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The Mega Spending Review Thread

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Labour let the public sector grow by 600,000 and created a £180 billion deficit.

These cuts have to come and worse still. Even today is p1ssing in the wind considering it will take years to realise the required savings.

That said, I won't take any pleasure or feel any schad today. It's just such a shame we find ourselves having to do this rather than running a more sustainable public sector.

Good luck folks - I hope it doesn't hurt us too much.

Even though I've always worked in the private sector, I know that I've benefitted from public sector largesse, being a supplier either 1 or 2 steps removed from them.

Today will affect everyone even if not immediately apparent.

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One thing guaranteed to make me angry today is any criticism by a Labour spokesman. Heard two interviews yesterday by the BBC of Labour politicians and both interviews they never pressed the point that it was Labours mismanagement of the UKs finances that has got the country into this mess. In my mind what Labour has done to the UK is nothing short of treason.

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One thing guaranteed to make me angry today is any criticism by a Labour spokesman. Heard two interviews yesterday by the BBC of Labour politicians and both interviews they never pressed the point that it was Labours mismanagement of the UKs finances that has got the country into this mess. In my mind what Labour has done to the UK is nothing short of treason.

Indeed. They've completely lost any economic credibility.

A point made recently on here is how Labour are saying that we should hammer the banks & bankers.

Well, why the hell didn't you do that during your last 13 years in office!

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Good luck folks - I hope it doesn't hurt us too much.

Bring it on!

Oh wait, they ringfenced one of the two real biggies. No meaningful cuts to NHS waste :angry:

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Personally I think this has been built up by such hype that it won't be as bad as we expect. I hope they have the balls to do what needs to be done.

The most likely area of direct pain for me would mrs pent ups job. She works in administration for the NHS. Ive been expecting that her department will be merged with one or more of the other Essex primary care trusts as there are about 6 or so who all do the same thing for their specific area. An obvious saving would be to merge several of the smaller departments together into central departments to cut middle management and lower end jobs. They have already done this recently with South west and south Essex PCT with the loss of 220 jobs.

But she hates her job anyway and her manager is a useless dimwit who probably costs the NHS more than she is worth so if her department is merged and she gets made redundant it's not so bad as long as HPC comes to fruition one income should be quite sufficient.

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One thing guaranteed to make me angry today is any criticism by a Labour spokesman. Heard two interviews yesterday by the BBC of Labour politicians and both interviews they never pressed the point that it was Labours mismanagement of the UKs finances that has got the country into this mess. In my mind what Labour has done to the UK is nothing short of treason.

Labour always strive for a larger state where as Tory's always want a smaller state. Countries nearly always run on a deficit. Sounds to me like you, along with half this forum have been well and truly sucked in by the hype.

Tory's are just doing what Tory's do. Chill with the blame culture.

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Bring it on!

Oh wait, they ringfenced one of the two real biggies. No meaningful cuts to NHS waste :angry:

See my above post. NHS budgets are being cut!

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Personally I think this has been built up by such hype that it won't be as bad as we expect. I hope they have the balls to do what needs to be done.

Listen carefully to what the coalition says it might do, and what it wants to do and what it should do and what it plans to do.

Then remember they are politicians.

Then pay closer attention to what actually happens.

:o

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Personally I don't understand people saying that goverment is a job creator. In fact, every single person employed by the state costs us a few private jobs! Thinking about the goverment as an employer sounds insane, it is and always was a moneywaster (sometimes smaller, sometimes bigger, but it's still moneywaster), and the money comes from distressed taxpayer, not a goldmine.

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Personally I think this has been built up by such hype that it won't be as bad as we expect.

Just bear in mind today as the news unfolds that all figures will be in real terms.

Think about it like a £160 billion interest only mortgage. You pay the interest every month and inflation erodes the capital amount. At present this erosion is about 3% a year.

Compounded over 4 years inflation would slice off around 13% without doing anything at all but paying off the interest. An 8% cut in the MoD budget just means they don't get an increase in their budget in line with inflation for the next 4 years. They do still get a budget increase of about 5% over 4 years, not a budget cut as the MSM would have you think.

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Personally I don't understand people saying that goverment is a job creator. In fact, every single person employed by the state costs us a few private jobs! Thinking about the goverment as an employer sounds insane, it is and always was a moneywaster (sometimes smaller, sometimes bigger, but it's still moneywaster), and the money comes from distressed taxpayer, not a goldmine.

Maybe the private sector should become more efficient so they can compete then......

Only the most naive of "fantasy" libertarians believe we should have no government control and everything should be in a complete free market, that has never, and could never exist outside of text books.

You then have to decide how much public spending, and taxation, there should be, and what this money should be spent on.

Personally I feel that the balance between tax and spending cuts needs to be weighted more towards taxation of the mega wealthy and large companies. The richest people have grown massively richer over the last 30 years, trickle down has not worked and the middle has been squeezed.

I don't think the middle and bottom should pay for the mistakes of the elite who are the ones who have benifitted from free money and lax regulation for the last 30 years.

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Labour always strive for a larger state where as Tory's always want a smaller state.

Tory's are just doing what Tory's do. Chill with the blame culture.

I get it nowadays i really do. Labour get in and stay in by giving people what they want, creating masses of public sector jobs where the private sector have known they are not needed, with borrowed money. But it's all investment in services NOT manufacturing that might actually do some good to the economy. When that blows up the tories have to come in and clean up the mess. The labour idiots try to make the tories look like the they are enjoying it, "they did this last time after we ******ed it all up, they just love to cut jobs the nazis." I never was affiliated to one party or another but i'm Tory now. Labour should be locked up but the cycle will go on, in 4 years the idiot voters will be blaming the tories for not spending what we don't have and the lunatics will be back in charge of the asylum.

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I get it nowadays i really do. Labour get in and stay in by giving people what they want, creating masses of public sector jobs where the private sector have known they are not needed, with borrowed money.

The private sector don't compete against the public sector. There are areas where there is a need for a task to be undertaken without a profit to be made.

But it's all investment in services NOT manufacturing that might actually do some good to the economy.

Now this seems confused to me, Labour are not supposed to invest in manufacturing, that is the job of the private sector. Instead they decided to move from high cost western economies to the far east and eastern europe, you could blame Labour for this but a quick look shows it to be a global issue.

When that blows up the tories have to come in and clean up the mess. The labour idiots try to make the tories look like the they are enjoying it, "they did this last time after we ******ed it all up, they just love to cut jobs the nazis."

The Tories supported every Labour spending to commitment until 2009. They called for more deregulation of the mortgage market. Exactly what do you think they would have done differently?

I never was affiliated to one party or another but i'm Tory now. Labour should be locked up but the cycle will go on, in 4 years the idiot voters will be blaming the tories for not spending what we don't have and the lunatics will be back in charge of the asylum.

I can tell you are a Tory - the bitterness and lack of empathy for your fellow man marks you out easily ;)

p.s I've never voted Labour in a general election - far too neoliberal for the likes of me.

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The private sector don't compete against the public sector. There are areas where there is a need for a task to be undertaken without a profit to be made.

Now this seems confused to me, Labour are not supposed to invest in manufacturing, that is the job of the private sector. Instead they decided to move from high cost western economies to the far east and eastern europe, you could blame Labour for this but a quick look shows it to be a global issue.

The Tories supported every Labour spending to commitment until 2009. They called for more deregulation of the mortgage market. Exactly what do you think they would have done differently?

I can tell you are a Tory - the bitterness and lack of empathy for your fellow man marks you out easily ;)

p.s I've never voted Labour in a general election - far too neoliberal for the likes of me.

1. The Public sector DOES compete with the Private sector. By requiring a greater tax take to support it (thereby removing investment capacity from the private sector)

2. Not investment, but they gave large concessions to banking / service industries (to support Browns economic miracle).

3. The Tories supported every Labour spending commitment until 2009, evidence please?

4. And of course socialism always creates empathy between fellow man (more like tribalism).

And before you ask, I'm not a Tory.

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Today will affect everyone even if not immediately apparent.

Isn't it the other side of the same coin?

Everyone benefited from the overspending.

I do find the BBC's obsession amusing. I know its a major event but hells bells other things are going on!

Do we suspect that the BBC contains a lot of leveraged up BTLs married to other public sector workers fearing a triple whammy today?

No job.

No spouse job.

HPC.

Well, chin up chaps - you had a good run and of course you saved like billy oh, didn't you....?

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Well, chin up chaps - you had a good run and of course you saved like billy oh, didn't you....?

This is precisely why anyone who loses their job who has been on 3 x my salary, or even 2 x my salary for several years, will get any tea and sympathy from me. They should have plenty of reserves for a rainy day.

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Even if cuts do affect you personally it could sometimes be a blessing in disguise. I was speaking to my friend last night who's praying for voluntary redundancies. He'll stand to get about 1yrs salary tax free so said he'll be at the front of the queue. He said he'll pay off the remainder of his mortgage then find another job (easy in his field) he could effectivly live on about £500 per month which is probably about 1/5 of his current take home pay so ANY job would suffice.

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Rather than slag everyone off, why not think about the underlying structural inequalities in our economy which have contributed to the situation we are in today.

21 percent of the net wealth of this country is owned by 1 percent of the adult population.

53 percent is owned by the top 10 percent.

By the time you reach the 50th percentile of adult population 93 percent of total wealth has been allocated. That means 50 percent of the adult population have less than 7 percent of the total wealth of this country.

This level of inequality is a constant throughout our history. There is a small elite, a slightly expanded middle mass to serve it, and the vast peasantry.

It would be in the majority interest to act against the elite interest, the majority having little to lose (but their chains), however, most people side overwhelmingly with their masters especially when it's expressed as being for the national interest. For national read elite.

Will this ever change?

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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