Two weeks ago marked a huge milestone in the economic path we have been on since 2010. Britain finally achieved George Osborne’s aim of a budget surplus for the day to day running of the country. It is almost astonishing that since 2002 that it has cost us more to run the country on a daily basis than we could afford.
This was never sustainable and Gordon Browns fatal mistake that made our road to recovery so much harder. We must learn from this mistake an never allow a government to fall foul of this again.
Whilst this is a great milestone to achieve it doesn’t mean the hard work is over. We have cut a lot of fat and waste from our government and public services. It is astounding and almost criminal how much of your money as a tax payer was not being spent properly. Some of these cuts have been harsh in areas and soft in others. There will always be savings and redistribution’s to be made. The job is most definitely not over, for it is a job that can never be done. To stop finding savings, is to allow waste and inefficiencies to creep back in.
If the economy continues to grow this surplus means we can start to think about how best to expand funding in key areas. We must always be vigilant and not allow careless spending to put us back in the position we were in in 2008. The national debt is at record levels and its repayments enormous. Reducing these payments will in the long run ensure there is more funding for improved services. With this in mind this milestone must not be a payday spending spree.
A measured and sensible approach is required, even if it is a little boring.