Why do I think that?

First let's be clear - I am not discussing statistics and numbers. They will prove anything we want them to.

I am looking a what will happen and how real people will feel it. Statistics may prove my view wrong and I would be more than glad to find I was wrong in a year's or two time.

The reality we can all see, read and hear repeated up and down the high street of our governments is - we need to save. They are right - we need to save.

We are not discussing how we got here - that's another, important lesson.

This is about the need to save, to cut the deficit and there is no way we will save later by spending more now. We need to save now. All employers do that, all households do that, the local councils have to do that and regional and national governments as well.