" Mr. Osborne says that if his party wins an election, the bulk of savings will come through reducing government spending. The party is in the process of going through individual government departments to see where savings can come from. Still, Mr. Osborne says that he "has not ruled out tax increases."

An area of public spending the Tories are looking at for long-term debt-reduction measures involves government contributions to public-sector worker pensions. The issue is a sensitive one, which when brought up by the Conservatives late last year triggered a round of criticism by the country's unions. With Britons living longer and wages rising, the U.K. currently has an unfunded pension liability that may exceed £1 trillion, Arbuthnot Banking Group estimates. One way to bring this down is to lower the contribution of the government, analysts say.

"Public-sector pensions do need to be reformed; we don't feel bound by any deal done by the Labour Party and the trade unions, the so-called Warwick Agreement, on this," he said. Government and union representatives struck the Warwick Agreement in 2004 to protect workers on issues such as pensions and workplace safety. "

A congratulations to a true deficit hawk. He, no doubt, sees the trouble ahead.  A true Patriots, an Englishman no doubt, who has a vision and plans on making it come true.  Socialism in England may be going the same way to extinction as the dinosaurs. We will hoist a pint of good old English beer in toast to this Englishmen.