“Efficiency savings alone will not be enough to deliver the services we all need” from the NHS, says the Chancellor.
We now have created a situation where the OBR is effectively setting the immediate stance of fiscal policy. If economic expectations are poor, the finances look poor, so austerity or tax hikes follow – but these in turn make the economy and finances worse.
The pandemic showed that the current safety net has big gaps in it. Here’s how to fill them without further draining the public purse.
There are plenty of areas where wasteful public spending can be trimmed – but a strong dose of the wrong austerity will deepen the recession.
There are few policies that do not require additional spending or borrowing that have the potential to deliver such a profound windfall.
Hunt also says he will announce “spending cuts” this week but insists the government will protect the most vulnerable.
“I think what you’ll see overall is a broad approach that recognises that, where we can, we need to prioritise people on the lowest incomes.”
The Triple Lock, 3% spending on defence, lower inheritance tax and HS2 – all should be for the chop if we are to balance the books.
Pity poor Hunt, facing the most miserable in-tray ever to greet a Tory Chancellor when even rising to the challenge will benefit only Starmer.
There is a limit to what can fairly and sensibly be achieved by raising other taxes and cutting public spending – especially when it comes to pay.
When I was responsible for the £600 million a year London Development Agency, I was shocked at how much management focus was just on getting money out of the door.
Much talk about the “painful choices” of spending cuts and tax increases. But releasing surplus public sector land to provide a million new homes a year, for five years, offers a way out.
The recent history of the Conservative Party and the country is the ultras have had their way on both policy and personnel. The result – for both party and country – is now clear to see.
Those wasted assets are worth around £4 billion. They should be sold off to increase the housing supply and reduce the National Debt.
There are 227 NHS trusts in England and if they all spent the lowest of these figures, £231,611, the total cost would be £52.6 million. 1500 nurses could be employed for that sum.