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Can We Tax To Spend?
By Tyler Smith

During elections lots of promises are made however do people ever consider the cost of the these promises? For instance many voters expect that at the least left leaning parties will promise universal healthcare, however how much will this cost? Well if you provide it universally with no charges at any point it could cost Lovia upwards of L$650,000,000. A number which makes most people hot under the collar. This can be reduced by allowing charging at certain points however this is understood to be an unpopular proposition with many. Then when you look at the cost of Fire Services, Waste and Water and Police could all cost L$250,000,000 together to maintain let alone improve. Add these together and you have almost a billion Lovian Dollars that have to be spent to meet some basic standards.
So what? some people say, we'll just have to tax to fund the spending. However you face the issue of having a lot of Lovians on low wages, so that causes issues in raising taxes as you have to turn to the rich who if they don't like what they're getting can easily move away to a more preferable location. The low taxes of the United States challenge Lovia to stay lower or face the consequences. But this doesn't mean Lovia cannot tax. The Taxation Act provides for three different methods of raising revenues for the public purse. Income, property and imported sales taxes should all form a part of a greater tax strategy to ensure that the correct revenues are raised without running the rich away or running the poor into the ground.
Income tax can be levied on the 8 billion Lovian Dollars worth of income that those earning in Lovia are getting every year. However property tax can be levied on the 9,352,000 square metres that Lovia is, although at least 6% of this is eligible for a reduced rate due to it being national parks while around 1% is eligible to be taxed as property rather than land as it is built upon. Then you come to imported sales tax, which is levied on all goods that were harvested or manufactured outside Lovia and all services that are provided by companies based outside of Lovia. Imported sales tax has the opportunity to raise large funds while not massively affecting Lovians however if too high could push away foreign business or have the cost of the tax passed onto ordinary customers. Ultimately government is expensive and therefore difficult to run, it will be interesting to see how Lovians react to the news that tax and spend won't be plain sailing after this election.

- Wednesday March 25 2015

A List of Problems
By Tyler Smith

In 2011 the average earnings in Lovia was around 40,000 Lovian Dollars. After the civil war and a return to stable governance in 2012 that rose to 41,480 and again in 2013 to 42,932. However disruption and chaos of 2014 it fell to 41,129 and then after recent studies is now as low as 37,016 Lovian Dollars. But even then this hides the issue of wealth inequality as 1% of Lovia’s employed earn over 1,200,000 a year while 31% earn fewer than 15,000 a year. Wealth inequality has gone from the richest Lovians earning 74 times as much as the poorest after the Ilava II government to 88 times as much under recent studies.
What are the causes of this? Despite wealth inequality and earnings (particularly poor earnings) rising under the two Ilava governments, the return of instability in the form of insurgency and invasion caused a reduction in property security and destroyed infrastructure, particularly in Clymene and Oceana. The number of people living in poverty stands at about 25%, suspected to be much higher in Clymene and Oceana for the reasons above stated. And while many of the rich have left the ones who remain here are afraid to invest in capital goods needed to create industries that create mass jobs and increasing incomes due to fears over instability.
In the coming election this is just the start of a list of problems that the coming government will have to solve. Some more include that the Lovian economy is now smaller than in 2011, technology industries have all but closed after the Clymeni insurgency and homelessness is on the rise. While many in the political sphere are well aware of the constitutional issues the country currently faces, almost none seem to be aware of the real impact that the insurgency and invasion has had. Any party that fails to produce proper policies to address these issues runs the risk of not only losing the election but losing the nation.

- Monday March 23 2015

The Lovian Issue
By Tyler Smith

Almost three years ago now, the Lovian civil war tore this nation apart. It drove out business and caused a political shake up unlike any other. The civil war arguably led to the destruction of the CPL.nm party and almost destroyed the Lovian economy as investors fled for safer climes, seemingly foreshadowing the end of Lovia as an rich and industrious nation. However from the ashes of the civil war rose new leaders, leaders who would reshape Lovia and claw back the wealth and claw back the confidence of the world. The first government, constructed by these new leaders in this new age was the Ilava I government, which promised to bring Lovia back from the brink. And sure enough after two years of two Ilava governments, the economy was up and investment was back. But what did they do that we can do now?
The Ilava I Government did many things, it: formalised the Ministry system; carried out judicial reform; better organised recognition of settlements; formalised weights and measures; joined Lovia to the IWO; tightened abortion regulation; reformed the federal police; created the census; made the marriage act more practical; and created honours. But what did it do to actually boost the economy? very little it would seem. Maybe the Ilava II Government made the recovery material? the Ilava II government: further reformed the marriage act; gave governors the power to extend voting rights to 16 and 17 year olds; created election regulations; created two new railway lines; made referenda possible; enacted state reform; introduced formalised taxation and budget rules; amended judicial elections; and reformed the education system. Nothing there at all about boosting the economy, in fact, they even technically introduced taxes!
So how did a recovery happen if the government didn't make it happen? Well if we compare the record of the Abrahams I Government you will have your answer. Throughout the eight months of ruling (even taking into account the rebellion and invasion) the Abrahams Government did... nothing. Of course they talked a lot, but ultimately there are no reforms, amendments or new acts attributable to them. So the answer seems to be that a successful government is an active one, and an active government is a stable one and it is that stability that brings business to Lovia to reap the rewards of a low tax, high tech economy. So Mr Hoffmann, if you are reading, take note. Your government could depend on it.

- Sunday August 31 2014

State Elections Predict Our Economic Future
By Tyler Smith

The State Elections are around the corner and we are facing multiple choices across our nation between lefts and rights, ups and downs and backs and forths. Of course it's never that simple, but being concerned with our nations economy the businesspeople of Lovia want to know what's going to happen in the fiscal, economic and investment policies of our government. And over the years they have learnt that these state elections are like a peek into the future. They give us an insight into who will be the big players in the coming federal elections. And they tell us what policies might be enacted on a state level as if any one party has a great influence over the states they are likely to be able to force their policies through.
Fiscally, business needs low taxes and workers need low taxes, spending needs to be focused on boosting education and reinvigorating a more competitive Lovian economy. The massive welfare entitlements that are currently in force mean that taxes on business and the poorest will need to be high to supplement spending. Economically, interest rates need to be low to help those in debt and to encourage investment in Lovian businesses and the budget needs to be skewed towards assisting those out of work into work. Investment wise, the government can take many routes to building up Lovia's economy especially such as encouraging foreign investment or by letting the Lovian Dollar float free of the US Dollar.
On the limited free market and free market side we have CCPL and CNP. CCPL is standing in Oceana and Kings, meaning that it would need to co-operate with another party to form a large majority over state issues, on policies it seems to support a responsible fiscal policy as well, economically it could go any way but investment wise, their internationalist approach could mean an encouragement of foreign investment. The CNP are standing a whopping three candidates, incidentally in Sylvania, Seven and Clymene, opposite to CCPL, they are fiscally interested in devolving budgets to states and having responsible budgets as well as low taxes. Economically they are undefined although like the CCPL but investment wise they are in full support of a floating Lovian Dollar which if managed properly could really help the Lovian economy.
On the regulated market side we have UL. They are aiming to reclaim their position in Lovia after a year of regulated market politicians being limited to deputy positions with the exception of Clymene. UL hasn't formulated official positions yet although we have heard a lot of talk and can make a rough guess at their positions. Fiscally their manifesto and their talking points suggest either a moderate to high tax and spend budget with an economic focus on education, health and transport. Investment policy can be estimated to be in support of low interest rates to lower debt and Abrahams, the leader of the party, has in the past looked into floating the Lovian Dollar.
The current situation is that we have two governors in favour of freer markets, Ilava and Hoffmann, and two in favour of more regulated markets, Abrahams and Krosby, and one in the middle. Thus we have had a deadlock, and as such we've had few economic bills, instead we've passed laws concerning taxes and budgets, simply outlines, not in any particular sides favour. This time round we could end up with a full line of governors with leaning towards freer markets or four pro-regulation governors and a centrist. However a reasonable guess by the LFT is that we'll end up with a similar outcome to the last give or take one pro-regulatory or freer market governor. But of course guessing doesn't matter, the outcome will be decided by a vote, and I hope that you like me will be voting when the time comes.

- Wednesday September 25 2013

Marcus Villanova Talks Clymene
By Tyler Smith

Recently Clymene, which over the past few months has been a politically quiet state, has heard a rumble in it's jungle. The banging of drums and the call to action as someone is on the march. Who is that? why it's Labour activists in great numbers, campaigning tirelessly to try and capture the state back from the SCP. Some people have been annoyed saying that it's a lot of noise they could do without but many more are open, eager to see the debate that might ensue and see if their governor can muster his own campaign and kick his party into action. We met with Labour Party leader Marcus Villanova to get his side of the story.
Smith: Hey, welcome.
Villanova: Shall we dive straight in then?
Smith: Sure, Justin Abrahams has been developing the universal healthcare in Clymene, would you continue this policy or do it differently?
Villanova: One of the best things Labour did in office, when in power there, was enact the state run healthcare program. It was entirely under state control, cheaper rates, faster waiting times. Under his control, which has been irregular, he has privatized certain aspects of it off which lead only to longer waiting times and more expensive care. If Labour gets back into power there, we would buy those parts of the industry back, higher more nurses, and make sure that our citizens have the best quality care in the nation.
Smith: I see, you'd go for a full on nationalisation of the service rather than half and half. How would you propose to fund this huge change, of course we'll imagine that we have state taxes already but where would you get the money from exactly?
Villanova: Sure, as a socialist I do feel certain industries which are directly related to the people such as banking and healthcare need to be state controlled. It was perviously under complete state control and running smoothly and enacted through different measures of cheap prescriptions to fund some of the operations. Now I feel with the growing power behind the "state council" movement I would take it upon myself to enact a state council, which Justin hasn't, give it the power to tax certain income and such and fund it entirely.
Smith: So what you're saying is you feel that it's safer and better for the people when government controls certain sectors of the economy. Moving on to the next topic, the SCP are a young party which seem to be based in Clymene and have taken away some core Labour voters. How do you feel about this new party and how will you win back those who have switched over to other parties?
Villanova: As a party leader who has seen his Party go from 25 seats just a little over a year ago to 6 I see this and understand there has to be change. We've adopted a new party platform and leadership across all five states. Apart of that is keeping a state stronghold such as Clymene in Labour's power. I think once Clymene realizes that these centrist policies, that they didn't elect, aren't helping everyday workers and citizens they will come back. We've already started campaigning there for October! We've noticed this and have already started running ads and putting pressure on Governor Abrahams to adopt a state council and other policies labour and voters seek.
Smith: What about the people who may not want Labour back because they don't feel you've changed. A local, who was Labour, now SCP, recently said to one of our reporters that he feels that Clymene needs to go in a new direction. Labour hasn't published a new manifesto in a while, can we expect something soon to pacify those who feel you're just the same old party?
Villanova: Certainly, apart of the SCP divide was that we adopted a new party platform and new leftist policies. By the time of the next state elections in Clymene we will have a fully fleshed out platform which will show the following: Our dedication to devolution, the current government has no plan for this and is depriving the people the right to democracy. We will spur new growth plans with tax breaks for green companies, even as a socialist we realize the need for business something that the current government doesn't even address at all. I hope that that citizen and now SCP hears our message through our campaigning and our new message and comes back, noticing that our new policies will help him, the middle class and all those who participate in our society.
Smith: A full new manifesto, sounds like we could be meeting in some time to talk about that too. Onto our final topic, you've begun to focus your campaigning on Clymene rather than Sylvania, obviously you're still working there too but is this a hint that you may be running to recapture the state yourself rather than continuing opposition in the south?
Villanova: Yeah, a message along our recent political tour across the nation is that I will run in Clymene. We have other members which might run in Sylvania which are equally responsible and caring for the state. We need to recapture Clymene and I think along with these state councils, just running good candidates will lead to results across the districts, its just that we need more recognition of what were doing in Clymene. I still am working hard in Sylvania trying to help the governor there who is making great reforms for the state, and look we both are trying to pass a jobs bill there for better railway transportation which we both care deeply about. Thanks.
Smith: Hopefully we'll publish that first, thank you for your time Mr Villanova. It's been a great insight talking to you. We'll cover your campaigns with our brother paper, the Lovian Times.
Villanova: Thanks.
Villanova seems confident and composed, he seems to be eager to get the early points in before campaigning even starts in the other states. This seems to be in reaction to the huge loss the Labour Party has faced, going from being the biggest party in Congress to being just outside the top five. His plan seems to aim at going into the State Elections with a new manifesto and a new candidate for Sylvania. We did some research and a Labour member known to be doing heavy work in Sylvania is Marcel Cebara, could he be the new candidate to compete for the State? Whatever happens Labour knows it needs to work hard for the coming elections.

- Sunday May 19 2013

Hoffmann Reveals State Plan
By Tyler Smith

Just yesterday the Governor of Sylvania made public his plans for Sylvania to fight off criticism from members of the Labour Party. The plan expands upon the promises the current Governor made that won him the last elections however introduces a few new ideas such as a complete revision of public services, the creation of a Sylvanian currency called the Sylvan and the devolution of policy making down to Charleston. No official reaction from other parties have been made yet and Hoffmann continues to update and flesh out the plan. It is expected that as Lukas continues to update the plan and begins to take action towards his aims that reactions will come.
The plan outlines in detail how the Welfare Voucher Scheme he has proposed will work and makes a preparation for a complete overhaul of public services in Sylvania. Some aims of the plan are: creating a Natural Gas power plant on the outskirts of Noble City that will aim to power most of Sylvania; installing a public library in every major settlement; creating a Charleston Village Council; nationalising rail in Sylvania. The plan is clearly ambitious however would need much more funding than the L$34,000,000 the Governor has available to him at the moment, in his plan he details that he hopes to get central funding for many of the projects he hopes to complete.
There is hope for the Governors plans, his party is apparently close to finishing a write up of their Taxation Act from 2012 and are reportedly optimistic about the chances of getting it passed. This act would allow States to set State level taxes to support local projects. On top of that Lukas has arranged a meeting with many important politicians and businessmen to try and secure funding for some of the projects through government bonds and straight up investment. However should Lukas fail to gain the funding from both of these sources then he could face a huge shortfall on his listed aims.

- Friday May 17 2013

A Congress Divided
By Tyler Smith

As the elections are coming to an end, no one economic ideology seems to hold the high ground. The economic liberals are going to take a predicted 29 seats and the leftists 25 and the centrists 35. This means that once again Congress will be divided on the economic route to take. CCPL may be able to gain liberal support for their idea of commissioning private companies to do jobs for the government, this could even mean that they take a lead and manage to make their centrist policy the government policy when it comes to economics. However with only 18 predicted overall seats they may not be able to have the leverage needed.
Other alternatives to CCPL economic leadership include CNP, economic liberal, and Labour, economic leftist. CNP has much approval for its large focus on trade and government support for start ups and small businesses, recently they've unveiled plans to introduce a new law book to regulate issues to do with the economy which has gained widespread support too, they are predicted 16 seats and have experience negotiating on bills they want to get passed. Labour on the other hand hasn't changed it's policy in a long time, aiming to introduce regulation on big business and to introduce heavy spending on social programs like welfare and healthcare, with a predicted 14 seats the party may not be able to truly take the lead of Congress however it will most likely continue to be influential in the year coming due to it's old age ties to other parties.
While some other parties like the SLP, GP, PL and CDP both have enough seats to consider trying to exert their own influence, they will most likely be king makers in Congress this year coming. Unless deals come between the groups it may be a year of stagnation for economic policy which could cause uncertainty in the economy. A CCPL and CNP coalition has been hinted at by Dave Leskromento and Oos Wes Ilava himself, but Marcus Villanova has tried to form plans for a majority government with the backing of the CCPL since November last year. Speculation continues as to whether anything concrete will form in the coming days up to inauguration.

- Friday January 18 2013

Stock Market:


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- Monthly

Truth Island: Poverty Increases after food supplies run to dangerously low levels as the after effect of a strike supported by the Lovian Unionist Syndicate party led to a loss of a day's work last week, locals have been quick to ask why such a strike was even suggested in times like these - Sunday November 2 2014

Oceana: Locals Organise to try and recover from the damage of the recent conflict, community leaders have organised a food transport system based in Hurbanova to ensure that produce reaches all settlements in the state, other states are beginning to copy this relief action - Saturday November 1 2014

Business: Rich Lovians doubt the capability of Congress and other Lovian institutions to maintain stability for business in Lovia, one business owner from Oceana who refused to be named stated that "it's times like these that make one long for the return of Collinia" - Friday October 31 2014

Clymene: Economists Predict that while restricting public transport would not severely hinder the state economy, should further restrictions on businesses the results could be dire, they also state that they expect to see a very slight decrease in foreign investment in the state - Sunday November 24 2013

Politics: Claimant Disregarded by business leaders who say that Philip Bradly-Lashawn, the claimant to the throne in question, has highly conservative ideas about wanting to return to a communist system whereby the Lovian economy will 'crash and burn' and have claimed that he is 'no friend of the people' - Thursday September 12 2013

Economy: Broadcast Boom continues as other companies begin to try and ride the success of Kaboom TV in the resurgent market, some believe that this is clear views that the recession is finally over and that Lovia is back on the up, others say that the recovery is happening but despite this boom slower than expected - Tuesday September 10 2013

Politics: Overbanken Offices that were built by the state government to house the headquarters of political parties wishing to compete in Oceana have been criticised after they've failed to fill after a month of being on the market, officials in Oceana say that it will take more time - Monday September 9 2013

Economy: Media Grows as a reboot of broadcasting in Lovia is spearheaded by Kaboom TV, foreign broadcasters are also looking to get in on the deal with BBN, Brunant's government owned broadcasting company, specifically ensuring the market for BBN i in Lovia - Sunday September 8 2013

Company: InterBus enjoys a rise in shares after proposals to buy out their Oceana branch are made, with investors hoping to profit from the deal, although insiders suggest that InterBus may not pay dividends to shareholders any time soon, some still remain hopeful that they will - Saturday September 7 2013

Company: Lucky Dragon Company shareholders are looking to sell off their shares after the recent period of increasing debt, several businessmen have expressed interest in taking over the company although buy offers for shares are extremely low - Friday July 5 2013

Economy: Pubs and Bars have been completely unaffected by the recession, this is thought to be due to them being centres of community in Lovia, with many leading politicians visiting their local pubs daily the phenomenon is not limited to smaller settlements - Wednesday June 19 2013

Foreign Affairs: IWO Games have been announced to begin with their opening ceremony on the 29th of June, the games are thought to bring business to the various competing nations, a good performance from Lovia could mean potential investment - Tuesday June 18 2013

Foreign Affairs: Brunanter Government invests in the new campaign designed to get Lovians to go to Brunant during the coming holidays, the campaign is called Visit Brunant and highlights tourist hotspots within the country such as the Middleton Rocks - Monday June 17 2013

Economy: Minor Activity occurring in the Lovian Economy, suggesting that recent economic successes may not continue due to harsh conditions in the world market, economists suggest that Lovia needs to "struggle on, until balance comes" - Sunday June 16 2013

Politics: Reform and Liberal Party economic platform analysed by experts from the Lovian Financial Times, research suggests that they are still economically leftist like their related party the LP however are very slightly closer to the centre - Saturday June 15 2013

Economy: Music Leads the way back from recession, with substantial growth in the market after heavy investment, bands find that they can easily create, sell and manage their brands from inside of Lovias low bureaucracy economic system - Friday June 14 2013

Economy: Housing Market grows significantly in Novosevensk after several properties were sold for prices similar those in Kinley, this creates a new factor for the housing market in Seven as previously only Kinley managed to present such good sales - Thursday June 13 2013

Economy: Calls For Organisation and proper evaluation of the Lovian Economy are made by key politicians, including Ferenc Szóhad, Marcus Villanova and Lukas Hoffmann however William Krosby has advised that time should be taken to gather correct numbers - Wednesday May 29 2013

Politics: Sylvan Delayed after Hoffmann makes an announcement that something must done to give Congress more control over the Lovian Dollar and to make it work better as a currency, Charles Bennett is currently writing up a bill on the matter - Tuesday May 21 2013

Economy: Sport Booming and growing as part of the economy, with many important investors ensuring that the various clubs and leagues around Lovia stay afloat, with Nicholas Sheraldin of the Green Party being a driving force behind this growth - Friday May 17 2013

Politics: Funding Distribution to federal states debated as the Governor of Clymene comes to a head with the Governor and Deputy Governor of Sylvania, over whether funding should be proportional to the population - Thursday May 16 2013

Organisation: Charity Under Suspicion as it attempts to open multiple new schools with unknown funding, the Charleston Educational Trust, a spokesman for the Sylvanian State Government declared that an investigation is underway and that it's monopoly on education will be broken - Wednesday May 15 2013

Politics: Spending Increases according to government workers, as adjustments are apparently being made to the Ilava II Government's budget, increases to Defence spending are apparently being revealed - Saturday April 20 2013

Energy: Powerplant Planned to be installed in the Headlands of Sylvania, planned to be a clean coal powerplant, it may help lower energy costs although some economists feel it is politically motivated rather than economically - Thursday April 18 2013

Economy: New Competition in the Newspaper industry as a new entrepreneur, Edward Tevanian owner of the Newhaven Mercury and The Northern Telegraph, as he snatches up 3% of the total market - Thursday April 4 2013

Politics: Minimum Wage in Lovia proven to be one of the highest in the world, poverty in Lovia suggests that more than a few people may be undercutting the law for cheap labour - Friday March 29 2013

Company: Defence Minister protects Honecker Holdings security firm from accusations of being illegal, claiming that they are innocent until proven guilty - Friday March 8 2013

Logistics: Railway Expansion in Sylvania suggested by politicians could offer a financial boost for Charleston and Train Village and could lessen the economic crisis in the latter - Saturday March 2 2013

Politics: Small Budget creates worry as many feel more funding will be needed compared to prepared targets, warnings against austerity are made by economists - Wednesday February 13 2013

Economy: Uncertainty Falls as a government finally forms, however until anything happens uncertainty remains as to the friendliness of the government to business - Friday February 8 2013

Company: LoviaMarket Expansion has surprised retail market as McMarket sells stores in East Hills and Clave Rock attracting the interest of economists - Monday January 28 2013

Economy: Economic Uncertainty created in the business community as coalition talks fail, investment in the Lovian Economy drops by 0.7% in the last week alone - Friday January 25 2013

Politics: Trade Union Regulation comes under debate due to an act draft drawn up by Marcus Villanova which was heavily criticised by Lukas Hoffmann - Sunday January 20 2013

Company: Kameron Agri faces low profits, share prices drop dramatically as the company announces it has decided to cease dividends - Friday January 18 2013

Lovian Financial Times Archive

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