Big Society: If it smells like BS…it probably is!


Call me a cynic if you like but things, literally, aren’t adding up and guess who’s going to end up paying AGAIN!?

“Big Society”: Just a stinking acronym…

The link to this article is shown below and it makes for some pretty staggering reading but I would also recommend the source “Duncan’s Economic Blog” tends to be a pretty informed read:

Change in debt by 2013 under Osborne's plansHere we can clearly see the impact of Osborne’s changes over the next three years: public debt down by £43bn BUT private household debt up by £245bn – five times as much.

This shouldn’t come as a huge surprise. In today’s Financial Times one city economist notes that:

‘With real household disposable income set to fall this year through a combination of flat employment, negative real wages, tax rises and benefit payment cuts, the only way we are going to see spending grow in 2011 is if the savings ratio falls.’

Given the tax and benefit changes Osborne is presiding over, households have little choice but to borrow more to make ends meet. And that is how Osborne plans to drive down public debt: by increasing the household debt that helped cause the crisis in the first place.

 

via Far from cutting debt, Osborne’s plans will make it soar | Blog | False Economy.

Please read this article

Revisited: Ulrich Beck on Complex societies and politicians

but don’t miss out on any of these…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s