Poor government management
The government of the United Kingdom has gone through heavy scrutiny off late by calling for increase in Bank Levy by 800 million pounds to a total of 2.5 Billionn British pounds as well as the closing of the council supported establishments of the Manchester City council which includes swimming pools, libraries and youth centers to save 109 millions pounds – as a consequence; 2,000 jobs will be lost.
What is the consequence of all this? The battle in the House of Commons – Osbourne Vs Ed balls has just gone to show that the parties fail to recognize certain common grounds that parties need to work on. One thinks government cuts are need, another says these cuts wont help. Manchester City is not the only council that wants to cut down, it is a process of cuts downs taking place in many other councils as well. At the same time VAT has gone up which will now be charged at 20% and the 40% and 22% tax bracket has now come down.
The expected growth in the last quarter of 2010 which would give the growth profile a flatter look at 0.4% growth has instead dropped to 0.5% decline. Osbourne blames the bad weather has been majority responsible for 0.5% fall, however Ed Ball takes example of its US counter parts and stated ’what is the difference between snow’- both countries had severe snow falls the US didn’t fail to stimulate sales – United Kingdom did. With all this in the picture already, something else in background gave us a reminder today. Cambridge will be making use of the 9000 pound maximum in order to ensure ’standards of quality education’which I believe they shouldn’t impart on basis of who can afford it but instead WHO DESERVES IT. The bread earner of the family now faces trouble as recent graduates find it hard to find jobs – What is the government doing?
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