Recession

[Sneds]

So it's to be announced tomorrow that Britain will have finally emerged out of the recession, with a growth of 0.4% in the last quarter, after suffering a total loss of around 6% on the economy.

Assuming we don't slip back into it, how have you coped with the recession, and how many people blame bankers for being the straw that broke the camels back? x

 

[CliveW]

Bankers weren't the last straw, they were the total load!

 

[Whereditgo]

Assuming we don't slip back into it, how have you coped with the recession, and how many people blame bankers for being the straw that broke the camels back? x

Where to start

A builder went bust on me owing 200K, the building company unbeknown to anyone had been under the control of Pr1ce W4terhouse for the previous year on the instruction of the bank with the sole aim of reducing the banks exposure as much as possible.....lost my business.....the mrs cleared off about a week later.....and to finish the year off pleasantly my daughter slipped on the ice and broke her tib and fib on boxing day.....just out of hospital a week or so.

Bitter towards banks.....YOU BETCHA!!!!!

 

[JustOne]

Assuming we don't slip back into it, how have you coped with the recession, and how many people blame bankers for being the straw that broke the camels back? x

Good. Business is as strong as ever (internet), mortgage got fixed for 5 years at a low rate. I was pleased to join a golf club that had waived the £500 joining fee and I've played more golf than I thought I might.

A builder went bust on me owing 200K, the building company unbeknown to anyone had been under the control of Pr1ce W4terhouse for the previous year on the instruction of the bank with the sole aim of reducing the banks exposure as much as possible.....lost my business.....the mrs cleared off about a week later.....and to finish the year off pleasantly my daughter slipped on the ice and broke her tib and fib on boxing day.....just out of hospital a week or so.

Bitter towards banks.....YOU BETCHA!!!!!

Ouch! There's not a lot one can say about that kind of a year. Hope your daughter makes a fast, full recovery.

Best regards...

 

[Parmo]

Not that much really, the only thing worrying me is if the Tories get elected my income tax will increase and public services front line will be slashed.

 

[Imurg]

It did hit me during the early part of last year but then I went independant and business has boomed ever since. Best thing I ever did work-wise - just wish I'd done it a few years ago.

 

[TRS30]

For me it was more the government that are to blame, at least over here.

There were in bed with the banks and property developers and rode the one trick pony for all it was worth and have inflicted a massive burden on a whole generation.

 

[viscount17]

Not that much really, the only thing worrying me is if the Tories get elected my income tax will increase and public services front line will be slashed.

well that's one worry less then, your tax will increase and public services will be slashed no matter who gets in - and no matter what they say now.

they're all self-serving, lying b's - always have been, always will be

 

[slugger]

Was listening with interest (probably for the first time ever) to a financial expert this morning who reckons that as soon as the election is over, it's more than likely that the uk will slip into recession once again. What Labour are doing to combat the recession at the moment are only for short term gain to enable them to market their election campaign on it....

only time will tell though.

personally, i've not been overly affected as we're both still in jobs and they look to be secure.

best wishes to anyone who's hit hard times though... can't imagine how hard it must be.

 

[Robobum]

Grreeeeat!

With the freeze on a pay rise and our bonuses, I have effectively suffered a 15% pay cut. Plus the general feeling that the company line is now "just feel damn lucky you have a job!"

 

[mancity101]

as a local government officer i suppose i am lucky to be in a safe job, however without strike action looks like we will only receive an annual pay increase of 0.5% - which against cost of living is ludicrous. Also benefits are expected to have an annual uprate with effect from 1st April of 12% so atleast my taxed pay is going to increase the lifestyle of the unemployed. Plus with the increase in unemployement benfits the demands of my job have increase enormously in line with high stress but not reflected in pay....but I suppose I am lucky to have a job and at least I have paid my mortgage off aged 46.

 

[Ethan]

Not that much really, the only thing worrying me is if the Tories get elected my income tax will increase and public services front line will be slashed.

well that's one worry less then, your tax will increase and public services will be slashed no matter who gets in - and no matter what they say now.

they're all self-serving, lying b's - always have been, always will be

Tis true. Tax rises are inevitable, although it remains to be seen if either party has the Titleists to apply a special tax on banks bailed out by the public purse. I rather doubt it.

There are some aspects of public spending where cuts should be made - the subsidised private healthcare companies and ISTCs, NHS IT projects and spending on management consultants should stop even if money was growing on trees.

 

[EaseNgrace]

When the recession first took hold I was out of work for nearly 8 months, there were literally no construction jobs available in Norwich during this time. Since things picked up again I have had plenty of work but im earning at least 40% less, no word of a lie.

 

[pokerjoke]

Dont worry mate were out of the recession as from today its official,the economy figures shows it has grown by 0.1%,think i will go on a spending spree.

 

[HomerJSimpson]

I guess I'm luckier than some being an NHS employee and so relatively safe from redundancy. However with negligible payrises and a pay freeze imminent means I'm effectively worse off. However with HID not working since November and the temp/perm markets still being really slow with many companies still having recruitment freezes I think any sign of improvement will be a long time coming

 

[Dave3498]

What is the 'UK Economy?' Whatever it is' it must be terribly difficult to work out a growth of 0.1%. I suspect that the margin of error on such a calculation would be in the order of + or - 5%, so the economy is really +5.1% or -4.9%. They are the real figures, you pick one.

 

[AMcC]

however without strike action looks like we will only receive an annual pay increase of 0.5% - which against cost of living is ludicrous.

I think you want to spend some time in the real world.

Our firm was hit hard by the downturn, particularly the property market fall. We paid off approx 60 staff out of 300 and we all had a pay cut. At my level it was a 15% cut and only recently had 7.5% reinstated. So no sign of a pay rise likely in the near future, but lucky still to have a job.

I regularly deal with local government people and regularly hear them commenting on no pay rise !!! You may be different but most of the local government people have become institutionalised and would not last 2 seconds in the real world of private practice.

My take on the whole thing was that a very high percentage of the governments income came from the square mile and essentially poor business planning - all their eggs in one basket. Also if you could stand and breathe they would give you finance to do what ever you wanted.

 

[Herbie]

Government and Banks to blame all the way both equal in my view.

We may be seeing a tad of growth suggesting everything is heading back to the peachy, but beware as the lader is still very very empty with zip to fall back on.

This current shower of **** have been instrumental in leading us down this path, their list of cockups are endless, anyone who replaces them has a mountain to climb, very much a pattern when Tory takes over from labour and a reason for much dislike of tory's is the fact that too many times in the past, Labour balls up everything and leave us with debts and costs we all have to pay for and the Tory's preside over the painful Tax and cuts to bring us to a stable playing field. I have no particular favorites in politics today, I'd like to see all of them out and a completely fresh start( preferably with no scottish in the cabinet or top jobs), but realistically we have to use what weve got, and anyone planning to re-use Labour must be a little mental. We have already allowed an un-elected git to be PM when the real PM is a trickster, un-elected yet keeps comming back alive in the shower (If your old enough to remember Dallas) yes, PM Peter Mandleson.

 

[KeefG]

We've been lucky in our household!

I got a 12% payrise in October and the wife got a new job which she started in December so our family finances are better now than they have ben for a while.

 

[brendy]

Where to start

A builder went bust on me owing 200K, the building company unbeknown to anyone had been under the control of Pr1ce W4terhouse for the previous year on the instruction of the bank with the sole aim of reducing the banks exposure as much as possible.....lost my business.....the mrs cleared off about a week later.....

Every cloud and all that eh?
Hope the little'un is feeling better.