Quote:
Originally Posted by Chrysalis
ours is different to what the canadians did.
they didnt protect any budgets.
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The end product is the same. Remove liquidity (spending power, money in circulation) and unintended consequences follow with the ripple or domino effect.
Protected budgets are meaningless to individuals. There is a hospital within the ring-fenced NHS not 25 miles from where I live that has announced 600 job losses within a single trust. I expect that over and over again because protected budgets are having the spend focus changed. As always the devil is in the detail and many details never become public.
My sister is currently on holiday here from Vancouver (lived there for 40+ years) and she remembers that model well as she did voluntary work in the soup kitchens and food\ clothes distribution centres. It caused pain in globally improving environment so I hate to think of the outcome in a stagnant or declining environment.