Alistair Darling admits post election spending cuts worse than the 80s

[fullyautomatix]

No one has any idea of the problem. We are nowhere near anything like the three day week. They're would probably be social meltdown well before that. Imagine the current generation putting up with lights out at 10pm. Dear Britannia needs a right good kick up the arse.

A social unrest might just be the medicine this country needs.

The current generation have had it too easy courtesy the biggest debt bubble for a generation.

[centurian]

Definately the most honest chancellor we've had in the past decade...

[The_Equalizer]

Definately the most honest chancellor we've had in the past decade...

Very good!

[The_Equalizer]

Retraction:

Bugger, we really are skint.

[Pickle2]

And what do you think happens if, as you suggest, we decrease our imports? If devaluing were as good as you say, we'd be forever at it. Just print money. And of course agencies lending us vast amounts of money won't be too keen on being paid a low interest rate on a weakening currency. At some stage the risk must be that a slide backed up with smoke and mirrors and tough talk, turns into an avalanche.

Hey, I didnt say it was particularly good, but is perhapsthe best worst option on the table right now. Everyone is chasing a competitive devaluation.

[OwlHoot]

Imagine the current generation putting up with lights out at 10pm. ..

In the '70s, the last time there were regular power cuts, the National Grid was still using beautifully made and over-engineered high-voltage parts from the 30s with a lifetime of 60 years or more.

But over the last ten years or so, many of these have been replaced by cheap tacky parts with a much shorter lifetime and less robustness to withstand repeated power cuts.

So these days if the lights start going off regularly, one of those times they may just stay off for days or even weeks, while the gear has to be replaced.

[TimberWolf]

It's not as if we are in a good position to borrow our way out of the coming worst part of the recession either

[threaded]

In the '70s, the last time there were regular power cuts, the National Grid was still using beautifully made and over-engineered high-voltage parts from the 30s with a lifetime of 60 years or more.

But over the last ten years or so, many of these have been replaced by cheap tacky parts with a much shorter lifetime and less robustness to withstand repeated power cuts.

So these days if the lights start going off regularly, one of those times they may just stay off for days or even weeks, while the gear has to be replaced.

Correct. You've even witnessed it over the winter. In some outlying areas the reason the power didn't come back on for days was because they had to replace entire runs, and the switch-gear. I heard one place tripped so many times the station ran out of SF6 and the managers kept telling the the Engineers to switch it back on, threatening one with a P45. That'll have cost...

[The_Equalizer]

My Uncle buys and reconditions switchgear. It mostly gets sent out to India and the like. He mentioned only a couple of weeks ago that both the buildings and the switchgear housed in them are far better built than their replacements.

[Mich the Tester]

Britain is on the brink of losing its triple A credit rating.

By talking "tough" it keeps the credit rating agencies quiet (for now).

Indeed Mr DP, but there are many millions of voters who have no idea what the consequences are if a country loses that triple A rating and don't understand why their jobs will be on the line when it happens.