Our Chief Executive Jonathan Isaby is in The Times today calling for further spending reductions in all sectors of government, even 'sacred cows' such as the NHS, if we are going to pass something other than debt onto future generations.
Against the background of tomorrow's the anti-austerity protests Jonathan warns that:
...unless the chancellor starts driving down that debt now, it will be almost impossible to provide the services that tomorrow’s protesters will expect in later years.
And as our new research shows, the National Debt is far higher than the figure often quoted by our politicians. When we factor in the cost of the bank bailouts, pension liabilities and other costs we estimate that Britain's debt is at least £8 trillion, almost 6 times higher than the £1.5 trillion than the figure the figure is likely to quote in his budget.