“Politicians are not talking seriously about the need for dramatic and speedy cuts in public expenditure. A few billion here and a few billion there are nowhere near enough to restore market confidence. We can’t be expected to make sufficient savings from so-called efficiency gains; there will need to be major cuts to a whole raft of public services. We also need a radical overhaul of our welfare, education and health systems, to ensure that we don’t suffer as easily in future from the sort of reckless and out-of-control spending that has characterised the last few years.” – Mark Littlewood