Friday, December 07, 2012

Is Our Nation in Mourning?

Marks and Spencer

Marks and Spencer

The autumn budget statement was presented to Parliament and to the Nation by George Osborne, the Chancellor of the Exchequer, on Wednesday. There was little to bring hope for a bright future.  In fact, economists estimate the Government will have to plug a £27 billion deficit before the close of 2018 by making cuts and increasing taxes. Those on pensions will feel the pinch, as tax will be deducted from their pensions to the tune of £2 billion. Labour point out that figures presented by the Institute of Fiscal Studies show that lower income families will be hit the hardest because of cuts in tax credits and reductions to child benefit.
Debenhams

Debenhams

If all this is not bad enough, a look at what is being offered for sale in our major stores like Marks and Spencer and Debenhams you will see that funereal black predominates in fashion ranges, reflecting the mood of the Nation. And yet, this is paradoxical, because when you are out and about, our roads are packed; there’s so much traffic the situation is near gridlock. Shops are teaming with people who are carrying bags full of shopping – Even finding a parking space at TESCO this morning was nigh impossible. I did eventually find a place.

Is it a case of buy now on credit and pay later? I cannot understand what is happening.

Links

Autumn Statement: family tax bombshell over new black hole


Autumn statement: George Osborne slashes welfare and extends austerity


Debenhams


Marks and Spencer

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