Middle-income Britain is in state of emergency, says Nick Clegg

[TimberWolf]

Britain has the advantage of a floating currency.

AtW might argue that a stable currency is better than one that 'floats' (sinks more like).

[BrilloPad]

So I guess the Spanish economy is doing better than the British one?

Britain has the advantage of a floating currency.

[The Spartan]

Last time I was in Spain I went shopping with my partner, and she noticed how many of the clothes on sale were actually made in Spain, compared to back home where everything is made in China or the Philippines or another usu. Asian usu. 3rd world country.

So I guess the Spanish economy is doing better than the British one?

Or could it be that importing cheaper goods is actually good for the economy overall, no matter how bad it might be for individual workers?
And might that apply to IT services too?

I suppose that at least if we keep buying it helps the economy, but would say it's probably not great for workers. Still with a weak pound it makes it more expensive to buy the raw materials for manufacturing so how do poorer countries manage it if their currencies are a lot lower than the pound for instance?

[BlasterBates]

George Bush put on tariffs on steel to protect American jobs. However that meant that the price of steel in the US rocketed and all the exporters of products that used steel couldn't compete any more. The tariffs were then rescinded because they would have cost 5 times the number of jobs they would have saved.

[Ignis Fatuus]

It's a real shame that we have to buy so many imported goods, it's decimated the manufacturing sector and over the years we just haven't been able to compete with other countries.

Last time I was in Spain I went shopping with my partner, and she noticed how many of the clothes on sale were actually made in Spain, compared to back home where everything is made in China or the Philippines or another usu. Asian usu. 3rd world country.

So I guess the Spanish economy is doing better than the British one?

Or could it be that importing cheaper goods is actually good for the economy overall, no matter how bad it might be for individual workers?
And might that apply to IT services too?

[The Spartan]

It's a real shame that we have to buy so many imported goods, it's decimated the manufacturing sector and over the years we just haven't been able to compete with other countries.

[wobbegong]

If low/middle income families are doing so badly then why are the roads always packed? Cigarette/Drink sales seem fair stable as well. And mobile phone providers seem unaffected.

As usual I guess rather than just cut back on the above they will stop feeding their children.

That's just good parenting, it teaches them survival skills while at the same time hammering home the message the the 'the world doesn't owe them a living'.

Them chimneys ain't gonna sweep themselves.

[BrilloPad]

Middle-income Britain is in state of emergency, says Nick Clegg | Politics | The Guardian

Clegg really has got this wrong. What is needed is business tax cuts to generate jobs. Personal tax cuts will just go into buying more imported goods.

If low/middle income families are doing so badly then why are the roads always packed? Cigarette/Drink sales seem fair stable as well. And mobile phone providers seem unaffected.

As usual I guess rather than just cut back on the above they will stop feeding their children.