Tory grandees have warned tax rises will be needed to fill the massive black hole in the public finances – claiming the government is kidding itself’ about the scale of the problem.
Former chancellor Ken Clarke and ex-minister John Penrose said the ‘scale and depth’ of Britain’s debt problem was being underestimated.
The pair wrote to Chancellor Philip Hammond last week emphasising their anxiety about the way public debt is calculated.
They pointed out that the Government’s future liabilities, such as public sector pensions, are not included in Treasury figures.
It never seems to occur to these morons that debt reduction comes in two guises – increase income and reduce outgoings. Given that the government is a prolific spendthrift, it is time for the latter. No we do not need tax hikes. What we need is for the government to slash its spending. Cease all third sector funding. Stop all foreign aid and close down the department for overseas development. Stop all spending on the arts and sport and close the department for media culture and the arts. Then come back to me with your risible excuses for more rampant theft. Whereupon, I will find further places where you can cut government spending. Run along now.
‘You or your successors will either have to raise taxes substantially, or cut important public services deeply and none of us, as Conservatives, want to leave such a cold, mean future to our children and grandchildren.’
The ones I have mentioned are not important and no one – except the toughers that benefit directly – will miss them.
Don’t forget that such profligate over spending is how we got into this mess in the first place. The cutbacks that you mentioned should have been made the second that spending was exceeding income. Also, don’t forget all the green saving the planet cack.
Totally agree. We have the same bs here in Spain. The pensioners are raising hell about the latest annual increase of €0.25 per month. Leaving aside for the moment that the system is structurally unsound based on demographics, there are plenty of opportunities to reduce costs: better control against corruption and eliminate the autonomic regions would pay for a LOT!
The main problem is that government, whichever party is in power, follow Milton Friedman’s 4 observations of spending by officialdom.
1. If you’re spending your money on yourself, you want the best value at the best price.
2. If you’re spending your money on someone else, while still looking for value, take more note of the cost.
3. If you’re spending someone else’s money on yourself, you put the priority on the quality rather than the cost.
4. If you’re spending someone else’s make money on someone else, the quality and the cost are irrelevant as there is always more money if the original idea is found wanting.
Indeed.
We could stop invading and bombing other Countries. I’m sure that would save a few bob. Eradicate the HoL, redefine the Civil Service pensions like the rest of us suffered ie increase retirement ages and reduce benefits,. Cut the number of MPs and limit staff and SpADS to 1 and 0 respectively. Cut welfare benefits to economic migrants and the feckless. There are many opportunities to cut spending.
I used to think Govt borrowing/spending was wanton and thoughtless; that they were merely buying votes. I now suspect that its actually being carefully managed, such that the inevitable cataclysm happens on someone else’s watch, ideally in the 2nd term, as they can’t blame the previous government.
Ah, Ken Clarke. A man so far up Jean-Claude Juncker’s backside that you can’t see the soles of his Hush Puppies…
Well we can rely on him to be objective about it can’t we.
Where spending on the arts is concerned, it is wise to see how the great works of the past were funded. Of all the Old Masters paintings, the great sculpture and so on, not a single one came about as a result of a Government funding scheme. Pretty much all were either penniless artists creating art for the hell of it, or were commissioned by wealthy benefactors.
Government funding does not create great art. Private patronage does, because the artist isn’t going to get paid if it isn’t some good.
So there’s another load of cuts that can be made…
Cut harder, cut deeper.