ISthere any money left in the UK Treasury? You get the impression that the new coalition government plans to slash the budget of all government departments from defence to the National Health Service. Did the last government get their sums so wrong or is David Cameron just scaremongering? Not a day goes past at the moment without the government announcing that they plan to cutback on some government department.
latest ministry in the spotlight is defence with minister Liam Fox saying that Britain can´t afford many of the defence systems which are now on order. Now, I know that the Labour government had a policy of spend, spend, but surely the new government is the complete opposite. I believe that there is now a real danger that Britain´s economic recovery plans will be dented by government spending plans. The message from David Cameron and his team is that Britain is broke and any hope of new orders from government to industry have been dashed. I think it was a member of the Bank of England´s monetary committee who said before the election that the new government would have to make some very unpopular decisions and it would be unlikely to be re-elected. If Cameron continues like this I think he will be proved right.
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