And nobody excluded yesterday a VAT increase

Perhaps the day the most important of his tenure as Chancellor of the Exchequer. George Osborne is in fact today detail a multiannual programme of austerity for the public finances as Britain in has not had since 1981, when she entered the heart of the matter of the era Thatcher.

The United Kingdom presents the worst deficit - about 11 of GDP - in the countries of the g-20, and one of the most difficult to eliminate, according to experts. Since the election campaign, the Conservatives George Osborne in the first place, argue that must take the bull by the horns. The ruling coalition between the torys and the Liberal Democrats Nick Clegg took this refrain, particularly to prepare the general public the severity. She believes that it was right before everyone and wants proof that the Germany and the France come to announce massive economic efforts.

Hard starts

But this success cannot hide that the harder began only today. Labour had planned to reduce the structural deficit to 2.8 of GDP for the fiscal year ended in March 2015, compared to 8 in 2010-2011. Conservatives want to reduce it to 0.6 to this deadline. Experts have calculated that the ambitions of the previous Government returned to 51 billion pounds of turn tax screw, one third of the tax increases. The objectives of the Government of David Cameron returned to 85 billion of relief of the country's finances, which only 20 should come from a tax increase. The addition will be painful. The Prime Minister, who has already approved more than 6 billion savings for the current year, warned that "nobody does would be spared". It is estimated that the biggest position of the British budget, it is the expenditure of the welfare State (pensions - the largest post-, unemployment, benefits...), which represent 28 of the total. About 55 are, on the other hand, spent on public services, including health - one of the largest post-, education and the functioning of the administration. To reduce the invoice, everything is imaginable, note experts since this weekend. Even what elected officials had promised to protect during the election campaign. The announcement of a decline in the legal age of retirement - age 65 for men and 60 for women could intervene today. This would be the only way not to affect the amounts of pensions, comparatively low to its partners. The amounts of heating allowances and allowances for children could be reduced, the frozen wages... Some require that the Government size in the generous salaries of certain employees of the national health service. Side recipe, there is certainly an increase in the tax on capital gains of assets not entrepreneurial, even if the idea right dislike, and a tax on banks to pay for the potential of the system. And nobody excluded yesterday a VAT increase...

George Osborne has the British establishment behind him and the ability of the British to belt tightening is great. But for its budget does not break his Government, it must be monitored at least two indicators, note experts. Its budget must be seen as just, so that the social climate remains calm. And above all, it must not break the rebound of the economy. Growth is fragile, especially if all trading partners of the United Kingdom to convert to austerity.