Prime Minister David Cameron's announcement of the government's promise to push economic growth appears to have kicked the "spending cuts" political football into touch. With taxpayers set to bear the brunt of the Chancellor's axe, the promotion of something positive appears on the face of it, to be a handy distraction from the doom and gloom in the wake of last Wednesday's PMQs. Mr Cameron's speech to the CBI promised an increase in funding for new businesses to work in tandem with the cuts, in a bid to balance the books in five years time. Has no-one else spotted the gaping hole in the Prime Minister's plan? Where is all this money going to come from?
The liquidation of several QUANGOS combined with the cutting of nearly half a million public sector jobs will free up a certain amount of money but to announce a brand new business initiative along with a proposed £30bn transport project smacks of a want to create a lasting legacy.
The plan to cut public sector jobs and recreate them in the private sector is surely going to have a detrimental effect on economics. It could potentially start another vicious circle of borrowing that plunged this country into its current economic woe.
On the other hand, the Prime Minister's transport plan is something that has been a long time in coming. Rising train fares and the drive to get more people using public transport (among other things) is something that desperately needs addressing. However, Mr Cameron was keen to stress that timing was vital in ensuring economic stability and perhaps his timing in announcing a multi-million pound investment in transport needs to come after the proverbial green shoots of recovery have begun to bloom.
I may be wrong. Hitler dragged Nazi Germany out of economic strife by creating jobs that updated and modernised infrastructure. Here's hoping the comparisons with the current UK administration end there...
(Picture: www.bbc.co.uk)
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