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Originally Posted by andrewb
For a start I believe they'll soon come out and scrap the National Insurance increase set to come in April 2011. That's a tax on jobs and the completely wrong thing to do to get out of recession.
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An increase in National Insurance is not only prudent, it is also slightly more palatable for the working masses. We are currently facing future problems with pensions in this country and I would rather increase my NI contributions each month and sort that out than speed up the bailout that the banks have left us with.
Yes, there are governmental faults in the way the banking situation was allowed to run out of control but the recession is a short-term problem whereas National Insurance contributions are a long-term investment for the whole country.
Recessions come in cycles and this is nothing new. By 2030 we'll have seen the same banking crisis and everyone will come out to state that this must never happen again. Think long-term.
What the banking sector really needs is the best kick in the nuts we've ever seen. It's all good and well for David Cameron to criticise but does he really have the chutzpah to do it? Time will tell if he gets in.