Still one day to go

Until life resumes as normal in Scotland after the Christmas and New Year frenzy. It will be interesting to see how things go here in the UK with the big spending cuts making their presence felt. Today the rise in VAT (now 20%) takes place. With the growth of our economy firmy reliant on consumerism, it is difficult to see how the government thinks things are going to improve. On the one hand government departments are demanding huge cuts in expenditure, and on the other they are asking university students to fork out up to £9K in university fees. It doesn't make sense. Of course the university fees are borrowed in most cases and not required to be paid back until the student is earning 20K per annum. But it is still a huge debt burden for both students (mentally) and the government (to actually shoulder) to bear. It would be interesting to see what percentage of the money already lent to students has been paid back.