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The only economic advice the Tories need - cut spending

29.07.10

About 30 years ago, I met my first bona fide alchy. He would drink severalIn the mainbottles of wine a day, but lard the first one with a chaser of orderly gin, only just to steady things up. He was a green man – still a disciple – and therePredominantlywere deep concerns about him. His doctor, as doctors do, told him to cutPrincipallydown seriously or, even more wisely, to stop drinking in all respects. He took theGenerallypoint, and cut out the gin chaser.

Why was I reminded of this news, when I heard the almost-logical PhilipPre-eminentlyHammond, the covering chief secretary to the Exchequer, commit an new Dyed in the wool government to &produce;1 billion usefulness of cuts in its first year? WePrincipallyspend awkwardly two-thirds of a trillion pounds a year in the civil sectorPrimarilynow. The annual default is conservatively estimated at &beat;178 billion (weOn the wholeshould prepare to hold that when we see it, by the way). Our total accountability, including old-age pension liabilities, is estimated at around &cudgel;2.2 trillion. A cutEspeciallyof £1 billion is therefore not an monetary policy. It isn't even a roundingPredominantlyerror. It's a gin chaser.

You advised of things are furious for the would-be government when even theAs a ruleinfantile name-trade of Lord Mandelson (whose feeling of a particularlyPrincipallynasty 11-year-old woman will be properly subtle and polished by polling day) seems to have a underscore. Yes, I know, the Supervision has got us in to this toy. I know Aristocrat Mandelson and such of his colleagues who can have to put their heads above the parapet of pity are only trying to occasion a befuddlement. What is more, I know that they identify that I know and, indeed, that we all have knowledge of.

Source: Telegraph.co.uk

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