RBS is the latest bank to announce job losses - 2,000 in its case.
It follows the announcement of thousands to go at HSBC and Barclays earlier in the week.
Where did all the jobs go George? Weren't these just the people who were meant to be rushing in to create new jobs because of the bright new future you were offering because cuts in state spending were a guarantee that better prospects and rosy prosperity were just around the corner?
Or is it actually the case that contractionary fiscal expansion really doesn't work like that, because it doesn't work at all?
I know you won't listen to me. But based on the evidence I'de say your friends in banking might just be telling you something that you might be wise to listen to.
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The Independent has a nice graphic for the changing picture for 2011 UK growth forecasts
http://www.independent.co.uk/multimedia/archive/00632/splashG_632081a.jpg
We should be asking ourselves how an economic illiterate came to be chancellor in the first place, not how to educate him or change his mind. George’s one qualification seems to be that he has a rich daddy. We have a problem here that runs far deeper than Osborne’s obvious unsuitability, the context in which he can aspire to such a position itself needs to be re-examined. Look at your Osbornes, your Camerons, your Cleggs… given all the educated and clever people we have available in this country, why are only ignorant rich people in charge?
BB
My understanding is that HSBC is cutting 700 jobs in the UK and that all their UK job cuts were announced before this week (http://www.bbc.co.uk/news/business-14362471). I haven’t looked into the others. Obviously it’s still a long way from job growth, but you make it sound as if they’ve just announced 1000s of UK job losses.
HSBC announced 30,000 jobs to go, 5,000 in the Uk when doing their results
Fair enough, though I would have thought that the link I posted was about their results, especially as it’s from this week, talks about cutting 30000 jobs and says “HSBC is the first of the UK’s major banks to publish its half-year results”.
In relation to this, have you read about the government’s intention to sell off Northern Rock due to much improved performance figures?
However, the banks Asset Management sector, that part of the bank that holds all the bad debts, is NOT going to be sold off!
Privatise the profits – socialise the losses!
Unbelievable!
Except it’s true
Over regulation of the market crushes growth, and in any event its easier to live off the socilist state. “Hey if I get fired the government will give me money…”
I find such comments at this moment so ridiculously stupid
Haven’t you noticed all you argue for has utterly failed?
And that from 1946 to 73 the UK never suffered anything like the crashes from 1987 on?
When has the market been ‘over-regulated’? Both New Labour and now the Coalition have let the banks and finance houses get away with murder.
This government is now in the process of cutting health & salety regulation, cutting corporation tax and capital gains tax in an attempt to attract foreign investment.
There has been several decades of this deregulation , so where, pray, is the growth? Do you perhaps mean the 0.2 percent growth figures recently announced?
Solid proof that deregulation really works!