UK Government Waters Down Gigabit Broadband Goals Amid Spending Review

[WYP]

15% of the UK's households just got shafted.



Read more about the UK watering down its Gigabit broadband rollout plans.

[RobM]

I would not agree with "shafted". Things have changed so much this year and with borrowing at an all time high the less important stuff will have to give way.

[Dicehunter]

Originally Posted by RobM

I would not agree with "shafted". Things have changed so much this year and with borrowing at an all time high the less important stuff will have to give way.

It doesn't help that as of this moment there are over 1000 quangos in the UK that are all soaking up vast amounts of tax payer money and none of them are needed in any way shape or form and it keeps getting worse.

Honestly who would actually miss "the bureau of statistical analysis of landfill management" ? These types of utterly useless things are everywhere in the UK and setup simply as jobs for the old school boys, The UK needs a very major reshuffle top to bottom to get this crap out.

[tgrech]

While both are true, interest rates are at all time historic lows, now is the best time to "borrow" in a century, "borrowing" now could save Bns in interest on future borrowing. Of course in the UK none of it is actually borrowing because the govt controls the Bank of England that issues the currency, so the govt. is actually just "borrowing" from another element of itself, the bonds are readily bought up at the moment because spending now would so obviously deliver benefits to the recovery. The BoE is currently quantitative easing ("printing") hundreds of Billions of new money into supply with no impact on inflation because it's all going straight into increasing productivity or consumer spending. The idea that we should be cutting back on critical infrastructure spending because of an economic "finite finances" fallacy created by the British media elite will hamstring any recovery and ensure it's as flawed as Britains shockingly slow recovery from the 2008 economic crisis.

This is the first steps to austerity, a tried and failed approach economically that exists primarily now as a political tool to underfund services to then justify privatisation, inevitably ending with MPs selling off assets to their family and mates in underhand deals, just as Matt Hancock did recently amongst his many colleagues who have done similar during this pandemic.

[Dicehunter]

Originally Posted by tgrech

While both are true, interest rates are at all time historic lows, now is the best time to "borrow" in a century, "borrowing" now could save Bns in interest on future borrowing. Of course in the UK none of it is actually borrowing because the govt controls the Bank of England that issues the currency, so the govt. is actually just "borrowing" from another element of itself, the bonds are readily bought up at the moment because spending now would so obviously deliver benefits to the recovery. The BoE is currently quantitative easing ("printing") hundreds of Billions of new money into supply with no impact on inflation because it's all going straight into increasing productivity or consumer spending. The idea that we should be cutting back on critical infrastructure spending because of an economic "finite finances" fallacy created by the British media elite will hamstring any recovery and ensure it's as flawed as Britains shockingly slow recovery from the 2008 economic crisis.

This is the first steps to austerity, a tried and failed approach economically that exists primarily now as a political tool to underfund services to then justify privatisation, inevitably ending with MPs selling off assets to their family and mates in underhand deals, just as Matt Hancock did recently amongst his many colleagues who have done similar during this pandemic.

Yep, The main issue with the UK, And it's been this way for the longest time, Cronyism, It's never been what you know and what your skill base is, It's always been who you know and what type of handshake you have, It's why the UK is in such a subpar state as we have people who don't have a clue about real life telling people how to live while spending tax payers money, Nothing other than a full blown revolution would need to be had to fix it but people in the UK will simply kowtow and get on with their day while the fat cat "I say what what Giles" types get richer, The poor get poorer and the cost of living keeps going up and up.