88% of cuts to come, says thinktank
“By [April] 2012, only 12% of the planned cuts to welfare spending and only 12% of the planned cuts to spending on public services (comprising 34% of the cuts to investment spending and just 6% of the cuts to non-investment spending) are forecast to have been implemented...” So estimates the Institute for Fiscal Studies, a right-wing thinktank whose former chief Robert Chote now heads the Government’s Office for Budgetary Responsibility. The scale of the 88% to come startles even the hard-hearted authors. “Over the next few years, the UK currently has the fifth-largest planned reduction in...