Who's Getting Their Way On Spending Cuts?

Before the general election, all the main parties agreed that the deficit needed to be tackled over the next 5 years. The country couldn't go on spending £1 in every 4 raised just on debt interest.

The IFS scrutinised the deficit reduction plans of the three main parties in the run up to polling day. They calculated that the Conservatives were pledging £96bn of spending cuts by 2015, while the Lib Dems would cut £80bn.

We now know that these two parties would form a Coalition government. In October they announced their Comprehensive Spending Review. Its figures show that the Coalition will cut £81bn from government spending by 2015.

I know my readers are intelligent souls, so I'll leave you to work out whether £81bn is closer to the Lib Dem £80bn or the Tory £96bn.

Let's not forget Labour in this. The IFS calculated they would make £82bn of spending cuts, only the slightest bit different from the Coalition's £81bn. Labour now oppose every single cut the Coalition is making.