Voters know the true meaning of stiffness and update

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The writer, an FT contributor, the executive director of the UK Royal Art Society and the UK Bank is a former chief economist

Rachel Reeves stuck between the two lovers of free abstract: quality and stiffness. Chancellor is accused of those who accuse the nation without receiving their credit capabilities. He is also charged with the left side to emphasize and implement the citizens of the nation. Most of such a politician.

Although both claims are inflated, the government seems to be more politically politically politically, with a combination of harshness with the conservative leadership of 2010 with a conservative management of Cameron-Osborne.

Economists agreed. Mirroring the technical definition of the recession, stiffness is usually defined as a sustainable contraction in government expenses. George Osborne’s Chancellor’s Chancellor, real department costs fell more than 2 percent a year. However, this month’s spending period is expended to spend more than 2 percent a year in this parliament. Hardness, continue This is not.

If this is the public, except. The most common study, the majority of the majority believed that England did not leave the stiffness or never. Perhaps these relationships will change now. Or maybe the public understands the true meaning of harshness than the public, economist or politicians.

The feeling of brevity is more than the level of state spending than the change. It is measured than some criteria, this is the adequacy of public services that form someone’s experience. This benchmark will be more than 5 percent of the next election, other than the public services, then outside the health, education and defense, further parts of the state.

However, a benchmark for many more likely to be a level of service in the past. In 2010, the costs of each government department are a financial level, except for health and remain. Until 2029, this loss will be 5 percent for education, criminal justice and prisons, 30 percent for protection and pension. Perhaps the most eye-catching, damage to the local government will be 50 percent. Thus Stiffness, period For many, there will be a reality in everyday life.

No one questioned that Britain is tough for the citizens of England in the post-war. However, the test of the politician and technician would fail. Outside protection, government expenditures have risen in real sense every year between 1945 and 1950s. But what is important, at the moment, before earlier (or before before or before before before, the Benchmarka was the lower level of public services.

For the years ahead, the nouns preferred by these Chancellor is not “renewal”, not “renewal”. They are not necessarily antonym: post-war stiffness overlapped in the state’s largest update in a century. This spending meeting gave details of £ 100 billion in addition to the state investment. Every year, when it approaches 1 percent of GDP, it is meaningful in this scale and creates creativity among the sectors, regions and nations.

But the context is all. A capital stock of the Britain’s head is smaller than two-thirds of GDP, or more than two-thirds of GDP. This is 20 times the overlapping summary. Above, the investment rates of other countries will still be on the UK, so the capital gap will increase. Something else is equal, this means that the relative growth prospects of England will continue to fall.

In addition to public investment, the expenditure review has offered to be renewed by a significant state in less. This parliament will be taxed in taxes as government expenses and the share of national income. Randomly sounded louder, it is such as little political dispute or analyzes that this size is sensitive or vulnerable to the trajectory.

The update can lead to changes to the change in the public sector. The expenditure period predicts more than £ 14 billion efficiency savings by 2030 – a figure criticized as impossible. The question is so surprisingly small. In the current forecasts, the public sector will have no lost decades for its productivity in 2020 since 2020, the productivity of the public sector.

None of the unavoidable economic renewal does not offer a key to optimism. Independent forecasts reduce UK growth forecasts over a year. The office for budget liability is now a vendor as likely to be revised for the forecasts. Even over-optimistic OBR predictions show that the living level of living between the poorest half of the population is set for a second missing ten years.

Together, then the expenditure review has not increased in a decade of public services for more than a decade. None of this is in line with the definition of renewal. Or corresponds to the postwar model. Will there be a match for high promises of reforms (large and small r) of marginal gain and management skills in the voting box in 2029?

The presented ministers move now, it should not be a choice of voters. However, this is the scale of the Postufar Attlee Government and passionate situation – rewrite radical reforms, Byzantine tax and regulation codes, reconstruction of the educational and skill system, distribution of the education and skill system, distributing the education and skill system. Without all this, there is a little reason to think that the rigidity of the update will replace the public as a selective noun.