I believe the UK has to borrow £127bn this year just to pay existing bills, hence why we've now got a 1% pay rise cap for 2 years on top of the 2 year pay freeze. If you think its grim now wait for the eurozone to implode and see the massive economic hit we'll take as a result. I'm seriously thinking about emigrating, I've just checked I can get a visa to OZ, just need to persuade the wife, sell the house and find a job in OZ.
Ahh well at least the airlines are recruiting... FFS. Not so sure who is flying though.