Counting the cost of spending spree
Your headline, "Spend! Spend! Spend!" (Mercury, December 27) put me in mind of another notorious spender who used the same phrase when asked what she would do with her £150,000 football pools win (probably £3million in today's terms).
The woman, Viv Nicholson, did spend and within 15 years was penniless and had run up many debts.
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Some of the money spent at the Boxing Day sales will, no doubt, have been saved by hard-pressed people and spent wisely. But, I suspect that many will have been spending money they do not have.
The reckoning will come when the credit card bills arrive in a few weeks. No doubt many will regret their unnecessary purchases.
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On the other side of this coin, 80,000 people were homeless this Christmas, many are living in fuel poverty and thousands of families are struggling to put food on the table. The Tory Government is now borrowing £500 billion a year, wages are frozen for those lucky enough to have some sort of job, and benefits are being capped for those scraping along on low wages. At the same time millionaires are due a £100,000 tax break this year.
Has our country gone mad? We are still the fifth richest nation in the world.
We need jobs with good living wages and a system which cares for those who genuinely cannot work.
We have to break away from this ridiculous, cruel society of credit-based spend, spend, spend.
My parents taught me to live within my means and I taught my children the same principle.
Alderman David Knaggs, Leicestershire County Council.




Comments
by bapcav
Tuesday, January 01 2013, 8:07PM
“Reubedube :
I cannot argue with you about Cameron´s total incompetence. I warned the local Conservative Party that he was going to be a disaster only weeks after he was elected leader of the party. ( I did think that Osborne would be competent, but he also seems out of his depth. )
However, at the same time, I was warning that Brown was a financial and economic illiterate, who was doing great damage to the U.K. That was unfashionable when I wrote my first letter on that subject ( 2002 ) and, of course, I was showered with abuse. I believe that subsequent events have shown that I was right.
The fact that Balls and Milliband were his sidekicks suggest that they would be a bigger disaster than the Conservatives.
Perhaps being right is an irritating habit of mine. I remember making some comments about the police in the Andrew Mitchell case.........”
by reubedube
Tuesday, January 01 2013, 7:51PM
“bapcav: Absolutely, totally 100 per cent serious; probably never ever more so. Cameron has tried to show himself as Maggie Thatcher the second but succeeded only in showing himself completely out of depth in the office he holds. What he has shown himself to be a master at, is the art of blaming someone else or something else when his stated objectives fail to materialise.
He seems to have lost sight of the fact that he didn't really win an election to be where he is today and that he really has his 'lap-puppy' Clegg to thank for putting him in the position he is in. By continually declaring , as 'Eastonian' has become extremely good at reminding everyone, that "it was Labour's 'Spend, Spend, Spend' policies that brought about the biggest deficit we, our children...blah...blah...blah....Cameron actually has so many of you believing it to be true !
Never a word about the part the greedy,filthy rich ,bankers and speculators played in all of this.
Cameron and his crew are now lining up those who are to be next to blame as their big Plan A to reduce the deficit continues to show just how ineffective and in fact counter-productive it is proving to be. The unemployed (if they haven't got a job it's their own fault, they are just idle),
and anyone in receipt of benefits, they are the next to be blamed for the state of our economy.
In quoting Alderman Knaggs, "My parents taught me to live within my means and I taught my children the same principle". '4_Stroke' then states that it's a pity the last Labour Government did not live by this principle. I would suggest that the very fact that probably most countries do in fact have what we refer to as a 'deficit' , which in the normal course of things is not really any problem, is an indication that whichever party is in office, none 'live' strictly within their means !
My parents taught me an equally as important principal, " Treat others as you would wish to be treated yourself", and "Always be fair in your dealings with others". Now if the current Coalition
could possibly begin to think along those lines, we just might begin to see a bit more equality in society. In reality I know of course that with the millionaire breed currently in charge, I will personally become very much poorer in this new year, while they will become very much richer !
bapcav: "silliest comment of the year" ? Well we all judge each other don't we ! You are entitled to your opinion.”
by bapcav
Tuesday, January 01 2013, 5:05PM
“reubedube :
You´re not actually serious, are you ?
If so, you´ve set the mark very early for the silliest comment of the year.”
by reubedube
Tuesday, January 01 2013, 4:51PM
“Judging by the previous five comments, Cameron and his cronies have been extremely successful in their brain-washing propaganda over the past couple of years or so.”
by bapcav
Monday, December 31 2012, 3:56PM
“The biggest irresponsible "spend, spend, spender" was Gordon Brown.
But that´s O.K.. It was only our money ( and our children´s money ) that he was spending.”
by Graham_LE8
Monday, December 31 2012, 12:52PM
“Perhaps, Alderman Knaggs would care then to divulge why the County Council consider the frivolous waste of £5M on the A426 bus lanes as scheme a cost effective investment, considering it can only deliver more punctual or quicker transit times into the city (but not both) for bus users, is unlikely to increase bus passenger numbers, will not see more bus services, will reduce road capacity for other road users, and will introduce additional hazards for traffic attempting to join or cross the carriageways from side roads.
The only positive aspect will be for cycle users (if you can call segregating them into a lane shared with some of the largest vehicles plying the road, 'positive', of course).
Not only that, it will do nothing to alleviate the genuine bottlenecks on the route, some of which are going to be worse in the near future thanks to ill-advised developments currently taking place in Aylestone...”
by Eastonian
Monday, December 31 2012, 10:45AM
“And Alderman Knaggs chooses not to mention New Labour's 'Spend, Spend, Spend' policies that brought about the biggest deficit we, our children and grandchildren will suffer for years to come. Another one with a selective memory.”
by 4_Stroke
Monday, December 31 2012, 9:02AM
“quote..."My parents taught me to live within my means and I taught my children the same principle." It's a pity the last Labour Government did not live by this principal otherwise we may not be in this mess right now.”
by spalding1944
Monday, December 31 2012, 8:09AM
“Pity the City and County Councils don't follow your advice !!!. No doubt we shall once again see a big rise in council tax come April”