World wide government budget cuts.
I normally wouldn't write two blogs in the same month but today the UK Government announced unprecedented cuts in spending. Riots have been going on this week in France about advancing the pension age and quite recently in Greece riots occurred because of austerity measures.
I had been trying to anticipate this situation and creating images to illustrate the situation now taking place.
I will give a few examples.
Among the measures announced to cut borrowing the pension age will increase............. so work longer and contribute more before your happy retirement !.
The banks will be subject to new taxes and bank bonuses cut;
Science has been largely protected from cuts because it leads to innovation and creates new businesses and jobs.
Because the UK Government is a coalition of Conservatives and Liberal Democrats there is a fear of party splits over the speed and direction of the cuts announced today.
After the country takes the medicine prescribed by the Chancellor will it turn the corner ?/
Maybe government ministers should consult a clairvoyant !
I hope this anticipation of the financial climate might be useful to those writing newspaper and magazine articles on the big money issues of today !
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Photo credits: David Watmough.