Tuesday, June 24, 2008

What about their huge 100%, 25 year mortgages?

City bosses 'ready to cut 440,000 jobs' as economic slowdown hits bank profits

''...Employers are preparing to cut hundreds of thousands of jobs as the economic slowdown hits their profits, two studies show. One found that up to 440,000 workers could be made redundant in the next two years as bosses try to contain salary costs. ...''

Posted by hpwatcher @ 10:13 AM (958 views)
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7 thoughts on “What about their huge 100%, 25 year mortgages?

  • mark wadsworth says:

    IF gummint seriously wanted to boost employment, it should scrap Employer’s National Insurance (even if they’d have to raise corporation tax slightly to align it with basic rate of tax plus Employee’s NI, i.e. 31%)

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  • Sure this is gonna be good for the rental market…. My Azzetz!

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  • Landedgentry says:

    Hey we can get video clips of Alan sugar pointing his finger and saying those immortal words sent by sms to all 440,000, that would boost the profits of the mobile phone companies and sure up the economy?

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  • Terrifying figures… what are they all going to do.. sell apples?

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  • Mark,

    If I were chancellor, I would love to get rid of the pretence that NI is somehow different to income tax – maybe merge the two and call it Earnings Tax.

    ~~~

    The government is very limited by it’s lack of funds. Aside from the current budget deficit, the knock-on from reduced tax receipts and rising benefit claims will be huge.

    There is every prospect of the government running a deficit of well over £100bn pa – enough to leave them short of takers for Gilts, leading to higher yields and interest rates.

    The downturn will field on itself…

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  • Check out the comments section of the same story on ‘This is Money’, one reads:

    ‘Well, according to the tinfoil hatted loons over at Housepricecrash, the City of London has already sacked about 1.2 million workers and the revolution led by great men such as they is only about a month away.’

    – David, Croydon

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  • japanese uncle says:

    As I mentioned far earlier, raging unemployment will encourage people to do flat-sharing and bed-sitting as they will no longer be able to afford to rent on his/her own. The result is so obvious. Rental demand will shrink sizably, leading to rent deflation. Welcome back to the 1970’s and 80’s.

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