The Governor of the Bank of England called the last decade NICE, "Non-Inflationary Consistently Expansionary" but warned that the next decade will be anything but nice, it will be sober. "A decade of saving, orderly budgets and equitable rebalancing." In order to service a national debt of 935 billion and a structural deficit of 109 billion, the country is forced to cut spending by 83 billion. It is felt that both the previous Government and the people overextended themselves without taking into consideration that the counterpart to high consumption is low saving.
Anguilla and Britain became addicted to consumption and the importation of luxury goods without feeling obligated to produce either goods or services. In the final analysis Britain will be forced to cut 500,000 public sector jobs in an effort to save 80 billion pounds over the next four years. Public Sector workers will also be forced to accept a two year pay freeze, along with increased pension contributions. Welfare payments will be cut by 13 billion this year and 25 billion over the next four years. Housing benefits will be cut by five billion. Anguilla is hoping it won’t have to feel too much pain, bear any burden or take responsibility for its past because it’s the responsibility of the British to bail it out. Britain on the other hand is currently unable to preserve or maintain the lifestyle of its people. A lifestyle built on colonial exploitation and military/economic coercion.
The British saga continues with the scrapping of all transportation projects including the widening of roads. All branches of Government except Health and International Development are expected to cut budgets by 40 percent. Jobs in the defense department are targeted for a 42000 cut, the end result is that the once proud Great Britain will no longer be able to go to war alone. It won’t even have an operational aircraft carrier until 2020 as the Navy’s Harrier jets will be scrapped immediately. The Royal Marines will be integrated with the Parachute Regiment. The position of Britain in the world will be drastically altered. This will be the first time in over 300 years that Britain who traditionally punched above its weight will be forced punch in its class. Experts believe that if for political considerations the Coalition Government fails to achieve the above mentioned cuts, it will be forced to increase taxes by as much as 1200 per worker over five years or increase income taxes to 2% of GDP.
Anguillians need to pause for a moment, and take control of their future. When the Governor and other visiting dignitaries visit the island or make pronouncements from abroad about unethical behaviour, a lack of democracy, poor economic planning or failed states, they are speaking with the guilt an authority of personal experience.
By: statchel Warner