Are these riots directly associated with the spending cuts? Nope.
I do however believe that acts like are part of a massive melting pot of bad feeling across society at the moment. Be it youths disillusioned with their future, people frustrated by the economic climate, the financial crisis, spending cuts.. whatever. Right now there's plenty of reasons for people to be pissed off, angry, frustrated.. peoples lives are being toyed with, and it's a given that some of those people will snap.
To all the people who say these are just opportunistic rioters. You're right. They're idiots and they need stopping. This behaviour is disgusting and at no point have I condoned it. All I'm saying is that there's obviously a hell of a lot of ill feeling amongst society at the moment, and while not everybody has been pushed to the point of rioting like this, lots and lots of people have had enough.
To a certain extent, I believe the government have started to lose control. Be it in terms of political policy or just controlling idiots like these lot on the streets now.