Cuts? What Bloody Cuts?

[Boom Boom]

The MSM have got themselves into such a frenzy about 'cuts' that it has escaped their notice that practically no cuts are going to be made until 2013. The narrative going into the election from the Conservatives was that very significant cuts had to happen very soon,and yet now it seems they can wait.

http://www.wheredoesmymoneygo.org/cuts/summary/

Not exactly the savage cuts advertised.

[dances with sheeple]

The MSM have got themselves into such a frenzy about 'cuts' that it has escaped their notice that practically no cuts are going to be made until 2013. The narrative going into the election from the Conservatives was that very significant cuts had to happen very soon,and yet now it seems they can wait.

http://www.wheredoes...g/cuts/summary/

Not exactly the savage cuts advertised.

Personally past caring, we live in a La La land now, just do the things everyday that are important to you and stay debt free, that is my philosophy, work if you have to but set time aside everyday to pursue dreams and goals, don`t listen to media or sheeple.

[leicestersq]

The MSM have got themselves into such a frenzy about 'cuts' that it has escaped their notice that practically no cuts are going to be made until 2013. The narrative going into the election from the Conservatives was that very significant cuts had to happen very soon,and yet now it seems they can wait.

http://www.wheredoesmymoneygo.org/cuts/summary/

Not exactly the savage cuts advertised.

I can feel a rant coming on about this, but not just yet. Maybe I will save it for a new thread.

You are absolutely right, there havent been any cuts of note. Even the ones mooted seem to end with the Government backing down. From what I can tell, they arent even backing down because they cant take the Liberals with them. That would at least be a valid excuse.

If the best they can do is cap Housing Benefit at £400 a week or whatever it was, and force familes to live on 25 grand a year, tax free, in exchange for zero contribution, then I think making the budget balance is going to prove a bit of a struggle for them.

I would also like to see just how they are going to pay for all those pensions promises that they made just as soon as they got in. Seemed to me that pensions were the one area that needed the hatchet more than any other.

Still, I am sure that they know exactly what they are doing.

[Bob Loblaw]

I can feel a rant coming on about this, but not just yet. Maybe I will save it for a new thread.

You are absolutely right, there havent been any cuts of note. Even the ones mooted seem to end with the Government backing down. From what I can tell, they arent even backing down because they cant take the Liberals with them. That would at least be a valid excuse.

If the best they can do is cap Housing Benefit at £400 a week or whatever it was, and force familes to live on 25 grand a year, tax free, in exchange for zero contribution, then I think making the budget balance is going to prove a bit of a struggle for them.

I would also like to see just how they are going to pay for all those pensions promises that they made just as soon as they got in. Seemed to me that pensions were the one area that needed the hatchet more than any other.

Still, I am sure that they know exactly what they are doing.

Really an admission by the Conservatives that the NMW is not enough to actually live on in the UK without additional government support.

[bomberbrown]

Really an admission by the Conservatives that the NMW is not enough to actually live on in the UK without additional government support.

Indeed! You would need to be on £21.73 an hour for a 35 hour week to equal £500 a week tax free benefits!!!

[OnlyMe]

Indeed! You would need to be on £21.73 an hour for a 35 hour week to equal £500 a week tax free benefits!!!

Have you taken into account the cost of going to work? Travel, clothes, child minding, lost opportunities to save money elsehwere becuase you are busy working and don;t have the time to shuffle your costs or indeed things like home repairs that you pay for becuase you don't have the time? It is £500 tax free without lifting a finger and expending a second of your own resources and time.

[Realistbear]

Putting the "cuts" on the backburner is a form of QE11. Keep the bubble inflated by continuing the Brown-style spending.

The alternative is a depression of significant magnitude.

Lots of trouble brewing this side of Crimbo. Our credit rating has been based on how well the Koalishon (were going to) handle the deficit and reduce spending. If the markets wake up to the fact that it is windowdressing we cold see some Sterling selling and rising bond rates which will bring extra gfrief to house prices. I think the Koalishon should stick with the cuts--pain today joy tomorrow.

[bomberbrown]

Have you taken into account the cost of going to work? Travel, clothes, child minding, lost opportunities to save money elsehwere becuase you are busy working and don;t have the time to shuffle your costs or indeed things like home repairs that you pay for becuase you don't have the time? It is £500 tax free without lifting a finger and expending a second of your own resources and time.

The short answer to that is a resounding 'no', and a factor that I hadn't even really considered. The more you look into these 'benefit cuts', the more you begin to understand just how ludicrous they were in the first place!!

What we need now is a referendum on benefit reforms because this coalition government just really haven't got the balls to do what's necessary to be frank.

[council dweller]

Putting the "cuts" on the backburner is a form of QE11. Keep the bubble inflated by continuing the Brown-style spending.

The alternative is a depression of significant magnitude.

Lots of trouble brewing this side of Crimbo. Our credit rating has been based on how well the Koalishon (were going to) handle the deficit and reduce spending. If the markets wake up to the fact that it is windowdressing we cold see some Sterling selling and rising bond rates which will bring extra gfrief to house prices. I think the Koalishon should stick with the cuts--pain today joy tomorrow.

It's them computer thingies, they can make calculations in milli-seconds, just wait 3 years, you'll see!

[Toto deVeer]

Putting the "cuts" on the backburner is a form of QE11. Keep the bubble inflated by continuing the Brown-style spending.

The alternative is a depression of significant magnitude.

Lots of trouble brewing this side of Crimbo. Our credit rating has been based on how well the Koalishon (were going to) handle the deficit and reduce spending. If the markets wake up to the fact that it is windowdressing we cold see some Sterling selling and rising bond rates which will bring extra gfrief to house prices. I think the Koalishon should stick with the cuts--pain today joy tomorrow.

The game now is to at least stall the collapse later than everyone else.

I've concluded that the US system is utterly collapsing. There is talk of a 90 day moratorium on foreclosures, a one in five rate of default is expected, class action lawsuits have been filed in two states against the major mortgage lenders and processors (robo signers), and South Carolina has just introduced legislation to use silver and gold coins as legal tender. The engines of the financial system are seizing up and the wheels are coming off.the bus. Nobody has any idea who owns what in the mortgage market, And Europe bought most of these turds.

We haven't even started talking about the $1.4 quadrillion derivatives market.

There is no doubt that the TBTF banks are going to collapse. This will have major impact on the UK, which stands at the very epicentre of the current global banking system.

The pols must know this is coming and are just trying to hold off as long as they can. Time to get your gardens planted and put something exchangeable under the mattress. I hear they like Parmigian cheese as collateral in Italy. Kinda wiffy under the mattress though. The wife might not like it.

[Realistbear]

The game now is to at least stall the collapse later than everyone else.

I've concluded that the US system is utterly collapsing. There is talk of a 90 day moratorium on foreclosures, a one in five rate of default is expected, class action lawsuits have been filed in two states against the major mortgage lenders and processors (robo signers), and South Carolina has just introduced legislation to use silver and gold coins as legal tender. The engines of the financial system are seizing up and the wheels are coming off.the bus. Nobody has any idea who owns what in the mortgage market, And Europe bought most of these turds.

We haven't even started talking about the $1.4 quadrillion derivatives market.

There is no doubt that the TBTF banks are going to collapse. This will have major impact on the UK, which stands at the very epicentre of the current global banking system.

The pols must know this is coming and are just trying to hold off as long as they can. Time to get your gardens planted and put something exchangeable under the mattress. I hear they like Parmigian cheese as collateral in Italy. Kinda wiffy under the mattress though. The wife might not like it.

I have a feeling that another wave of poison is about to hatch out of the mud in which it has been lying for, perhaps, 300 years ever since the SS Bubble.

[Guest_FaFa!_*]

The Comprehensive Spending Review is on 20th October. Cuts will start next fiscal year, I should imagine. Rumours are that the cuts will be heavily front loaded. However it could be expectations management. A lot of people don't understand that the cuts are supposed to be 30% - 40% over 5 years and I think are expecting 40% cuts in a year. Many of these people also do not understand the difference between a deficit and a debt.

[Toto deVeer]

I have a feeling that another wave of poison is about to hatch out of the mud in which it has been lying for, perhaps, 300 years ever since the SS Bubble.

Very primordial analogy. That really appeals to my reptilian brain functions.

[council dweller]

The short answer to that is a resounding 'no', and a factor that I hadn't even really considered. The more you look into these 'benefit cuts', the more you begin to understand just how ludicrous they were in the first place!!

Well yes, but is the system too big to fix? Aren't benefits part of the foundations of our system? Remove them and the obvious thing will happen.

Have you looked at Mumsnet and the reaction to the 2013 child benefit cuts? Jaw dropping it is...

[Toto deVeer]

Well yes, but is the system too big to fix? Aren't benefits part of the foundations of our system? Remove them and the obvious thing will happen.

Have you looked at Mumsnet and the reaction to the 2013 child benefit cuts? Jaw dropping it is...

Can you give us a link?

[bomberbrown]

Well yes, but is the system too big to fix? Aren't benefits part of the foundations of our system? Remove them and the obvious thing will happen.

Have you looked at Mumsnet and the reaction to the 2013 child benefit cuts? Jaw dropping it is...

Enlighten me.

[Jie Bie]

Will the cuts even come close to reducing the governments expenditure to less than its revenue?

As an aside, does anyone know where I can see a graph or table which shows the UK governments revenue and expenditure for the last 20 or 30 years? It would be interesting to see just how much Gordon fecked up over the last few years.

[lets get it right]

Will the cuts even come close to reducing the governments expenditure to less than its revenue?

As an aside, does anyone know where I can see a graph or table which shows the UK governments revenue and expenditure for the last 20 or 30 years? It would be interesting to see just how much Gordon fecked up over the last few years.

You'll find it if you poke around the various government web sites - I've seen it somewhere.

Took 5 seconds in Google to find this ... Government spending figures

[council dweller]

Enlighten me.

I used the word 'foundation.'

Imagine a house, then imagine removing 'part of the foundation' then it's likely that the whole house will fall down.

The point is that up to now the benefits system has been regarded as 'an add on' which which could be removed but has in fact, over the past 40 years, become an integral part or indeed part of the foundations.

[Riedquat]

What we need now is a referendum on benefit reforms because this coalition government just really haven't got the balls to do what's necessary to be frank.

No we don't, because it's quite likely that the results of that will be no cuts or reforms. Look at those reports saying that Labour are now ahead in the polls, after all.

[Englaender]

Personally past caring, we live in a La La land now, just do the things everyday that are important to you and stay debt free, that is my philosophy, work if you have to but set time aside everyday to pursue dreams and goals, don`t listen to media or sheeple.

Completely unintentionally, I've increasingly found myself doing exactly this. And am a lot happier for it. Well, a little less grumpy, but being an eternal pessimist, a self-styled modern-day incarnation of Moliere's mistanhtropic Alceste (great piece of theatre by the way), that's a success of sorts.

[leicestersq]

No we don't, because it's quite likely that the results of that will be no cuts or reforms. Look at those reports saying that Labour are now ahead in the polls, after all.

I disagree, a referendum on proper benefit reform, including pensions, is a great idea.

If you include pensions, then you can guarantee that the reform will be voted down. So it wont happen.

Immediate response will be for market rates of interest to rise, the government will be bust, and be forced to balance the books. And you will get your benefit reform.

[wonderpup]

The point is that up to now the benefits system has been regarded as 'an add on' which which could be removed but has in fact, over the past 40 years, become an integral part or indeed part of the foundations.

I think the relationship between the benefits system and the rise of the 'consumer' is underestimated. The illusion was created that the state would take of stuff like sickness, old age and the care of relatives, leaving the individual free to stop saving and start spending.

So the welfare state and the consumer society are two facets of a single whole- had the first never existed, the second would never have been either- people would have too concerned with securing their future to spend their money on mountains of 'consumer goods.'

That's why we see so many 'free market' economists calling on china to create it's own welfare state- they realise you will never get the chinese to load up with debt so long as they are worrying about saving for their old age and healthcare.

[blankster]

You are absolutely right, there havent been any cuts of note.

But they have already started and a lot more are imminent, as you would know if you'd spoken to anyone working in local government recently.

Here are my suggestions:

Abolish National Insurance and make up the difference with income tax rise. Nobody loses overall, and the whole system would be a lot simpler and cheaper to administer.

Amend the Public Libraries and Museums Act to allow public libraries to charge people for borrowing books - probably via an annual subscription. At the moment they have to lend books for free, although they charge overdue fines and are allowed to charge for lending other media like DVD's.

End free bus travel for the over-60's immediately. Revert to bus passes that allow concessionary fares for the over 65's, and retain free travel only for those over 75.

Road budgets cut to essential maintenance only. Motorway resurfacing limited to 2 lanes where feasable, with 3rd lane closed off if deteriorated too much.

Edited October 6, 2010 by blankster

[White Craw]

But they have already started and a lot more are imminent, as you would know if you'd spoken to anyone working in local government recently.

Here are my suggestions:

Abolish National Insurance and make up the difference with income tax rise. Nobody loses overall

You would lose if you had any pension or taxable investment income