Earlier quoted context omitted.
We're ten years from the start of the last recession. Should spending still be high to stimulate the economy, or are they perhaps not in a recession anymore? This isn't a case of a government reducing spending in response to an economic downturn. It's a government INCREASING spending due to that downturn, and then not further increasing it when the economy recovers.
The government has not increased spending. The government has decreased spending.
UK austerity has inflicted 'great misery' on citizens, UN says
91–100 of 105 posts
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#92Earlier quoted context omitted.
Youth unemployment goes hand in hand with dysfunctional economies. The government does not create jobs by mass spending. In Canada we have marginally less 'government spending' and lower taxes and we have a very low unemployment rate. Now, a country certainly could operate effectively with higher rates of government spending, but my point is that this is not really the factor. Spain does not have a competitive econom…
"Spain does not have a competitive economy and that's that." Competitive how? Salaries are lower than in Canada. Competitive with who? Do you mean the productivity is low? That's a function of industry development, that is impossible without investment.
Productivity is not just a function of investment.
Spain doesn't form large organizations like they do in Germany and the UK. More people in Germany for example are employed in large organizations wherein they can create more sophisticated products like cars.
Do they have extensive coop/internship programs for young people to work at large organizations?
Is the civil service actually productive?
My experience with our own Spanish office is that they are slack. I would say professionally disorganized. They'd probably just accuse me of bad 'life work balance' , which is fine. But the office hours, long lunches, absenteeism ... nobody really ever seemed to be doing anything. And FYI the work days were long .... Now that is anecdotal - my personal experience, I know that a lot of places hum along obvious, but most of my Spanish friends would concur with what I'm saying though probably not my language. Call it weather, culture, whatever but there's a different culture outlook and this cannot be ignored.
Here's a good take that matched my sentiment [1]
The problem with this 'investment' argument as it relates to Greece, Spain etc. is that only systems that are prepared for investment can possibly make good with it.
Think of a company like a startup: should every startup receive $100M - would that make everyone successful? No - because most startups don't have 'product market fit' and they are not creating value. If a nation has the wherewithal and are ready for investment, well that's another thing. And of course consider how that capital is distributed ... by governments often to their civil servants and pensioners, which might be good, but it's also not exactly going to result in any kind of industrial development.
[1] https://elpais.com/elpais/2014/12/17/inenglish/1418816737_69...
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#93Earlier quoted context omitted.
> The UK is one of the richest countries in the world. There are two parts to England: London and not London. All the money is centered in the capital and the rest of the country is neglected. House prices in London are driven up to insane levels due to the money laundering through real estate transactions for empty housing. The majority of the working class people in England live in poverty.
That's a fascinating definition of poverty. It's certainly not an internationally recognised one. Have you ever been to England? People in Birmingham or Manchester are certainly not living in poverty by any reasonable definition of the term.
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#94Earlier quoted context omitted.
It was already wrecked and heading for a cliff. Austerity brings the cliff closer and reduces it's height. You'll notice the fall and blame austerity but it's better than the alternative.
Economy is in a recession. Austerity means that the government is spending _even less_ into the economy. How do you think that makes the cliff less high? Not bailing out the banks during 2008 would have been austerity. It would also have made things probably twice as bad (2008 was bad, but the 30s were way worse, like 30% unemployment bad) There is no actual logical path between austerity and improved short or midter…
Where do they get that money to spend?
Money spent by individuals and companies is usually better spent than that by the government. (given a law-abiding high trust society)
Money that passes through government is not magically imbued with some extra quality. More the opposite. Remember that story about it being cheaper to hire a taxi than go by train for two or passengers in Greece? That the Greek train system had more employees than passengers and lost a billion per year?
https://www.bbc.com/news/world-europe-16834815
Of course I don't want to go overboard here; money spent wisely by the government on the public good can be more effectively (productively) than the individual or company.
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#95Earlier quoted context omitted.
Aside from how terrible this kind of "there are worse things elsewhere" argument is in general, this isn't even a choice. Like, a little belt tightening trashed the Greek economy. Utterly wrecked it. Did more damage and for longer than the 2008 global financial crisis.
It was already wrecked and heading for a cliff. Austerity brings the cliff closer and reduces it's height. You'll notice the fall and blame austerity but it's better than the alternative.
Someone who has won IOCCC four times and who was the General Secretary of Information Systems at the Greek Ministry of Finance has got to be worth listening to.
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#96Earlier quoted context omitted.
No recourse to public funds applies to only specific work immigration permits all of which would have salary requirements that would make them ineligible to receive these benefits in the first place. In fact applying for or using public funds while on an NRPF visa violates its terms and could result in deportation.
> No recourse to public funds applies to only specific work immigration permits No it doesn't. It can apply to students, spouses, people who are granted leave on the basis of family or private life, to people who have exhausted their appeals to leave, to asylum seekers; etc. http://www.nrpfnetwork.org.uk/information/Pages/asylum-seeke... https://www.childrenslegalcentre.com/resources/no-recourse-p... This hits childr…
Students can’t bring dependants without showing they are financially capable to support them, spouses and children of work permit holders are dependents which also means that their sponsor must meet base salary requirements + additional requirements for each dependent.
The rest are not here legally, are in the process of being deported or are in process of getting a permit so why the fuck would they have access to public funds in the first place?
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#97Earlier quoted context omitted.
I'm not sure about the successful business piece. Look at the protests over tax dodging by companies. I'd say that kind of attitude is common in the US, but less so in the UK. Albeit I'm seeing things from a Scottish rather than English perspective, but I've not seen an appetite for lower company taxes.. My guess for continued support of this kind of policy is that people think other things are more important (e.g. b…
Company taxes are being lowered because last time that was done, tax take went up not down. That is lower corporation tax = more tax revenue and it's revenue that matters.
the only close example I can think of in the UK is the higher rate income tax band bit and that turned out to be clever accountants banking on the fact that a change in gov. would lower the rate so they time shifted income into the period where it was lower...
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#98Earlier quoted context omitted.
I'm so sick of receiving tax cuts I don't need and will literally never notice, alongside cuts to public services that some people really really need being cut, that the Tory party will never win my vote. Well, I say never; never is a long time, but as long as they keep trying to win my favour by cutting my taxes, they can get bent. I'm not some kind of Pavlovian econo-rational robot, and I object to them treating me…
Why don't you just donate the extra money you don't need to charity instead? There's no obligation to fund all social activities through tax. For instance if you don't need a few hundred pounds per year, why not buy a friend private health insurance.
I'd prefer my money went to a central budget and was used effectively at a country level :)
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#99Earlier quoted context omitted.
The ECB has printed €2.4 trillion since 2015 and very little of that has gone to Greece, Italy or Spain. The tap was turned off for Greece by the EU when they refused to help them with debt (mostly owed to German banks) - this was a political decision, as was that to impose stringent austerity on Greece, on people who could not afford it (pensioners etc). It didn't have to happen that way, it was a deliberate choice.…
> to impose stringent austerity on Greece, on people who could not afford it (pensioners etc) So, if they can't afford austerity what makes you think they will repay debts in the future? "Pensioners" yes, usually from an inflated public sector. Untouchables. Who pays the price? The youth What about passing needed reforms? LOL, of course not, that will hurt the inflated public sector and their pensioners, never mind n…
Did the cleaners at the finance ministry deserve to be fired because of arbitrary austerity? Does a grandmother in Athens who worked and paid into a pension all her life deserve a cut in her pension from €1300 to €600 a month? Does the widow of ansailor deserve cuts from €1900 to €650 a month because of a financial crisis far away?
These are real and serious questions.
The worst part of this policy of austerity is that the only thing it is useful for is imposing subjugation on the politicians of Greece, it makes Greece unable to pay for its obligations and unable to recover from them. I agree Greece needs reform, needs to collect more tax, needs more jobs and industry, but pro-cyclical austerity is not the answer for anyone including the debtors of Greece.
This shouldn't be about winners and losers, and fairy tales about evil Germany or corrupt, feckless Greece - it should be about getting Greece back on its feet so it can contribute. The same way the EU helped Spain after Franco or Ireland after the troubles.
Re: UK austerity has inflicted 'great misery' on citizens, UN says
#100Earlier quoted context omitted.
> to impose stringent austerity on Greece, on people who could not afford it (pensioners etc) So, if they can't afford austerity what makes you think they will repay debts in the future? "Pensioners" yes, usually from an inflated public sector. Untouchables. Who pays the price? The youth What about passing needed reforms? LOL, of course not, that will hurt the inflated public sector and their pensioners, never mind n…
There are no easy solutions here, but it's simplistic and wrong (morally and objectively) to claim that the people of Greece deserve the destitution imposed by the EU. I say this as a supporter of the EU project who thinks this was a very dangerous and counterproductive move for the EU. Did the cleaners at the finance ministry deserve to be fired because of arbitrary austerity? Does a grandmother in Athens who worked…
Destitution was not "imposed" to them. While I agree there are issues with the Euro zone/lack of a fiscal union, the end problem is lack of money going in. That shows up as austerity in this case BUT would have shown up as devaluations/debt/inflation in other cases. Coming from a 3rd world country I can say I have experience in this unfortunately (then the "evil guys" are the IMF, etc).
> Did the cleaners at the finance ministry deserve to be fired because of arbitrary austerity? Does a grandmother in Athens who worked and paid into a pension all her life deserve a cut in her pension from €1300 to €600 a month? Does the widow of ansailor deserve cuts from €1900 to €650 a month because of a financial crisis far away?
It's not "fair", and some of those issues are just a fundamental lack of jobs/work (same thing happens anywhere) but the issue is not with them. However it's easier to cut salaries/earnings of those people in your example while keeping the privileges of the higher levels. (See for example faculty/administration wage gap in American universities)
> it should be about getting Greece back on its feet so it can contribute. The same way the EU helped Spain after Franco or Ireland after the troubles.
Agreed, and austerity is not good in itself, it's more like making a fat person starve (which sucks and everybody hates) instead of making them eat better and exercise more (but if they don't do it themselves, then what).