News
Further interest rates cuts to hit savers
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SAVERS face further misery as the Bank of England slashed interest rates to 0.25% yesterday (Aug 4) in an attempt to stimulate the struggling economy in the wake of the Brexit vote.
Retirees and the semi-retired reliant on savings in ‘safe’ bank and building society accounts face a double whammy as record low interest rates combine with rising inflation caused by a weakened pound.
The Bank of Scotland pre-empted this move last week when it wrote to 1.3 million business customers warning that they could start imposing charges on credit balances; effectively imposing negative interest rates.
This would follow moves by banks in Switzerland and Sweden. Even if negative interest rates are not introduced for individual savers, interest rates of practically zero will see hard-earned nest eggs shrink in real terms as the the cost of living rises.
This will be a huge blow to thrifty pensioners who did though they had done ‘the right thing’ throughout their working lives by putting money aside for retirement. The over 65s form a disproportionately high percentage of the west Wales population, and as they are forced to further tighten their belts, this will pile more pressure onto struggling local businesses in one of the most deprived areas of the UK.
Mrs Alice Hughes from Pembroke Dock, who relies on a small nest egg to top up her state pension, told the Herald: “I’ve always been careful and put money away in the building society. With interest rates the way they are now, I’m wondering whether I’d be better off keeping it under the mattress.”
Mr Ronald Edwards from Cardigan, who is due to retire in six months time said: “I’ve been looking at annuities online, and the amounts being offered are so low, I might as well cash in my pension pot and buy a classic car. At least there’s a chance of it increasing in value.”
In further moves, the Bank of England announced further printing of money to prop up the economy, and revised the growth forecast for 2017 from 2.3% to 0.8%.
With pressure on company pension pots creating difficult decisions for managers about whether to invest in wage increases or filling the pension deficit, workers in west Wales could see their already low wages stagnate for the foreseeable future.
Mark Carney, the Canadian Govener of the Bank of England said that this was a necessary step to adjust to the new reality post-Brexit, in which the economic outlook has changed.
There may be some positive news for those with savings in stocks and shares, which receive a boost when interest rates are cut.
There is more positive news for mortgage holders and home-buyers on variable interest rate mortgages, who will see a drop in their monthly payments.
As the pound continues to slide against the dollar, holidaying in the UK may become a more attractive option to families feeling the squeeze, providing a boost to the west Wales tourist industry.
How are you being affected by the record low interest rates? Email [email protected].
Community
Public reminded to stay away from Ward’s Yard and Criterion Quay
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THE PORT of Milford Haven is reminding members of the public to stay away from Ward’s Yard in Milford Haven and Criterion Quay (sometimes known as the offshore jetty) in Pembroke Dock due to concerns over public safety.
Despite significant security measures, people continue to access the sites illegally, ignoring and sometimes damaging the onsite signage and fences.
Niall Yeomans, Head of Health, Safety and Security at the Port of Milford Haven said: “Safety is our key priority. Members of the public are continuously putting themselves and members of our team at risk of serious harm by trespassing in these areas.”
“Both Ward’s Yard and Criterion Quay are unsafe for public access. They are isolated areas next to deep water and are susceptible to slips, trips and falls.”
Both sites are owned by the Port of Milford Haven and are private property. Anyone found onsite without consent is trespassing, and any criminal damage could result in prosecution.
Anyone who sees any suspicious activity at Ward’s Yard or Criterion Quay is asked to contact Dyfed Powys Police on 101 urgently.
Crime
‘Sophisticated’ organised crime gang trafficked cocaine and cannabis to Aberystwyth
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FIVE people have been found guilty or admitted to conspiring to supply cocaine and cannabis as Dyfed-Powys Police continues its efforts to dismantle organised crime gangs.
Officers seized cocaine with a street value of more than £400,000 from gang members, who continually changed tactics to avoid arrest.
Six defendants have appeared in court in the latest phase of Dyfed-Powys Police’s Operation Burleigh, which sought to disrupt the trafficking and onward supply of class A and B drugs into Aberystwyth, with all but one admitting their charges or being found guilty by a jury.
This brings the total number of people awaiting sentence under the operation to 15.
The court heard that officers from Dyfed-Powys Police’s Serious and Organised Crime Team and Ceredigion Priority Policing Team led the investigation into the OCG, which was described as ‘sophisticated, well-organised and evolving’.
Detective Sergeant Steven Jones said: “This conspiracy operated on a County Lines model, where controlled drugs are trafficked into a smaller rural town from a larger city, and the operation is controlled by one or more ‘drugs lines’.
“In this case there were a total of four lines controlling the supply of cocaine and cannabis within Aberystwyth.
“The conspirators frequently evolved their actions to frustrate the authorities and evade capture.”
The OCG embedded members were mainly asylum seekers brought to Aberystwyth by Toana Ahmad and another man who remains outstanding, with the sole purpose of dealing drugs. The drug lines were initially based in Swansea, and later in areas of Birmingham.
Three properties – on Terrace Road, Alexander Road and Parc Graig Glas – were identified early in the investigation as being used to house the OCG members embedded in Aberystwyth. Substantial amounts of cash, controlled drugs and weapons were recovered from these properties, and from the people found inside.
When arrests were made, the gang changed its tactics. Drugs began to be supplied from vehicles, and OCG members stayed in guest houses to avoid detection.
DS Jones added: “Trusted couriers were employed to transport drugs to Aberystwyth and cash back to Birmingham or Swansea. A number of vehicles, including taxis, were used as the gang attempted to avoid detection along the route, while trains were also taken when courier cars were stopped by officers.”
In June 2023, two vehicles travelling from the West Midlands towards Aberystwyth were stopped by police on consecutive days. A black sock was uncovered in the engine of the first car, which was found to contain 82g of high purity cocaine divided into 169 grip seal plastic bags.
Davinder Singh, who previously pleaded guilty to conspiracy to supply class A and class B drugs, was the driver of the second vehicle, which was a taxi. A blue plastic bag was seen falling out of his shorts, which contained over 81g of high purity cocaine divided into 167 grip seal bags.
DS Jones said: “On the basis that the amounts of cocaine transported over the 37 couriers over the course of the conspiracy period were similar, over 3kg of cocaine would have been conveyed to Aberystwyth from Birmingham.
“This equates to class A drugs with a potential street value of over £308,950. In addition to this, class A drugs were seized from individuals and addresses with a potential street value of £103,445, along with cash totalling £11,687.
“A number of teams and departments across Dyfed-Powys Police, from analysts, CCTV operators and priority policing teams, to CAB, the Technical Support Unit, Economic Crime Team and Force Intelligence Bureau all assisted in dismantling the OCG from top to bottom.
“Their dedication and relentless efforts have assisted in making Aberystwyth a safer place to live without the threat and harm of drugs being made easily available on the street.”
After a seven-week trial at Swansea Crown Court earlier this year, the following three defendants were found guilty for their parts in the conspiracy:
- Toana Ahmad, aged 33, of Lee Gardens in Smethwich, West Midlands
- Barzan Sarhan, aged 31, of no fixed address
- Ahmed Piro, aged 26, of no fixed address
The jury failed to reach a verdict on two defendants during the earlier trial. They have been subject to a retrial starting on July 1, with the following outcomes:
- Hawre Ahmed, aged 35, of Pinderfields Road, Wakefield, West Yorkshire, was found guilty by the jury of conspiracy to supply Class A and B controlled drugs.
- Diar Yousef Zeabari, aged 35, of Flat 5, 41 Bryn Road, Swansea, was found not guilty of conspiracy to supply Class A and B controlled drugs.
Karwan Karim, aged 39 of 125 Griffith John Street, Swansea, also stood trial, and pleaded guilty to conspiracy to supply Class A and B controlled drugs on day three.
In addition to the OCG members found guilty during the most recent trials, the following have previously pleaded guilty to charges of conspiracy to supply class A and class B drugs under Operation Burleigh:
- Davinder Singh, aged 36, of Huntingdon Road, West Bromwich
- Daban Khalil, aged 23, of Streetly Road, Birmingham
- Kastro Omar, aged 30, of Junction Road, Northampton
- Karwan Jabari, aged 26, of Weedon Close, Northampton
- Walid Younis Abdal, aged 34, of St Anne’s Road, Doncaster
- Saman Aziz, aged 41, of Kirk Road, Merseyside
- Adel Mustafa, aged 39, of Hubert Road, Newport
- Charlotte Roberts, aged 21, of Sutton Hill, Telford
The following have previously pleaded guilty to conspiracy to supply class A drugs:
- Akasha Smith, aged 24, of Third Avenue, Aberystwyth
- Luqman Jarjis, aged 21, of Wake Green Road, Birmingham
News
Community asked for views on allocation of new St Davids homes
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THE FIRST phase of Pembrokeshire County Council’s Glasfryn housing development in St Davids is progressing well with the second phase also underway.
The development being built by GRD Homes Ltd, began in November 2023, with a first phase completion date of Winter 2024 looking hopeful, ahead of the scheduled plans.
The first phase consists of seven properties, including a mixture of one and two bedroom bungalows
As completion draws closer the properties will be advertised via Pembrokeshire Choice Homes.
Ahead of this, the Council’s housing team will be holding community engagement on the 13th August 2024 at the Ty’r Pererin Centres, Quickwell Hill, St Davids, SA62 6PD, 5pm-7pm.
This will be a chance for officers to liaise with the local community about the allocation process for these properties.
Glasfryn’s second phase is well underway, with the initial groundwork already completed. This phase includes a further 11 two bedroom bungalows, with a completion date in late 2025.
These bungalows will meet the latest Welsh Government’s Development Quality Requirement, and will be energy efficient, built to EPC A specification and include solar panels to help tenants with running costs.
The Glasfryn development is funded in partnership with Welsh Government.
Cabinet Member for Housing Cllr Michelle Bateman said: “We are really keen to work with the community on a local lettings policy for these new properties, as we have done for our developments in other parts of the County.”
If you have any queries please email the Customer Liaison Team on [email protected], phone them on 01437 764551, or visit Housing’s Facebook page.
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