Sunday Times article on UK economy

[Fungus]

Doomed, doomed, we'll all doomed.

There is a big article in today's Sunday Times about the UK economy. Unemployment has been going up every month for a year, taxation is increasing to German levels, public spending is going up massively, mainly due to salaries. Productivity has barely increased. Head teachers and GPs are now on ~£100K. The public sector wage increases are straining the state's purse and putting pressure on private sector jobs, making us less competitive. Much of the job creation over the last few years has been in the public sector.

Part of the reason for unemployment increasing is that employers prefer to hire migrant workers, according to the ST.

But now the boom is over. Consumer spending has slowed. Public sector job creation has slowed. We are becoming (?) sclerotic, like other European countries, pandering to Socialist idealism, and ignoring reality.

The article is very damning.

[DimPrawn]

The solution is to raise taxes.

G. Brown,

Westminster
UK

[Gunnery Sergeant Highway]

Just give us your fookin money.

HM Treasury

[hyperD]

26% of Council tax is used to support the pensions of public sector workers at the expense of public services.

Startling new figures - provided by a Government advisers on pensions - show that about £5 billion a year from council tax in England is used to fund the pensions of town hall staff, police, teachers and firefighters.

"new" Liebour at it's best.

[Gunnery Sergeant Highway]

To be fair, although the scenario is different now, for all those town half staff of yesteryear that was the widely known and accepted deal. You got paid fook all while you were "working" but in return, if you could stick your 30 years, you got a cracking pension. That was the excuse many consecutive governments, including Tory ones, used to justify low town hall pay and to pass the problem onto the next generation.

Of course, we are looking at a different problem now for the next generation, where public sector workers are getting good pay and and a gold plated pension. As with all these problems though, GB doesn't care because by the time it becomes a major problem he will be retired anyway and in the meantime it keeps all those workers voting the right way.

As responsible analysts said at the time, it's no use just pouring money into unreformed services as it will come back and bite you on the bum, but GB thought he knew better.

[Gibbon]

There seems to be a misunderstanding that the Public Service pensions are free and taht every one gets a huge salary as well. Not True.

My other half works for leeds social services and has to manage 400 + staff and deal daily with problems with learning and physically disabled vunerable people. Adult protection and violent incidents are a daily occurence. All for 34K. She pays £300 a month towards her pension which after 40 years service mounts up to a lot of money.

[milanbenes]

no this is the point

the council tax contributions are filling the hole caused by wrongly investing the contributions of your Mrs and others during the .com times and now council tax is making up the difference - nice

Milan.

[Bovvered]

There seems to be a misunderstanding that the Public Service pensions are free and taht every one gets a huge salary as well. Not True.

My other half works for leeds social services and has to manage 400 + staff and deal daily with problems with learning and physically disabled vunerable people. Adult protection and violent incidents are a daily occurence. All for 34K. She pays £300 a month towards her pension which after 40 years service mounts up to a lot of money.

I would have thought that up North as fat as Leeds, 34K is a pretty respectable salary?

[Gibbon]

There is no investment. The other halfs pension contributions are on paper only. That is the problem, if they invested just her contribution of 300 a month on a return of 5% for 40 years she would have aprox £450K. More than enough for her pension. They are now fooked because these people have paid in and they can't afford to pay them out even their own contributions.

[Gunnery Sergeant Highway]

And don't forget that £300 was given to your missus by the taxpayer as well, so it's all a big money-go-round anyway.