Osborne wobbles but 2020 is still a big ask

Flip Chart Fairy Tales

I have long thought that George Osborne would eventually have to scale back his planned public spending cuts. Sooner or later, the circles in the 2015 dilemma would wobble. Taxes would increase, cuts to services and welfare would be scaled back and the deficit reduction timetable would be lengthened. I didn’t expect it to happen so soon, though. I thought we’d get at least one more sabre-rattling budget before a combination of ‘unexpected events’ gave cover for a retreat.

So, like many other people, I was surprised when I saw the public spending projections. What looked insane in December and was modified to merely ludicrous in March now seems almost reasonable by comparison. The £42 billion cut in day-to-day public service spending has become an £18 billion cut with an extra year to achieve it.

Screen Shot 2015-07-09 at 16.31.10

Source:OBR Economic and fiscal outlook

That’s not to say that there won’t now be significant reductions in public service spending. As Paul Johnson…

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About Paul Champion

Some have called me a leader, and a entrepreneur, they say I have integrity, presence and skills to ensure continuous improvement and success in whatever challenges I face. They also tell me that I am positive, resilient and motivating. I say, I'm just a normaI guy from Gateshead in the North of England, who started as an apprentice engineer. I have been in the right place at the right time and in the wrong place at the wrong time! I have successfully initiated and led complex organizations and situations to completion and success, and I have been in some jobs where success seemed untouchable. Mainly though, I have tried to learn everyday, help people to progress and learn the skills they need to be successful. I have had the privilege of working with some great people locally across the UK and more recently internationally in Asia, Europe and now USA, where I am lucky enough to work for www.3aaa.co.uk where I am head of 3aaa USA. This website is just me having an outlet to talk about all those thoughts, ideas and things I learn that pass through my head every day when I face the challenge of doing business. I will also rant on about how great apprenticeships are, and how you can help change peoples lives through them. After all thats how I got to do the great things that I have done, and also I am still an apprentice everyday! All I ask is that if you find it interesting then leave a comment and share what you read. THANK YOU.

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