Thursday, November 27, 2008

Preaching and practising

The Government is screaming at us all to spend to save the nation and yet Northern Rock yesterday raised some of its fixed rate mortgages and Ofwat is suggesting that the UK water companies should reduce their capital expenditure plans. Meanwhile David Cameron, who had been so scathing about the Govt mooting the possibility of abolishing stamp duty for first time buyers before daring to implement the policy, is now hinting that as PM he may phase out final salary public sector pensions, although he hasn't yet "ruled any option in or out."

3 Comments:

Blogger kinglear said...

I keep telling everyone - the way out is saving - we will have a horrible slump, but thereafter it will be OK.

11:02 am  
Blogger Welshcakes Limoncello said...

All I know is that if you have any money, whoever is in power wants to take most of it from you!

9:14 pm  
Blogger Winchester whisperer said...

Hi KL - saving in sterling does not seem to be a great option to me. Gold could still be a good hedge.

Salve WL - yes, it is all too depressing. Our office Christmas party has been cancelled.

8:52 am  

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