Saturday 9 October 2010

Cuts are OK but.....

Given the amount of Media space devoted to the wails of those on 40% income tax who will lose child benefit you could be forgiven for believing that everyone is in favour of Government spending reductions unless the cuts directly effect them.  Maybe the wails of anguish simply reflect the ability of some of the more articulate members of society to get their voices heard.

Perhaps a simple definition of spending reductions is that they must and will hurt; the challenge being to minimise the pain and to shelter the more vunerable members of society from the effects of the cuts.  There is only so much that can be achieved by efficiency savings, and even then it probably means some people losing their jobs, before the effects touch others.  There seems a world of difference between giving up something which you can live without when compared with keeping in place services which, literally, are a matter of life and death.  So 'ring-fencing' the NHS from having to introduce front line service cuts, whilst expecting efficiency gains, is a logical way forward.

I'm not looking forward to 20%  VAT or having to wait until I'm 66 to receive a State pension.  However I'm prepared to accept that my modest financial loss is for the overall good.  My loss is immaterial alongside those who will lose their jobs and have to find new employment.  I've been there and done that and, at the time, it is a traumatic experience.

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