Saturday, April 9, 2011

British businessmen admit that the Tory cuts they supported are causing economic contraction.

In an article entitled Business chiefs who backed coalition cuts raise fears for UK economy the Guardian has reported that a bunch of British "businessmen" who backed George Osbourne's slash and burn economic measures in a letter to the Telegraph back in 2010 have now started to complain that they are not seeing the economic growth they had expected and began talking down the ability of the private sector to create jobs, which is completely at odds the letter's claim that [The private sector] should be more than capable of generating additional jobs to replace those lost in the public sector".

The most surprising thing is that so many of these people referred to as "prominent business leaders" were so shortsighted that they could not understand that if a country's ruling elite pours hundreds of billions of pounds into the banks then prints loads of extra "artificial" money to help their rich mates stay filthy rich, then extracts the costs of these schemes through sacking "alarm clock proles", slashing public services and driving up inflation, whilst millions are suffering the consequences of wage freezes, then ordinary working people are going to have much less cash to buy crap from the half-witted wankers that were publicly applauding these half-baked economic measures as they came in.

The government could have applied strict lending conditions on the banks or let them fold and absorbed the costs into a national investment bank then used all of the money wasted on the bailout to support British industry directly (with 1% loans instead of giving it to the banks for them to lend on to us and our businesses at 12%). Had they done this we could already be seeing good returns on that investment in terms of economic growth and employment, instead we still have exactly the same parasitic economic minority that caused the economic crash through reckless speculation still soaking billions out of the real economy in their massive bonuses and convoluted tax avoidance schemes and all it costs them is a few million in political donations to the nasty party.

Here is a handy list of the people that wrote their stupid letter to the Telegraph in support of Tory cuts, it is always useful to know which companies would like you to boycott them.
  • Will Adderley - CEO, Dunelm Group
  • Robert Bensoussan - Chairman, L.K. Bennett
  • Andy Bond - Chairman, ASDA
  • Ian Cheshire - Chief Executive, Kingfisher
  • Gerald Corbett - Chairman, SSL International, moneysupermarket.com, Britvic
  • Peter Cullum - Executive Chairman, Towergate
  • Tej Dhillon - Chairman and CEO, Dhillon Group
  • Philip Dilley - Chairman, Arup
  • Charles Dunstone - Chairman, Carphone Warehouse Group, TalkTalk Telecom Group
  • Warren East - CEO, ARM Holdings
  • Gordon Frazer - Managing Director, Microsoft UK
  • Sir Christopher Gent - Non-Executive Chairman, GlaxoSmithKline
  • Ben Gordon - Chief Executive, Mothercare
  • Anthony Habgood - Chairman, Whitbread, Reed Elsevier 
  • Aidan Heavey - Chief Executive, Tullow Oil
  • Neil Johnson - Chairman, UMECO
  • Nick Leslau - Chairman, Prestbury Group
    Ian Livingston - CEO, BT Group
  • Ruby McGregor-Smith - CEO, MITIE Group
  • Rick Medlock - CFO, Inmarsat; Non-Executive Director lovefilms.com, The Betting Group
  • John Nelson - Chairman, Hammerson
  • Stefano Pessina - Executive Chairman, Alliance Boots
  • Nick Prest - Chairman, AVEVA
  • Nick Robertson - CEO, ASOS
  • Sir Stuart Rose - Chairman, Marks & Spencer
  • Tim Steiner - CEO, Ocado
  • Andrew Sukawaty - Chairman and CEO, Inmarsat
  • Michael Turner - Executive Chairman, Fuller, Smith and Turner
  • Moni Varma - Chairman, Veetee
  • Paul Walker - Chief Executive, Sage
  • Paul Walsh - Chief Executive, Diageo
  • Robert Walters - CEO, Robert Walters
  • Joseph Wan - Chief Executive, Harvey Nichols
  • Bob Wigley - Chairman, Expansys, Stonehaven Associates, Yell Group
  • Simon Wolfson - Chief Executive, Next

See also 



1 comment:

Megalithix said...

An excellent set of essays and comments here mate! Keep it going! And if y' don't know the fella, check out Max Keiser and his mates. I'll add your blog to my 'Northern Antiquarian' site later on (completely different subject matter, but your politics and honesty is the same as mine and most folk I know).
All the very best - Paul