£6 billion spending cuts to be announced today

[DieScum]

It is going to hurt and hurt a LOT.

I'm not sure it will tbh. I think public sector cuts will just be the stuff that the private sector has been doing for the past two years. No yearly rise, hiring freeze, travel freeze, perhaps a round of redundancies. Not fun... but no worse than working in the private sector and ultimately very healthy for the economy.

[fullyautomatix]

Does this mean Brown was right?!

Mate, if he was ever right, we would not be in this tulip.

HTH

[AtW]

"10.35am: Mr Osborne is asked whether he was surprised how easy it was to find the savings. He says they were helped by "incredibly talented and hard-working" Treasury officials and other civil servants. "If you have leadership you can get on with this," he says."



From ze Times.

[TimberWolf]

"10.35am: Mr Osborne is asked whether he was surprised how easy it was to find the savings. He says they were helped by "incredibly talented and hard-working" Treasury officials and other civil servants. "If you have leadership you can get on with this," he says."



From ze Times.

Did the last lot get sacked then?

[TimberWolf]

Looks like the bulk (£2 billion) is coming from savings in "IT programmes, suppliers and property". Is this mainly going to affect Bob, or are there some here going to be or already affected?

[Doggy Styles]

£6 billion is about the interest we pay on the deficit (never mind on the debt) isn't it? (£160 billion * 4%). Doomed.

That's just the EXTRA interest that we'll be paying this year. Although I thought it was higher than 4%.

The point is, we are paying nearly £50 billion a year in interest on our total borrowings.

[TimberWolf]

That's just the EXTRA interest that we'll be paying this year. Although I thought it was higher than 4%.

The point is, we are paying nearly £50 billion a year in interest on our total borrowings.

I was only guessing 4%. It will be 'interesting' to see whether it goes up.

[fullyautomatix]

Looks like the bulk (£2 billion) is coming from savings in "IT programmes, suppliers and property". Is this mainly going to affect Bob, or are there some here going to be or already affected?

Accenture, Logica and other gravy train free loaders.

[TimberWolf]

Accenture, Logica and other gravy train free loaders.

Hands on the ground staff being Bob then mainly?

[swamp]

Hands on the ground staff being Bob then mainly?

Not too many Bobs because most of it will be SC/DV work.

Glad I moved out of that sector. Those of you on the bench will need to budge right up. May even need an extra bench.