Get into more debt
June 26, 2009
I wonder if you can help me out on this one….
BA has just arm-twisted 7,000 people to work for free for a month – in effect take a 8% pay cut.
The message from the top is: take pay cuts, reduce your pay expectations or lose your job.
How does that square up with the government encouraging us to go shopping, to ’save the economy?
How are we going to do with that if we get less money in our hands?
Ah, now I get it…. we are meant to borrow more.. on credit cards.. to make up for the drop in income.
So that’s it.. the problem and the solution are the same!
When the executives decide to return their bonuses from, say the last three years when they were running their businesses in to the ground …… and energy bills for example halve, then we can consider ‘helping out’.
Meanwhile, we could ask the Trade Union Leaders to work for nothing -since they are standing at the sidelines, totally bemused and ineffective.
Farid Bakht
Parliamentary Candidate, Bethnal Green & Bow
studentmedic
faridbakht
June 26, 2009 at 7:26 pm
It doesn’t square up at all! I work for a repro company that has M&S as the main client. M&S are demanding a 45% reduction in the fees charged. The result is everyone where I work being forced to not only take a pay cut but also to have our working week increased from 40 to 45 hours per week! So as well as being completely knackered at the end of the week, we’ll have a lot less money to spend. As none of us are keen on running up massive credit card bills or overdrafts, this means a drop in consumption which will hurt retailers such as M&S. So we have a self reinforcing downward spiral. In an economy that was over reliant on the consumer to keep it afloat during the boom years, this means problems. Trust me, the fun is only just starting!