The year ahead provides a great opportunity for the new government in Britain and governments around the world to pare and prune and manage the economy far more efficiently than ever before.
Years of mismanagement, extravagance, squander and waste have left the economy in a sorry state and nobody envies the immense task which lies ahead for local and national government. Millions, billions and trillions of dollars, euros and pounds have been misused, by governments, bankers and greedy entrepreneurs and all this has resulted in a catastrophic global meltdown.
Nations such as Iceland, Ireland and Greece have teetered on the edge of bankruptcy and the massive powerhouse which is the United States of America, despite its resilience, has suffered, resulting in drastic unemployment figures as more workers have been laid off and fewer have been taken on. In Spain unemployment has risen to 19% as the unsustainable housing market collapsed.
- "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
The answer is clear - savage cuts, wise spending, conservation of resources. This is a policy set in motion in Ireland to deal with the national economic crisis. In the UK the Labour benches mocked and derided the Liberal and Conservative pronouncements, by Vince Cable and George Osborne. They were accused of subjecting the British taxpayers to cuts of 10% in public services. These cuts are necessary and the Labour government knows it full well.