There is precious little information about how the main political parties plan to meet their deficit reduction targets after the election. While we’re debating what a photo of a white van means, somewhere in the backroom of Tory HQ they are formulating plans to fundamentally reshape the state. Quite possibly, they are doing the same thing at Labour HQ. Everything is in darkness, except for the traumatic scale of the cuts.
A report today by the Resolution Foundation outlines the scale of what is coming and the democratic failure of refusing to share these plans with the electorate. As the group’s chief economist, Matthew Whitaker, said:
"Meeting the fiscal targets set out by the main political parties could mean a redrawing of the boundaries of the state due to swingeing cuts, significant new taxes, or a slower path of deficit reduction and more debt – or a mix of all three. Yet no party has really made clear which it’s going to be.
"The gap between the scale of consolidation implicitRead More »from Something wicked this way comes: The mystery of deficit reduction after 2015