every single portfolio we manage at least every month. This approach, combined with using well-known, quality institutions, and FCA regulated funds, helps our clients achieve their investment goals.
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FRIDAY 23RD MARCH 2018
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Chinese army set to invade Alicante A delegation from Alicante’s MARQ archaeological museum have arrived back from China and look to have secured an agreement for a number of the countries renowned Terracotta Armyfigures to be displayed in the city. This is pending a visit ofexperts from China in the near future to ensure that the conditions and security in the museum are suitable for the loan.
by Simon Russell
Declared a World Heritage Site, the life size “warriors” are still being discovered in the regions of Xhaansi and Xian, and over 8,000 have been found to date. Ten figures – nine soldiers and a horse – will be on display in Alicante along with a number of other pieces from the region. This will be the largest such display in Spain, although
figures have previously been loaned to museums in Madrid, Barcelona and Valencia. The Terracotta Army dates back to around 200BC and were thought to have been made to be buried with Emperor Qin Huang and guard him in the afterlife. Despite the huge number of artefacts they lay undiscovered until 1974; as well as figurines of soldiers there are also horses, chariots and even circus performers.
Fighting to keep her children A Spanish woman who made headlines around the world after giving birth to twins at the age of 64 has said she will not allow the authorities to keep her children from her. In a lesser reported incident, the children of Mauricia I. were taken into care when they were two months old after she had breached some of the conditions of their care. These
included hiring a professional carer and regular attendance of a family support centre. Social Services in Burgos, where she lives and the twins were born after IVF treatment in the US, are set to review the case this month. The courts may well rule that they should be taken into foster care although they have been wards of the state up to this
point. However the child’s mother has pledged to fight to have them returned to her. It has also been revealed that Mauricia had given birth to a daughter when she was aged 58, also after a course of IVF treatment. This child was removed from her care at three years old due to neglect, and now lives in Canada with relatives.
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OVER TWO HUNDRED CENTENARIANS HOLD A DRIVING LICENCE IN THE UK The number of people aged more than 100 who drive on the UKs’ roads has increased by almost twothirds in the last five years, despite mounting concerns over their road safety. New figures from the DVLA, acquired by The Times, reveal that a staggering 264 people aged 100 and over held a valid licence at the end of 2017 – a rise of 63 percent since 2012. Specifically, the figures also revealed that at least four people aged 106 were legally permitted to drive, although the oldest driver was recorded in 2015 – when a 108-yearold man held a licence. For the first time ever, the number of over-70s holding a licence has reached five million. All drivers who reach 70 are permitted to declare their fitness every three years, but they are not required to undergo an extensive examination. The new figures come amid fears that elderly people are hitting the road when they are not fit to do so. Last year, the General Medical Council claimed that GPs could potentially report patients who are unfit to drive without telling them. Critics also say that older
drivers are likely to experience slower reaction times, meaning a diminished performance when making particular manoeuvres including turning across roads without the use of traffic lights. Steve Gooding, director of the RAC Foundation, told The Times: ‘Calls are routinely made for more testing of older drivers, but most tend to have very good safety records and recognise their own limitations. However, with this huge demographic shift there will be challenges to maintaining safe mobility for all of us. ‘Even where people are encouraged to hang up the keys for good in the interests of road safety, we must recognise the social and health problems that come with isolation.’
Back In TV PRESENTER ANT MCPARTLIN CHARGED WITH DRINK-DRIVING
TV presenter Ant McPartlin has been charged with drink-driving following his arrest on Sunday, and will appear in court next month. A statement from the Metropolitan Police said: “A man has been charged following a road traffic collision in Lower Richmond Road, SW14 that occurred on Sunday, 18 March. “Anthony McPartlin, 42, of Chiswick has been charged by postal requisition on Wednesday, 21 March with drink driving. “He will appear at Wimbledon Magistrates’ Court on 4 April.”
The TV star was pictured leaving his rented house in Chiswick with his manager and a driver on Wednesday afternoon. His TV presenting partner Declan Donnelly will host their programme Saturday Night Takeaway without him, ITV has confirmed. An ITV spokesman said on Wednesday: “We can confirm that Saturday Night Takeaway, presented by Declan Donnelly, will return to ITV on March 31, and the series finale will be taking place at Universal Orlando Resort in Florida a week later.” Donnelly wrote in a statement on the duo’s official Twitter page: “Whilst I never thought I’d be in this position, after much discussion and careful consideration we’ve decided that the remaining two shows of this series of Saturday Night Takeaway will go ahead.” “We made a promise to take hundreds of deserving winners to Florida to watch the series finale, and we will honour that. “Everyone at ITV and the Takeaway team feels we owe it to the audience to complete the series.” An ITV spokesman said on Monday they were “reviewing options” for the remaining two episodes of the series, which will now air as scheduled but without McPartlin.
Britain WHAT A PLONKER! - DRIVER FOUND WITH FAKE DEL BOY LICENCE A driver has been reported for having no licence or insurance after police found a fake driving licence which said he was Del Boy. The Norfolk and Suffolk police dogs team pulled the driver over at the A47 near Terrington this evening. They dealt with the driver for not having licence or insurance, and afterwards found the licence in the car. Registered to a Mr Del Trotter, the fake stated they were only
licensed to drive a three wheeler, when they were clearly driving a Renault Megane. The car has now been seized by police, who added the licence “wasn’t produced in an attempt to deceive”. After the stop police tweeted: everybody, “#BonnetDeDouche not even this #Plonkersfake driving licence could stop their car being seized. “Driver reported No DL & No Ins #A47 Terrington.
FRIDAY 23RD MARCH 2018
THE THIRD ROYAL BABY ALREADY HAS IT’S OWN OFFICIAL WEBSITE
We’ve all been waiting with bated breath for Prince William and Kate Middleton’s third baby to arrive and it seems Kensington Palace are the same. The palace has created a special website just for the baby, where the new arrival’s birth will reportedly be announced. The www.royal.uk/baby site shows an image of a beaming Prince William and Kate Middleton as the main picture, underneath the header: ‘The Ducke and Duchess of Cambridge’s third baby. The site then goes on to say that the creator of the page will post updates as soon as they become available. Kate and Wills announced in a flurry of excitement in October that they would be welcoming another bub into the fold. The loved-up couple, who married in 2011 in a lavish Westminster Abbey wedding, are already parents to fouryear-old Prince George and two-year-old Princess Charlotte. The gender of the new baby hasn’t yet been revealed, however it’s been speculated for months now that the Duchess may be expecting a little girl. According to some, the 36-year-old’s bump is very similar to how it was during one of her previous pregnancies.
The Daily Mail pointed out that Kate’s bump, which has been on display at numerous royal events in the past few months, is high and wide, meaning it’s more likely to be a girl. It may be an old wives’ tale, but they do actually point out how similar Kate’s bump is to when she was pregnant with Princess Charlotte in 2015 and how different it is to when she was carrying Prince George back in 2013. It’s also been claimed that Kate is actually “worried” her older kids will be jealous of the twins’ arrival “especially Charlotte, who loves being the center of attention”. “But K a t e knows t h a t sibling rivalry is part all the of process of g r ow i n g up,” the insider said.
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HANDSHAKES across the Brexit negotiating table this week hinted at a “smooth crossing” for an “orderly withdrawal” for the UK as it quits the European Union – but there are already storm warnings being posted. Brexit Secretary David Davis and the EU’s top negotiator were all smiles as they faced the cameras and said a “large part” of the transition was agreed; Britain likes to call it the “implementation period”. It was heralded as a “decisive step” forwards as the two sides announced a 21-month agreement from Brexit, scheduled for 29th March next year, until 31st December 2020. Seen as a baited hook to net trade and industry support and avoid a cliff edge exit, the agreement to the transition appeared to land its intended fish...and then thoroughly annoyed the British fishing industry. Such was the fallout from backbenches in the Tory party – those MPs from coastal regions and especially those north of the border – signs reading ‘gone fishing’ could easily be misread as ‘gone fission’. It also saw a trawler sail up the Thames in a Brexit deal protest and the hearty peeps on board hurled dead fish into the river in a symbolic gesture to show they were very unhappy that March 2019 did not immediately
Pensioners in poverty NEW data from the Ministry of Finance shows that over a third of pensioners in the Valencian Community have an income that places them below the poverty line. 34.3% of pensioners receive benefits of less than €8,000 per annum, the sum at which the poverty
by Simon Russell
line is drawn. There is also a noticeable gender gap, with 61% of Valencian women receiving less than €8,000, while the average female over 65 receives 49% less than their male counterpart. These figures come as
the elderly have taken to the streets across Spain in protest at what they see as a constantly dwindling state pension in real terms. An estimated 3,500 protested in Alicante City and three times that in Castellon while a protest in Valencia is expected to have a significant turnout.
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wrestle back control of British waters. With a government propped up by the DUP in Northern Ireland, Prime Minister Theresa May is in danger of entering shark infested waters and rebellion from her own back benches. Michael Gove tried to pour some oil on the churning sea; he said he was “disappointed” but urged everyone to keep calm and carry on and remember to keep their “eyes on the prize” of getting full control of UK waters back. On board the good ship fishing industry was former UKIP leader Nigel Farage. He maintained the Conservative government did not have the “guts” to stand up to the EU. “They told us they would take back control in 2019; that is not happening. We are now told at the start of 2021 it may happen,” he said. “I don’t think this government has the guts or the strength to stand up and take back our territorial waters.” Mrs May has met with MPs who represent coastal communities and with fishing ports in their constituencies is a bid to explain the approach.
Rural roads to be upgraded THE Ministry of Agriculture has set aside over €5 million for the renovation and reconstruction of small rural roads in the Valencian Community. The money is only available to roads that are under municipal ownership and local town halls need to apply for the
grant on an individual basis. Any roads that received a similar grant in 2017 will not be considered. Last year around 300 such applications were made but only 30 were agreed, mainly due to a limited budget. This year the budget is three times larger meaning some
longstanding repairs and improvements could finally take place. Many of the roads affected are “camis” that are primarily for agricultural use and vital to the network of smallholders and larger scale farmers that are scattered around the Community.
15
FRIDAY 7TH DEC 2017
SAVER RATES STILL NOT LIKELY TO KEEP PACE WITH INFLATION
By Richard Samuels, DipPFS BLACKTOWER Financial Management
In the UK, the base rate is the interest rate set by the Bank of England (BoE) for lending to other banks. It is used as the benchmark for interest rates generally, including those available to savers from Banks and Building Societies. The BoE has held the current rate at 0.5%. Working from the BoE’s comments earlier this year, I think there may be a rise in the Bank’s base rate from 0.5% to 0.75% in May/June, with another one likely to be expected to follow in the Autumn. However, the overall predicted outlook for 2018 seems fairly split
in terms of opinion. When the Financial Times annually surveyed economists, almost a fifth predicted there would be no more increase in the UK interest rates – two fifths suspect it will rise by at least 0.5 percentage points. Of course, with the possibility of significant “wins” and “losses” depending on where you stand financially or what you plan to do. The winners could include 45 million savers, who have already seen interest rates begin to pick up after the previous rise in November. Even those planning on buying an annuity to finance their retirement are also likely to benefit, but at least four million households with variable or tracker rate mortgages are likely to see their payments increase once again – which is not unfamiliar with past trends. Since the beginning of the Banking Crisis ten years ago – interest rates in the UK have dropped from 5.75% in July 2007 to the record low of 0.25% in August 2016. During
the 1980’s and 90’s the base rate was regularly into double figures. During Margaret Thatcher’s administration, mainly down to the government’s decision to target and control inflation, interest rates never fell below around 7.4% and peaked at close to 15%. Times have changed since then, as interest rates have not been above 6% since the turn of the millennium. As for the EU, its monetary policy meeting was held on 8 March, with the European Central Bank (ECB) deciding to keep interest rates unchanged, a decision widely expected by market analysts. The main refinancing rate remains at 0.00%, and the marginal lending rate and deposit facility rate at 0.25% and minus 0.40%, respectively. As mentioned previously, positive saving rates should begin to rise in anticipation of any rise in May. However, after last November’s rate increase, banks were slow to pass it on, or they typically passed on a fraction of the full increase to
savers. According to the Bank of England, returns on cash Individual Savings Accounts (ISAs) actually fell last December - but savers could expect returns of 1.47% this coming October. Another hopeful note is that competition for savers’ deposits may increase in the months ahead, which would have a seriously beneficial effect on saving rates. With inflation in the UK rising, it is unlikely savers will gain in “real terms” from fixed rate savings accounts. Because of this more investors are turning to insurancebased products which use Mutual Funds to achieve inflation beating returns. Using a Stocks and Shares ISA would be a good way to achieve tax efficient returns in the UK. Unfortunately, Expat residents in Spain are not allowed to open new ISA’s or add to existing ones as Non-UK tax residents. The good news is, Expat investors can take advantage of a similar wrapper
Blacktower Financial Management Ltd is authorised and regulated in the UK by the Financial Conduct Authority and is registered with both the DGS and CNMV. Blacktower
known as a Spanish Compliant Bond. With a Spanish Compliant Bond funds are held in Sterling or Euros outside of Spain. As with an ISA they offer tax-free growth, and tax efficient withdrawals whereby you are only taxed on the profit element of any withdrawal. Simply put, you can achieve better returns by taking advantage of a bond to invest your money in mutual funds for the medium to long term – which is likely to get better returns in comparison to saver rates from the banks. If you would like more information on the above or if you would like advice on any of the issues you can contact me on 692 352 156 or email richard.samuels@blacktowerfm. com. The above information was correct at the time of preparation and does not constitute investment advice and you should seek advice from a professional adviser before embarking on any financial planning activity.
Financial Management (Int) Ltd is licensed in Gibraltar by the Financial services Commission (FSC) and is registered with both the DGS and CNMV in Spain.
16
FRIDAY 23RD MARCH 2018
“Kidnap” victim had been partying A woman has been charged after prompting a major police search for her kidnappers when in fact she had been at an extended party. The 23-year-old from Calpe went to work in Villajoyosa as normal but did not return that evening. Her husband could not contact her via her phone or workplace, and the next morning he reported her as missing to the Guardia Civil. They started a search, questioning friends, neighbours and relatives, none of who knew anything. The next day, 48 hours after her disappearance the
young woman appeared at the Benissa Guardia Civil saying she had been kidnapped. She alleged she was waiting for a bus after work when three men stopped and bundled her into their vehicle. She was then driven to a rural property where her purse was taken and she was drugged. She then alleged that the next day the men put her back in her car and dropped her off where she made her own way to Benissa. She was taken to hospital for tests, none of which showed any signs of sexual assault or drugs
in her system. When the Guardia started making enquiries in the area where she said she had been taken, witnesses said they had seen her leave voluntarily with friends. After her story began to unravel she admitted she had been at a party for the two days she was supposedly kidnaped and invented the tale to appease her husband. However ten officers had been working for nine days on her “kidnapping”; she has been charged with wasting police time and simulating a crime, something which could carry a sentence of up to two years in jail.
cardiovascular workouts called “health breaks”. These cut down on muscular pains that are the biggest single reason for absenteeism and can lead to serious conditions later in life or even disability. The workouts focus on the neck, back and lumbar
regions, common points of pain for people with more sedentary work, an increasing percentage of the workforce these days. No special clothing or preparation is required and the activities are run by professional trainers, from the university sports
Healthy in body and mind A
N Alicante university is pioneering an exercise regime for its staff, something which is already having a positive impact on sickness and absenteeism. The Miguel Hernandez University in Elche schedules two weekly fifteen minute
department. Other benefits noted include improved productivity, better mental health and less workplace fatigue. The programme is producing good enough results to see it shortly being rolled out to other institutions across Spain.
by Simon Russell
Wet and windy end to Fallas WITH unfortunate timing gale force winds and heavy rain hit much of the Costa Blanca just a few hours before the annual burning of the fallas statues in towns and cities across the region. In Valencia City five statues were knocked over by the wind, although thankfully no-one was hurt. The most spectacular
victim was the prize winning oriental depiction at Sagunto which organisers admitted had been a “delicate construction”. Falleros salvaged what they could and piled it together for the final burning with an intact geisha and dragon placed in the centre. Wet and windy scenes were replicated across the
region, with fire crews on close standby with the danger of the wind spreading the flames being uppermost in their minds. However no serious incidents were reported though there were delays in many towns including Gandia and Denia as well as Valencia, mainly due to the weather.
FRIDAY 23RD MARCH 2018
Go straight to Alicante T
H R E E municipalities from the Alicante province will feature in the new Spanish version of Monopoly, manufacturers Hasbro have announced. After a popular public vote, Elda, Alicante City and Elche will now make up three of the 22 locations for sale in the timeless board game. Surprisingly, the smallest
by Simon Russell
of the nominees, Elda, received the most votes with around 260,000 while Elche received 130,000 and the provincial capital 117,000. The only other Valencian town to make the final cut was Paterna in the Valencian province. Many smaller communities received a groundswell of support
from around Spain with Pedroso and Arevalillo both receiving more than five million votes – despite having less than 200 inhabitants each. Hasbro have said that the new game will be on the shelves in time for Christmas this year – and admit that the publicity generated by the vote won’t do any harm to sales prospects.
17
Fake football gear
A 27-year-old Irishman has been arrested and charged with conspiracy to sell fake football shirts and other items over the internet. He was carrying out the operation from Torrevieja after he purchased €3,000 worth of shirts that resembled the official kit of Spanish La Liga and English Premiership
by Matthew Richards
sides. However a police investigation gave them reason to think that they were fakes, and they intercepted the shipment from China at Alicante airport. Experts confirmed that they were counterfeit, although extremely good
quality ones and in fact only slight differences in the badges identified them as copies. If sold the items would have netted the suspect around €75,000 in profit, said a police spokesman. The shirts would have been sold to customers in Spain, the UK and Ireland when the website was set up.
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FRIDAY 23RD MARCH 2018
Motoring
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Nissan Qashqai (2014–) The Nissan Qashqai is the UK’s best-selling crossover and it isn’t difficult to understand the unwavering popularity. Developed and built in Britain, the Qashqai is smooth and easy to drive, while its refined suspension and frugal engines make it an appealing family choice, with claimed economy peaking at 74.3mpg and 99g/km of CO2 for the excellent 1.5 dCi 110 engine. All versions of the Nissan Qashqai are well-equipped as standard, which means you don’t have to raid the options list to get the most out of it. However, while the Qashqai can be considered the forefather of the crossover boom, it no longer enjoys the status as the outright best. Both the SEAT Ateca and Renault Kadjar edge
ahead when it comes to value and and only those who live in rural practicality. areas or tow caravans will want to sacrifice fuel economy for fourAt launch, there was a range wheel drive. of three engines to choose from the 1.5 dCi diesel, which is only As with any family crossover, available as a front-wheel drive technology and safety play a manual, but delivers an efficient big part in the Qashqai and top 99g/km CO2 from 110PS. The spec models get traffic sign 1.6 dCi, which boasts 20PS recognition, motorway lane more and the option of a CVT departure warning and blind spot automatic transmission and system that will alert the driver four-wheel drive plus a 1.2-litre if a passing car is hidden from DIG-T petrol with 115PS. In the mirrors. There is also a front 2015 a 163PS 1.6 DIG-T petrol collision avoidance system that was added to the range. scans the road ahead by using a built-in radar system to stop Regardless of which set-up the car if it detects a potential you choose, the Qashqai is seldom collision. sharp or engaging to drive. The steering feels numb and the In 2017, Nissan gave the pedals are decidedly lacking in Qashqai a comprehensive feedback. That said, few will ever facelift and added autonomous buy a Qashqai for performance safety tech to the mix. The most
impressive piece of kit is the optional ProPilot system, which provides semi-autonomous driving with it taking control of the accelerator, brakes and lane guidance on the motorway. The driver still has to keep their hands on the steering wheel, but ProPilot will effectively drive the car under guidance. It will also automatically navigate congestion, when specified with Traffic Jam assist.
While accomplished and attractive – especially when you factor in Nissan’s affordable range of PCP deals – the Qashqai does have a few blots on its report card, with leg room and boot space being the chief areas of disappointment. As a result it can feel somewhat cramped when filled with luggage and four adults.
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22
FRIDAY 23RD MARCH 2018
Sport
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Home draw WHILE the talk was of a possible “El Classico” emerging from the Champions League quarter final, another classic rivalry made the headlines instead as Liverpool and Manchester City were drawn together. Although the rivalry between the north-western clubs is not quite as intense as Liverpool and Manchester’s other team, who failed to progress past the last 16, many fans and neutrals will still see
this game as the pick of the draw. On paper, City will be favourites with their unstoppable league form putting them 21 points ahead of their opponents. However Jurgen Klopp has built an exciting and tough to beat Liverpool team who will fancy their chances against a side which has gone off the boil slightly in recent weeks. Spanish powerhouses Barcelona and Real Madrid
will play Roma and Juventus respectively while the third Spanish team still in, surprise package Sevilla, face Bayern Munich. All first leg games are played over the 3-4 April with the return legs on 10-11 April. Barcelona are favourites to win the cup, helped by a relatively generous draw here, while most bookies have Manchester City as second favourites - although they have never won this event in any of its incarnations.
Bale sets record in Giggs first match as manager
The Ryan Giggs era with Wales began with a bang as Gareth Bale broke Ian Rush’s all-time scoring record in a 6-0 win over China in the China Cup. The Real Madrid star scored a hat-trick to take his tally for his country to a record-breaking 29 goals while Sam Vokes got two and Liverpool youngster Harry Wilson netted on his full-debut. China, who are ranked 65 in the world and coached by Italian legend Marcelo Lippi, were no match for a ruthless Welsh side under their new boss. The victory sends Wales through to the fourteam friendly tournament final, where they will meet either Uruguay
or Czech Republic on Monday. Giggs admitted nerves had meant he had struggled to sleep before his debut in the dugout. He was given the perfect nerve-settler inside three minutes as Bale opened the scoring. Despite an exhausting 16-hour journey from London, Bale looked fresh and terrorised the Chinese backline with a surging run in behind before sliding a clever effort into the top corner. Bale drew level with Rush’s record on 21 minutes when Vokes bravely prodded a ball through for Bale to chase. He accelerated away from his marker before sliding a low effort into the net. Vokes got in the act
seven minutes before the break, cleverly flicking an Andy King cross into the far corner before Wilson - on his 21st birthday curled home a tasty finish just before the break. China improved - albeit only slightly - after the break but their defensive lapses continued to cost them as Wilson played in Vokes on 58 minutes and the Burnley man grabbed his second. Bale remained on the pitch past 60 minutes as it was clear he was keen to bypass Rush in the goal standings. His record-breaking moment came on 62 minutes when he breezed in behind a static Chinese defence and slotted home low into the corner.
FRIDAY 23RD MARCH 2018
23
Sport
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Rugby stars back petition to replay Belgium-Spain game Marco Tauleigne, Jacques Burger and Nico Sánchez have joined Clive Woodward in calling for a replay. A change.org petition has collected 10,000 signatures Two days after the controversial game between Belgium and Spain in Brussels that saw the latter miss out on automatic spot in the 2019 Rugby World Cup, the fall-out continues. World Rubgy has said it will open an investigation into the game, which Belgium won to hand Romania the final European direct qualifying spot, after the Spanish Rugby Federation complained about the performance of referee Vlad Iordachescu and his assistants, all of whom are Romanian. On Tuesday England’s 2003 World Cup-winning coach Clive Woordward called for the game to be replayed and he was joined by figures within the game including France internationals Baptiste Serin and Jefferson Poirot and Argentina fly-half Nico Sánchez. Spai has received the most backing from France, where the hashtag #JusticeForSpainRugby has been doing the rounds on the internet. Sánchez also posted on social media: “Spain didn’t lose, rugby did. Seriously, three Romanian officials?” The social justice website change.org has even launched a petition in support of the Spain side after their 18-10 defeat, calling on World Rugby to “show an example in the world of sport and display it with action because rugby is different.” In just a few hours the petition had garnered 10,000 signatures.
Zlatan Ibrahimovic set to leave Man Utd and sign with LA Galaxy Swedish star and Manchester United striker Zlatan Ibrahimovic has officially signed a two-year deal with the LA Galaxy of Major League Soccer, according to Sports Illustrated’s Grant Wahl. The news comes as no surprise, as Ibrahimovic has long been linked with a move to the United States after a difficult season at Manchester United. He suffered serious meniscus and cruciate ligament damage last April, and has only made seven appearances — scoring just once — since returning. The 36-year-old is firmly in the twilight of his career, having retired from the
Swedish national team after 116 caps and 62 goals for his country. Still, Ibrahimovic would represent a major coup for the MLS brand as he is one of the game’s most decorated players in modern history. Having played for Ajax, Juventus, Inter Milan, FC Barcelona, AC Milan, PSG and United, the striker is the only player to have ever played in the UEFA Champions League with seven different teams and has won the top domestic league trophy in the Netherlands, Italy, Spain and France. He is one of two players — the other being Cristiano Ronaldo — to have scored in every minute of a soccer match.
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FRIDAY 23RD MARCH 2018
Your Weekend Starts Here!
Sport
THATS NOT CRICKET!
England coach Trevor Bayliss was left “embarrassed” on Thursday by his side’s collapse to 58 all out against New Zealand that left him struggling for answers. “It was a very poor effort today, it just simply wasn’t good enough,” Bayliss said at the end of one of the worst days in England Test history. It was their sixth lowest Test score and only 33 not out by No.9 batsman Craig Overton ensured they passed the world record lowest innings of 26 set by New Zealand in 1955. England had been 8-23, and the 9-27 before a final-wicket stand. At stumps the Black Caps, seemingly untroubled by the conditions in the first day-night Test in New Zealand, were firmly in command at 3-175, a lead of 117 runs with seven wickets in hand. “We’ve got the best team from England we can pick here,” Bayliss said, admitting he was “hurt” by the performance. “We’ve got to sit down and have a good chat about it. Is it a mental approach? Is it something in our preparation? “Are we good enough at working out how to actually play when we do lose one or two early wickets? “Embarrassed? Certainly, and I
probably wasn’t the only one in our change room. It’s certainly not good enough.” New Zealand only needed two bowlers, Trent Boult – who finished with a career best 6-32 – and Tim Southee, who took 4-25, in an innings that lasted just 20.4 overs.
But Bayliss said that while New Zealand performed well with the ball, he believed the problem lay with the England batters. “I thought the New Zealand bowlers bowled extremely well and we batted equally as badly,” he said.