We're in a recession!!!!

[Dow Jones]

The worst thing about this (coming) recession is that it will mainly affect the financial sector that has been so far the driving engine of the boom in IT contracting.
If companies can't make profits, then there is no pot for re-investment in new projects.
It will all be BAU and this will be taken care by the permie staff. Contractors are normally used in one-off situations.
Anyone earning more than £ 500 p/d will be in the firing line to take the first shots. Justifiable or not, if the costs start mounting, then the axe may fall. Anyone else that is assigned to a non-critical or iconic or whatever-else-is-called project is next.
There will be blood....

[Cyberman]

We are not in a recession yet, as we have not had two consecutive quarters of negative growth.

I have noticed that we always get a mass of negative forecasts every month just as we are coming up to a meeting of the 'independent' interest-rate setting board!!!!

Government pressure for a rate cut via the media perhaps ??? Oh, I am such a cynic !!!


Expect a rate cut very soon folks !!!

[DiscoStu]

We are not in a recession yet, as we have not had two consecutive quarters of negative growth.

I have noticed that we always get a mass of negative forecasts every month just as we are coming up to a meeting of the 'independent' interest-rate setting board!!!!

Government pressure for a rate cut via the media perhaps ??? Oh, I am such a cynic !!!


Expect a rate cut very soon folks !!!

Doubt it, the feeling would seem to be that we're headed for a recession whether rates are cut or not, so we might as well make an effort to try and get inflation under control for when the inevitable happens.

[gingerjedi]

Government pressure for a rate cut via the media perhaps ??? Oh, I am such a cynic !!!


Expect a rate cut very soon folks !!!

I'm already earning 30% less and travelling 100% further than this time last year... it's going to get worse??

[BoredBloke]

I hate that term negative growth. Notice how we never had negative decline for the past 15 years or so.

[HairyArsedBloke]

It is impossible for the UK economy to be in recession – we have a Labour government.

[TheBigYinJames]

I'm already earning 30% less and travelling 100% further than this time last year... it's going to get worse??

Start worrying when you're earning 100% less and travelling 0% as much.

[Cyberman]

Doubt it, the feeling would seem to be that we're headed for a recession whether rates are cut or not, so we might as well make an effort to try and get inflation under control for when the inevitable happens.

Oil and food prices are governed in the main by worldwide factors and thus raising interest rates will make zero difference except possibly through a stronger pound.
If the government was serious it would reduce duty on fuel as the Tories have suggested, and this would have a definite positive impact by reducing transportation costs thereby reducing costs of goods in the shops.
It would also put some money back into people's pockets to enable them to pay their inflated mortgages etc. Too sensible though, isn't it ??!!

[DiscoStu]

Oil and food prices are governed in the main by worldwide factors and thus raising interest rates will make zero difference except possibly through a stronger pound.
If the government was serious it would reduce duty on fuel as the Tories have suggested, and this would have a definite positive impact by reducing transportation costs thereby reducing costs of goods in the shops.
It would also put some money back into people's pockets to enable them to pay their inflated mortgages etc. Too sensible though, isn't it ??!!

It would probably have been possible too if they hadn't wasted so much cash on growing the now bloated public sector so much over the last 10 years.

[TheBigYinJames]

It would also put some money back into people's pockets to enable them to pay their inflated mortgages etc. Too sensible though, isn't it ??!!

Cutting fuel duty takes money away from Govt coffers now, whereas it would boost the economy with a time lag. They have schemes to make you eat rotten veg to pay for,