Austerity
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The Telegraph has reported on November 11, that despite an uneven recovery, Government austerity and falling support from public services, Millions of consumers in the UK are still spending more than they earn . The author attributes this to average salaries being lower than basic needs dictate. I have lived in London, one of the most expensive places in the UK, for a couple of years. When I immi...
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The BBC published a news on November 4 that Ireland has announced record spending cuts of Euro 15 Billion. Of these, Euro 6 Billion are to be cut in 2011 alone, as Ireland front loads its debt. This is an exercise in winning credibility, but is likely to throw the Irish economy further into recession. I'd like to briefly touch on a possible solution for Ireland first. Then, would like to discuss...
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Catherine Bennett writes in the Guardian on October 31 that women should stop whingeing about the austerity cuts imposed by the UK's Coalition Government. We are all in this together, and it is pointless to hold one party more sacred than the other. She's wrong. Here's why. The UK Government has cited hard times, and initiated spending cuts. These cuts are wholly unnecessary, particularly in the...
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Research by the UK's House of Commons Library shows that spending cuts announced by the UK Government on October 20, will impact women twice as hard as they do men. GBP 8.5 billion is sought to be saved by the Government by cutting direct contributions to individuals. Of this sum, GBP 5.7 billion is going to come from women, GBP 2.7 million, from men. Earlier, in June, the UK Government announced...
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I have been spending some time trying to understand this problem. The problem is of too little, and not too much, harmonization. Looking at the problem, the answer seems so simple. I worried it was simplistic nonsense when I came to it. I've tested it logically, and it seems to hold. Those countries that are not suffering, they hold the key to this solution. The solution is simple - The Euro Zone...
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Just got done listening on the BBC World Service to David Cameron speak at the House of Commons, about the Defense Review. This Defense Review has been overcast by austerity. Originally, about 10% of the Ministry of Defense's budget was to be cut, now, estimates put the cuts closer to 8%. He says that Britain has to continue punch above its weight in the world, on account of its economy, its alli...
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Chris Huhne, the UK's Energy Secretary previously keen to impose green taxes on travelers, has now noted that the spending cuts contemplated under the Tories Grand Austerity Plan, are not etched in stone . It could still be just a dip of the toe. David Cameron did the same, 7-8 days ago. Just a test of public opinion. Since the cuts are ideological in this case, the Tories will fight a lot of tru...
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The IMF has today advised the UK that it would need to reassess austerity if growth slows down too much . Meanwhile, after briefly backing down from flaunting austerity machismo, David Cameron is back to playing "Citizen Dave." The IMF has built up to this admission, earlier this week, it publicized how most of the West languishes near depression, thanks to austerity. Then, it publicized slowing...
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In one stroke, UK's Chancellor George Osborn has taken women three steps back . He's announced today at the annual Conservative Conference, that under the Conservative Government's austerity plans, the UK's Benefits system will be reformed. 1. A family is entitled to 1 salary, no more, no matter its composition and its needs. 2. If a man does not pay for the upkeep of his family, the State will n...
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Last week, news leaked out that Liam Fox, the Defense Secretary of the United Kingdom, had written a letter to David Cameron warning that draconian cuts to the military budget would not work. Today, as the annual Conservative Conference started, there were indications that David Cameron had softened his stand regarding the cuts to the military budget . At the same time, David Cameron confirmed wh...
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