I think you have covered the steps we need to take in this and other posts.
We must raise taxes initially - but not to pour into the drain of our failing state apparatus , it would be unconscionable to do so without a radical reformation of the contract between the state and the individual that re-shapes...
Welfare - We must face into the fact that misplaced compassion and good intentions has transmuted our welfare system into an abomination. It is clearly rife with abuse and its very nature traps millions in poverty, drained of aspiration or even hope. It's no accident that the growing economies of Asia choose not to follow the Welfare models of Western Europe, the CCP believes that it only prolongs poverty - it is hard to disagree. It's time to row back and have some very honest conversations , if necessary back to the notion of the "deserving" and "undeserving" poor.
The safety net should be strong for those in genuine need, those that can work must work and work must be seen to pay. £5 Billion off welfare ? Needs to be x 10 .
Let's not forget Pensions , we cannot afford the triple lock and therefore it must go. It is a truth that a lot of pensioners are relatively wealthy and it's not unreasonable to means test the state pension so it is no longer considered a universal benefit. Defined benefit Public sector pensions are unaffordable, everyone knows it and dialogue needs to start now about how that commitment can be unwound.
Immigration is the reverse side of the Welfare coin, fixing Welfare will go a long way to fixing those numbers.Outside of that, permanent low skilled immigration is economic lunacy. Any needs we have should be met by " guest workers" on fixed visas as can be seen in the Gulf, Singapore etc. High skilled migration is needed to fire the economy. It goes without saying we must leave the ECHR etc etc
The NHS will never deliver the ever increasing prohibitively expensive treatments available on a universal basis. We have crossed the Rubicon with the assisted dying bill, we now need to have the courage to discuss how much of the NHS budget is spent treating patients in the last year of life and is there is an age when is not appropriate to do so? Should everyone be entitled to super expensive cancer treatments ? If you instinctively think yes , think about this, it surely won't be long before the research on anti-aging treatments bears some fruit. Initially no doubt this will be for those who can pay for it, in time the need to further monetise those treatments will make them cheaper. Who should get them ? Would you give them to everyone ? The criminals? the idle ? We need to re-think our medical ethics in the world we now live in . Part of that needs to include what can be afforded and what can't in our economic model
The NHS should deliver a basic level of care for everyone very well. After that we need to re-assess what can be done.
The Civil service is unfit for purpose, like the NHS it has far more headcount than pre-covid but productivity levels still way below 2019 due to a combination of WFH and a culture of poor performance management disciplines. Unbelievably there are 30,000 of them working on " policy" - never have so many delivered so little ! Needs a radical shake up headed by political appointees from the private sector. No government will deliver for us until this is resolved.
Education - Our workforce is unbalanced. We need to reduce University provision and degree courses and expand vocational training . Part of that needs to include a much more honest and public discussion about the impact of AI on the economy and jobs market so people can make a more informed decision on their career paths.
Defence - We have no choice, we must spend more to retain our alliances.
All we need then is a politician stand on a platform of raising taxes ( initially at least), slashing welfare, removing the triple lock on pensions and removing its status as a universal benefit, ending Public sector defined benefit pension entitlement, paring immigration to the bare minimum, reducing the role of the NHS and reducing universal eligibility for some treatments, slashing the civil service and changing the work culture, reducing university places and spending more on defence.
Any takers ?
Probably not. So bankruptcy it will be. When it comes , how much of that will be prescribed to us by the market/ IMF ?
I would suggest most of it, maybe not immigration and defence, Tax rises, pension cuts, welfare cuts, Health service cuts, civil service cuts , Education cuts absolutely - Look at Greece, don't think it won't happen
I agree with
@Chippy_boy , it looks hopeless. The last time it looked as bad as this was the 70's , but we did come through it, but we had to take some really bad medicine. We can come through this but we MUST take our medicine, ALL of us.
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