So, it’s a day after the largest reduction in UK government spending since the end of World War 2. What have been the reactions?
http://www.bbc.co.uk/news/uk-politics-11592700
On the
BBC website George Osborne is seen defending his cuts as ‘fair and necessary’.
Meanwhile China has increased interest rates and reduced growth forecasts – so addressing the problem of rising inflation – might this dampen world growth?
Some useful data appears at:
http://www.bbc.co.uk/news/business-11582614 - this includes some easy to read charts
The ‘
fairness’ theme is addressed in
The Independent and doubtless this will be the main line of analysis in the coming days
http://www.independent.co.uk/news/uk/politics/welfare-cuts-cast-doubt-on-coalitions-claim-of-fairness-2112311.html
Some excellent graphics appear in
The Daily Telegraph at
http://www.telegraph.co.uk/news/newstopics/spending-review/8077222/Spending-Review-the-winners-and-losers-by-Government-department.html
For those with more time a visit to the IFS is always a thoughtful read:
http://www.ifs.org.uk/
finally....
Mr Johnson (Shadow Chancellor) ridiculed the government’s claim that it had the backing of the IMF and other international institutions such as the OECD for its deficit reduction programme.
So, too had the Irish minister of finance last summer when he set out his own austerity plan, he pointed out: “Four months later Ireland slid back into recession’’
Doubtless the debate will roll...
Enjoy your half term