Stop the credit rot

Stop the credit rot

I’m infuriated by the election campaign. When things were booming, the Government poured more petrol on the fire, preventing any correction and encouraging the whole population to binge on debt. Then times turned bad, so they borrowed even more. Spending has to reduce because we’re spending more than we’re earning. We understand that on a personal and business basis so why not on a national one?

In business we know that delay makes things worse. Every day of piling on more debt steals from the future. Japan blazed the trail we’re following and got 20 years of stagnation with still no end in sight. And the Government is running on a record of being a safe pair of hands! Yeah, right.

The opposition isn’t getting the point across, because they think we don’t want to hear bad news. They are too scared to say that public sector jobs and benefits will have to be cut.

Sometimes the future of the country should be put before immediate electoral gain. And sometimes a gutsy and principled stand is rewarded. But we aren’t really engaging with the issue and the political commentators aren’t making much of it either. Maybe I’ll take a holiday in Greece this summer. It will be nice and familiar.

Chris Barling is chief executive of Actinic

Do you agree with Chris? What do you think about politicians’ promises and their handling of national debt? Leave your comment below.

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