The lost generation

So, finally, we now know what the ConLib coalition stands for. The budget is out and the choices made in it are relatively clear. The most significant measure outlined is a dramatic reduction in welfare services which, as stated by Osborne, grew under Labour by 45% in real terms, thereby rendering the UK structurally bankrupt.

Whilst Newsnight has struggled to identify who will suffer most from this budget, to me it looks rather clear; cuts in welfare spending will impact most those in need of welfare support. If I am not mistaken, these are less likely to be the affluent and healthy. Rather it may impact the poor and ill. Possibly most important, the suggested cuts are likely to impact the job prospects of the young.

Whilst the UK has managed to maintain relatively low unemployment overall, unemployment is rife amongst the 20-something year old. The UK is genuinely risking losing an entire generation born in the late 1980s who are now even less likely to get a job and, by the time the economy picks up in 2-4 years will find themselves unemployable. This is the big risk. A lost generation will impact the UK for many years to come; economically, socially and culturally.

PS 525km down. 475km to go.