The May 16th BBC article, "Savings pan next week - Osbourne", details new Chancellor David Osbourne's announcement of the emergency budget that is going to be announced next week and what goes along with the £6bn cuts. Osbourne also announced that there will be a new group that would publish economic and fiscal forecasts, the Office for Budget Reponsibility. According to Osbourne this new group was formed because of the innefficency of the current system, a function of the government, to produce a sound budget projection. Mr.Osbourne also believes that the Conservatives can "improve the quality of the education and health care that people recieve in this country". Osbourne goes on to say that the Labour party had left the nations finances in an unnacceptable state and that we needed to start living within our means.
Critics of the cuts have noted that a large round of cuts could lead to even higher unemployment and the risk of a deep recession. This current event has a lot to do with public policy and the outcome of the cuts will have a lot to do with estabishing the legitimacy of the newly formed coalition government.
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Photocredit: The Telegraph.
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