cHodAX
I am a FH squatter
- Joined
- Jan 7, 2004
- Messages
- 19,742
http://www.bbc.co.uk/news/business-17836624
Official now but knew it was coming for a few years, infact I had quite a few rows in other threads, essentially it was a case of needing to reduce a drastically inflated defecit whilst keeping the economy stimulated enough to show consistent growth. The cuts were too much too soon and now we are at the point where a large portion of the population is too scared to spend the money they actually do have nevermind obtaining credit they can't afford. The sad fact is that the big players in Europe and much of the world are well out of recession showing reasonable growth levels, we are heading in the opposite direction and will only become less competitive.
Nice to see we can afford to give the IMF £10 billion though whilst letting the banks owned by the taxpayer continue to hand out obscene bonuses rather than pay down the debt they owe to the nation.
Official now but knew it was coming for a few years, infact I had quite a few rows in other threads, essentially it was a case of needing to reduce a drastically inflated defecit whilst keeping the economy stimulated enough to show consistent growth. The cuts were too much too soon and now we are at the point where a large portion of the population is too scared to spend the money they actually do have nevermind obtaining credit they can't afford. The sad fact is that the big players in Europe and much of the world are well out of recession showing reasonable growth levels, we are heading in the opposite direction and will only become less competitive.
Nice to see we can afford to give the IMF £10 billion though whilst letting the banks owned by the taxpayer continue to hand out obscene bonuses rather than pay down the debt they owe to the nation.