Time for denying reality over

Clive Bibby

Opinion

Listening to the different political parties contest the right to occupy the Treasury benches after the election campaign isn’t an exercise that instils confidence in the nation’s ability to extricate itself from the economic and social mess we are in.

Admittedly, a decent chunk of the debt accumulated over the past three years has been money spent where the Government had no choice.

And it is fair to say that the debate surrounding the accumulation of that debt should not be about whether the mostly borrowed money should have been spent but more precisely, how it was spent.

Because, if those last few years enduring climate events that were merciless in their destructive power or the Covid emergency that created extraordinary economic conditions of its own taught us nothing about how to run a business, then we are in big trouble when the next one adds to our already precarious position.

Under these circumstances, in order to have any chance of surviving future calamities, showing we have learned from the past experiences, we will need to place priorities for future spending and those items that make the cut will be only the ones required to cover essential services.

It isn’t a scenario that any incoming government would like to contemplate, but the time for denying reality is over.

Unfortunately, the need for a siege economy is warranted now more than ever.

But try telling that to those who have an exaggerated sense of entitlement.

We simply can’t continue borrowing money like there is no tomorrow, which only lumps the responsibility for the debt repayment on to future generations who had no say on whether our unwarranted expenditure was justified or not.

Some would say that our current debt ceiling is a result of irresponsible management of the economy when the excuses used for saying no to the clamouring pressure groups would have been legitimate responses at a time when it was in the nation’s best interests to do so.

Whether we like it or not, the need for austerity in many areas is still there.

Sadly, of the current group of aspiring politicians, few show signs that they are prepared to make the hard decisions when it comes to spending money we don’t have or that they have learned anything from the profligate spending of late.

I would hope that the parties who do make it over the line in a few weeks time will have the courage to accept we are currently at war with ourselves and, unless we take stock of a situation that is spiralling out of control, we might as well all join the millions who are taking advantage of other countries’ lax borders and move somewhere else in search of a better life for ourselves and our dependants.

Would those who are the last to leave please turn out the lights?