It’s a serious question and gets the predictable silly answers.
There will be an election in May and, whoever gets in they, will be faced with Mr. Micawber’s position - Annual income £20.00, annual expenditure £19.99, result happiness; Annual income £20, annual expenditure £20.01, result misery. Except in our case the latter figure is more like £20.33. So this current set of morons will try to do the impossible and borrow their way out of it like a shopaholic on speed. The new lot will have to increase taxes and cut expense just like you or I would (or have) in the same situation. If we had a half decent government they would have already done it.
What will this mean to us? Who knows? If it wasn’t that the City sits on the meridian, the financial centre would soon move somewhere they will be less regulated and taxed. We have little or no manufacturing left — and don’t blame Maggie — the unions were at least equally to blame if not more (Think Scargill).
With all those bankers, pop stars, and footballers moving off to Switzerland there will be even less tax revenue so the “average” earner (as always) will make up the shortfall. There will also be more old people on pensions, so that too has to be financed.
So what’s next? Strikes for sure — The workers who have been unaffected so far are those we pay through taxation — Their jobs are now on the line: Council workers, NHS employees, Civil Servants, Police, you name it they are going to see cuts like never before. I can see the rubbish piling up, people dying for lack of treatment, and the police and fire brigade cut to the bone. Gold plated pensions for those workers will end as well.
All this means less demand for goods because there will be less money to pay for them, and those that have money will hang on to it. So less demand for goods means less goods to transport and fewer drivers earning less money buying less stuff…
My best suggestion would be to get a job connected to the supermarkets and/or food distribution. We will still need to eat, so they will more than survive. Elsewhere the pallet systems will get a bigger share of what’s left; and yes — lots of hauliers will go out of business. Many of them are probably making a loss already, and you can bet that when the last quarter’s figures are in, their accountants will be advising them that it’s time to quit.
The thing is though that we Brits are at our best in adversity. Somehow we will get through it and no one will actually starve to death; we won’t riot and hang any politicians from lamp posts but we will just go on grumbling and complaining and doing what needs to be done.
Happy New Year to One and All