Even after these spending cuts, total public spending (Total Managed Expenditure) in 2014-15 will be higher in real terms than in 2008-09. At 41 per cent of GDP, this will be around the same level of public spending as in 2006-07. Spending on public services in 2014-15 will be higher than 2006-07 levels in real terms.Where does that information come from? Page 17 pf the full Treasury Report.
Thursday, October 21, 2010
No, not quite
No, this is not quite the salvation the country has been waiting for. The Boss on EUReferendum points out a couple of things about the so-called spending cuts. One is that they are not exactly cuts, merely a decrease in the rate of increase. That most of us realized despite all that cheering and yelling from the camp-followers. But another important matter is that