Durham Giant wrote:
working in the public sector and with the pat freezes etc i will have had wage rises of 3% in the five years of this government with inflation running at 2.5 % to 3 % per year over the same five years i will have had a a 9 to 12% cut in income during the five years of the government.
No wonder i am not spending any money to get the economy moving
He doesn't seem to get it that paying people less means there is less money to spend. Drive wages ever downward and tax receipts are lower as well. So pay freezes and workfare undermining the minimum wage etc do nothing to fix the problem of low growth.
He says the budget is fiscally neutral so he
must be robbing Peter to pay Paul.
The devil will be in the detail as to who is losing out to fund the cuts in corporation tax, the increase in personal allowance (that obviously doesn't benefit those out of work or already earning less then the threshold) and the other headline grabbing things (like beer duty) that ultimately won't do a thing to promote growth.