I find it tends to be best to not express (or even have) any political opinions until at least 5 years after getting into politics on a daily basis.well, i guess that will teach me a lesson about believing what my new labour supporting friend tells me!
I find it tends to be best to not express (or even have) any political opinions until at least 5 years after getting into politics on a daily basis.
Nah it's not so bad. It's better than anarchy and that 7 billion people can coexist and "only" have some wars here and there is remarkable enough as it is. I think we're doing pretty well considering.
Indeed. People rag on S&P, but Moody's are on a whole other level of incompetence.
Either way, the message they have given to us is still true. Our public finances are in a terrible state and any further shocks from Europe will likely see us fall into a debt spiral that will be tough to break.
The Chancellor needs to ensure that we still have some room to manoeuvre should the Euro go up in flames. That means extra spending cuts this year and next, maybe £7bn this year and £10bn next year. That adds up to about £50-60bn over the life of the spending period which brings our overshoot from the original plan down below £100bn. That plus slightly better growth for this year and next year will be enough to keep the AAA rating. Finding £7bn of savings this year should be very easy, there are so many areas of government that are useless and could do with trimming down.
Yeah.
Where does this pearl of wisdom come from?
It's like watching a bunch of addicts at the moment (UK financiers, not you guys)...."just 7 more billion, and I promise I'll sort it out. Give me one more chance, you know I'm good for it."
UK unemployment rose by 48,000 to 2.67 million in the three months to December
God damn when will this shit end :'(
until the eurozone stops teetering and until the tories have a credible economic plan for starting growth
UK unemployment rose by 48,000 to 2.67 million in the three months to December
God damn when will this shit end :'(
They do flexible monetary policy, low interest rates and QE, its just that everyone is sitting on their cash because every time people switch in the news they hear about the imminent collapse of the euro zone and how the world will end as a result.
If the eurozone crises was nipped in the bud 18 months ago I believe we would have seen solid growth last year but the whole world is being dragged back by the endless inability of the EZ to come up with a credible plan once and for all.
Where does this pearl of wisdom come from?
It's like watching a bunch of addicts at the moment (UK financiers, not you guys)...."just 7 more billion, and I promise I'll sort it out. Give me one more chance, you know I'm good for it."
well, we can argue about counterfactuals all day, but i believe that if we'd followed a more moderate programme of cuts and combined it with fiscal stimulus we'd be doing a lot better
well here's an example, my mum does volunteer work for the citizen's advice bureau, which now has a massive shortfall on their budget because of cuts at the local and national level
don't worry yourself though, it's only poor people who are affected
So the CAB aren't giving out free advice anymore?
Cant they look at what they do and find a cheaper way of doing it or is that simply too much like hard work?
well, we can argue about counterfactuals all day, but i believe that if we'd followed a more moderate programme of cuts and combined it with fiscal stimulus we'd be doing a lot better
this is your best response? lol, okay.
No, that's the public sector actually. In real terms public sector spending is 50% higher now than it was in 2002, does the public sector feel 50% better than in 2002? I don't think so. In fact because of changes to the curriculum under Labour in 2007 my school is worse now, though they recently got Academy status and will be reversing a lot of the changes and moving to IGSCE.
for someone accusing another (erroneously, i might add) of parroting a party line, you're spouting an impressive amount of tory hogwash
look, we're not going to agree on this. you're in finance and a tory voter, i trust your analysis about as far as i can throw it, and being a weak academic type that's not very far. vice versa for your opinion of me, i'm sure.
i could sit here and disagree constructively with your post but you're just going to turn around at the end of it and announce that i'm wrong and type out another post disagreeing with me
and ultimately it's not actually going to have any effect on the situation
so if it's all the same to you, i'm not going to bother
for someone accusing another (erroneously, i might add) of parroting a party line, you're spouting an impressive amount of tory hogwash
look, we're not going to agree on this. you're in finance and a tory voter, i trust your analysis about as far as i can throw it, and being a weak academic type that's not very far. vice versa for your opinion of me, i'm sure.
i could sit here and disagree constructively with your post but you're just going to turn around at the end of it and announce that i'm wrong and type out another post disagreeing with me
and ultimately it's not actually going to have any effect on the situation
so if it's all the same to you, i'm not going to bother
are you calling me a labour supporter? lol
[edit]there's only one political party membership card in my wallet, and it's not red
oops! try again!
No, that's the public sector actually. In real terms public sector spending is 50% higher now than it was in 2002, does the public sector feel 50% better than in 2002? I don't think so. In fact because of changes to the curriculum under Labour in 2007 my school is worse now, though they recently got Academy status and will be reversing a lot of the changes and moving to IGSCE.
I would like to know which specific area you believe the cuts have effected your life personally, and remember so far the cuts have been £6bn in 2010/11 and £7bn this year in 2011/12. Where do you think those £13bn annual savings have been made and how does it effect your life (or even the life of people around you)?
who cares? point is you believe the Labour line hook line and sinker
From '97 onwards I certainly saw improvements right across Liverpool.. I can't speak for other cities, but the investment and regeneration from then up until 2008 was unprecedented to me. I can remember when some of the estates around Scotland road near the city center were derelict, Granby street was a mess for years.. they boarded up old properties around Lark lane and the national express route into the city and painted them over with clever and inventive window scenes to make them less ugly to look at, the Paradise Street project paved the way for the new Liverpool One shopping center, completely transforming town towards the waterfront... I mean, its a completely different city now than when I was a kid, and that wouldn't have been possible without investment. In the long term, I can't help but feel a lot of that was definitely for the best.
are you calling me a labour supporter? lol
[edit]there's only one political party membership card in my wallet, and it's not red
Beyond looking nice Liverpool One is shit.
The Lord of Westminster basically bought up loads of public land where One stands now and privatised it. It's one of the only open city centres in the free world that you can be escorted off without committing an offence.
What did waterfront regeneration do for Liverpool? It didn't give any jobs beyond some part time shit at a Topman. What Liverpool needed was investment in infrastructure, more investment in John Lennon so it could compete with Manchester for regional travel, more investment in daycare facilities, youth clubs and schools.
It didn't need a shiny shopping mall.
black people just make me so mad.
Well from my perspective growing up on Bethnal Green, one of the poorest/most deprived areas of Tower Hamlets, one of the poorest/most deprived boroughs in London, I really didn't see any improvements under Labour.
I left primary school in 1997 just as Labour got in and saw a pretty gradual decline in my estate. The place felt abandoned to be honest, there were no improvements and crime seemed to get worse with blatant drug deals happening just around the corner from the Chinese take away police would go to for their dinner! But there are improvements now. The area I have recently moved to (Bow) has a lot of development going on and they are building loads of nice new flats.
To be fair, you like to make out the country got absolutely nothing for the spending excesses, and thats your pejorative - but its not my experience at all.
From '97 onwards I certainly saw improvements right across Liverpool.. I can't speak for other cities, but the investment and regeneration from then up until 2008 was unprecedented to me. I can remember when some of the estates around Scotland road near the city center were derelict, Granby street was a mess for years.. they boarded up old properties around Lark lane and the national express route into the city and painted them over with clever and inventive window scenes to make them less ugly to look at, the Paradise Street project paved the way for the new Liverpool One shopping center, completely transforming town towards the waterfront... I mean, its a completely different city now than when I was a kid, and that wouldn't have been possible without investment. In the long term, I can't help but feel a lot of that was definitely for the best.
I went to two high schools in the Maghull area, and both of those are vastly improved since I attended - both in terms of behavioural figures and in terms of facilities -- I know this because I've got family putting their kids through the schools now. There are classes taking place at the more deprived one I attended that just weren't possible when I was there... and when I attended Maricourt, it was a good school, but its even better now -- they run CISCO and Microsoft accredited quals from the sixth form, they've responded to their musical pedigree (ties to the band Gomez, Heidi Range from the Sugarbabes - she was in my class btw) by building a new music block, they have improved sporting facilities. When I attended University in Lancashire, it wasn't actually a University at that point - it was a College of Higher Education, with its graduates travelling to Lancaster for their degrees. Now the campus is bigger, with two huge new faculties built on the grounds, improved sports facilities and a lake to drain away the ground water that was causing some of the buildings to sink (I'm talking at a rate of mm per year!)... it's vastly improved.
That University also has ties with Aintree Hospital / Fazackerly Hospital now, which is where I was born, the hospital is bigger and better than it was before.
I'm betting people here can think of similar instances of how areas in London, Leeds, Manchester or Birmingham have improved... and this is all before we take into account the jobs generated -- look down on public sector work as you might, it employs people and makes a large proportion of people economically active that otherwise wouldn't be, and a lot of them do jobs that keep this country running and keep it protected.
I think we did get something for our money, just like you can get nice things on your credit card... it's just that you've got to pay the bill eventually, and we're in a position now where we are having to cut things in order to have money to do that.
What is frustrating to me, is how eager this government seem to be to turn the clock back on progress by swinging the scythe, when ideally, they'd be prioritising the cuts better and making sure the more beneficial things were saved... I'm not convinced they're doing that. The money being lost in avoidance and evasion is eye watering compared to the money they're actually spending employing people. I know we've discussed that that's difficult to deal with without driving people away, but it doesn't make it any less annoying. Likewise, the money we pissed down the drain on Iraq and the money we piss away on defence in general is eye watering too... I say this as an employee in Defence. I think the people in the MOD and armed services do a great and under-appreciated job, but I feel like we are becoming recklessly invested in war economy like the Americans... if you do that, before long, war becomes an addiction itself.
A lot of cuts coming down the pike now are necessary, but I'd just like to see them turn that ruthless eye a bit more on what goes on in London. Not just whitehall, but what they let people get away with in the City. They seem to be overlooking a lot of waste and a lot of unnecessary losses, while pushing for arbitrary targetted cuts that affect everyone else, arbitrary figures - like your £7bln - how do you / your sector / politicians arrive at numbers like that exactly? Are you sure, for example, that we got the best money we could have from the Northern Rock / Virgin Money deal?
I'm curious to know whether the hundreds of thousands that they're nudging towards 'voluntary' redundancy will count towards unemployment figures. Because they should imo.
The Department of Health has apologised after documents sent to the Guardian showed that contrary to assurances given to parliament, more than 25 senior staff employed by the department are paid salaries direct to limited companies, with the likely effect of reducing their tax bills.
In some cases, the documents show the named individuals are being paid more than £250,000 a year, as well as additional expenses.