When one in ten shops in the High Streets are closed or facing closure, and which would lead to more unemployment in the U.K. with added demands on the social security and housing funds, it may be time for the government to pause for thought and acknowledge that the budget cuts are proving counter-productive. It is abundantly obvious that people's budgets have become very tight, and seeing library closures, restaurant closures and slow trade in the local shops, sends the message that people's earnings have reduced and the budget cuts are having a knock on effect.
Anecdotal rather than a scientific study shows shops like Thorntons, Clintons Cards, Marks & Spencer appearing less busy than usual.
Just to stimulate the economy to improve the economic momentum, it seems that in addition to the £50 Billion credit easing announced by the Bank of England in February, it may be auspicious to add another 5 to 10 Billion this week, earmarked for loans to small businesses and to personal loans, so that people's finances could be easier, not having to resort to high-rate money-lenders which are causing such misery to people. Loans from local High Street banks of £3,000 to £10,000 to £25,000 at reasonable rates would give people the cash-flow they need, creating the right impression as so many visitors will flock into London for the Diamond Jubilee and the Olympics.
I make this suggestion as I believe a stimulus now at this auspicious time will reap rich dividends for UK PLC.