The Government is very boastful now about the state of the Economy. There has been a little growth, but nothing like that predicted or needed. Where is the money coming from now that funds this though? Not income or savings, oh no, but borrowed money of course! Not very sustainable is it? Not a good news situation really then is it?
Employment has increased (a big surprise to all including the Government!), and not decreased as feared by Labour. Perhaps Labour meant real jobs, jobs that paid a reasonable income that people could live off and not need to claim benefits to supplement life? Of the over a million jobs created, some third are only part time, and there can be little confidence in the quality of the others.
Unemployment is falling because welfare support is reducing (though the overall costs go up!) and so any rubbish job will be taken on whatever the low pay or hours. Those who have however been in long term ‘full’ employment find that their wages rise less than inflation, meaning that every year for the last 3 years they have been steadily getting worse off (reportedly as much as fifteen hundred pounds). Living standards are falling sharply. and Foodbank use is increasing equally sharply (over half a million using them!).
Giant multinational corporations (such as Starbucks, Amazon and Google) continue to channel their substantial profits abroad and don’t pay taxes here in the UK (Starbucks suffering customer loss now changing tack!). A quarter od UK’s largest companies don’t pay tax – say for example Vodafone the biggest mobile operator in thee World, Tate & Lyle, British American Tobacco.
Major long established firms, many of them retailers (like Woolworths, Comet, Principles, Clinton Cards, Tie Rack, Oddbins, ocus DIY, Dreams beds, and Blockbusters) and many dozens of travel firms, have been driven to the wall, and at an increasing rate – up to fifty a day!) – leaving hundreds out of work directly (and many more indirectly), as well as them failing with substantial bankruptcy debts, meaning many other smaller firms and individuals are substantially out of pocket.
We were warned about all of such problems here years ago when Chancellor George Osborne announced his so called ‘Recovery’ Plan – not by a soothsayer or a psychic with a crystal ball, but by a renowned Japanese Economist BECAUSE his country had trod the same path proposed, with the same disastrous consequences. [Apparently Osborne was armoured with the performance of Canada who had previously (a decade earlier) got an amazing recovery – but our George didn’t take into account that Canada at the time had a buoyant America on their doorstep to provide an accessible market, while the UK had to rely solely on a European Union market in the same mire as ourselves (and in some cases worst)].
Tax benefits are being given to millionaires, so they certainly can spend more money, but not necessarily within the British economy – but probably on Champaign so France is the beneficiary! Government borrowing has been some two hundred billion pounds more than planned this year. The Plan A for removal of the deficit and return to balance operation is blown to smithereens – no longer to complete both targets in this Parliament as promised by Osborne to justify the unnecessarily harsh and rushed austerity measures (and the way it is going, such recovery will be well into the next parliament, if even then!). Meanwhile our MPs and Lords continue of course to milk their respective parliamentary lax expenses systems to unbelievable limits .[Don’t panic MPs – you are going to get a massive 11% salary rise, while you continue to vote to keep the rest of the real workers on about 1%!].
Oh yes Mr Cameron things are certainly looking very rosy indeed now – NOT
[Sleep well if you can affort the ripoff energy prices to heat your home tomorrow or can keep up with the massive inflation in food prices so can feed yourself and your family this week!]