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Cuts, cuts, and more cuts.......


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The Institute for Fiscal Studies assessment of the three conteners' proposals for managing the national deficit;



The concluding paragraph:

"It is striking that the parties are all aiming to deliver at least two-thirds of their fiscal tightening through spending cuts rather than tax increases, and that they have not announced any measures that would make big savings in welfare spending over this period. Bear in mind that when the last Conservative government faced the need for a significant fiscal tightening in the early 1990s, we estimate that the then Chancellors Norman Lamont and Kenneth Clarke aimed to split the burden roughly 50:50 between tax increases and spending cuts. This might suggest that all the parties are overambitious in the amount they think they can squeeze out of public services. Whoever forms the next government, that points to greater reliance on tax increases and welfare cuts after the election than the parties are willing to admit to beforehand."

Edited by badgerx16
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