This foul medicine is the tonic we need
THERE’S a clear message this week for anyone who believes the past couple of years have been tough for the British economy: we ain’t seen nothing yet.
As David Cameron spelt out on Monday, and George Osborne echoed yesterday, the unprecedented £60billion-a-year spending cuts being planned will have a massive impact on every one of us.
It’s not only public sector workers or those on benefits who’ll be hit. Private businesses and their employees, who’ve borne the brunt of the recession, will also suffer from the loss of government contracts and the cut in spending power throughout the economy.
The Mail takes with a pinch of salt the Chancellor’s pledge that he’ll consult the entire country over where the axe should fall. For we all know the great majority will answer: ‘Anywhere but on me.’
What is 100 per cent certain, however, is that these cuts are vital if our children are to have any hope of enjoying the comforts we take for granted.
Yet isn’t it also true, as Canada’s experience of rapidly reducing a vast deficit has shown, that Britain may emerge stronger after the foul medicine we cannot avoid?
The fact is that over the Labour years, our economy has become dangerously uncompetitive, with its burgeoning welfare culture and swollen public sector.
Yes, the cuts being forced upon us will demand a radical rethink of the state’s role in British life. But couldn’t that be just the tonic we need?