The Chancellor's Autumn Statement was autumnal, presaging a wintery landscape.
The government has set a very ambitious Deficit Reduction regime, only lot of us
wish they were not so rigid about it.
To cut 180 Billion over 4 years is 45 Billion cuts every year.
Every year there will be more and more jobs less, more hardship for people to face.
Could the cuts not have been over 5 years, at 36 Billion a year?
The 9 Billion a year would leave some lubrication in the system, some roughage.
When I read that this year the Exchequer will have to borrow an additional - an
additional - 120 Billion for this year, I realised that the Budget Deficit Reduction
programme is proving counter-productive.
At this rate, the U.K. will slide into a Recession.
And what is the point of that?
As the IMF has suggested, the Deficit Reduction could be at a more gentler pace.
With the Deficit Reduction, the direction is right, but the speed is too fast.
I hope the Chancellor will moderate and hopefully a milder dose of the medicine
will prove more effective.