Sunday, 4 July 2010

Are We Really In For 40% Spending Cuts From Government Departments?

This is the latest story in the media.

Given the horrific extent of the spending cuts already announced by the Coalition, I would like to believe Philip Hammond, the Transport Secretary, when he says such deep reductions in spending are not likely to happen.

I hope he is right.  The economy would not be able to function with such cuts to the public sector.

The worst-case scenario of a double-dip recession would definitely become a reality; a situation from which it would take this country years to recover.

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