Thursday, October 21, 2010

Britain's swingeing cuts to an elephant in the Chancellor's room

Is it me. Or am I missing something.

Britain today announced cuts to to its house keeping budget that might no longer allow for the moniker "Britain - one of the best places to live".

Then again, given what's going on in France with its riots n all, things haven't got as bad as they seem.

The French are protesting over the hike in the pension age from 60 to 62 years of age. In the UK it's going from 60 to 66 years of age. There should be opprobrium from the Brits.

Early days though in terms of a potential pending strife -as the unions in televised interviews are calling for resistance.

But a couple of things irk me in a manner which has me stamping trampoline-fashion on-the-spot.

Maligned Bankers
Am I misinformed in understanding that a major part of the fault of the UK's debilitating predicament was caused by maligned bankers.

That up until the collapse of Lehman's brothers, Britain's budget was fairly in good shape.

So why after the cataclysmic event that have led to Britain PLC being saddled with huge debts doesn't anyone, namely politicians from the labour bench force this argument.

Rather, we're led to believe that the previous government was reckless with the state's finances over its 13 year run.

The evidence is that the Tories broadly supported Labour's budget strategy up until Lehman's crash, but the tory-lition continue to land punches over Labour's recklessness.

So what would have happened if the banks were allowed to sink?

The former PM, Gordon Brown is absent from this much needed redress now.

And so while this open sore needed penicillin, the medicine instead has been to severe the foot and then waterboard the vunerable. I can't imagine how many rogue banker are chuckling over a a prized bottle of wine, singing "happy days, happy days".

Can anything be so perverse?  Frankly why not skim of more bonuses.

If you're planning a hols to the UK, better do it quickly, next couple of months appear to be very uncertain.