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If You thought the Recession
Was Hard
You might have thought the recession was quite hard, think
again. There is a lot more to come, with companies
following the government’s lead of Slash and Burn. Already
a lot of supermarkets have put up their prices as they did
in the recession. The fear of customers spending less has
prompted price increases to generate extra profits. Fuel has
gone up since the Emergency Budget, which will further increase
prices.
600,000 public sector jobs are to go
under the Coalition, some of these jobs
will be filled by recruiting new, lower grade staff,
and promoting them more slowly. At the
same time it is expected increase of 2.5million extra jobs
being created, with 1.95 million in the Private Sector.
According to Channel
4 News A leaked Treasury document
today suggested 1.3 million jobs will be lost as a result
of the budget, by 2014/15. The Office of National Statistics
showed an increase in the jobless total of 281,000 in the
last 3 months, giving a total figure of people out of work
at 2.38 million
Research by the Oxford Economics consultancy
this month shows that 2.3m private sector jobs were dependent
on state contracts in areas like IT, defence and hospitals.
As public spending falls, those employees are in jeopardy.
Harriet Harmen the acting labour Leader
attacked David Cameron over the leaked Treasury Document
Cameron later said: "You don't
seem to understand. Unemployment is going to be falling during
this Parliament. We've published the
full figures. But it's not now us publishing the figures.
It's the OBR."[I think that’s called
Passing the Buck]”
The head of the OBR, [Office of Budget
Responsibility] Sir Alan Budd is to step down to enjoy his
retirement, Reuters reported. [I
suspect there will be more to come on this story]
We could be following in Ireland’s footsteps as they
introduced their Austerity Package, with high inflation and
25% unemployed in Ireland, record house repossessions, and
many companies struggling to fight off bankruptcy. And we
still have the possibility of the debt crisis in the Euro
Zone countries impacting on our economy, and our banking system.
As I said, “You might have thought
the recession was quite hard, think again.”
Vic
Farron RFT
Express. .
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