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Governor Wolf Commends Passage of Bipartisan General Appropriations Bill, Commits to Finishing Budget

first_img SHARE Email Facebook Twitter Governor Wolf Commends Passage of Bipartisan General Appropriations Bill, Commits to Finishing Budget Budget News,  Press Release,  Statement Harrisburg, PA – Governor Tom Wolf released the following statement on the major bipartisan support in both the House and Senate for the compromise General Appropriations bill:“Over the past two years, Republicans and Democrats have worked together to make progress for the people of Pennsylvania.“After decades of failure, we passed pension reform that will put Pennsylvania on the path to a sustainable fiscal future, save taxpayers billions, and reduce payments to Wall Street fund managers. This budget fully funds our pension obligations. We passed the most significant liquor reform since prohibition. We set our differences aside, and made real changes for customers and taxpayers.“After years of devastating education cuts, we have restored more than $800 million in education funding. I am going to keep fighting to fix our schools, but this budget represents one of the most significant investments in schools in our lifetime. And we passed a fair funding formula, taking Pennsylvania off a shameful list of states without a way to fairly fund their schools. This budget keeps investing in schools.“Together, we’ve fought the heroin and opioid crisis that continues to plague our communities. We have developed treatment options and provided lifesaving medicine, but we know the crisis has not abated so we’re continuing to fight by making drug courts available to low level offenders so those who are struggling can get treatment.“Today, we finalized a general appropriations bill. It’s a start, and it’s not everything I wanted or everything Republicans wanted, but unlike D.C., we can compromise and get things done just like when we passed bipartisan pension reform and bipartisan liquor reform.“This budget includes much of the savings, efficiencies, and cuts I proposed in February in my budget address. But we avoided deep, indiscriminate cuts that would have endangered our ability to deliver services to the people of Pennsylvania.“This budget invests over $175 million more in our schools. Over the past two years, we’ve restored more than $800 million in cuts to schools.“This budget helps those in Pennsylvania who need help the most. It reduces the waiting list for those with intellectual disabilities; this budget makes additional investments in our efforts to fight the opioid epidemic; this budget invests in key programs to create manufacturing jobs in Pennsylvania, and allows the commonwealth to team up with businesses and institutions of higher learning to create jobs and a strong workforce.“And it builds on our efforts to make government more efficient and responsive. We consolidated IT and HR functions, and through an internal team focused on finding efficiencies and making government more effective, we have saved over $150 million and improved customer service at places like DMVs. I have rolled up my sleeves and worked with employees throughout the commonwealth to deliver change and efficiencies, and I am heartened that the legislature has joined my efforts.“But there is still work to do: We need a sustainable revenue package that gets Pennsylvania on track. For too many years, Pennsylvania has lurched from crisis to crisis. We began to address it with pension reform, and by fully funding our pension obligation, we have taken another important step. But Pennsylvania cannot get ahead if we do not take our responsibility for long term financial stability seriously. Let’s redouble our efforts, and continue to show people the progress we can make by working together.”center_img June 30, 2017last_img read more

Spanish, Italian companies weighed down by UK pension deficits

first_imgThese DB schemes had a combined deficit of £1.4bn, compared to a pension surplus of just over £620m for the same companies the previous year, Barnett Waddingham said in its survey “Exploring Southern Europe”.On average, the companies contributed £11,800 per employee to their UK pension schemes, compared with £3,800 per employee outside of the UK.The firm said this significant difference was largely due to the fall in the corporate bond yields over the period.Most of the parent companies included in the survey were leading companies within their sector and could absorb reasonably large pension costs, said Andrew Vaughan, partner at Barnett Waddingham.“However, the impact upon performance and return on investments of the UK subsidiary companies can be more pronounced,” he said.“Multinational companies should continue to focus their attention on pensions costs both at a global level and country level and consider taking action to address any imbalance that exists wherever possible,” Vaughan added. UK defined benefit (DB) schemes linked to some Spanish and Italian companies descended into deficit in 2016, according to a survey from consultancy Barnett Waddingham, as a result of the fall in corporate bond yields.The firm warned of the disproportionately large effect the development could have on the returns on investment of these UK subsidiaries for their shareholders.Even though the UK subsidiaries in the survey on average produced just 15% of their companies’ global revenue, the units accounted for an average 60% of the parent companies’ global DB liabilities and 64% of their global pension contributions.Data collected at the end of 2016 from companies listed on the Spanish IBEX and Italian FTSE MIB indices with British subsidiary companies sponsoring DB schemes showed that 12 companies had around £47.6bn (€53.9bn) of UK pension liabilities between them.last_img read more

Chelsea boss Lampard eyes £5m raid on Derby midfielder

first_imgThe teenager, who has just over two years remaining on his current contract, has played 27 times in Derby’s first team.And eight of those appearances in central midfield were when Lampard was in charge.Football Insider claim the Rams are unlikely to let their promising academy prospect leave for less than £5million.The club see Bird, who was a regular scorer and playmaker at youth level, as one of the best talents to emerge from their academy.But with the coronavirus crisis affecting the coffers of Championship sides, the Rams could be at risk of having to sell the highly-rated player.Max BirdRead Also: N’Golo Kanté on Real Madrid radar againDerby, who are currently twelfth and 20 points behind league leaders Leeds, have a slim chance of reaching the play-offs when the season resumes.But they will have to close the gap of five points on sixth-placed Preston.FacebookTwitterWhatsAppEmail分享 Bird, 19, who partners Wayne Rooney in the Rams’ midfield, is said have impressed Frank Lampard during his time in charge at Pride Park. Chelsea may have to cough up at least £5million if they want to see Max Bird swap his Derby shirt for a Blues strip.Advertisement Loading… Promoted Content6 Mysterious Things You Do Not Know About China7 Theories About The Death Of Our Universe10 Asian Actresses Of Irresistible Beauty20 Completely Unexpected Facts About ‘The Big Bang Theory’Celebrities Showing Support For George Floyd ProtestsCan Playing Too Many Video Games Hurt Your Body?Why Go Veg? 7 Reasons To Do ThisTop 10 Most Romantic Nations In The WorldCouples Who Celebrated Their Union In A Unique, Unforgettable WayThe Funniest Prankster Grandma And Her GrandsonWhat Happens When You Eat Eggs Every Single Day?A Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This Daylast_img read more