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  Phil Voice October 21, 2010 at 8:30am

  Here's the HM Treasury information on the 2010 spending review.
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  Graeme @ BGS October 21, 2010 at 9:23am

  There is a lot to take in and I don't think we will have the full picture for some time. However it looks like it will hurt a lot of people and I am not too sure those at the top of the earnings will see a major blow.
  
  GB PLC are paying £120M per day in interest - I can appreciate why spending cuts must be made but not sure if it will be fair across the board.
  
  Of immediate concern as a business is the VAT and fuel duty increase come Jan.
  
  Will the "cuts" impact my business? Short term I am sure it will have some minor impact but could also open up some new possibilities - always said 2011 will be an interesting year but I believe it will have an impact on "life" for the next 5 - 10 years. Certainly now is a good time to review your business model if you haven't already.
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  Fenlandphil October 21, 2010 at 10:10am

  I think we will be back into recession in pretty short order.
  The worry will be high unemployement and a lack of a decent manufacturing base as an engine of growth. Higher inflation rates are likely with VAT increases.
  I don't think the pain will be fairly shared and it is the less well off, that as usual will suffer most.
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  David Cox October 21, 2010 at 11:59am

  It was unavoidable, and without it long term their would be much much more damage and lasting problems - On the Radio (either BBC leeds or Aire) someone compared it to chemotherapy, the medication will be awful and painful, but the alternative is potentially far far worse. So really it is the best of a bad situation, and with 120m in interest a day - that a hospital a day, 4 schools built, etc etc, so brining that down is vital.
  Besides Labour are not offering an alternative, just some hyperbole about where the cuts would fall - all very academic.
  
  Looking at the strategy for removing the structural (not the bank caused) deficit, there is hope that once done, the coffers will be in rude rude surpluss, so we can either pay off our £1trillion debt, or continue to follow the libdems idea of making the tax system fairer by cutting lower paid tax rates, leaving the higher tax bands intact.
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  Fenlandphil October 21, 2010 at 12:10pm

  With the greatest possible respect to all of you involved in the service industry, the only way you actually create wealth is to produce either finished products by taking a raw material and turning it into a finished product, adding value to it, mining or by growing something.
  Everything else just circulates the wealth already created.
  Until we as an economy go back to these principles we will continue to decline, either needing to borrow or becoming more impverished.
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  chris nangle October 21, 2010 at 4:28pm

  
  hit the nail firmly on the head there phill ,lets see if the condems can put there money were there mouth is re manufacturing and new high tech industrys I hope they will. the science budget was good news i wish they would have done a lot more ,i had some help from advantige west midlands before its cut, new start upps will need support from thease kind of groups I hope they can get that help if we are to work our way out of this
  
  Fenlandphil said:

  With the greatest possible respect to all of you involved in the service industry, the only way you actually create wealth is to produce either finished products by taking a raw material and turning it into a finished product, adding value to it, mining or by growing something.
  Everything else just circulates the wealth already created.
  Until we as an economy go back to these principles we will continue to decline, either needing to borrow or becoming more impverished.
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  T & S Plants October 21, 2010 at 6:44pm

  The problem is that the whole proposed cuts are based on the economy growing.
  
  So a little closer to home, how many Companies on LJ are looking to take on new employees in the next 12 months?
  
  With the cuts there will be 500,000 people fewer employed in the public sector, and a projected related 500,000 in the private sector as a knock on effect.
  
  So 1 million people claiming benefit, not paying tax, and looking for a job.
  
  So out of interest, how many of us in the private sector, (which the Government holds as it's salvation) will employ more people next year?
  
  For if the economy does not grow as forecast, it will not be just 1 million people unemployed, and all of the cuts will multiply next year.
  
  If people are not employed within the private sector or any sector for that matter, that's 1 million less customers out there for Landscaping, Design, and selling plants to.
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  chris nangle October 21, 2010 at 7:17pm

  at the start of the year i was going to employ one more guy but i held back glad i did now with the scraping of the school rebuilding .A few of my suppliers have laid staff of ,i had a meeting on monday with an architect who had 7 staff last year now they have 4.
  the list goes on,that is why i was saying about building cutting edge social housing architect designed skilled trade made,would be good for all of us,I fear young profesionals architects enginers ext will look at the country and say f*ck this for a game of soilders im off to work in aisa or some were were my skills are valued,we could end up with a huge brain drain.
  why do we let corparations and super rich avoid paying 100 of billions in tax every year? just mad instead of chasing immigrants single mothers and other easy daily mail targets ,we should be going after vicount rothermere the owner of the mail who avoids around 18 million per year in tax WTF how do they get away with it? he claims to live in france but owns a huge mansion in whiltshire his kids go to public school in the uk ,bloody hell the mail is owned by a french tax dodger sounds like one of there headlines LOL
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  T & S Plants October 21, 2010 at 7:42pm

  A very good friend of ours, employed by a large UK Nursery, has recently been put along with all of his colleagues on a 32 Hour week.
  
  It's starting to bite!!!
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  David Cox October 21, 2010 at 7:48pm

  That taxbill was actually 'relieved', largely due to the previous governments castrated stance. As such it would be a legal can 'o' worms to force the payment. More worryingly they will continue to avoid paying tax....
  http://forums.contractoruk.com/general/59107-vodafone-tax-avoidance...
  
  
  
  Jez @ Hedges and Lawns said:

  I read an article form the Independent claiming that Vodafone had an outstanding tax bill of £6 billions deferred by Osbourne. If they had been forced to pay it a lot of the cuts could have been avoided.