Julia Davies, Liberal Democrat Parliamentary Candidate for Stevenage endorses absolutely the calls for public spending cuts made on Saturday by Vince Cable, Shadow Chancellor of the Exchequer at the Liberal Democrat Spring Conference.
Julia has called on all Stevenage members to repeat this message from their Econonics guru Vince Cable – the only top politician to continually warn the government and the people of Great Britain about the financial trouble to come before the proverbial hit the fan! Julia Davies urges all voters to take note of the costed financial plans being put forward by the party leadership in the face of Labour activists alleging that we have no plans.
Julia declares, “They are clearly set out by Vince Cable in the speech which I summarise here.”
The timing and speed of cuts must reflect the state of the economy, not political dogma. But cuts there will be. Serious public sector pay restraint for the next two years: no one with a pay rise over £8 a week and no bonuses at all. We will end government contributions to the Child Trust Fund and cut tax credits for high earners. Axing unaffordable defence contracts such as Eurofighter, and the Trident replacement. And others, subject to a rapid defence review.
In power the public will find us scaling back programmes like Home-Buy, cutting back RDAs. Taking out tiers of burdensome regulation of local authorities, and scrapping undemocratic regional government.
Slashing a bloated central bureaucracy – kicking the consulting habit – and ending illiberal and costly government data bases: like ID cards and Contact Point. And we continue to look across all government departments for further savings. There can be no ring-fencing if we are serious about getting the public finances back on track.
And there will be a levy on the profits of banks.
So far we have identified over £15bn per year of savings, most of which are to reduce the structural deficit and which we will be setting out in full at the time of our manifesto.
A Liberal Democrat Government would conduct an urgent public spending review.