Ahh, grum old chap, can always rely on you.
Personally I reckon that we have been prepared over the last few months for some seriously nasty axe wielding and having set our expectations so low, have actually provided us with a best case scenario (i.e. within the 25-40% range that they were asking people to plan for, they have come in at more the 25% end).
This was tactical and probably fairly sensible. They have made some of the right noises by protecting the NHS and Education, though not universities which fits in very well with their elitism agenda (though I do tend to agree that if everyone goes to university then who is going to do all the real work?). They have talked about investing in Science which pleases me.
They have also (apparently) found £6billion that they can cut from Whitehall and have reduced the size of the treasury by a third, which is both impressive and unlikely.
Welfare was always going to take a kicking but we are not too clear on what they are going to do yet. I do like the idea that those on benefits will be limited to the average working families income though it remains to be seen whether they come good on this claim.
I reckon they have made a lot of the right noises, penalise the banks, look after the elderly, downsize the military, simplify the benefits system, axe chunks of Whitehall. Details were not so forthcoming so we will have to wait and see what the small print says but those complaining about 40% cuts will be cut off mid stride and our dear NHS (The UK’s largest employer) is looking pretty safe.
Now all we have to do is have a massive boom in employment and zero inflation and we will be laughing. (as if).