gbsteve (gbsteve) wrote,
gbsteve
gbsteve

Delaying the inevitable

So, the economy was on the way up in May with Labour's policies still working. This has carried on until now but the Tory cuts are going to start biting soon. 500,000 public servants will be out of work, travel will be more expensive and VAT is going up too. However, the Christmas rush will delay any effects until the new year. I would have expected the economy to start on a down turn in the first quarter of the next financial year. However, this too has been pushed back by a feel good fun day: the Royal Wedding. So I expect spending and tourism might just delay the inevitable until the second quarter next year. And of course the structural damage will have been done by then with public services greatly reduced and demoralised, especially as second quarter figures won't be reported until August/September. 2012 has got the Olympics, will this be enough to see the Government through?
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