Is Britain going to start suffering like never before.

As the new government is gearing up to release one of the toughest budgets in years, how will effect us all. We already no the Tory's have gone back on an election pledge, they said they would not increase VAT and criticised the Labour party for stating they would increase it, and what a surprise the Tory's are know going to to try and increase the VAT level up to 20% - also the government might add this onto the at present non VAT products (food & baby clothes).
The Tory's actions are very controversial, with stating that the government needs to start saving money, then in the next breath creating a so called 'free school' system to allow the middle classes to school their own children and be self governing and control how much teachers get paid (all this money comes from us the tax payers). The Tory's are unwilling to increase the basic tax rate, because this will hurt the hard core Tory supporters (middle class and rich).  

At present Britain is in danger of having a double dip recession (that's if you believe we have left the first recession), one of the major problems with heavily cutting back all in one go is that the government will not be able to restore it later.

We have all enjoyed very high levels of health care, police cover, education,  local council utilities & house prices. But unfortunately all this was heavily hit by the global economic situation, I feel leaving the EU & USA to level out will have an impact upon our own economic situation, before we start cutting away.

Further regulations are required to handled Britain's out of control banking system, the public have invested far to much money into saving our private banking system. Britain was moments away from having a major high street bank close, this would have caused more dramatic economic problems than we have know.

So if you are on a lower income, or receive any benefits then 'Bloody Tuesday' will change your life.

The Tory's seem to be protecting business and sacrificing the lower paid public, the more the spare money the general public have then the more money is pumped into the economy.

EU to press for Europe-wide tax on banks

All European nations should introduce a similar upfront levy on banks, the EU internal market commissioner is expected to announce later.

Michel Barnier will suggest proceeds should go into a fund to insure against future financial failures.

UK Chancellor George Osborne backs such a levy but would prefer national governments to have more freedom to decide how the money is spent.

The move is among the global attempts to tighten up banking regulation.

A Senate bill in the US containing the biggest overhaul of banking regulation since the 1930s is awaiting approval by the House of Representatives.

An independent commission is being established in the UK to look at breaking up banks into their retail and investment banking arms to reduce risk.

Meanwhile, EU ministers recently voted to curb the activities of hedge funds and certain other investment funds.

Recklessness fear Mr Barnier will suggest the money raised by the levy should go into so-called national "resolution" funds, to pay to unwind banks that run into the kind of difficulties seen during the credit crisis of 2008.

"The commissioner will say that the resolution funds would be used only to provide the kind of temporary finance required to lubricate the break up of big banks" Robert Peston: European bank tax

 A common criticism of such schemes is that they could induce recklessness if the bank knows there is a permanent bail-out fund.

The BBC's business editor Robert Peston says Mr Barnier is expected to allay the chancellor's concerns in this area and point out that it would only provide temporary finance at the time of a collapse.

 The Conservative-Liberal Democrat coalition has said there may be a case for two new taxes on banks - one on what they borrow and another on their profits.

Sourced from the BBC

British jobs for British workers

Deal hope in foreign workers row

Workers say the action is not racist, but about discrimination against Britons

A possible deal to end the row over the use of foreign labour at Lincolnshire's Lindsey Oil Refinery will be put to local union leaders and workers later.

The proposal emerged after talks chaired by Acas.

A GMB union source told the BBC the deal could see half of the disputed 200 jobs offered to British workers, but the Unite leader has denied this.

Hope that new 'half-and-half' deal in foreign workers row could end wildcat strikes

A proposed deal that could end the bitter row over foreign workers at an oil refinery will be put to unions today.

Marathon talks aimed at ending a series of wildcat strikes at Lindsey plant in Lincolnshire ended last night with the outline of a possible deal.

Union sources said it involved offering half the jobs of the disputed recruitment contract to UK workers.

Downturn will bring big fall in migrant workers, says CBI

Companies facing decline in demand for goods and services will reduce their use of agency staff, MPs are told

The use of migrant labour in Britain will decline abruptly as companies face a sharp fall in demand for their goods and services, the Confederation of British Industry told MPs yesterday. John Cridland, the CBI's deputy director general, told the Commons home affairs committee that the first response of many firms to the downturn was to reduce their dependency on agency staff, many of whom are migrant workers.

He said that there was evidence that many nationals of new EU states were going home as unemployment rose in Britain and suggested that the flow of skilled migrants from outside Europe would also decline. He added: "I expect that, when we have the next report from the [Home Office's] migration advisory committee on the needs for skilled labour, we will not see the same need for non-EU labour in the same numbers because of the need to provide as many employment opportunities as possible for the unemployed. All I'm suggesting is that the market will correct itself, but what we cannot avoid is a significant increase in unemployment, which is a sad but inevitable consequence of recession."

read full articles Click here

British jobs for British workers

Deal hope in foreign workers row

Workers say the action is not racist, but about discrimination against Britons

A possible deal to end the row over the use of foreign labour at Lincolnshire's Lindsey Oil Refinery will be put to local union leaders and workers later.

The proposal emerged after talks chaired by Acas.

A GMB union source told the BBC the deal could see half of the disputed 200 jobs offered to British workers, but the Unite leader has denied this.

Hope that new 'half-and-half' deal in foreign workers row could end wildcat strikes

A proposed deal that could end the bitter row over foreign workers at an oil refinery will be put to unions today.

Marathon talks aimed at ending a series of wildcat strikes at Lindsey plant in Lincolnshire ended last night with the outline of a possible deal.

Union sources said it involved offering half the jobs of the disputed recruitment contract to UK workers.

Downturn will bring big fall in migrant workers, says CBI

Companies facing decline in demand for goods and services will reduce their use of agency staff, MPs are told

The use of migrant labour in Britain will decline abruptly as companies face a sharp fall in demand for their goods and services, the Confederation of British Industry told MPs yesterday. John Cridland, the CBI's deputy director general, told the Commons home affairs committee that the first response of many firms to the downturn was to reduce their dependency on agency staff, many of whom are migrant workers.

He said that there was evidence that many nationals of new EU states were going home as unemployment rose in Britain and suggested that the flow of skilled migrants from outside Europe would also decline. He added: "I expect that, when we have the next report from the [Home Office's] migration advisory committee on the needs for skilled labour, we will not see the same need for non-EU labour in the same numbers because of the need to provide as many employment opportunities as possible for the unemployed. All I'm suggesting is that the market will correct itself, but what we cannot avoid is a significant increase in unemployment, which is a sad but inevitable consequence of recession."

read full articles Click here