“The age of plenty is over,” said deputy PM Nick Clegg, as the new UK coalition government unveiled its first austerity budget.
According to The Telegraph, the government has announced its first £6 billion in spending cuts, with various civil servants bearing the brunt.
This will certainly have a short-term negative effect on the economy, though it’s seen as vital for the longterm health of the country.
So how does the government plan placate the masses?
They’re going to slow down on the installation of uber-unpopular traffic cams that catch automatically catch people speeding. That’s one spending cut everyone can get behind, and the hope is that this move dulls the pain a little.
Business Insider Emails & Alerts
Site highlights each day to your inbox.