Quick
Recap
The
Public Sector spending cuts and tax increases that we are going through are designed
to address the gap between what we earn as a nation and the higher amount we
spend (which means we have to borrow to cover the gap). Or to put that another
way……spend less, create more income and then there is no need to borrow. Austerity
at its finest……apparently.
The
Problem
Westminster
informed us that their 5 year austerity plan would lead us to economic
redemption. The problem……unemployment and slow economic growth is hampering how
much is coming into the coffers and there is very little left to cut in public
spending to make savings.
School
Report Time
As
a consequence of the austerity measures not addressing the income / outgoing
balance, Public Sector borrowing was up £600 million to £15.4 billion in
December.
5
year plan you say? There are only 2 years left! Let’s call it a 10 year plan
shall we? What’s an additional 5 years of pain between friends!
Frightening
really.
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