We all know that covid has blasted a huge hole in the public finances. We also know this government intended to spend more money when it was elected. We’re told that it’s not all bad, as we currently have ultra low borrowing rates.
But we can’t allow for complacency. Ministers and officials at all levels of government waste billions of pounds of our money. There are still quangos to scrap, and programmes to ditch. If we take our eye off the ball on spending, then they’ll just come for more of our money with higher taxes.
They call it austerity when their own budgets are trimmed, but not when they trim yours.
I set out some big picture thoughts on why we must save to spend in yesterday’s Sunday Telegraph, which you can read here.
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