Austerity is not just for Christmas

[TimberWolf]

Sales soar at Primark as recession-hit shoppers hit cheaper chains instead of M&S | Mail Online

Poundland profits up 27% as squeezed shoppers try to save money | Business | The Guardian

Aldi beats M&S and Waitrose

Boomed.

[Old Greg]

Easy way out. Take all the QE and put it into tax cuts. Sorted.

The important thing is that we punish selfish savers with high inflation and low interest rates.

[BrilloPad]

Easy way out. Take all the QE and put it into tax cuts. Sorted.

[TimberWolf]

Yeah, it seems to be starting now. When do the riots and civil unrest start?

[AtW]

... it's for life!

"Britain's age of austerity will last much longer than first thought if the UK is to keep up with the escalating costs of an ageing population, the government's independent economic forecaster has said.

In its annual check, the Office for Budget Responsibility said Britain's public finances were "clearly unsustainable" over the next 50 years, despite George Osborne's round of spending cuts.

Even if the government succeeded in saving £123bn over the next seven years, the OBR said it would need to impose permanent tax increases or reduce spending by 1.1% of GDP – about £17bn in today's terms – to return the national debt to pre-crisis levels."

UK austerity set to last decades as cost of ageing population rises | Business | guardian.co.uk

My comment -