It will hurt, but we'll be better for it.

Finally there appears to be signs that there is an opposition to government. This country always needs an effective opposition, regardless of your party loyalties.

But (as often happens) how easily this opposition forgets.

Banks are starting to announce profits. This is a good thing. If a bank can't make money in this country they will cease to operate in this country.

Banks are being taxed (they always have been) - there are some who would like to see banks stripped of all their profits. That is just plain wrong, and would be illegal. A bank has just as much right to make a profit as any other business.

The more profit a bank makes, the more tax they pay. Same with any business. The country needs companies/banks making large profits.

Yes, we bailed some of them out - yes, some of them acted irresponsibly.

Do not forget that we still own the shares of the banks we bailed out, we will get our money back - plus, hopefully, a tidy profit - but only if those banks are successful. Tax them to obliteration and we lose our money, plus future revenues.

What is important is further regulation of banks, but it is a balancing act. Regulate too much and they move overseas. Regulate too little and you risk a repeat of the banking collapse.

But, I digress, back to my point, the opposition forgetting...

The banks were PARTLY to blame for the current crisis. A large part, yes, but still just a part.

Nobody should forget the outrageous "credit card" spending of the last government. This is what has really led to our massive deficit. No country/person/organisation can operate this, and it must be reigned in.

This is the number one priority for our country. We cannot carry on with these ridiculous levels of debt.

Gordon Brown gambled on economic success by spending money he hoped would be generated from future taxes. The actions of the banks may have led to his gamble failing, but that doesn't take away the blame from him in placing that bet. You gamble, you stand to lose. He did.

A swift return to these policies will be a disaster. The cutbacks will be hard, they are already starting to bite in some areas - but it's a price that has to be paid. We have no choice. Carrying on with these levels of debt is unsustainable.