I'm not the only one who sees the 1970s looming on the horizon

Despite one commentator's optimism in response to my predictions that we are heading for a decade of economic misery and industrial conflict on a par with the 1970s, there is plenty of expert opinion this morning lining up on my side. Alot of what the IFS says in terms of the approach that needs to be taken to public spending reflects the thought-provoking Reform report published on Monday.

It is, however, all very well for academics and think tanks to urge people to "think the unthinkable" when it comes to facing up to the need to haul down public expenditure in the next decade but it has to be done with a degree of political coherence and in a way that at least has a chance of winning public support. If we are forced into the sort of IMF dictated cuts that we had in the 1970s, we will head straight for the sort of industrial conflict and social unrest that marred much of that decade.

Are any of the main political parties offering the sort of leadership that can steer us through the fraught years ahead?

24 Apr 2009

Topics: Budget 09

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