The Great Debate UK
-Ian Ellis is executive chairman of Telereal Trillium. The opinions expressed are his own. Join Reuters for a live discussion with guests as Chancellor George Osborne makes an emergency budget statement at 12:30 p.m. British time on Tuesday, June 22, 2010.-
The government is clear that reducing the public sector budget deficit is top priority and Tuesday’s budget will give us our first real indication of how and where public spending cuts are going to occur.
While there’s a consensus about the need to reduce debt, opinion is greatly divided over whether it’s safe to make these cuts in the current economic climate, with some commentators suggesting that deep cuts could bring about dangerous consequences such as job losses, damage to frontline services and even the possibility of a double-dip recession.
The dilemma is clear – how can wide-ranging cuts be made without hurting frontline services or the economy as a whole, without making redundancies and without causing public outrage?