Beware the secrets and the spin — crude cutbacks are on the way

We are going to see a period of cutbacks now.

The squeeze has begun. And guess what? The cutbacks are going to be crude and simple. And they’re going to hurt people who have no one to speak up for them. And they’re going to be counterproductive

THIS is always how the squeeze begins. In stealth. Usually accompanied by jargon and gobbledygook. Almost never accompanied by a straightforward announcement. A hidden circular, a secret letter, a coded message. Nobody ever stands up and says: “The Department of Finance has told us that we have to cut back this year because they’re not going to reach their targets.”