What Fraser Nelson seems to advocate is spending cuts of 2.9 per cent of GDP over the next 12 months. That translates into £43.5bn of cuts, rather than the relatively modest £15bn the Coalition has planned. Will the Chancellor take this advice?
What is the difference between Labour’s plan to cut the deficit and the Coalition plan?
Two nuggets prompted this. One was George Osborne’s assertion that the Labour plan set out by Alistair Darling before the election was for spending cuts only £2bn smaller than the £16bn he was proposing for this fiscal year, 2011-12.
The other was [...]
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