Gidiot review: financial doom impending?

Hurrah, it is that time of year again- the spending review! (actual review date: 26th June). So what is that I hear you asking? Some relief? No more major cuts? Tory success? Alas, this is not cloud cuckoo land. 

Already, an open letter to the Chancellor is calling for no more more local authority budget cuts and has been signed by 152 council leaders. Oh dear, not a great start. Ahhh! To make matters worse the LGA warn Osborne that “Councils have so far taken £3.1 billion from the annual paybill…For many councils, new funding cuts in 2015/16 will lead to a significant reduction in, and in some cases even loss of, important local services.”

Oh good God, what will escape the clutches of Osborne’s grasp?

The OECD backed George Osborne’s plans for further spending cuts, saying: “With a high budget deficit and gross government debt rising to 90% of GDP in 2012, further fiscal consolidation is necessary to restore the sustainability of public finances.” Oh, great, that will sort out his ego for sure. One hopes that Ian Duncan Smith hasn’t been supplying the OECD with its figures. 

In case you’re not depressed already, Treasury reached an agreement last week on the budgets of several more ministries for the years 2015/16, but there are another 10 to go.

Have no fear, the next general election is only 689 days (16542 hours) away! Image

Cuts agreed to: 

Home Office
Department for Rural Affairs
Department for Culture, Media and Sport
Scottish Office
Wales Office
Law Offices
Ministry of Justice
Department for Communities and Local Government
Department for Energy and Climate Change
HM Treasury
Cabinet Office
Foreign and Commonwealth Office
Northern Ireland Office

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