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	<title>Comments on: More economic pain</title>
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	<description>Incisive and topical campaigns and commentary on today&#039;s issues and tomorrow&#039;s problems</description>
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		<title>By: mikestallard</title>
		<link>http://johnredwoodsdiary.com/2008/07/16/more-economic-pain/#comment-4740</link>
		<dc:creator>mikestallard</dc:creator>
		<pubDate>Wed, 16 Jul 2008 16:38:14 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=1187#comment-4740</guid>
		<description>&quot;Its performance has been a bit like a drunk trying to walk in a straight line along the money motorway, whilst trying to avoid the fast moving vehicles of inflation and recession.&quot; - classic! 
 
I think myself it must be a question of whom you trust to run/ruin the economy. 
Gordon is a busted flush. 
Cameron and the Conservatives seem to me to look right. They aren&#039;t overselling and they are keeping cool. It is going to be a crisis when they take over. 
 
That excellent website above is quite surprising in that it really does show that (disastrously) the NuLabs have been throwing a lot more money at the Public services year by year. Suddenly threatening to slash it is going to cost them the election. </description>
		<content:encoded><![CDATA[<p>&quot;Its performance has been a bit like a drunk trying to walk in a straight line along the money motorway, whilst trying to avoid the fast moving vehicles of inflation and recession.&quot; &#8211; classic! </p>
<p>I think myself it must be a question of whom you trust to run/ruin the economy.<br />
Gordon is a busted flush.<br />
Cameron and the Conservatives seem to me to look right. They aren&#039;t overselling and they are keeping cool. It is going to be a crisis when they take over. </p>
<p>That excellent website above is quite surprising in that it really does show that (disastrously) the NuLabs have been throwing a lot more money at the Public services year by year. Suddenly threatening to slash it is going to cost them the election. </p>
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		<title>By: adam</title>
		<link>http://johnredwoodsdiary.com/2008/07/16/more-economic-pain/#comment-4739</link>
		<dc:creator>adam</dc:creator>
		<pubDate>Wed, 16 Jul 2008 12:47:52 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=1187#comment-4739</guid>
		<description>Why do the tories through IDS on the daily politics support this ridiculous labour nonsense that public sector pay needs to be below inflation in order to fight inflation. 
What a lot of rot. 
GOVERNMENT TAXES THE MONEY OFF THE PEOPLE and according to the fake budget all the money is allocated for spending anyway, so it will end up back in the economy. 
 
If governmnt cut dep. budgets, non jobs and consultants they could afford sensible pay offers. </description>
		<content:encoded><![CDATA[<p>Why do the tories through IDS on the daily politics support this ridiculous labour nonsense that public sector pay needs to be below inflation in order to fight inflation.<br />
What a lot of rot.<br />
GOVERNMENT TAXES THE MONEY OFF THE PEOPLE and according to the fake budget all the money is allocated for spending anyway, so it will end up back in the economy. </p>
<p>If governmnt cut dep. budgets, non jobs and consultants they could afford sensible pay offers. </p>
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		<title>By: adam</title>
		<link>http://johnredwoodsdiary.com/2008/07/16/more-economic-pain/#comment-4738</link>
		<dc:creator>adam</dc:creator>
		<pubDate>Wed, 16 Jul 2008 12:21:31 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=1187#comment-4738</guid>
		<description>&quot;employment in this country is at its highest level ever&quot; GB 
 
HA. 
Maybe according to Zanu Labour traktor production statistics. 
 
Along with 13000 migrants from europe, fake nhs waiting lists, 2% inflation and comments from the paranoid delusions of the fabian society that feral youths dont exist and are an invention of the nasty tory toffs at the Daily Mail as part of a class war. 
 
8 million r on benefits. when will the government admit this. </description>
		<content:encoded><![CDATA[<p>&quot;employment in this country is at its highest level ever&quot; GB </p>
<p>HA.<br />
Maybe according to Zanu Labour traktor production statistics. </p>
<p>Along with 13000 migrants from europe, fake nhs waiting lists, 2% inflation and comments from the paranoid delusions of the fabian society that feral youths dont exist and are an invention of the nasty tory toffs at the Daily Mail as part of a class war. </p>
<p>8 million r on benefits. when will the government admit this. </p>
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		<title>By: Neil Craig</title>
		<link>http://johnredwoodsdiary.com/2008/07/16/more-economic-pain/#comment-4737</link>
		<dc:creator>Neil Craig</dc:creator>
		<pubDate>Wed, 16 Jul 2008 11:29:35 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=1187#comment-4737</guid>
		<description>When Mervin Peake writes his statutory letter about inflation to the Chancellor (&amp; PM)  he should say that the only alternatives are higher interest rates or lower government borrowing &amp; that if the government doesn&#039;t make serious spending cuts the Bank will have a legal duty to produce a significant interest rate rise. 
 
It may be, in the traditional civil service manner, that he will write an anodyne letter &amp; give such advice privately &amp; while this would be kinder to Gordon it would be the wrong move.  The public have to know that there is no free lunch, that the choice is that stark. Without knowing it there can be little sensible public debate about the way forward &amp; no front row career politician is going to be the messenger of bad news. </description>
		<content:encoded><![CDATA[<p>When Mervin Peake writes his statutory letter about inflation to the Chancellor (&amp; PM)  he should say that the only alternatives are higher interest rates or lower government borrowing &amp; that if the government doesn&#039;t make serious spending cuts the Bank will have a legal duty to produce a significant interest rate rise. </p>
<p>It may be, in the traditional civil service manner, that he will write an anodyne letter &amp; give such advice privately &amp; while this would be kinder to Gordon it would be the wrong move.  The public have to know that there is no free lunch, that the choice is that stark. Without knowing it there can be little sensible public debate about the way forward &amp; no front row career politician is going to be the messenger of bad news. </p>
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		<title>By: Acorn</title>
		<link>http://johnredwoodsdiary.com/2008/07/16/more-economic-pain/#comment-4736</link>
		<dc:creator>Acorn</dc:creator>
		<pubDate>Wed, 16 Jul 2008 11:13:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=1187#comment-4736</guid>
		<description>Whoopee; all is saved, the two pence duty on fuel is postponed.  The nation&#039;s financial problems have been solved; what are you whining about Redwood? 
 
As the bin men have not arrived this morning, I take it there is another public sector strike on.  Though you have to hand it to these trade unions, they have learnt the concept of &quot;gearing&quot;, from the financial sector. 
 
Your school caretaker goes on strike; it is impossible to run a school without a caretaker (not); school closes for a day.  So you have one person on strike, not getting paid.  The rest of the school is on strike; but, getting paid!  Clever init. 
 
Before you write about public sector strikes and the la-la land of public sector trade unions; the following is a bit of prep for Redwood fans. 
 
First commit this to your little grey cells.  &quot;The Government does not have any money of its own&quot;.  The public sector and its beneficiaries - the socialised economy - are totally dependant on the non-socialised economy for its resources.  All the nations assets - even the coal and the oil - belong to the people who by default, are born into the non-socialised economy.  It goes wrong when some clown invents the public sector.  Unfortunately, they do not teach this fact in economics classes anymore. 
  &lt;a href=&quot;http://tpa.typepad.com/waste/files/life_is_easier_in_the_public_sector.pdf&quot; rel=&quot;nofollow&quot;&gt;http://tpa.typepad.com/waste/files/life_is_easier...&lt;/a&gt; 
 
From PESA 2008, you will see in chapter 5, table 5.3 that the government pay bill is &#194;&#163;154 billion; about 28% of government spending. 
  &lt;a href=&quot;http://www.hm-treasury.gov.uk/media/1/F/pesa0809_chap05.pdf&quot; rel=&quot;nofollow&quot;&gt;http://www.hm-treasury.gov.uk/media/1/F/pesa0809_...&lt;/a&gt; </description>
		<content:encoded><![CDATA[<p>Whoopee; all is saved, the two pence duty on fuel is postponed.  The nation&#039;s financial problems have been solved; what are you whining about Redwood? </p>
<p>As the bin men have not arrived this morning, I take it there is another public sector strike on.  Though you have to hand it to these trade unions, they have learnt the concept of &quot;gearing&quot;, from the financial sector. </p>
<p>Your school caretaker goes on strike; it is impossible to run a school without a caretaker (not); school closes for a day.  So you have one person on strike, not getting paid.  The rest of the school is on strike; but, getting paid!  Clever init. </p>
<p>Before you write about public sector strikes and the la-la land of public sector trade unions; the following is a bit of prep for Redwood fans. </p>
<p>First commit this to your little grey cells.  &quot;The Government does not have any money of its own&quot;.  The public sector and its beneficiaries &#8211; the socialised economy &#8211; are totally dependant on the non-socialised economy for its resources.  All the nations assets &#8211; even the coal and the oil &#8211; belong to the people who by default, are born into the non-socialised economy.  It goes wrong when some clown invents the public sector.  Unfortunately, they do not teach this fact in economics classes anymore.<br />
  <a href="http://tpa.typepad.com/waste/files/life_is_easier_in_the_public_sector.pdf" rel="nofollow"></a><a href="http://tpa.typepad.com/waste/files/life_is_easier" rel="nofollow">http://tpa.typepad.com/waste/files/life_is_easier</a>&#8230; </p>
<p>From PESA 2008, you will see in chapter 5, table 5.3 that the government pay bill is &Acirc;&pound;154 billion; about 28% of government spending.<br />
  <a href="http://www.hm-treasury.gov.uk/media/1/F/pesa0809_chap05.pdf" rel="nofollow"></a><a href="http://www.hm-treasury.gov.uk/media/1/F/pesa0809_" rel="nofollow">http://www.hm-treasury.gov.uk/media/1/F/pesa0809_</a>&#8230; </p>
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		<title>By: Stuart Mark Turner</title>
		<link>http://johnredwoodsdiary.com/2008/07/16/more-economic-pain/#comment-4735</link>
		<dc:creator>Stuart Mark Turner</dc:creator>
		<pubDate>Wed, 16 Jul 2008 10:01:40 +0000</pubDate>
		<guid isPermaLink="false">http://www.johnredwoodsdiary.com/?p=1187#comment-4735</guid>
		<description>Dear Sir,

Given that the British economy is now experiencing all of the factors you so ably described above, would you agree that the chapter 11 style reforms Mr. Cameron wishes to introduce would not help our economy at all. Indeed this measure would simply serve to prop up failing businesses causing further inefficiencies in our economy, surely it would be far better to lower business taxation and keep interest rates low in order to prevent many viable companies becoming insolvent.</description>
		<content:encoded><![CDATA[<p>Dear Sir,</p>
<p>Given that the British economy is now experiencing all of the factors you so ably described above, would you agree that the chapter 11 style reforms Mr. Cameron wishes to introduce would not help our economy at all. Indeed this measure would simply serve to prop up failing businesses causing further inefficiencies in our economy, surely it would be far better to lower business taxation and keep interest rates low in order to prevent many viable companies becoming insolvent.</p>
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