I think there has been enough of the finger pointing to last a life time...we have all been guilty to a greater or lesser extent, either individually or as a group, spending more than was prudent and borrowing to cover the shortfall for many years, as ordinary people AND local and central Government, or as an employee (greedy bankers) doing what eveyone wanted and facilitating this by over extending loans where they shouldn't have, and now trying to scapegoat one group beacuse that makes us all feel better, and detracts attention from our own failings...if there is a finger to point look closer to home, and understabnd how the dying administration of Gordon Brown desperatley needed to blame someone to hang in during the election (and rather successfully given the dire mess we had got into) and remember how a certain man of Austrian origin blamed one group in society for all its ill and the almighty disaster that caused!!!!
Mikec raises some important points in this thread. There is more than one way to address the current deficit (it's amazing how quickly we seem to believe the media and politicians when it involves economics - just for the record, there is no consensus on how to tackle this situation amongst economists any more than amongst the rest of us). Economics is not a science, despite some ill-thought out arguments to contrary. Cuts on the scale we are witnessing may bring as many (if not more) problems than they solve and a longer term (albeit slower) financial solution would have my vote.
It is not a case of finger pointing either but trying to analyse and learn from the mistakes being made (and also bring those to account that are rarely made accountable for their actions). There is blame here for many that's true but a few identifiable individuals/corporations are much more responsible for this than the rest of us. It is rare to find a politician today that is willing to tackle the money markets and seriously address their inherent failings (such as the ridiculously complex financial instruments that do little but make money for those trading in them) and this should be a serious concern for us all in the longer term.
Jackie, you must know the cirumstances of an awful lot of people to be able to make these judgements of yours, and they don't reflect well on your ability to debate an issue. I reiterate, generalisations are rarely true once you get up close, as I have had the privilege of doing with lots of people (but not everybody!) in my work and life. This will be my last post too....need all my post surgical energy to find a job to pay the mortgage!
Oh for heaven's sake...I just chose the sink estates inthe NE as a random example, rather than rich Belgravia bankers...I was born in Leeds and have nothing against the North - East or West...I was just trying to say that no one LIKES having to do with less, but sometimes it's just necessary. And I DID live through the war and indeed the period after the war, when we had SO little, but people on the whole neither sulked nor grumbled. I repeat, who's FAULT it is that we;re in this mess is not relevant. We ARE in a mess, and that's the plain truth of it.
I find it quite hard not to sulk and grumble when my husband is losing his public sector job and I see that bankers are not just failing to share in the pain, but the gap between rich and poor is bigger than ever, along with the city bonuses.
There appears to have been money to assist with corporate tax, but not to stop the economy from going into recession.
The cuts the Tories are making to the public sector are permanent, not about saving money now but reducing the size of the state. Well of course the Tories do this, they are Tories, but I don't see why we should have to like it and act like there's no other choices. Of course there are choices, one is raise our corporation tax, which is one of the lowest in the Western world.
However, good use of the word forfend Jackie, I've been using it ever since I saw it, it's starting to enter my everyday dictionary.
You might have lived through the war Jackie but your comparison with the situation we are in today rather suggests you have little understanding of what is going on now I'm afraid. Putting aside the fact that we have no bombs dropping on us (just for starters), coming together - when in dire circumstances - to fight against a common enemy is quite different from feeling that there is an enemy within.
I'm with you on this Zoe. My partner is also losing their public sector job (along with many others) and has worked hard all their life and the beloved private sector of this government is - as yet - really not interested in taking anyone on other than people yet we still see so many working merrily in the financial markets on breathtaking bonuses. Fair? No, not at all.
Of course there are choices, one is raise our corporation tax, which is one of the lowest in the Western world.
the whole point in reducing the rate of CT is to make us more compeditive internationally which brings companies to the UK creating more jobs and hopefully increasing tax take.To increase it makes it more likely companies will locate or relocate to other countries with a lower rate costing jobs and tax take-the company i work for is a large international organisation which due to the changes in this and previous budgets is relocating companies to the UK bringing in jobs and revenue for GB plc so it is working.
I hope that everyone who is loosing their job finds something quickly.
"ONLY 22 companies left the UK because of tax reasons in the past four years, the government has said.
Responding to a question from Conservative MP Mark Reckless, Exchequer secretary to the Treasury David Gauke said that 22 companies moved their headquarters away from the UK for tax reasons since 2007/08. Research taken by HM Revenue & Customs showed that ten left the UK in 2008/09, and seven the following year." - Accountancy Age magazine, 29 March 2011.