There is no doubt that our public sector faces a cash crunch. In other words, the government is unable to generate enough money to cover its running expenses. The reasons for that are well known and not necessarily relevant to the purpose of this piece. It is the well-known story that diamond sales are flat. On the other hand, there is no discernible appetite to reduce public spending. That is the rub. If anything, we see efforts to continue to bloat government spending.
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