Will Spending Review Cuts Be Enough?
20 October 2010The Chancellor is revealing the biggest public spending cuts in living memory. But are they too deep, or do they not go far enough?
Speaking on Jeff Randall Live, Labour MP John Mann claimed that the UK economy was "not out of sync with other major economies".
"I fear the Government will cut too far and too fast, and that will lead to a major recession," he said.
But Nick Seddon of think tank Reform pointed out that the cost of servicing the swollen public deficit was taking much-needed cash from public services.
"We are currently squandering £43bn a year on the interest rates alone and if you don't get that under control, the long-term damage will be absolutely colossal," he said.
"We do need to get moving."
@reformthinktank
