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Figures built on flimsy assumptions

The only way government spending esrimates are accurate is if the economy grows

By Jay Elwes  

(Image: FCO)

Yesterday the Chancellor stood up in Parliament to deliver a speech in which he set out his Spending Round. Civil servants’ pay would be frozen, welfare reformed, government spending curbed, departments shrunk and investments made in infrastructure. For more, see here.

The over-all thrust of the day was that Osborne’s government had inherited a shambles from the previous Labour government, which had borrowed and spent too much and cast Britain into a fiscal slough. The Chancellor made…

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