Wednesday, 20 October 2010

The word in (almost) everyone’s lips in the country

Cuts! And I’m not talking about haircuts but I’m talking about governmental financial cuts that will affect everybody’s life here in Britain. What’s different about normal Budget cuts is the fact that the measures announced today will be affective for a number of years and not just for one.

People are talking about near 500,000 public sector jobs that will be lost by 2014-2015. The Defence Budget cuts were already announced yesterday (42,000 jobs to go by 2015). These numbers are so frightening. We’re talking about hundreds of thousands of families that will be affected. We’re talking about whole communities.

Yesterday on the news there was a pub owner near an RAF base that will close in the near future. He had this pub for so many years and yet he will go out of business immediately when the military base closes. He broke into tears while talking. It was heart breaking…

I’m not exactly sure how and when this tide will turn. Such a hit on the public sector will definitely affect the private sector immensely. Construction, house prices, trade, inflation will all of course change. Unfortunately, I do believe that the people most affected will be from the lowest and middle incomes. Some people will have a difficult Christmas period or probably their last chance to enjoy it.