The green budget, no happy beginning or ending

February 4, 2010 at 9:47 am 1 comment

by Peter Baeck

Yesterday I went to the presentation of the Institute for Fiscal Studies green budget. This blog will not discuss the details of the very extensive and thorough budget, which can be read here. The overall message of the budget was however not pleasant. Regardless of who is going to be next in government, substantial cuts will have to made in all departments except for overseas aid and health. Simon Hays, Director and Chief UK Economist, Barclays Capital described the green budget very elegantly with a quote from the book, ‘A Series of Unfortunate Events’

If you are interested in stories with happy endings, you would be better off reading some other book. In this book, not only is there no happy ending, there is no happy beginning and very few happy things in the middle.

Just one quick glimpse at why this is not happy reading. IFS estimates that areas such as defence, higher education, transport and housing would see  their budgets cut by 12.9% by 2012-13.

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Entry filed under: Government Departments, Public Services.

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