Fantasy Economics: digging us out of a £43bn black hole

donaldtramp

http://business.timesonline.co.uk/tol/business/article5947172.ece

It’s one of the trickiest tasks in politics: cutting government spending without committing electoral suicide. Whoever wins the next election will need to find another £43 billion a year to start balancing the books. So, how could they do it?
The most simple option for those playing our fantasy game of “Cut The Budget” would be to protect all public spending and raise taxes. Slapping 9p on the basic rate of income tax would raise the cash — as well as being the quickest possible route out of office.

A brutal retrenchment in the form of tax rises and spending cuts will be inescapable if the nation’s finances are to be put back into a credible and sustainable state during this binge. Disagreeable fantasy will become unpleasant reality faster than many realise.

This is going to hurt for taxpayers and the public sector alike.....

amcluesent

Having worked in the public-sector IT, the amount of time and money wasted is astonishing. The staff don't do a great deal, they 'let' work-packages with consultants following a nonsensical 'procurement process' whose 'outcomes' are then 'quality reviewed' by the permies.

Basically Joe Taxpayer is being stiffed for the public-sector salaries and pensions, then paying for the consultants who know they can run rings around the permies and don't give a damn except for profiteering.

No wonder, long after the event, the NAO come in to reflect on more ££ millions wasted on IT.