Government Spending Review announced today, Just what does it mean to you
By steve_truckle | Wednesday, October 20, 2010, 22:32
Well today will no doubt be a day that will go down in history as millions of people prepared for the feared Government Spending Review to be announced.
George Osbourne Government Spending Cuts, Just how hard will you be hit.
Chancellor George Osborne today announced a Spending Review that will cover the next four years.
Chancellor George Osborne said: "Today is the day that Britain steps back from the brink when we confront the bills from a decade of debt. It is a hard road but it will lead to a better future. We are going to ensure every household in the country that what we buy we can afford. Tackling this budget deficit is unavoidable. The decisions we make about how to do it are not."
"We must leave no stone unturned. We are all in this together and we must all make a contribution. Fairness means that those with the broadest shoulders should face the greatest burden."
However most of the people I spoke to shortly after the Spending Review was announced felt that the Government’s decision to tackle the deficit at the pace it plans to would jepodise the recovery process and cause further debt.
Local Builder Mark Coggs said “by getting rid of all these public sector jobs and making all the cuts in spending will result in hundreds of thousands more people unemployed! Surely we should be trying to create jobs in order to get people of welfare NOT putting them on it”
Another local resident who did not wish to be named said “some parts of Thornbury are suffering from an increase in crime yet by cutting Police funding by 4% year on year it will only cause an increase in crime!” he continued by adding “people voted for Lib Dems because they could not trust Labour to do the job on its own but Lib Dems just betrayed the trust of all the voters”.
Key announcements made during today’s speech include
• 490,000 public sector jobs set to go
• A total cut of £81bn in spending
• Average 19% departmental budget cuts
• Structural deficit to be eliminated by 2015
• £7bn in additional welfare budget cuts
• Police funding cut by 4% a year
• Retirement age to rise from 65 to 66 by 2020
• NHS budget in England to rise every year until 2015
• Bank levy to be made permanent
It is without question the spending cuts announced today will hit everyone but just how much remains to be seen, what do you think about the cuts announced today? How hard do you think you will be hit. Let us know.