A War time spirit is needed - pride comes before bankruptcy!

Rather like the community efforts my mother talks about during the Second World War, each business has to:

• start reducing its prices – by 10, 20 or 50%
• pride comes before bankruptcy- Directors and staff should take pay cuts across the board
• print payslips on the internet!
• Bonuses should be handed back – or a proportion of them
• Maluses should be introduced – especially for Bank Executives
• Employers should discuss with staff how to reduce / flex their hours
• Staff should offer to re-negotiate paid sickness absence, ‘allowances’
• Management should discuss staff taking fewer holidays / time off
• businesses should re-negotiate benefit packages and insurances
• but don’t turn the lights out!

In this way each business can make a determined attempt to manage its costs more effectively – and so reduce the need to borrow. Redundancy should be the very last resort!