As a resident of the United Kingdom, I do find such news slightly worrying for our present state of the Economy. The moral of the nation is at all time low with our newly elected co-allocation government making huge cuts to its public sector as well as increases of personal taxation & indirect taxes to increases.
Despite corporation tax & other incentive tax allowances given to the business sector for the purposes of growth as promised by the Government, I cannot honestly see how there will be a surge of growth within the economy despite the attractive corporation & other tax incentive allowances given to the business sector. After all we have lost the infrastructure for the banking industry to lend capital to our much delicate economy & since we will be in a period of cutting down on personal expense, will there be any consumer demand in the general economy in the first.
I would like to love to get a few answers to a few basic questions as to what is the current employment rate, that is to say “real employment” in the sense of Full time permanent members of the consumer population & not part timers working on a minimum wage putting their trade & skill to waste?
Furthermore it is argued that Britain nowadays is a “serviced economy” as oppose to its once glorious industrial days. With the advent of Technology & the online world, such Services are probably not needed in the UK when they can easily be outsourced outside ?
Just like our disappointing National football team, It appears that we will have to re-invent our economy which I am sure we are very capable of. In mean time I think I will continue buying the “Brixton Pound” to buy local produce around Brixton!
In Blake’s words , The Human Abstract
“Pity would be no more,
If we did not make somebody Poor:
And Mercy no more could be,
If all were as happy as we”
