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Whitehall Plans Massive Cuts

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Secret “doomsday†plans for 20% cuts in public spending are being prepared by senior civil servants, who fear politicians are failing to confront the scale of the budget black hole.

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Actually just read under the headline for that..

http://www.timesonline.co.uk/tol/news/uk/article6638318.ece

Licence payers fund BBC chief's £8m pension:

Two BBC bosses have racked up the biggest pensions in the public sector, together worth more than £14m.

Mark Byford, 51, the deputy director general, is to receive a pension of at least £229,500 a year from a pot valued at almost £8m. This could rise to more than £10m if he works at the BBC until the age of 60.

The "looting-o-meter" must be well into the red and almost off the scale now!

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Guest sillybear2

The tax base is being decimated, from corporation tax, income tax and NI, look at BT's latest scheme or Honda's pay cuts, whilst this is preferable to job losses and a higher claimant count, it does nothing for HM Treasury. Remember the unemployment statistics should be counted as a double loss, 500k people losing their jobs is 500k people no longer contributing tax and 500k now collecting payments.

Edited by sillybear2

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Sorry :unsure:

The tax base is being decimated, from corporation tax, income tax and NI, look at BT's latest scheme or Honda's pay cuts, whilst this is preferable to job losses and a higher claimant count, it does nothing for HM Treasury. Remember the unemployment statistics should be counted as a double loss, 500k people losing their jobs is 500k people no longer contributing tax and 500k now collecting payments.

Yes. Hence its a good thing that some people 'in charge' are taking action... or at least making plans.

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Guest sillybear2
Yes. Hence its a good thing that some people 'in charge' are taking action... or at least making plans.

These plans are being made for the IMF and the very real possibility our sovereign debt will be downgraded.

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The tax base is being decimated, from corporation tax, income tax and NI, look at BT's latest scheme or Honda's pay cuts, whilst this is preferable to job losses and a higher claimant count, it does nothing for HM Treasury. Remember the unemployment statistics should be counted as a double loss, 500k people losing their jobs is 500k people no longer contributing tax and 500k now collecting payments.

The solution is simple.

Abolish all public sector pension entitlements except the police and the military.

Double police and military pay and then take on any dissenters.

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On my thread about why no government can do cuts.. we came to the conclusion that it would have to be the IMF forcing the cuts on Britain.

The best plan was to reduce wages and pensions by 20% across the board..(btw my estimate was to get a sane budget by historical standards we'd have to cut by 21% so this 20% estimate sounds plausible to me).

If instead they chose to cut 20% of the workers and the contractors did the same with the cuts, it would cause severe unemployment.. I estimated 1.7 million jobs lost.

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My cup runnth over :)

On my way into work i been hassled by a bloke in an Audi Q7, its on a 57 plate (Lease hire) & he runs/ in partership of a local "David Llyod fittness centre".............I discussed this with a contact that informs me.

Its sent to fold because most member have walked.

The Local Drug dealers won't invest in it either.

One to watch.

Mike

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I heard an estimate on the radio news last week that the tax take was down by 10% already. The Whitehall bosses maybe simply extrapolating from that...

This is phase one of a depression and the next phase is about to start. I recon we have got to September at best before the markets make their next big move south. I just hope the bankers are made to repay what they have stolen from the tax payer...

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Sorry :unsure:

Yes. Hence its a good thing that some people 'in charge' are taking action... or at least making plans.

These would be the same people 'in charge' who have royally been f**cking everything up for years.

Still good to know that bankers bonuses have all been saved.

Millions unemployed and mass poverty is a price worth paying to keep the elites in the manner to which they have become accustomed.

Edited by up2nogood

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Guest sillybear2

Tax take is down and government is forced to foot bills for things virtually outside its control, i.e. debt interest on the ever increasing national debt has to be met, as does benefit payments to the unemployed, and loan loss commitments made to the banking parasites, so departmental spending will have to be cut deep, if you want to protect health spending for political reasons then it means others departments will be doubly hit.

Forget about expansionism, the state needs to do a radical rethink on the activities it currently undertakes which cannot be sustained in the future, whole ministries will need to disappear, the DTI/BIS is basically pointless and the FSA freely admits its incapable of doing the tasks placed upon it.

Edited by sillybear2

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Licence payers fund BBC chief's £8m pension:

The "looting-o-meter" must be well into the red and almost off the scale now!

Erm ....

For most of us there's a "lifetime limit" on how big our pension pot can grow. I'm not sure exactly what it is, but it's certainly less than 2 million. Possibly £1.6m, from a vague memory.

Under what rules do some folks get much larger pots?

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Might explain why the FSA have been running around like blue ar55ed flies lately, desperately trying to simulate utility- never have so many stable doors been slammed shut so hard and so fast. :lol:

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I just hope the bankers are made to repay what they have stolen from the tax payer...

Have you seen Northern Rock's recent performance? It's just gone from bankrupt to even more bankrupt!

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The state is screwed. Game Over. Hyperinflation.

It was always going to be so.This will prove the best thing ever to happen to the UK.It will destroy big government.Labour will never be elected again,ever.

HPCers must avoid the carnage though.Assets well out of sterling.Commodities will outperform sterling by a long way,so money into Australian stocks could be a very good investment.

Gains from the rises,and the currency collapse thats coming.

The world economy is moving through this,and will recover.The UK is stuffed.High inflation,high interest rates and massive spending cuts,at best.

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Erm ....

For most of us there's a "lifetime limit" on how big our pension pot can grow. I'm not sure exactly what it is, but it's certainly less than 2 million. Possibly £1.6m, from a vague memory.

Under what rules do some folks get much larger pots?

A pension of over £35K is deferred earnings - and should be banned.

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It was always going to be so.This will prove the best thing ever to happen to the UK.It will destroy big government.Labour will never be elected again,ever.

HPCers must avoid the carnage though.Assets well out of sterling.Commodities will outperform sterling by a long way,so money into Australian stocks could be a very good investment.

Gains from the rises,and the currency collapse thats coming.

The world economy is moving through this,and will recover.The UK is stuffed.High inflation,high interest rates and massive spending cuts,at best.

I suppose you are correct. We should try to look past what we are forced to go through, and look on the bright side.

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Have you seen Northern Rock's recent performance? It's just gone from bankrupt to even more bankrupt!

I guess the guy running it is doing quite nicely out of it.

Also note that Lord Mandy is not releasing the SFO report into the collapse of MG-Rover. Might set too many precedents!

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look on the bright side.

Always :rolleyes:

QUOTE (durhamborn @ Jul 5 2009, 08:07 AM) *

Labour will never be elected again,ever.

Really? - Are the masses going to be properly educated next time around?

'This was a 'global' problem; the great leader did his best but mighty little Britain was blown off-course'.

Dig deeper & the dumbed-down have to try using original thought!

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It was always going to be so.This will prove the best thing ever to happen to the UK.It will destroy big government.Labour will never be elected again,ever.

HPCers must avoid the carnage though.Assets well out of sterling.Commodities will outperform sterling by a long way,so money into Australian stocks could be a very good investment.

Gains from the rises,and the currency collapse thats coming.

The world economy is moving through this,and will recover.The UK is stuffed.High inflation,high interest rates and massive spending cuts,at best.

Can you elaborate on the high inflation currency collapse thesis. The whole world is in the same trouble, without any significant differential I can't see a currency collapse (of the proportion you advocate) unless the UK or another region makes some disastrous decision and it look like Whitehall is laying the foundation for what is necessary but painful. If we do have hyperinflation it will end in a worse collapse than managing the deflation at this stage rather than latter.

I am not saying high inflation is not possible but the deflationary forces are colossal and the government is loving the fact they have people like you crowing hyper inflation encouraging savers to support the bubble in the collapse phase.

Look at the US for it's hyperinflation potential :lol:

nfp.jpg

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