Preparing for the Budget

As we all await the Budget on Tuesday, most are bracing themselves for some very tough spending rounds.

I thought it might be useful setting out a few home truths, as the Opposition get ready to battle over 'cuts':

• In 2010, the Government will spend £701 billion, £155 billion more than it can raise by taxes;
• Public Sector debt is £900 billion;
• Public Spending as a proportion to GDP is at 48%;
• The UK has the highest deficit in Europe other than Greece.
  
  
  

It is worth stating that any cuts, are in fact Labour cuts, caused by their mis-management of the economy. We often forget that it is not 'Government' money that is being spent, but 'taxpayers'. All taxpayers have the right to know that the Government spends their money wisely - and does not spend more than it can afford. Taxpayer's money is not a bottomless pit: every spending decision means that somewhere else, taxpayer money is not being spent. The last Government - over thirteen long years - spent our money, as if it was an ever increasing pot, and often did not spend it well. Tuesday, will mark a return to good housekeeping and common sense with the nation's finances.

P.S. There is a good article in the Sunday Times well worth reading. Click HERE.

by Robert Halfon - www.roberthalfon.blogspot.com