Spending Cuts of 35% Needed to Meet Budget Deficit Targets

Spending Cuts of 35% Needed to Meet Budget Deficit Targets

Influential think-tank the Institute of Fiscal Studies [IFS] said the elephant in the room during George Osborne’s Budget speech was the detail of swingeing public sector cuts planned for the next five years.
The IFS said Osborne’s tax giveaways worth £5B by 2018/19 could weaken the country in the long-run, and came at a time when there was little detail on spending cuts of more than 35% that need to be levied on certain government departments.
Daily Mail [21 Mar]
The solution has always been to spend less and curtail government expenditure rather than seek redress from the taxpayer.

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