The Eighty Twenty Rule

Every student knows that scoring eighty percent in an examination takes twenty percent of the effort, scoring the final twenty percent takes eight percent of the effort.  If only deficit reduction was so simple.

David Cameron has promised to reduce the deficit using twenty percent from tax increases and eight percent from cuts in government expenditure. What bothers me is that raising taxes is like turning on a tap, it takes little or no effort; whereas making savings from government expenditure takes enormous effort, perseverance and time.  Cameron's eighty percent deficit reduction from reduced government spending will take 99.99999... percent of the effort, the twenty percent deficit reduction from tax increases will take virtually no effort at all.

The emergency budget saw the first tax increases, I hope we will see some real savings and not just projected or anticipated savings from expenditure reduction before there are further tax increases.

It's easy to talk the talk on cuts.
Lets see some delivery
Best Wishes
Will