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Institute Of Directors Issue Warning

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Institute of Directors warns Government not to 'wobble' on austerity measures

wobbly

A leading business group has warned that the financial recovery is at risk from a "wobble" within the Coalition on implementing the Spending Review.

The Institute of Directors (IoD) has argued that although the Government's austerity measures are vital, the Chancellor's ability to implement them could be derailed by "Whitehall inertia and lobbying from the public sector".

In a paper entitled "Don't go wobbly, George", the trade body said: "There is a growing danger that if part of the Coalition is already wobbling on a politically sensitive issue like university tuition fees, it might wobble even more on what is a much bigger fiscal issue, not least because political opposition to deficit reduction has yet to reach fever pitch."

The IoD warned that the markets are volatile and that "any indication of retreat from the Spending Review will be pounced upon".

This Government never woobles. When Europe demanded huge sums of tax payers cash, we just handed it over.

What is the IoD on about?

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we only need the "markets" ( thats debt markets) when we need to buy more debt.

the IOD is right.

get rid of the deficit.....this means £150bn in cuts...TODAY.

then the markets can go hang...the markets could invest in the UK rather than leach off it.

Id start by cutting 50% off the salaries and pensions of public sector workers above 25K. Indeed, any Public sector pensioner getting more than 25K shouldnt be.

Thousands are getting above average wage for their pension.

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we only need the "markets" ( thats debt markets) when we need to buy more debt.

the IOD is right.

get rid of the deficit.....this means £150bn in cuts...TODAY.

then the markets can go hang...the markets could invest in the UK rather than leach off it.

Id start by cutting 50% off the salaries and pensions of public sector workers above 25K. Indeed, any Public sector pensioner getting more than 25K shouldnt be.

Thousands are getting above average wage for their pension.

Too right.

The pension ponzi scheme is not sustainable. It will kill us all.

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Id start by cutting 50% off the salaries and pensions of public sector workers above 25K. Indeed, any Public sector pensioner getting more than 25K shouldnt be.

That and have a cap on maximum salaries, even the heads of dept shouldn't be earning more than the PM

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Id start by cutting 50% off the salaries and pensions of public sector workers above 25K. Indeed, any Public sector pensioner getting more than 25K shouldnt be.

Don't agree with cutting the salaries of all in the public sector in such a draconian way, it would need to be considered on a case by case basis, for instance I don't think anyone working for £50k a year in the civil service would leave if it were cut to £40k but you would see doctors going if cut from £100k to £60k.

On pensions I completely agree - my dad gets £21k a year in pension from his 39 years as a teacher - more than some actual teachers get.

My aunt retired at 57 and gets over £30k a year in pension after being a headteacher for the last few years of her career.

My sister has worked for the civil service for about 12 years - she has a noncontributary final salary scheme. She earns £60k for a classic non-job and could theoretically retire on the equivilant of £40k a year at the age of 61.

Capping them at £20k would not cause any of them any hardship, people can easily live on the state pension.

Why does any 80 year old need a £40k a year pension coming in?

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Don't agree with cutting the salaries of all in the public sector in such a draconian way, it would need to be considered on a case by case basis, for instance I don't think anyone working for £50k a year in the civil service would leave if it were cut to £40k but you would see doctors going if cut from £100k to £60k.

On pensions I completely agree - my dad gets £21k a year in pension from his 39 years as a teacher - more than some actual teachers get.

My aunt retired at 57 and gets over £30k a year in pension after being a headteacher for the last few years of her career.

My sister has worked for the civil service for about 12 years - she has a noncontributary final salary scheme. She earns £60k for a classic non-job and could theoretically retire on the equivilant of £40k a year at the age of 61.

Capping them at £20k would not cause any of them any hardship, people can easily live on the state pension.

Why does any 80 year old need a £40k a year pension coming in?

Where exactly would the doctors go?

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Don't agree with cutting the salaries of all in the public sector in such a draconian way, it would need to be considered on a case by case basis, for instance I don't think anyone working for £50k a year in the civil service would leave if it were cut to £40k but you would see doctors going if cut from £100k to £60k.

On pensions I completely agree - my dad gets £21k a year in pension from his 39 years as a teacher - more than some actual teachers get.

My aunt retired at 57 and gets over £30k a year in pension after being a headteacher for the last few years of her career.

My sister has worked for the civil service for about 12 years - she has a noncontributary final salary scheme. She earns £60k for a classic non-job and could theoretically retire on the equivilant of £40k a year at the age of 61.

Capping them at £20k would not cause any of them any hardship, people can easily live on the state pension.

Why does any 80 year old need a £40k a year pension coming in?

Can't really see why doctors get paid so much. It's not a particularly demanding job, but just high status.

They only have a BSc, like most of us. The real doctors have PhD's. The medics stole the title.

I'd cut their pay in half and recruit a 1/3 rd more. I'd also open up the other medical workers to do more of the doctors work.

The NHS is a status driven organisation, full of big ego's that make the wrong decisions. You should see a meeting full of doctors! They all fight to be right, not to make the most appropriate outcome.

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I believe that Spain trained too many doctors, we know a few good ones who came here. they don't get laid so well in Spain now, but their hours are not too bad

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Can't really see why doctors get paid so much. It's not a particularly demanding job, but just high status.

They only have a BSc, like most of us. The real doctors have PhD's. The medics stole the title.

I'd cut their pay in half and recruit a 1/3 rd more. I'd also open up the other medical workers to do more of the doctors work.

The NHS is a status driven organisation, full of big ego's that make the wrong decisions. You should see a meeting full of doctors! They all fight to be right, not to make the most appropriate outcome.

I agree doctors are paid too much compared to other health worker. The basic consultant pay scale is 70k to 110k and it takes about 20 years to get to the top. This is defendable but the Merit Award scheme is a joke and can add a permanent £25k on top. It gets 'applied for' but if you don't get it one year you just keep applying. It should be abolished tomorrow. Meanwhile there is a national shortage of radiographers and we are importing them from Canada and elsewhere. Stupid system.

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I believe that Spain trained too many doctors, we know a few good ones who came here. they don't get laid so well in Spain now, but their hours are not too bad

Well us Brits are still world class in some areas B)

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Australia.

Australia population 22m, 55k doctors

UK population 62m, 136k doctors

Australia already has doctors, and immigration controls which protect home-grown labour.

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Id start by cutting 50% off the salaries and pensions of public sector workers above 25K. Indeed, any Public sector pensioner getting more than 25K shouldnt be.

Thousands are getting above average wage for their pension.

What planet are you on?

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we only need the "markets" ( thats debt markets) when we need to buy more debt.

the IOD is right.

get rid of the deficit.....this means £150bn in cuts...TODAY.

then the markets can go hang...the markets could invest in the UK rather than leach off it.

Id start by cutting 50% off the salaries and pensions of public sector workers above 25K. Indeed, any Public sector pensioner getting more than 25K shouldnt be.

Thousands are getting above average wage for their pension.

Rollback - higher the pay rise since 1999 higher the pay cut. Retrieve any pension payments as well.

The only other alternative is to keep printing money so everyone has to pay to protect those high salaries until the ponzi scheme finally collapses.

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What planet are you on?

It's known as earth Mr Miyagi. Where politicians demand that school children are taught basic sums to get themselves elected, without being able to do any themselves.

£160bn deficit apparently, how would you choose to fill the gap? Or dont you think we need to bring things into balance?

Bloo Loo has a suggestion, one that would probably do what needs to be done to avert a bond crisis of our own in the UK.

The thing is, any solution to this problem is going to appear like madness to those who cannot do their sums. Meanwhile, we go on building up more debt, waiting for that moment when bondholders realise they wont get repaid, and stop lending the UK more money. When that happens, the UK either prints its way to hyper-inflation, or it balances its budget, immediately. If it does the latter, and no more loans would be forthcoming, and huge interest and capital repayments have to be made, public expenditure cuts will be far more savage than the the somewhat modest proposals Bloo Loo is advocating.

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The pension ponzi scheme is not sustainable. It will kill us all.

Hence the reason why the government has been stuffing the country with young immigrants of child bearing capacity; to lower median age and support the government pension ponzi for another decade or two.

Once the UK population reaches 150 million (2 sq metre per UK inhabitant) the future will be utterly catastrophic but by then your politicians will be sunning in Greece or 6 feet under so it won't matter any more.

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IOD in favour of tax rises on the wealthy.

That's a refreshing change.

Come on Osborne, you can close that deficit.

Don't wobble - taxy taxy! Simples.

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IOD in favour of tax rises on the wealthy.

That's a refreshing change.

Come on Osborne, you can close that deficit.

Don't wobble - taxy taxy! Simples.

$45 trillion in debts; $39 trillion known to be – and never mind the rest – in private hands. Have we really cracked this taxation thing?

http://www.heraldscotland.com/comment/ian-bell/why-don-t-we-tax-the-rich-1.1069738

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What I do not think is fair is why should a working person who can't afford to save towards their own decent guaranteed pension have to pay for someone else's pension.

All pensions apart from the basic state pension should be the responsibility and be paid for independently by the individual from their income.......all working people should be treated the same with the same lifestyle benefits....certain people are not more worthy than others who do similar worthwhile work. ;)

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Can't really see why doctors get paid so much. It's not a particularly demanding job, but just high status.

They only have a BSc, like most of us. The real doctors have PhD's. The medics stole the title.

I'd cut their pay in half and recruit a 1/3 rd more. I'd also open up the other medical workers to do more of the doctors work.

The NHS is a status driven organisation, full of big ego's that make the wrong decisions. You should see a meeting full of doctors! They all fight to be right, not to make the most appropriate outcome.

Of course it's a demanding job, what could be more demanding fool!

Less pay, more doctors / nurse practitioners etc. I agree. The hours are insane. I'm not talking about GP's here.

Not my impression of medics on the whole. There are arrogant clowns in all walks of life and I suspect you are one of them.

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Er wouldn't that solve the problem?

A one off tax on the supa rich that became 4x wealthier over the last 10yrs whilst taking advantage of thick, trinket led plebs would easily wipe off our debts in one go and even the wealth pyramid out.

2 birds, one stone.

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  • 276 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% +
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      • Even
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      • up 5%



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