Yes, it could be that serious. Many public libraries are under threat of shorter hours or even closure (20 branches in Oxfordshire alone).
5th February is national Save our Libraries day! Go to your library, borrow books, and (you can do this now) email or write to your MP to defend public libraries.
We should use our public libraries, they're a great resource and once lost, won't be replaced.
See: http://publiclibrariesnews.blogspot.com/ for info about libraries under threat,
and for what to do: