Today George Osbourne announced the latest budget cuts for the coalition government and surprisingly I got sucked in.
It's something we probably all should follow a bit more - so....I thought I'd have a go at summarising the basics and what might affect 'us'. Don't hold me liable if it's not quite how it turns out ;)
With what we feared most (and the recent controversy that surrounded Nick Clegg here in Sheffield) it appears there are going to be cuts to spending on higher education funding - potentially cuts of 40%!
Apparently the 'crime and justice' departments are going to have to endure cuts of 4% per year...hmm let's hope they don't turn to fluffy Ann Summer's handcuffs and HOT FUZZ style policing.
There are rumours that train fares are going to rise (even more!) and the Chancellor announced increases of '3% above inflation for three years from 2012'...doesn't seem too horrendous but we'll have to wait and see what figures that works out as.
One of the scariest parts is the projected plans for job cuts in the public sector. It was announced that the public sector will loose 500,000 jobs by 2014. 500,000. That sounds disastrous for us students who will then be out in the big, bad world looking for work. These laid off employees will then be applying for work within the private sector, which following the recession, isn't exactly offering a lot of job opportunities. I'm not really sure what hope there is to offer on this...get the best CV possible, do all the 'extra curricula' things you can fit in and make a plan B!
It's not all doom and gloom, this equates to 8% cuts over four years within the public sector yet the private sector employs four times the amount of people as the public sector. So by my maths, if the private sector takes on just 2% more employment...they could surely cover the employment deficit. We'll have to wait and see if I've got that sorted!