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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