Comments on: 80,000 more reasons to do something about the economy

By: Rose

Rose — Fri, 19 Sep 2008 12:30:32 +0000

The response to this situation is to decide that the best interests of each child from abroad must now trump our immigration policy – whatever that is supposed to be. As it is presumably in the best interests of each child from abroad to remain in a country where it and its family will get free housing, free healthcare, free education, free social care, free legal aid and advice, an unearned income to be going on with, etc. etc., where does that leave the best interests of our own children?

By: mikestallard

mikestallard — Thu, 18 Sep 2008 17:12:52 +0000

I have been on the dole and, believe me, it is not funny. My heart goes out to all those poor people who have been made redundant. And a lot of them, of course, are the spear carriers, not Achilles and Hector.
The government has, of course, been massaging the dole figures for ages.
By keeping illiterate and unmotivated children at school and then in college, it massages the figures. The universities disguise the figures. The enormous number of people in non jobs like "Employment Supervisor" or "Council Control Executive" hide the figures. The vast number of walking wounded (greater than in 1916) on Supplementary Benefits vilify the figures.
Now the numbers of dole people will probably top 2,000,000, in addition to the above.
Meanwhile, immigrants fill the workplace…..

By: Derek

Derek — Thu, 18 Sep 2008 13:00:02 +0000

Given the suspiciously gravity defying ONS retail sales figures just out. I get the distinct impression the government aren't as keen on a rate cut as you.

I don't know in what parallel universe the government finds these retailers. Presumably the same one in which, for the purposes of CPI, it assumes everyone eats a diet of flatscreen TVs.

Still think you underestimate the inflation threat. Time will tell who's right.

By: APL

APL — Thu, 18 Sep 2008 10:56:53 +0000

JR: "80,000 more reasons to do something about the economy"

One wonders if we really need quite so much migrant labour?

Will the public finances be able to cope.

By: Cal

Cal — Thu, 18 Sep 2008 01:04:49 +0000

The unemployment figures certainly do reinforce the need for a rates cut.

In regards to the HBOS situation, I must say that it certainly came as a shock to me and would have been rather unthinkable even just a week ago.

The bank may well have been more exposed to the current crisis in some regards, but did appear to be on fairly solid ground with a very healthy capital ratio. I would like to think that the influence of speculators and short-sellers is always minimal and does follow the real value of a company but it seems to have been damaging today.

As a Scot, I'm particularly worried about the impact on the Scottish banking sector, especially if the Bank of Scotland ceases operating in it's relatively independent form.

By: adam

adam — Wed, 17 Sep 2008 23:35:36 +0000

More communist propaganda from newsnight. We have already had a cosy studio discussion on Chinas "successful"one child policy, among others.

Now Paxman is getting very exited about the end of capitalìm.

Oh, they managed to get the markets wrong again tonight.
I think the had the Dow Jones at 109000 ish.

Its a joke of a show, its reason enough for the Beeb to be shut down. Why should people be forced to pay for this Guardianista (nonsense -ed).

By: Tony Makara

Tony Makara — Wed, 17 Sep 2008 21:55:39 +0000

The problem is we do need to cut rates, however we can't cut rates because it will undermine confidence in Sterling and a weaker Pound will lead to further inflation because we are so dependent on imported food and fuel. If we were less dependent on imports this would not be a problem and we would be able to cut rates. This has to be understood, until we start to produce more of our own food and fuel we are hostage to the higher interest rates needed to support imports.

By: APL

APL — Wed, 17 Sep 2008 20:13:08 +0000

JR: "It should mean the worries abate about HBOS, which have gripped the markets in the last few days."

Other than the fact that even should the UK competition authority approve the merger, it is still subject to approval by the European Union.

This illustrates why the EU is such a liability, we need a decision, even if the UK authorities provide one, it will be subject to being second guessed by the EU, the spectre at the feast.

By: Keith

Keith — Wed, 17 Sep 2008 19:17:52 +0000

John,
Cameron and Osborne need reminding that a sharp move to the right would be almost universally welcomed after 11 years of the 'clunking fist' and the idiocy that went with it. They are altogether too liberal for my taste.

By: Matthew Reynolds

Matthew Reynolds — Wed, 17 Sep 2008 18:58:53 +0000

The government should end stamp duty on shares and suspend it on property deals totally for at least three years . The stock market is weak and the housing market in the deep freezer ! I know that the PSBR is too high but long term cuts in QUANGO's and getting tough on those who do not want to work will in time deliver the savings required to slash the budget deficit .

This is an emergency and as such the 100% end of stamp duty is needed to bolster two weak areas of the economy whose vitality is essential to get a recovery under way .