New Year New Massive Job Cuts

Mr.Brown_4

Have we managed to agree yet that this closure is bad and sad news? Regardless of the bigger bull or bear picture - it must be bloody desperate for those people involved. Without wanting to make any political capital I would like to see a minister down there, with a plan and some action. Preferably Mandelson or Brown, let's see what the current government can do to help.

200 billion to help the City...

HAMISH_MCTAVISH

Mr.Brown wrote: »

200 billion to help the City...

200 billion to help the country.

No banks = no other businesses.

Mr.Brown_4

HAMISH_MCTAVISH wrote: »

200 billion to help the country.

No banks = no other businesses.

Maybe. I thought the system worked on winners not losers. No banks = other banks to take their place. Surely Hamish, as a pontificator of tough love you could make an argument for not providing any help and handouts to the City at all. Not one penny.

Day 1 of crisis. Banks plead for money. Tell banks to get stuffed - after all they gambled and lost. Reduce taxation under 40k per year to zero as an immediate measure to get people solvent and spending.

Repeat until 200 billion is spent.

HAMISH_MCTAVISH

Mr.Brown wrote: »

Maybe. I thought the system worked on winners not losers. No banks = other banks to take their place. Surely Hamish, as a pontificator of tough love you could make an argument for not providing any help and handouts to the City at all. Not one penny.

Day 1 of crisis. Banks plead for money. Tell banks to get stuffed - after all they gambled and lost. Reduce taxation under 40k per year to zero as an immediate measure to get people solvent and spending.

Repeat until 200 billion is spent.

It would have brought down the entire economy.

Theres a difference between tough love and financial suicide.

(BTW, I would have done things differently, but not as you suggest)

BitterAndTwisted

Mr.Brown wrote: »

Have we managed to agree yet that this closure is bad and sad news? Regardless of the bigger bull or bear picture - it must be bloody desperate for those people involved. Without wanting to make any political capital I would like to see a minister down there, with a plan and some action. Preferably Mandelson or Brown, let's see what the current government can do to help.

200 billion to help the City...

I would like to see Bosch shareholders paying back the tens of millions of pounds in subsidies they got from the British tax-payer during the 90s to induce them to put their bloody factories in Wales in the first place

macaque_2

Wheezy wrote: »

Manufacturing makes up only 16% of UK economy, and has been declining for the last couple of decades.
Hamish is right, we can't rely on manufacturing to prop up economy. You want to compete with countries where people work for 50p a day?

There is so much wrong with this I don't know where to start.

1. The UK service industry is a very bad employer. The quality of life for many office cleaners and restaurant workers in London is as bad or worse than for low paid workers in the third world.

2. A team of 10 people on a pharmaceutical plant can manufacture $1b worth of APIs a year. People who work on these plants and the businesses that support them do not pay minimum wages (by a long chalk). Plants like this are quietly closing every few months in the UK.

3. Manufacturing jobs generally provide better pay and better working conditions than most service industries.

4. When manufacturing goes, R&D follows within a few years. When R&D goes, the knowledge economy shrinks. The UK's real knowledge economy (and I am not talking about the Micky Mouse MBA's doing hot air reports for Gordon Brown and local government offices) is getting greyer every year.

5. Many of the manufacturing jobs disappearing from the UK are not going to low cost economies. They are moving to places like Germany and Switzerland.

6. The idea that we can have an economy where 50% of the population are BTL landlords whilst the rest work like slaves trying to compete with the rest of the world is just not going to work.

StevieJ

Thrugelmir wrote: »

Been through? :rolleyes:
.

Recessions finish on one positive quarter so fairy confident that we will see that the recession has finished :rolleyes:

Old_Slaphead

BitterAndTwisted wrote: »

I would like to see Bosch shareholders paying back the tens of millions of pounds in subsidies they got from the British tax-payer during the 90s to induce them to put their bloody factories in Wales in the first place

There are still other Bosch factories around the UK providing significant employment for UK nationals (I know because they are our main customer)

ravenfield

HAMISH_MCTAVISH wrote: »

It would have brought down the entire economy.

Theres a difference between tough love and financial suicide.

(BTW, I would have done things differently, but not as you suggest)

How you would have done it then?

HAMISH_MCTAVISH

ravenfield wrote: »

How you would have done it then?

Nationalised the banks that needed rescue, and pumped the QE directly into them using it to aggressively lend into the economy. A bit more for mortgages, as falling property values kill banks balance sheets and restrict lending further. But a lot more for small business lending, as that is the real engine of our economy and job creation.