If you saw the final election debate between the leaders of the Labour, Conservative and Lib Dems last night, you would have noticed that all three were still shying away from saying where they would make budget cuts to reduce the UK huge debt burden.
It’s not surprising that they are being so reticent. There will need to be substantial cuts in public borrowing to chip away at the huge government debt, which is set to increase by £167 billion this year (11.8% of GDP). As this debt accumulates year on year, by 2014/15 the UK will be in the red by £579 billion.
That is a lot of debt and borrowing to reduce and we all know that times are going to be tough, whoever wins the election. Taxes will rise and it is inevitable that public services will be cut too. Which ones, and by how much is still to be determined, and as I said above – the three political parties are not being very forthcoming about it.
However if this is starting to bother you, we have some light hearted relief for you as Channel 4 have contacted us about their “Chop or not” application as part of their “alternative election” coverage.
The application allows members of the public to say what service areas of the budget they would ‘chop’ or ‘not’. No sign up is required and it’s designed so that it’s fun, quick and in the style of the popular ‘hot or not’ site.
It’s just a bit of fun and everybody’s submissions are totalled and compared with your own results and you’re shown results ‘as you go’.