War, Rock and Sebastian Coe
Realistically, this is the pinch of 2 continuing wars (countless billions), nationalising Northern Rock (18bn), paying for the Olympics (3-5bn) and a debt of over 40% GDP.
Astronomy is the first easy target for pen pushers who have no idea (or interest) of what facilities like Jodrell Bank have achieved.
Be prepared for more cuts across more industries as the mire continues... the recession starts here - blame Tony.