UK Coalition Government Comprehensive Spending Review - Oct 20th 2010

quantic

"Mr Osborne told Day Two of the Tory Party Conference that no household will be able to claim more than £500 a week in total in handouts - the average family's take-home pay."

In other words, £35k before tax combined income?

This is more than me and my partner take home combined. Great incentive to work

Wookster

Graham_Devon wrote: »

To be fair, you'd say this whatever was announced.

They are the largest cuts since the second world war (BBC quote). Hardly a damp squid. Will take a few days to get to the real issues.

First time I ever heard announcements of 480k jobs going and someone saying it's a damp squib. What you want? 2/3 million people cut?

Only hamish & backlight would say that 500k jobs gone & retrenchment of 12% of GDP will have no effect on house prices.

Blacklight

Wookster wrote: »

Only hamish & backlight would say that 500k jobs gone & retrenchment of 12% of GDP will have no effect on house prices.

I would say that 500k jobs going in one place and 500k jobs being created in another may have no negative impact on the current property market.

FTBFun

Wookster wrote: »

Only hamish & backlight would say that 500k jobs gone & retrenchment of 12% of GDP will have no effect on house prices.

It may have an effect on average prices of course, but it depends where the cuts are in particular.

Graham_Devon

Blacklight wrote: »

I would say that 500k jobs going in one place and 500k jobs being created in another may have no negative impact on the current property market.

Thing is, we KNOW 490k jobs are going.

You HOPE 490k jobs will be made in the private sector.

It's highly unlikely. Some jobs will be made in the private sector, but the cuts in the public sector will hit the private sector, in terms of suppliers.

It's also worth remembering just how many public sector jobs being lost that are NOT being reported. All the masses of contractors who have been bought into the public sector under a private sector contract.

As a commentator said earlier "it sounds nice, but it's simply not going to happen".

Old_Slaphead

Graham_Devon wrote: »

Thing is, we KNOW 490k jobs are going.

You HOPE 490k jobs will be made in the private sector.

It's highly unlikely.
As a commentator said earlier "it sounds nice, but it's simply not going to happen".

490,000 jobs over 5 years is 100,000 pa. (many of whom will opt for early retirement)

Approx 22 million in private sector employment.

New jobs required 0.5%

Easy peasy

Graham_Devon

Old_Slaphead wrote: »

490,000 jobs over 5 years is 100,000 pa. (many of whom will opt for early retirement)

Approx 22 million in private sector employment.

New jobs required 0.5%

Easy peasy

Tell you what....

We'll see

Wookster

Blacklight wrote: »

I would say that 500k jobs going in one place and 500k jobs being created in another may have no negative impact on the current property market.

So all the jobs will be seamlessly moved to private sector?

Old_Slaphead

Graham_Devon wrote: »

Tell you what....

We'll see

Okey dokey - but you know that in a few years all sorts of things will have happened to ensure wel'll have no idea whether the jobs were or weren't created.

Graham_Devon

Old_Slaphead wrote: »

Okey dokey - but you know that in a few years all sorts of things will have happened to ensure wel'll have no idea whether the jobs were or weren't created.

Of course.

But the unemployment figures moving up or down when we know 490k jobs are going, will be a useful indication.