There is some very good journalism in The Times today (paywall, so no point with a link!) discussing the new spending round the Government is about to embark up on and how much ministers are trying to fight off the coming cuts.
As always the Treasury gets the blame and the Ministries decide that the only cuts that can be made are to the Alzheimer's clinic and the Hospital.
The thing is, can the UK really hack this austerity thing? I don't think so, the need is for wholesale privatisations - selling the BBC would be top of my list along with a chunk of the specialist health services and bigger infrastructure. That along with stopping the Government from doing big chunks of what it currently tries to do.
However, there are no votes in this approach from a populace used to the Nanny state; so what to do? I can see the default position being minor cuts, more tax rises and a slow Japan style death with the national debt slowly climbing towards Italian and then Japanese levels whilst politicians hand out the treats to harvest votes.