Friday, 22 October 2010

Spending review

So with the Chancellor's recent announcement the challenge we are going to face balancing the council's books over the next four years is a little clearer although we will not have all the small print and the final detail until december. It is going to be challenging but we cannot allow the public debt to continue rising as has been the case under the last government. If we listened to the Labour leadership our debt would be almost £100 billion higher by the end of the current parliament and we would be paying £4billion more in debt interest alone by the time of the next election. As it is under the last government they doubled the national debt and left us with the biggest budget deficit in the G20 with interest of £120M interest each day - that is just about Southend Council's entire annual revenue expenditure accruing in daily interest! It is madness and simply can't continue - it is simply not fair on our children and grandchildren who will end up paying the bill.So now the hard work really starts to find the necessary economies with as little effect on council tax payers as possible.

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