After thirteen years of huge investment (which we now know was underpinned by a mountain of debt) the government has finally had to come clean and admit that it can’t afford to spend money at the rate which it had been doing before.

The reason it could spend so much money on things like rail job subsidies and public services, was down to the fact that it could borrow money very cheaply. Now that facility has been withdrawn and borrowing money has become far more expensive.

Additionally to this, because the Labour government was borrowing so much money, it has managed to build a budget deficit of nearly a trillion pounds in its time in office. This means that it has spent nearly a trillion pounds which it didn’t have and now is having to pay it back.

This means that there is now very little money for public services and cuts need to be made to keep the country running smoothly. Unfortunately some groups do not seem to have grasped this and believe that spending should be maintained at the same levels which have put this country in nearly a trillion pounds worth of debt.