logo
The Daily Stirrer

Business Chiefs Fear For UK Economy
by John de Roe.

The Daily Stirrer brings you opinion and comment on issues in the news that are likely to affect the lives of ordinary people. We therefore focus on economic matters, prices and inflation, jobs and unemployment, health, diet, education and social comment.
Today's report highlights the concerns of business leaders who, while supporting the coalition goverment's austerity measures aimed at controlling the rinaway public sector deficit are worried that inflation and the crisis in the euro zone may still derail the economy.

Business Chiefs Fear For UK Economy
by John de Roe.
2011-04-09
CREATIVE COMMONS: Attribute, non commercial, no derivs.
KEYWORDS: money, business, finance, infalation, debt, economy, jobs, living standards, budget, cuts, spending, deficit

Many UK business leaders, including some who backed chancellor George Osborne's spending cuts, have said they have growing concerns about the state of the economy, warning of weak growth and rising inflation ahead.

Former Conservative adviser Archie Norman and ASDA CEO, now chairman of ITV, said the government's growth targets were over optimistic. The former Asda boss joined Carphone Warehouse founder Charles Dunstone, Next retail chain chief Lord Wolfson and Yell chairman Bob Wigley in forecasting tough times ahead as soaring inflation dents consumer spending power, although they all express continued support for George Osborne's austerity measures.

The businessmen's concerns centre on the ability of the private sector to create as many jobs as hoped. "I don't think the private sector is going to be able to pick up the slack in this climate," Andy Bond another former ASDA boss said.

Bond, who ran the UK's second largest supermarket chain for five years, forecast a two-year "retail recession" earlier this week.

He was one of the 35 names who signed a letter to the Daily Telegraph six months ago backing Osborne's plan to slash the deficit and arguing that businesses "should be more than capable of generating additional jobs to replace those pruned from the bloated public sector".

The problem we have is that any further expansion of the public sector by creating candy floss jobs for tax eaters adds to the burden of public spending but allowing unemployment to rise does the same. The Bank of England could easily curb inflationary pressures in the economy by raising interest rates but that would also increase unemployment and might also act as a restraint on enterprise. The purpose of slashing the interest rate at which the central bank lends to commercial banks to an insanely low level ( 0.5%) was supposed to boost the economy and re ignite the housing market but it has failed to do so.

Unfortunately to raise interests rates now would have a further negative effect on house prices and probably lead to more repossessions. Although the recovery (as the government likes to call what has become a slump) so far has been weak and faltering we have to stick with the deficit reduction policy. To do otherwise would lead the UK towards the same financial abyss as Iceland, Ireland, Greece and now Portugal have fallen into . If on the other hand we returned to the loonytoons economics of the last Labour government and the utterly inept Obama administration in the United States, living standards would deteriorate even further."

Rocketing prices for oil, essential commodities like copper and iron cotton and staple foods such as what and beans in world markets are adding to price pressures that have sent inflation to 4.4%, more than double the Bank of England's target. These increases are caused by the rising demand from developing economies like China, India, Brazil and Indonesia exacerbated by political unrest in the Middle East.

The businessmens' warning comes at the end of a week in which major high street names including Halfords, HMV and Mothercare have reported falling sales and wines and spirits chain Oddbins has gone into administration. The illusory nature of the recovery is spelled out by the number of public companies warning of falling profits and reduced dividends.

Inflation is the biggest problem Squeezing incomes as prices rise is never going to be a popular or easy course. An increase in VAT has not made the government's measures easier to bear either. The alternative however, of printing money to service debts, is worse both for business and the public.

This perfect economic storm, predicted by The Daily Stirrer in 2009, means prices are rising across the high street. Next has pushed its prices up by 8% while at Marks & Spencer the average is 6%. To keep a lid on inflation, Marks & Spencer is looking to shift some of its manufacturing out of China to central Asia where manufacturing costs are lower.

RELATED POSTS: Factory Gate Inflation Hits Two Year HighThe so called 'factory gate index', the price of goods leaving British factories hit its highest rate in more than two years in March, official figures showed, raising fears about inflationary pressures feeding through into the general economy. Factory gate prices – what manufacturers charge for their products – rose 5.4pc over the year, the ...
Shock inflation numbers ahead of UK BudgetJohn de Roe analyses the likely consequences of rising inflation announced today and the budget measures introduceb by Chancellor George Osborne on the financial prospects of individuals, families and retired people.
Young Hope For Housing CrashThe burden of student debts imposed on young people by a misguided education policy that has left the nation with a surfeit of media studies graduates and a shortage of practical skills is also having dire social consequences in other ways.
Financial MadnessWas the credit crunch as the media called it really caused by the geed and incometence of the banks and the inabiliy of us ordinary punters to manage our affairs. Or was it all due to the financial madness of politicians who engineered a a system that depended on infinite growh in a world of finite resources.
Shock, Horror! Coalition Spending Cuts Cuts Will Mean 50,000. NHS Job LossesPredictably the left are screaming about the claimed 50,000 jobs that will have have to be axed by NHS trusts across the nation to meed government budget reduction targets. What NHS managers are doing however is following in the footsteps of Labour controlled councils and rather than losing the candy - floss jobs created by empire building bureaucrats are slashing front line services to punish users of the service for ...
Interest Rates Must Start To Rise Very SoonThe Daily Stirrer has warned you to brace yourselves for rises in interest rates. As it is the Bank of England has kept rates at an insanely low level for far too long in the face of evidence that their policy had completely failed to achieve its stated aim and boost the economy. Now with the economy stagnant, the jobless figures flatlining but likely to increase as public sector jobs are shed and inflation
more posts onDebt Crisis
more posts on Your Money

If you liked this, please give it a boost

Bookmark and Share

Close Window and return to menu
News Feeds (Go back to top) <
BBC News
Google
  1. Suche
  2. Bilder
  3. Maps
  4. Play
  5. YouTube
  6. News
  7. Gmail
  8. Drive
  9. Mehr
    1. Kalender
    2. Übersetzer
    3. Books
    4. Shopping
    5. Blogger
    6. Finanzen
    7. Fotos
    8. Docs
    9. Noch mehr »

Account Options

  1. Anmelden



 

Erweiterte Suche

© 2024 - Datenschutzerklärung - Nutzungsbedingungen

CNN
Google
  1. Suche
  2. Bilder
  3. Maps
  4. Play
  5. YouTube
  6. News
  7. Gmail
  8. Drive
  9. Mehr
    1. Kalender
    2. Übersetzer
    3. Books
    4. Shopping
    5. Blogger
    6. Finanzen
    7. Fotos
    8. Docs
    9. Noch mehr »

Account Options

  1. Anmelden



 

Erweiterte Suche

© 2024 - Datenschutzerklärung - Nutzungsbedingungen

SITE SEARCH
find keywords on this site

Enter keywords& choose search engine:

Google: Yahoo: MSN:

This free script provided by
JavaScript Kit

INFORMATION & NAVIGATION

navigate

[an error occurred while processing this directive]

Home
Top Of Page
Back Catalogue
Our Comments
FEATURESThe Daily Stirrer
Boggart Blog Central

Comedy Main
Comic Verse
Cartoons
A Tale Told By An Idiot
General
Fiction
History
Thought
Poetry
Science & Technology
Elsewhere

Boggart Blog Daily
Little Nicky Machiavelli
This writer at Authorsden Gathering
Delicious Greenteeth
Boggart Network News
Boggart Network News

More From Around The Labyrinth

LATEST POSTS & COMMENTS

BULLETIN
Latest Posts

Inflation The Big Threat To Recovery Today's report highlights the concerns of business leaders who, while supporting the coalition goverment's austerity measures aimed at controlling the rinaway public sector deficit are worried that inflation and the crisis in the euro zone may still derail the economy.

Two Thirds Of Universities To Charge Top Fees
The Coalition’s flagship policy on tuition fees looked to be descending into chaos yesterday after it emerged that two thirds of universities would be looking to charge the maximum £9,000 a year for degree courses ...

Gadaffi To Unleash A Wave Of Migrants On Europe Libya is unleashing a wave of migrants against Europe as retaliation for the coalition's military strikes against the country. Last week The Daily Stirrer reported the tiny Italian island of Lampedusa is being overrun with refugees fleeing the troubles in North Africa. The opening of immigration floodgates came as Italy announced ...

Factory Gate Inflation Hits Two Year High
The so called 'factory gate index', the price of goods leaing British factories hit its highest rate in more than two years in March, official figures showed, raising fears about inflationary pressures feeding through into the general economy. Factory gate prices – what manufacturers charge for their products – rose 5.4pc over the year, the ...

Obama Administration Paralyzed By Budget Deadlock
Failure to agree a budget for the coming year with the Republican controlled House of Representatives plunged American President Barack Obama's administration into crisis last night. With only hours to go before the deadline at which funding to US Government operations will be cut off the gap between team Obama and ...

Portugal Pays More For Credit The credit reating of the Portugese government was lowered by Moody's rating agency yesterday ahead of a bond auction in Lisbon.
Debt due for redemption in June 2012 was issued at an average yield of 5.9%, compared with 4.3% at a sale of twelve month bonds on March 16.

The Real Story Behind Obama's Job Creation
Last week's announcement by the U.S. labour department that the American economy had created 216,000 jobs in March was seized on as cause for celebrations by sychophantic Obamessiah cultists desperate for something to praise "The greatest human being who ever lived" for. Obama cult inhouse newssheets The New York Times, the Washington Post reported that ...

Fall In Industrial Output Dents Recovery Hopes Shock economc news today was a fall in industrial output in the three months to February 2011. While the decline was led by a 7.8pc fall in oil and gas extraction, due mainly to routine maintenance work, economists were more troubled by the figures for manufacturing which has been leading the recovery and was expected to continue.

Finger Wagging Nanny Points Way To Big Brother and 1984
Few of us hoped for truly great things from the coalition government formed by the Conservatives and Liberal Democrats after we threw out the wretched New Labour poltroons, but we did not expect an extension of the nanny state, more finger wagging authoritarianism and a thought police agenda that would have shocked George Orwell himself from this Big Brother coalition. The Human Cost Of Our Cheap Fashions
In the west we have lived the good life for many years, taking for granted the cheap clothes and low cost consumer goods we inmport from the poor nations of the third world. There is a hidden human cost of our comforable lifestyles however. Third World workers, clothing workers in particular, are employed under conditions that amount to slavery in everytthing but name. Even so the hand wringing, tree hiuggers of the progressive left are happy to enjoy what's provided by the hardship of those wage-slave workers while lecturing less idealistic people about the evils of Europe's slave trade which ended 200 years ago ...

April 2011 volume of The Daily Stirrer is now available, a tad late but there you go.. The March 2011 archive is online also. Stop This Nonesense - Cows Cannot Give Human Milk
by Ian R Thorpe.

Another great world changing breakthough or another example of control freak scientists trying to play God ...?

GO TO Boggart Blog Back Catalogue for links to older posts...

The plight of people on the doorstep of the Lib Dems' conference in Liverpool this week exposes the true impact of the Coalition's policies.

COMMENTS AND RECOMMENDED READING AROUND THE WEB

In this section we do not necessarily support the views expressed in linked articles but try to give a coss section of interesting and well written articles that we think are likely to stir things up a bit.

Fatties And Smokers Save The NHS Money

We're told, endlessly, that smoking must be even more highly taxed because smokers cost the NHS oodles of money. Further, that salt, fats, junk food, should all be taxed because fatties cost the NHS lots of money. This is nonsense, nonsense on stilts ...

A Polite Debate On Global Warming After years of arguments, it looked, recently, as though we might be approaching a breakthrough in the debate over whether or not the world has been warming. For the uninitiated, it might seem surprising that this is a subject of debate. Surely of all the questions about climate change – all the future modelling, mankind’s role in it – the ... (great comment thread on this)

Misguided On Social Mobility
Last month, I suggested to colleagues an April Fool for this newspaper, . The cod story was this: a government study has discovered that not nearly enough women, ethnic minorities and 17-year-olds in receipt of free school meals are passing their driving test. Therefore, in pursuit of social mobility, the Deputy Prime Minister, Nick Clegg, has decreed that, from now on, the “fee-paying” British School of Motoring and other driving schools ...

Demonisation Of 'Tea Party' and the Intellectual Bankruptcy Of American Liberals
Can America’s Left stoop any lower than New York Senator Chuck Schumer’s juvenile and hate-filled attack on political opponents today amidst the battle on Capitol Hill over the federal budget? In a floor speech, Schumer, the chairman of the Senate Democratic Policy Committee, referred to conservative congressmen in the House of Representatives, many of them…

This One Will Not Play Well With The Gay Nazis.
Roberto De Mattei, 63, the deputy head of the Italy's National Research Council, claimed that the Roman empire was fatally weakened after conquering Carthage, which he described as "a paradise for homosexuals". The remarks prompted angry calls for his resignation, with critics saying his comments were homophobic, offensive and unbecoming of his position.

Booze Gives You Cancer
This is the BBC – although it could just as easily be the Mail.
Drinking more than a pint of beer a day can substantially increase the risk of some cancers, research suggests. Note the weasel word, there – suggests.It’s interesting – in a train wreck kind of way – to watch the righteous peddle their lies ...

Osborne Must Act To Stop Britain Being Dragged Down By The Euro Crisis
George Osborne has established a high reputation as Chancellor, and in some ways this is well deserved. The Chancellor is in danger of throwing away all of this achievement, by failing to confront his first great financial crisis. This is the collapse of eurozone, a slow-motion disaster that reached a fresh level of horror on Wednesday night when Portugal held out the begging bowl ...

Nick Clegg Chose Coalition - Now He Must Stop Crying Simon Jrenkins, The Guardian
Oh dear. Nick Clegg has had another Shylock moment, bewailing his lot to the New Statesman. Has a Lib Dem not hands, organs, dimensions, senses, affections, passions? "If you prick us," he wails, "do we not bleed? If you tickle us, do we not laugh? If you poison us, do we not die?" The short answer is no, not if you are a minority leader in a coalition. Then you are lower than ...

Clegg Is Right On Social Mobility - Toby Young - The Daily Telegraph
Is Nick Clegg right about social mobility? I’ve blogged before about the limits of what the state can do to promote social mobility and Clegg’s proposals probably won’t do much to alter Britain’s status as “the sick man of Europe” (Michael Gove) when it comes to inter-generational mobility. But his analysis is spot on: the…

The Rise Of The Idiot Left
The mother of idiots is always pregnant” - Italian proverb The sun was shining. The sky was blue. After lunch with two leading journalists, it seemed that all was well in the world. So I was a little disturbed to find that my office had been “occupied” by one of many disparate “direct action” groups…

Mass Media On Egypt, Reporting What We Knew In February I now understand that the purpose of the mass media is to report on things that don’t fit the agenda only after they have happened and are so blindingly obvious that ignoring them is impossible. Oh yes, and by then it’s also too late to avoid catastrophes. [ ... ]“The secular reformers and twenty-something urbanites at the vanguard of Egypt’s Jan. 25 revolution have found themselves eclipsed. They lack experience and grass-roots networks to compete with the Muslim Brotherhood and other religious groups that have quietly stoked ...

FOR OLDER COMMENTS from our blog index click here. MORE FAVOURITES