As the government slashes spending, the cost of living is just going to tighten our pockets even further – but don’t blame our local councils.
George Osborne announced earlier this week that four government departments have agreed to cut spending by more than a quarter over the next four years.
Transport, environment, local government and the Treasury have all made agreements ahead of the spending review happening later this month.
This means that for every £1m, at least £250,000 will be saved. When you apply this calculation to several million pounds, possibly hundreds of millions, that’s a lot of money.
Thousands of families across the country are already struggling to cope financially and now these spending cuts will increase the challenges they face, with the potential to affect others too.
However, it is necessary that cuts are made, regardless of what party our government is made up of, in order to pay off our national debt.
A significant proportion of the public doesn’t understand why councils are reigning in on what they spend
This still doesn’t stop many people from feeling frustrated – particularly when it comes to cuts on local authority spending. A significant proportion of the public doesn’t understand why councils are reigning in on what they spend.
But as George Osborne’s announcement shows, it isn’t in the control of our local authorities because their spending is manipulated by central government.
The fear of slashing the budgets of local government further is that we have no idea what will be affected. In recent years young people have been deprived of services that were closed down to save money.
Among all this negativity, it is important to acknowledge that we live in one of the fastest-growing economies in Europe.
London is seen as the financial capital overseas and a growing number of international businesses are investing in our country.
This is good news for those looking for employment and for young people who are currently training for their prospective careers.
But with a growing population, competition will get more fierce. If today is challenging, let’s accept tomorrow will be even harder so that we are prepared.
If these cuts pay off and there is more opportunity in the future, then happy days – but if not, we will be equipped for either outcome.
Our country needs to balance its books, but with the right mindset you will live a good life with a strong career, no matter what the economic climate.