Wednesday was watershed day for the British Economy. It was the day George Osborn outlined the measures he would be taking to try and get our economy back on the road to recovery.After umpteen years of Labour misrule and profligate spending he has no easy task ahead of him. He has had to try to be upfront and honest (can any politician ever be that?) and point out just what a serious position our economy is in, and sell his ideas of everyone having to be far more efficient and spend less, as well as face a future of higher taxes to help bridge the gap.
This will obviously lead to higher unemployment (a bitter pill) but he has tried to somewhat sugar coat this by making slightly less deep cuts in some areas.
All this makes me ask the question "Why has the British public been prepared to live above their means for so long?" Let's face it, they have been encouraged by the previous government, which did exactly the same.
The sad thing is that those who have been prudent (a favourite word of Gordon Brown) are now facing difficult years when their savings will be not be worth what they once were, through no fault of their own. It seems very unfair that the sensible and thrifty are being penalised for the feckless and profligate spenders.
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