Resident Posted October 18, 2012 Share Posted October 18, 2012 They said yesterday that there were now more people in the UK working than at anytime. Yes, but its part time work. And seasonal hires ahead of the Christmas period. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 18, 2012 Share Posted October 18, 2012 Hmmm, a bit of perspective required: A recession this deep should not have happened. It's been deepened by the imposition of arbitrary cuts and an abject failure to put any growth plans in place. Even if we discount the idea that we could have borrowed to stimulate the economy then where are the Chancellor's supply-side measures? The annual deficit was only cut by 25% largely because of a one-off fiscal boost caused by the Treasury taking the assets of the Royal Mail pension scheme. In return taxpayers are now on the hook for an unfunded pension scheme. Royal Mail pensions were previously funded through the assets of their fund. Now those pensions will be funded from general tax revenue year after year. A nice little problem for future generations just so Osborne could pretend for one year about a 25% deficit reduction. That said, if there are positive signs of recovery that is great. I think we're seeing a very slow and unconventional readjustment after what has after all been a very unconventional financial crisis. Link to comment Share on other sites More sharing options...
AWOL Posted October 18, 2012 Share Posted October 18, 2012 Once upon a time there were three bears Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 18, 2012 Share Posted October 18, 2012 Once upon a time there were three bears http://www.telegraph.co.uk/finance/economics/9489191/Surprise-rise-in-UK-borrowing-as-corporation-tax-falls.html Borrowing so far this year, excluding a one-off boost after assets from the Royal Mail's pension fund was transferred to the Treasury, is £44.9bn, £9.3bn higher than a year ago. Link to comment Share on other sites More sharing options...
acman Posted October 18, 2012 Share Posted October 18, 2012 We won't have 'growth' as we've known for the last 20+ years as it has been almost debt based, this was on the back of cheap energy, mainly oil, now the cheap oil has gone and having to get it from more inhospitable places, the price will remain high. The recent energy price rises will make household budgets being squeezed even more especially has we now are entering the time of increased energy usage.The UK is now and has been for a few years a net energy importer. As I1L2T3 has said the deficit reduction is mainly due to the Royal Mail pension fund shift, politicians now have only one option left, print money, which is what is happenening on a monumental scale, but each bout of 'QE' has a shorter impact than the one before, politicians of all hues know this but the alternative is very painful, not that it matters though as politics nowadays is a short term business, and this lot will have gone and it will be left to someone else, it's just a case of being able to say 'it didn't happen on my watch. Regards, acman. Link to comment Share on other sites More sharing options...
vinyl Posted October 18, 2012 Author Share Posted October 18, 2012 And seasonal hires ahead of the Christmas period. What July to September!!!! Link to comment Share on other sites More sharing options...
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