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Thursday, 18 October 2018

Some Reason to be Thankful Despite Ongoing Budget Cuts

Whereas Theresa May has promised that austerity has ended, I doubt whether this will be apparent to most people.  The whole failed policy has left the public sector demoralised and denuded of capacity to deal with future problems.  The more so if, as seems quite possible, we are about to see another economic downturn for both Brexit and cyclical reasons. 

Indeed some of the local government trends may actually have made things worse.

Happily Brent has avoided getting into the commercial property market as some other councils have.  Thus, it will not run the risk of a fall in property values wiping out assets, or the departure of tenants suddenly leaving empty buildings as a drain on resources.  Instead, the Council perhaps more by luck than judgement, retains what income streams it has despite the poor state of the UK Economy.

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