Prime Minister warns of 'Years of pain ahead'

StevieJ

Mr_Mumble wrote: »

You're giving the ex-financial intervention figure from March 31st of £772bn there.

Net debt was £893.4 billion at the end of April and will be well over a trillion come the next financial year.

I am quoting Cameron from his speech this morning

Last year, our budget deficit was the largest in our peacetime history. This year – at least according to the previous government’s forecasts – it is set to be over 11 per cent of GDP. Today, our national debt stands at £770 billion.

Now if you say he doesn't know what he is talking about

thescouselander

Old_Slaphead wrote: »

Maybe you should contrast that with many areas of manufacturing who've seen will below inflation increases for years. My business has seen total rises of 4% (and no bonuses) in past 5 years - but at least we've managed to keep 100% of people in jobs throughout. I know of many SMEs with not dissimilar pay structures.

I'm not saying all business are doing well although I think there has been a fair bit of opportunism on the part of some businesses to reduce pay rises on the grounds of recent events.


My point was that not all private sector employees have suffered and some have actually done rather well despite the recent economic troubles.

donaldtramp

StevieJ wrote: »

Debt is 770 million, bad enough without you trying to exaggerate it.

I was talking only about public sector pension liabilities.

But of course, your right, only 770 million???? That's Ok then eh?:rotfl:

nembot

thescouselander wrote: »

I'm not saying all business are doing well although I think there has been a fair bit of opportunism on the part of some businesses to reduce pay rises on the grounds of recent events.


My point was that not all private sector employees have suffered and some have actually done rather well despite the recent economic troubles.

But they are by far in the minority, to be perfectly honest.


Reading that link about the lazy f'kers, especially the scumbag bride of the lazy father should be sterilised for comments like

And she adds: 'I've always wanted a big family - no one can tell me how many kids I can have whether I'm working or not.'

We need laws to stop this kind of thing.

StevieJ

donaldtramp wrote: »

I was talking only about public sector pension liabilities.

But of course, your right, only 770 million???? That's Ok then eh?:rotfl:

Ah so pension liabilities are all the debt, because below is what I was responding to, not trying a Chewbacca on me are you


Actual Debt is closer to one trillion, built up over years of increasing budget deficits.

Thrugelmir

thescouselander wrote: »

I'm not saying all business are doing well although I think there has been a fair bit of opportunism on the part of some businesses to reduce pay rises on the grounds of recent events.


My point was that not all private sector employees have suffered and some have actually done rather well despite the recent economic troubles.

But shouldn't that be the case? Reward those who put in the endeavour into private companies to make them successful.

We cut pay 8% across the board last year in order to conserve cash after the bank requested that our lending facilities be reined in. It was either that or make redundancies. The Chairman gave the whole Company a presentation on the state of affairs, straight forward hard talking. Answered questions as well. The result , no employees have left the Company due to this reason. As they have confidence in the Management, and prefer secure employment to none at all.

Old_Slaphead

thescouselander wrote: »

I'm not saying all business are doing well although I think there has been a fair bit of opportunism on the part of some businesses to reduce pay rises on the grounds of recent events.


My point was that not all private sector employees have suffered and some have actually done rather well despite the recent economic troubles.

Your original comment was that you thought the private sector wasn't doing as badly as made out was apparently based on the premise that your OH received a 7% payrise & a large bonus.

Your comment above has now been adjusted to "not all have suffered" - subtley different and impossible to refute


I think that your observation was based of a fairly small and probably unrepresentitive sample.

I prefer wider-ranging ONS stats which show, at around 1.5% for the private sector as a whole, pay awards have been significantly lower than the 2.5% average awarded to the publc sector....this in addition to significant job cuts & reduced hours working.

tomterm8

HAMISH_MCTAVISH wrote: »

Yes, but what you doomers fail to understand is that nobody actually cares.

We were losing 100,000 private sector jobs a month at the start of last year in redundancies.

To now lose 100K a year from the public sector for a few years, almost all through natural attrition, is peanuts by comparison.

As for cuts, most of it will be in real terms with nominal freezes, much of it will be through eliminating waste, and rebalancing society and the economy towards the private sector rather than public sector, which is a good thing and has to be done.

But the reality is that most people won't even notice it's being done, the cuts involved are that small in percentage terms.

So by all means keep thwapping yourselves into a frenzy over it, but the rest of us will continue to be underwhelmed.....

156 billion is equivalent to the 1.5 times the size of the NHS budget every year, and the NHS employes 1.6 million people.

It's maths.

We are not talking about 100,000 people a year.

No matter how many words you put in bold.

By the way, when I said 'employs' I was only talking about the direct employment; if you include suppliers and private sector contractors, you are probably talking more private sector redundancies than public sector redundancies.

amcluesent

Clown went quite mad on splurging money all over the NHS. GPs now at £100,000 minimum etc.

The NHS simply can't be "ring-fenced" from spending cuts in the next CSR and won't be. They were careful to use the ring-fenced statement only about the immediate £6B cuts.

Inflation will be allowed to stay > 5% for years, combined with a benefits and public sector pay freeze as a continuation of the 'soft default' policy.

tomterm8

It would be stupid to ring fence the NHS. Isn't going to happen. Can't happen.