In principle, yes I would agree, but it's important that there's a very clear categorisation of what budgets can be pruned and by how much as opposed to those which are far more important to retain as untouched as possible. For a politician, any politician, to say "we're not going to touch this" is simply to invite later derision and calls of breaking election promises; I'm sure the British public would respect someone far more if they told the truth for once!
Budgets like those for education and health should be the last be be chopped, however that doesn't mean that there still can't be significant cuts made in the bureaucratic sides to cut down of excessive staffing levels, waste and general inefficiency.


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