who benefits from cuts?

by Adam Ford

European governments have been announcing public spending cuts almost daily since they agreed a €750 billion ‘rescue package’ for the euro currency a fortnight back. Greece (€30 billion), Spain (€80 billion), Italy (£24 billion) and Portugal (£2 billion), were this week joined by the new UK government, which slashed £6 billion with immediate effect, and promised the financial markets much, much more.

In their statement, Conservative Chancellor George Osbourne and Liberal Democrat Treasury secretary David Laws (who would later be forced to resign following expenses revelations) declared there would be a civil service “recruitment freeze”, along with substantial losses for regional and university budgets. The Transport department will lose £683 million, meaning a drastic scaling back of badly needed road maintenance seems inevitable.