A （警察の）手入れ，急襲 on the 法人組織の／企業の cake

By DAN ATKINSON FOR THE DAILY MAIL
Updated: 21:58 BST, 2 January 2010

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These are dark days for Britain's dwindling tribe of euro-支持者s, with swingeing spending 削減（する）s in Ireland, spiralling 赤字s in Greece and the European （売買）手数料，委託（する）／委員会／権限 警告 that eight of the 16 eurozone countries have unsustainable public 財政／金融s.

Shame , really. Two years ago, when the credit crunch 攻撃する，衝突する, the boys in the UK euro-禁止（する）d were piling into their 輸送 先頭 and planning a big 再会 gig. Safety in numbers was their 主題. They were going to party like it was 1989 and the 選び出す／独身 通貨 was the 未来.

You didn't need to be concert promoter Harvey Goldsmith to twig that the takings from such an event would be meagre, and as the 女性 euro members hurtle into 危機, unable to adjust their 通貨s or 利益／興味 率s, so it has 証明するd.

Talking of thin pickings, third-４半期/4分の1-profitability 人物／姿／数字s are 予定 on Wednesday and are likely to make depressing reading. The second-４半期/4分の1 人物／姿／数字s certainly gave little 原因（となる） for 元気づける.

除外するing oil companies and 財政上の 会・原則s, the 逮捕する 率 of return for 私的な companies was 10.8%, the lowest 年４回の 人物／姿／数字 since the end of 2002, when the 連合させるd 影響s of the dotcom 衝突，墜落 and the September 11 attacks were working through the system.

From the first ４半期/4分の1 of 1995 to the third ４半期/4分の1 of 2000, and again from the first ４半期/4分の1 of 2003 through to the first ４半期/4分の1 of 2009, the 率 never dropped below 11.1%.

The position is even more 悲惨な in 製造業の 産業, where the second ４半期/4分の1 人物／姿／数字 of 6.7% was the second-lowest since 現在の 記録，記録的な／記録するs began in 1995. The lowest was the 6.2% seen in the first ４半期/4分の1, when a weak 続けざまに猛撃する せねばならない make life easier for 製造業者s.

Of course, it could be that British 会社／堅いs are screwing 負かす／撃墜する prices and using the lower 続けざまに猛撃する to build market 株 abroad, which would be good news.

And profitability across the board is bound to 苦しむ as 会社／堅いs hang on to 従業員s during the downswing, given that 削減（する）s in 給料 have not matched the 落ちる in 生産（高）.

A third 'good' 推論する／理由 for 落ちるing profitability may be the growth of the self-雇うd and microbusiness 部門. Perhaps half of this 部門 does not turn a 利益（をあげる） in the 従来の sense, 存在 'lifestyle' or hobby 商売／仕事s.

Nothing wrong wit h that, and many of these outfits will not show up in 公式の／役人 data anyway, but there will be a depressing 影響 on 全体にわたる profitability.

One very bad 推論する／理由 for 脅すd poor profitability comes from the costs of red tape. 伝統的に, we have spoken of a 利益（をあげる）s/給料 分裂（する） in dividing the 法人組織の／企業の money-cake. But by 制限するing the growth of that cake, officialdom is, in 影響, taking its own slice.

Read more at http://atkinson blog.dailymail.co.uk.