The pound has lost over 33% of it’s value in the last twelve months, some fares on the train network are going up by a staggering 50% plus, unemployment is on the rise at an unprecedented rate, business failure has risen sharply and the list goes on and on.
As the British Pound losses value, exports are not rising due to the global slowdown and the fact that the manufacturing industries have been decimated. On Britain’s high streets the British Pound slips below the value of the Euro and the trust in the British Pound and the British Economy is declining fast. These rate cuts only help the biggest of businesses, many of whom have got us into this mess. Where are the prosecutions of those who have gambled away the life savings of so many in such a reckless, unprofessional and irresponsible manner?
In a continuous over simplification Mr. Darling and Mr. Brown – far from being the saviors of the World – urge rate cuts to drive the much needed foreign capital away without achieving even moderate results in terms of economic stimulus.
The 2.5% VAT cut was another naive attempt to stimulate the British Economy. With 10%, 20% and up to 50% price cut slogans on almost all shop windows, what exactly should the 2.5% VAT cut have achieved? Anyone, apart from Darling-Brown, knew this was going to fail miserably.
At a time when most employees will be worried about their job prospects, we increase train fares by in excess of 50%. Many who will have to take wage-cuts, or at least have no prospect of wage-increases, now have to worry about being able to afford to get to work. In my very personal opinion, the ‘privatized’ industries, rail, power, gas and water, in an unbelievable display of greed and cynicism, will have blood on their hands by the time this winter is over. This all the result of massive oversight failure on the part of this government and the civil servants, who have long forgotten who they should serve. What justification could there possibly be for these massive profits and these equally massive price rises?
To cut this long depressing story short, what we need is investment in infrastructure, education, health service, innovation and small business. It is small business that will get us out of this mess and social entrepreneurship is more important then ever.
Let’s hope Mr. Brown does not end up being the wrecker of Great Britain? — ST.