So it finally happened. And as predicted, the Comprehensive Spending Review proved little more than a combination of handy, bite-sized headlines with little meaning for us until next year’s allocated spend. The only winner in the end was the press, thanks to a ready set of horror stories, shock polls and human tragedy it will no doubt devour and reuse for the foreseeable future. Someone please save us all from the poorly analyzed reports which frustrate rather than inform, only serving to create more anxiety among the unfortunate, susceptible souls that we are.
In reality, we will not actually understand the true meaning of these cuts until early next year, when local authorities and other government and corporate contractors begin to prepare their own plans for 2011. So whilst we may be able to frame our own budget preparations within a 10 to 15% scale, we still have no real information about how the powerful budget holders will shape their real world requirements.
Until then, while all this ringing of hands is going on and people are pressed to respond and give their views, the banks are quietly preparing their bonuses and payouts and no one says a word. Have I missed something?