Darling’s £40bn cut in public spending

donaldtramp

http://business.timesonline.co.uk/tol/business/economics/article6945979.ece

Alistair Darling will this week tell government departments that the money has run out and they face a three-year cash freeze on spending.
The message, the toughest to be delivered by a chancellor since the last Labour government was bailed out by the International Monetary Fund in the 1970s, will mean public sector pay freezes and big job cuts. The cash freeze in Whitehall will mean a “real” cut of nearly £40 billion in spending over three years.

The Centre for Economics and Business Research (CEBR) says Britain, which was the world’s fourth largest economy as recently as 2005, has slipped to seventh this year behind America, China, Japan, Germany, France and Italy.
By 2015, it predicts, Britain will be outside the world’s top 10, behind Russia, Brazil, India and Canada. Slow growth and a weak pound will be responsible for the slide.
“Public opinion in the UK has not yet caught up with the potential impact of this change,” said Doug McWilliams, chief executive of the CEBR....
“It means that, whether we like it or not, we are going to have to be prepared to put up with economic, political and social decisions made in other countries.” Britain would find it hard to maintain a seat at top diplomatic tables.

Thanks Broon

donaldtramp

Asked how the deficit should be reduced, respondents in the YouGov poll strongly favoured the main emphasis being on spending cuts over tax rises, by 52% to 30%.

Looks like there's a lot of folk out there who think the same as me.....

ThrowingStonesAtYou

donaldtramp wrote: »

http://business.timesonline.co.uk/tol/business/economics/article6945979.ece





Thanks Broon

Urgh, behind Italy, Russia, France and Canada (which has half our population). I wonder how many people will still be saying Brown was the best chancellor in history in 10 years time.

Graham_Devon

There are plenty of cuts they can make without hurting us all. Red tape and needless vote winning projects to start with.

Let's hope they cut those instead of cutting stuff which effects real families out there.

Wookster

Not enough.

They are going to have to be more than £40BN over 4 years...

baby_boomer

Graham_Devon wrote: »

Let's hope they cut those instead of cutting stuff which effects real families out there.

I never had you down as a naive simpleton, Graham, so I assume you're just saying that with your tongue in your cheek.

It's surely an impossibility given current employment law.

StevieJ

baby_boomer wrote: »

I never had you down as a naive simpleton, Graham, so I assume you're just saying that with your tongue in your cheek.

It's surely an impossibility given current employment law.

kabayiri

ThrowingStonesAtYou wrote: »

Urgh, behind Italy, Russia, France and Canada (which has half our population). I wonder how many people will still be saying Brown was the best chancellor in history in 10 years time.

There's a potential bitter twist to this story.

I was involved with a wealth management client, a while ago. It was jaw dropping the amount of wealth held by a relatively small percentage of the populace.

I should imagine these people are smart and money savvy. Savvy enough to use the current buffer period to make plans to shift their wealth and future home plans elsewhere should things go downhill.

This may sound very negative, but if we realise it may be a problem we can do something about it.

A major drive to get wealthy foreign people to live in London would be a good start. Making space for them by moving all the low paid/non earners out would be a help.

Every new foreign richie domiciling in London could automatically become Lord or Baroness something or other...

amcluesent

It was only North Sea oil that allowed Britain to defer by 30 years the inevitable.

The costs of WWII, plus our bouts of socialist bungling and waste, up-to and including Clown's disastrous 10 years in No.11 have left Britain up to its ears in debt.

As economic power and industrial productivity have gone East, so now we been left in the worst possible position.

Dumbed-down yoofs, £3 trillion lost by Clown, no working capital, Victorian era infrastructure in tatters, North Sea oil running out, a broken, divided society, spiralling health-care costs of the boomers, ...

Grim, grey, grinding years of austerity lie ahead. Ask your Nan what it was like in 1950s Britain. So you'll not be surprised when the lights go out, the shelves are bare, millions are idle, want, hunger and disease are common-place.

zag2me

amcluesent wrote: »

It was only North Sea oil that allowed Britain to defer by 30 years the inevitable.

The costs of WWII, plus our bouts of socialist bungling and waste, up-to and including Clown's disastrous 10 years in No.11 have left Britain up to its ears in debt.

As economic power and industrial productivity have gone East, so now we been left in the worst possible position.

Dumbed-down yoofs, £3 trillion lost by Clown, no working capital, Victorian era infrastructure in tatters, North Sea oil running out, a broken, divided society, spiralling health-care costs of the boomers, ...

Grim, grey, grinding years of austerity lie ahead. Ask your Nan what it was like in 1950s Britain. So you'll not be surprised when the lights go out, the shelves are bare, millions are idle, want, hunger and disease are common-place.

Some very good points but having travelled all over the world I can safely say we have one of the best education and health systems on the planet(however much people will criticise it), and this puts us in a great position for our future economy.

So its not all doom and gloom

nearlynew

How many times do these politicians have to lie to you, before you realise that they are lying f*cking thieves?