UK service sector contracts for first time in two years

[Pete]

'Very disappointing' fall in activity in dominant economic sector raises fears Britain is headed for triple-dip recession

Apparently we are, "on the road to a triple-dip recession, as economists predict the UK will be stripped of its triple-A credit rating.

"The services sector – which accounts for three-quarters of Britain's economy – shrank for the first time in two years in December, suggesting UK GDP fell in the fourth quarter. If output drops again in the first quarter of this year, the UK will fall into its third recession in five years, an unprecedented triple-dip."

How long does this government need to stabilise things, let alone produce some growth? Or is it still, "Labour left the economy in such bad shape, etc, etc.." An excuse that wore thin last year.

One question that I see never asked is, during the last few years, what would the Conservatives have done differently if they'd have been in power, not Labour?

[chesterfieldchris]

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[Fly]

But if it was the Tories who left the country in a mess before Labour got back in power then were back to step one.
Isn't it about time there was a radical change to the way the system works.

Oops, scuse my bad. That'll never happen. Rich, richer  q?
Next time someone posts it was the gov before, I'm banning them 

[Pete]

Sorry, I didn't make myself clear.

Every time a Tory politician speaks, they waffle on about the state of the country after the Labour government. They completely ignore the insane behaviour of the banks and the billions of pounds we had to put into them. They never mention the whole financial debacle brought upon the world through reckless behaviour by traders and their ilk, by the Freddies and Fannies (oer missus), etc.

What would they have done? Reign in their reckless behaviour? Wish them luck because they are their mates?

Labour didn't bring this crisis on, the greed for money brought this on. Or were the British Labour Party also in power in America? Greece? France? Portugal? etc etc.

[Old Cruser]

The more I read about this governments plans the more alarmed I get. They seem to be just wading in and begger the consequences.
I read that foster carers are to be charged the bedroom tax, our country haven't enough as it is - Derbyshire and other counties will suffer, what will happen to these children? Back into the care homes/work houses - is that what their future is.
At first I read that the child benefit was to be taken from higher paid people - but have recently heard that it is also going to affect 'some' lower paid people. Having said that I have to admit I am not up that much on benefits always worked from 15yrs old so have been fortunate in that respect.
Again I say this country throws money at other countries - are the poor of our country expected to pay for that!
For those of you that are really 'up' on all of this can I ask what the government are taking from their own pockets etc as I have only been reading what is being taken from the lower paid, we hear of allowances the MP's  get etc - just wondered. I'm sure one of you can enlighten me.

[Old Cruser]

Pete I had intended to ask if we were all to pay for the banking crisis as well as monies recently paid out in compensation to another country

[chesterfieldchris]

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[Old Cruser]

@ CC i wouldn't disagree that cuts have to be made - it's good basic houskeeping sense on a higher level - but the drastic way in which is being done is the problem. Shelter have been voicing concerns about the lower bracket people struggling to pay rent/mortgages for awhile. Like you I can't see the sense in the lending  mortage rate going back to 90-95% and it beggers belief that people would even think of  taking it on - never learn do they.

[chesterfieldchris]

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[Old Cruser]

The cuts need to be more tailored, they are in too much of a rush to run it all out, I am told that the ESA benefit (whatever that is) is beiing run out first and systems are not ready for it, they have already put back the PIP to 2015. Rushing will create problems and heartache.
As for credit cards, on tick, on hire purchase, have never done it - apart that is for a mortgage which was well thought out and that paid off, a car, oh and years back we used to rent the TV as that was the better option back then.
I believe in waiting for what you want and saving for it. Not easy these days though is it.

[chesterfieldchris]

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[Old Cruser]

and Rome wasn't built in a day

[therealjr]

It would be like cutting back on £10 a month spending, when the interest on the credit card is £15. When next month comes, you would be £5 more in debt than when you started, even though you've cut back. 

But what if that £10 was going to pay my bus fares to get me to the job centre?
or buy some tools to set myself up as an odd job man?
or do some essential repairs to the house so that I don't hve to pay £50 next month?

Isn't that what's usually called 'speculate to accumulate'?
Surely that's where cuts don't work.

and if you are talking about tailored cuts check this out
http://www.guardian.co.uk/news/datablog/2012/dec/04/government-spending-department-2011-12

now I know you won't like it because it's from the Gurniad but explain to me how edukation ejucation headukation Education and Business skills get cut and yet benefits and Internation Aid get increased?
Seems backwards way round to this simple man.

[chesterfieldchris]

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[Pete]

>> Also helping nations like Africa etc can pay dividends when it comes to allowing British companies to win construction contracts or oil drilling vo ntracta in these nations in time. Speculate to accumulate.

So, we punish the old, infirm, unfortunate and poor people of the UK to benefit the big construction companies with projects in Africa, etc?

Once again the money flows from the poorest to the richest.