Bah humbug...is the recession finally over

[GrumpyGregry]

I'm going to be unemployed at Christmas*. Chuffin' hope the recession is over. Though I spose I could sell some bikes and bass gear to make ends meet for a bit.

*yes really but I resigned, my choice.

 

[Turbo Rider]

I don't know really. Only ever been out of work for 3 months at most and I've always had to scrimp, no matter how much I've earned, so I'm not too sure what this word recession actually means in real terms. I am but a chicken in a coop...at least the commutes are fun though

 

[Vidor06]

When the Tories came to power in 2010 they started their austerity measures and it appears from where I look that the public sector in GB took a bit of a battering. However, in NI the executive parties stuck their heads in the sand and ignored the reforms. Now in 2014 they have run out of money and run out wiggle room and the cuts they are proposing have the potential to be devastating to the NI economy, which is largely based on the public sector. Working in the public sector is now very worrying as no ones job appears safe. The executive parties are openly talking about broken street lights not being fixed, grass in public areas not being cut and a drop of places for students of around 10-15000.
At the same time as talking about civil service jobs cuts in the region of 10000 they are asking for the devolution of the powers to raise corporation tax. How they can ask for that power when they have so mismanaged the current budget is baffling. Also if 10000 people lose their jobs and become economically inactive and the benefits of the devolution of corporation tax takes 5-10 years then the economy may have imploded anyway.
As you might be able to tell I am concerned and when taking stock of what else I could do instead of working in the public sector it causes me further angst. The recession may only just be about to bite here.

 

[jonny jeez]

I'm going to be unemployed at Christmas*. Chuffin' hope the recession is over. Though I spose I could sell some bikes and bass gear to make ends meet for a bit.

*yes really but I resigned, my choice.

Whilst I can't condone this...I did sell a VG Strat, Marshall amp, pod x3..and all sorts of unneeded stuff to make ends meet a few years back.

I always planned to reinvest but now I have the means, interestingly I no longer feel the need and would prefer a weekend bike.

 

[jonny jeez]

I'm pleased the SE is booming, that's my experience too. Just waiting for the feel good effect to move northwards. People in the industry up here expect things to pick up in the second half of the year.There are some bright spots already but it's very dependent on interest rates staying at zero or 0.5% for the foreseeable future.

Not just a South East feel.

I only deal with interior Architecture Arch but that, coupled with a new position with a global firm has vaulted me from twiddling my thumbs in London, to flying back and forth between Paris, Dublin, Scotland and London on some really large projects ( for me large is 150-300,000 sq ft) Dublin in particular is very buoyant, with some really big investments in property and estates.

 

[screenman]

Two big redundancies in my trade coming up, possible 200 from Autoglass, and a lot from Auto Windscreens, so sad at this time of year.

 

[jonny jeez]

Johnny, one of your lines mentions the word normal, I just wondered what normal is.

Yep, I thought quite a bit before using that word but felt it appropriate as it really refers to whatever we each feel is usual, by comparison to our past.

Although my definition of normal will be a world away from others and has...through this rather cathartic process...adjusted itself over the last 6 years...I like to think I'm healthier for it.

Nowadays all my disposable income is spent on savings, and family related stuff...mostly home related. I still make exceptions but even they are adjusted. Where I used to spend Genuinley daft amounts of cash on a flash car, I now invest a smaller fortune on a flash bike...and save about £60k! in the process. Thing is, nowadays when I do spend money on me, I do so more as a reward or from a sense of having earned it...not out of a feeling of entitlement.

By the way, thoughts of a flash bike have already been sacrificed at the alter of the great tax bill.

For now.

 

[Archie_tect]

Not just a South East feel.

I only deal with interior Architecture Arch but that, coupled with a new position with a global firm has vaulted me from twiddling my thumbs in London, to flying back and forth between Paris, Dublin, Scotland and London on some really large projects ( for me large is 150-300,000 sq ft) Dublin in particular is very buoyant, with some really big investments in property and estates.

You can go off people...
I've sacrificed what I get out of the business to support the 3 people I employ so that their salaries get paid [I've kept their PAYE salaries the same all through the recession] on the dot every month... I've averaged about half of what they each get every month this last year but I'm expecting things to improve in 2015.. Mrs A_T thinks I'm daft but I just hope they appreciate it when we're stowed out with work again.

 

[marinyork]

Don't think there's any recovery in the north outside the Manchester area.

 

[threebikesmcginty]

Don't think there's any recovery in the north outside the Manchester area.

Our factory in the North East has made a bit of money this year after struggling for years, we've never made anyone redundant there and now it's kind of paid off and everyone feels a bit more confident, been bloody hard work though.

 

[CopperBrompton]

They say you have underpaid and then 12 months down the line final realise how incompetent they are and then refund you it back!

When I was on PAYE, I got a letter from HMRC at the end of the tax year saying I owed them £69. Didn't understand why, but wasn't going to argue for the sake of £69, so sent them a cheque.

The following year, I got a letter stating that I had overpaid tax by £69, and they would send me a cheque (which turned up about four months later).

The next year, guess what? That £69 went back and forth between us for about eight years.

 

[jonny jeez]

When the Tories came to power in 2010 they started their austerity measures and it appears from where I look that the public sector in GB took a bit of a battering. However, in NI the executive parties stuck their heads in the sand and ignored the reforms. Now in 2014 they have run out of money and run out wiggle room and the cuts they are proposing have the potential to be devastating to the NI economy, which is largely based on the public sector. Working in the public sector is now very worrying as no ones job appears safe. The executive parties are openly talking about broken street lights not being fixed, grass in public areas not being cut and a drop of places for students of around 10-15000.
At the same time as talking about civil service jobs cuts in the region of 10000 they are asking for the devolution of the powers to raise corporation tax. How they can ask for that power when they have so mismanaged the current budget is baffling. Also if 10000 people lose their jobs and become economically inactive and the benefits of the devolution of corporation tax takes 5-10 years then the economy may have imploded anyway.
As you might be able to tell I am concerned and when taking stock of what else I could do instead of working in the public sector it causes me further angst. The recession may only just be about to bite here.

I have a good deal of sympathy with public sector workers. Although it wasn't always the case.

Whilst I was struggling they seemed unaffected and to be honest it wound me up that my salary was halved whilst "they" went on strike because they didn't get a pay rise.

But the thing is, whilst public sector wages are considered more "for life" than private, that goes for negative changes too. So when teachers or fireman get a pay cut, it's for life...not just the next year or so.

Whilst normal service is now resuming for me, my public service mates are under massive threat of salary, pension and working hour cuts that will effect them for decades.