EVIDENCE OF AUSTERITY

SUMMARY   It is revealed that Austerity was unnecessary after Johnson was spending £500bln in one year during Covid on untendered contracts for Track/Trace and PPE/Ventilators to his friends which wasn't done! Austerity should be cancelled now!

Hopeful Johnson will be intervene and rescue the Pension Fund of Arcadia Group this time.

After an already longest list of small and big chain-stores either already bankrupt or cutting drastically their branches the latest is now the Arcadia Group owned by Sir Philip Green. Green already drove BHS into closure with the Pension Fund of estimated £500mln missing. somehow its no surprise that Arcadia Group is heading for Bankruptcy. Will the Pension Fund be paid out to 15,000 staff losing their job?

Johnson and his Tory Government did not issue a Quarter Report on Economy at the end of September. The previous report showed a deficit and no need to guess it will show another one; maybe even bigger. They also did not do an Autumn Budget.


Experts and the Public are not easily fooled although Johnson tries his best.


It is so obvious when you walk down the High Street. Rows of boarded up small shops and big Stores with sale signs for closing down and big price reduction in red across their windows.


Johnson and his Government achieved finally an economic disaster because of Austerity and the newly established Universal Credit. People are at their rock bottom or beyond and cannot afford to buy anything. They even have to make a choice between to buy food or pay for heating. Streets are littered with rough sleepers and all that in a country to be the fifth richest in the world.


Apart from big companies left the country or even being sold by this Government; big Store Chains are now in trouble and have to either close down a great number of stores or go bankrupt. Amongst them are very well known and old names which had been around for centuries.


Here is a list of some of the 1,243 Stores in 500 Top High Street which will close down in 2020:

Plus TATA - British Steel announced cuts 1,000 jobs

Plus NPower - energy provider - cuts 4,500 jobs

Mothercare gone into administration - 79 stores - 2,500 job loss


Debenham – 4,000 Job loss


Marks and Spencer – 959 stores close


Toys R Us

Topshop – 500 Stores close

New Look - 90 Stores close

Poundworld

Maplin - 2,500 job loss

House of Frazer

Evans Cycles

Sainsbury, Argos, Asda – 125 stores close

Morrison – 2,600 job loss

Miss Selfridges –

Next – 200 stores close

Lingerie Outlet St – including DKNY, Vanity Fair, stopped trading

Yorkshire Linen

Karen Millen – bankrupt - plus further 18 stores

Select – 1,800 job loss

Thomas Cook went into administration but saved by Hays Travel

Abermarle + Bond – 400 staff and 100 branches close

Foot Locker – close 1100 stores in UK

Bennetts – largest Dept Store in the World struggling to survive but closed shops

tRed in administration since 2017 saved by shutting down some branches

HARRY AMIES on Saville Row – closed down

Office Outlet – 1,200 job loss

J Jill – closes 75 stores


It is no surprise that the economy finally grinds to a standstill after 9 years of Tory Government constant cut down in Welfare, Councils, Civil Service, Universal Credit and rising prices in energy tariffs, food and clothing.


It is a surprise it lasted so long and did not crush any earlier.


Now, Johnson heading for GE19 and promises anything and everything, but it is too late. The economy is at its final. 

Car industry, which is always the backbone of the Economy, announced that they would go ahead with re-location which means another great loss of jobs.


Johnson is now determined to sign a TTIP and sale of NHS with Trump which means UK get colonised and NHS privatised all for the benefit of Johnson, his gang and Trump.


Hopefully, he wont be able to achieve it before his, hopefully, non-re-election on 12 December, 2019