Sunday, Dec 27, 2009

Add IR rise, and there will be a lot of people struggling with their mortgage

Telegraph: Millions face new pay freeze in 2010

Millions of people face a second year of pay freezes or salary cuts next year, dashing hopes that the end of the recession will ease the squeeze on family budgets.
Up to two-thirds of companies in the private sector plan to freeze or cut pay next year — a substantial increase compared with this year.
The grim forecast, at a time when prices are expected to rise significantly during the new year, has enraged union leaders and brought threats of a series of strikes if workers see their spending power slashed for the second year running.
It also brings home how the pain of the recession will continue to be felt with households facing higher taxes as well as higher prices.

Posted by waitingtobuy @ 11:50 AM (1422 views)
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1. crunchy said...

I call that inverted inflation. This coupled with the true inflation I have spoken of will cripple enough people financially so as to bring about a new system with total ease. One has to destroy an existing system to make way for a new one. Pure logic, nothing more than 'problem, reaction, solution.' The age old formula that is dressed up as democracy for fools.

The true theft is yet to come. Please prepare yourselves. Ones survival instincts 'should' override ones stupidity.

Sunday, December 27, 2009 02:24PM Report Comment

2. mr g said...

Unions said the state of the economy should not be used as an “excuse” to impose pay freezes by companies continuing to make profits.

Derek Simpson, joint general secretary of Unite, the biggest trade union with 2m members, said: “Our members have been prepared to share the pain and take pay freezes this year. But we will challenge any attempt to freeze pay in companies that are making profits next year.”

Aslef, the train drivers’ union, said it has learnt that train companies are looking to close final salary pension schemes to new members.

Simon Weller, Aslef’s national organiser, said: “We expect the possible closure of the rail pension scheme to be one of the major battlegrounds of 2010. Any firm that looks to do so or freeze pay would be very foolish — they cannot be interested in running many trains.”

Yet again the unions like their puppets, ZanuLiebour, show themselves to be still living in the 1970's, completely out of touch with the realities of the economic situation and ready to hold the majority of ordinary people to ransom in pursuit of their own agendas.

No difference between them and the parasites in the City.

Sunday, December 27, 2009 06:16PM Report Comment

3. fallingbuzzard said...

The big difference being that the City has power over the government but the unions don't. They really did in the 1970s before Maggie changed the laws. The new unionised sector is investment banking.

Sunday, December 27, 2009 07:12PM Report Comment

4. alan said...

Interesting article.
My guess is: the people it applies to have just been out to the sales buying £2bn worth of stuff that they probably didn't need.

Are people are out of touch with what is going on in the economic world because the truth has been hidden from them or because they really couldn't care less and prefer consumerism in all its glory? Maybe a bit of both?

As Britain declines as a world power, then realities need to be faced. Last year (08) we sold off Jaguar and Land Rover to the Indians. Over time the parts suppliers to Volvo have closed as production moved to cheaper places. The workers were placed on the dole or took jobs collecting supermarket trolleys in the Asda car park. The UK has nothing left! Nobody to pay (or PAYE) the government's bills!

Therefore we can't afford the nice final salary pension schemes at the County Council, Transport for London etc. How can this best be explained to those who work there? I don't know, but it is going to hurt the public sector workers in 2010 just as it hurt the private sector workers over the past decade.

Sunday, December 27, 2009 07:21PM Report Comment

5. Charlie White said...

Working people of all stripes are forced to take pay cuts, while the banksters award themselves record-busting humungous bonuses -- largely funded by taxpayer bailouts. How nice for us.

Sunday, December 27, 2009 08:45PM Report Comment

6. This comment has been removed as it was found to be in breach of our Blog Policies.


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