Its spurring me on to pay off what little debt I have left before things gets worse. This government (UK) have got it wrong IMHO, cut backs need to be made for sure, but too many too soon and you have zero confidence in new growth, and that's what's happening IMHO. This nation is going down the pan quicker than an express elevator to hell.
Damn , I got that wrong I forgot to add the poll. Anyways, I will do it in the morning. I have to be so austere (or that could be autistic) as to turn everything of at 11.40pm.
long term problems re govt overspending should have been tackled back in the 90's when the govt was spending more than it was getting and creating a myriad of non jobs to disguise the underlying problem of lack of real job growth the move to a service economy has been a complete disaster, service industries need a prime source of industries to service and derive money from, its the myth of pertetual motion to have an service economy based on servicing other service industries regardless of what action is taken now, the real decisions that should have been made and the seeds of disaster were planted at least 10 years ago
I agree that cuts needed to be made but too much, too soon strangles economic confidence and we are all suffering from that. IMO the people that caused this crisis are the ones that need to be brought to task, yet the system continues to reward them on the basis that "if we dont reward them then the'yll leave and take their talents elsewhere". Given the mess they've caused they can take their "talents" away as far as they can, for me. This government are clueless and do not understand what makes the country and people tick to get it back on course to recovery.
Badly affected. My business is selling after market parts and upgrades for bikes..and since bikes these days are a luxury, no one is buying anything other than the bare essentials. I cant even afford to race in DD this year if I'm honest, hence only having done one round........
Serious answer, not a lot. Sure no pay iincrease and more tax from my pay blah blah blah but still winning contracts, still getting to do most of the stuff I need to. Only direct impact was when I went for a loan to buy 848 last year the rate was higher thank I paid for years. Didnt stop me, just meant I had to budget a couple of quid more
Seriously I'm not affected by it. The supermarket business is as busy as ever and my standard of living is such that I'm careful with every penny and I have no debt I live to my means Though I should think as said it's affecting those in small business and self employed.
My work is connected to the public sector and the department I look after is one of the many that cannot spend money. The little (and the not so little) additional jobs the department used to pay for are no longer done ... so we have lost a lot of engineers through redundancy and profitability has been hit hard. It could be a lot worse but it really could be a lot better.
Not directly, not yet, but the lack of understand of and unwillingness to tackle the real problems means that we all will eventually. Incidentally there have been no real cuts in government spending, who still borrow £1 in every £4 they spend and both the deficit and total debt continue to rise. The mantra of 'too many cuts too fast' and 'we need to spend our way out of this recession' is tragic, we need a paradigm change, but I just don't see it happening.
Fiscal the gov use that word alot of late! No pay increase in 4 years now but i still have a job so no moaning from me. I just blame the bankers or is that wa....kers. And the not in the real world public sector....
Coupled with having been ill as well, it's effectively wiped out my main business order book......luckily I have picked up a new client, but the work I do for him won't pay the mortgage, but it might keep the wolf from the door......so I am trying to sell the house, trade down with the intention of part retiring. AL.
OK, there's no cut in government spending but they are spending less in the (very large) department I look after. I assume other departments are spending more in order to compensate. I honestly don't know whether you fight a recession by spending your way out. Or put another way, I don't know whether you can stimulate growth by shrinking the economy (by paring it down to the bone). It seems counter-intuitive to try to promote growth by inhibiting it but that doesn't mean to say it's wrong. Just seems wrong.
I think big business can to some extent support itself it's the people out there scrapping by to just keep going. I have a gardner who mows my lawn for £5 my mum asked me why I have him and wouldn't I be better off with it. My reply was that if I can help him keep going with my £10 a month then for me it's worth it. Keep the small wheels turning
The amount the government spends on interest payments is taking a larger share of the pot. I don't think you can stimulate growth by shrinking the economy, by definition that would be negative growth. I only have a superficial understanding of how the economy works, and I don't believe anyone who says they fully understand it, there is a good reason why Politics, Philosophy and Economics are studied together, but my own belief is that the 'growth' model has hit the buffers, if has nowhere left to go on a finite planet. The 'growth' that we saw in the latter part of the twentieth century was fueled by an increase in the money supply, ie debt, and the cost of that debt is no longer bearable, evidenced by the increase in bond yields to unsustainable levels. Time and time again we have been told that all we need is one more bailout or big bazooka and we can stop the rot, but none of them have worked. The bailouts have escalated from individual banks to nation states and now there isn't sufficient money in the system to bail out Spain, the current front line. We have to recognise that much of the 'wealth' we think we own is also thought to be owned by many other people and largely an illusion. Amazon.com: The End of Growth: Adapting to Our New Economic Reality (9780865716957): Richard Heinberg: Books gives a pretty convincing argument.
