So-called Austerity

Fella

coastline wrote: »

well theres plenty but its a long list...theres 5,000 to go in a few months time.. I suppose you could tell them all it ain't happening and its all a dream...
just to add GDP has fallen...so your figures in your OP are bound to show 45% plus..;)

So you're citing specific instances of cuts? Well as overall spending is still sky-high that means there have been equal instances of increases. Thus it ever was as in every year under any Govt. spending on some things increases & on other things decreases. What we're talking about is overall spending.

Thrugelmir

Fella wrote: »

In my view it's a combination of two things with Osborne. Partly that he's hoping the ratings agencies will hear all the talk of austerity & not pay attention enough to realise that in fact the UK is spending like crazy & actually not a good credit risk. And partily he lacks the courage of his own convictions. He and the rest of the Tories are absolutely terrified of being portrayed as the NHS-bashing nasty party & worry far more about public perception than about actually changing much.

The markets determine interest rates. Not the ratings agencies. So GO has to adopt policies that maintain in confidence in the UK finances. Confidence is always fragile. Even in good times. As events can suddenly change the picture.

GO appears to be doing the right thing. Holding a steady ship. While others flounder about like drunken sailors. Effects of policy take months/years to filter through. Many will be unnoticable to the man on the street. Providing key indicators (Treasury\BOE) all show progress in the right direction. Then sit tight. As its going to be a rollercoaster of a ride.

Thrugelmir

Fella wrote: »

Once again, what spending cuts?

BIS ( Department Business Innovation and Skills) is mandated to cuts its administration costs by 22% by end of 2015.

Procurement service to the UK's research councils has saved them £100 million in past 5 years. So successful other BIS partners are now being lined up to move onto the platform.

There's lot going on.