BBC Series on the Economy and road ahead

[kenfrapin]

For all those out here criticizing some practical truths that we members advice on or for those who think we are being too negative the BBC Series on Money Watch that aired tonight @ 9pm is a great show to watch. It is a 3 part series so there are 2 more to go.

The show in general is about the economy and money in peoples pockets so covers an immense area and steps on so many things. I just got a glimpse, at the right time I must add, and it stated
1. Thanks to the recession and huge debt, the economy will contract/shrink gradually for a while now and then pick up again.
2. Similar to Canada, huge govt spending cuts will continue and affect the country for atleast 5 years from now
3. This year alone, the lowest income slabs will lose £200 more and highest slabs will lose £1600 - Add to this that majority of the firms have already frozen salaries for 2 years now and even cutting jobs. This may increase going ahead.
4. Govt cuts and higher taxes will reduce employment opportunities - obvious as fewer businesses will flourish and those open currently will trim their numbers. They say it will shrink because businesses are meant to grow in time in any country. Instead UK will see a period of lower job openings and high taxes just to get their debts down. Bank interest rates are at their lowest and yet there are hardly any Small and Medium businesses opening up which is alarming but expected.

This is something we all know right - but the program is aimed at UK Residents. Specifically for this forum, factor in all the above that will affect people ALREADY here and working and then think what will become of those who want to 'pack their bags' and come in here thinking the market is good with a lot of chances.

Just posting this for the benefit of all - there are still amazing jobs and roles that pay way above £60k but to get those you have to be in the right place at the right time and with the right skills - for the rest of us, it just keeps getting tougher and tighter.

So think well before you decide to have a fancy ride and plan to spend all your money job hunting - it may turn out to be one very expensive trip to the UK and nothing more!!!

KP