12.07.12
Catch-22
Major reform can be a costly exercise, yet often occurs when financial pressures mean the status quo is unsustainable.
So a lack of money means a need for change – change which can be unaffordable in the short-term, thus creating a catch-22.
But there is really only one way to break free of this cycle, and that is to press ahead with the reforms in spite of the expense. The improved system that it aims to embed could then provide savings retroactively.
Without this action, poor performance and high costs could spiral out of control, making the inevitable intervention even more difficult.
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