Tories plan to double cuts
The Tories’ declared budget plans mean more and more cuts, and at an accelerating rate, in 2015-20. On top of the £25 billion cut from annual budgets between 2010-11 and 2014-5, they would cut another £48 billion from those budgets by 2018-9. The Financial Times estimated the numbers from official statistics and the Tories’ declared intention to have the government budget in overall surplus (current income covering both current and capital spending) by 2020. The Tories plan to do that by cuts, not by taxing the rich. They have offered tax cuts to the rich, on inheritance tax for example. They...