Cheerful stuff from David Cameron over the radio waves this morning.

The Prime Minister swept aside the bullshit evasive language of election time and told Britain to prepare for severe cuts, saying that the “momentous” decisions he will take will have “enormous implications” that will affect everyone.

Meanwhile, George Osborne has been setting course to emulate Canada’s attack on the budget deficit, where borrowing was brought under control within just three years by spending cuts of 20 per cent.

Telegraph: Canada brought public spending under control guided by the principle that people should ask “what needs to be done by government and what we can afford to do”.

…

At the height of the Canadian debt crisis in 1994, the country had a budget deficit of around 9 per cent of GDP.

The following year, Jean Chrétien, the Liberal prime minister, unveiled what became known as the “bloodbath budget”, in which departmental spending was reduced by an average of 20 per cent.

By 1997 the deficit had been eradicated. However, health and education budgets were slashed and thousands in the public sector lost their jobs.

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If we were all on a big aeroplane, it’s probably around this point that the captain starts screaming “BRACE! BRACE! BRACE!”