Despite the picture the government is trying to draw about how they are coping with the economic crisis, some economic institutions are drawing vastly different conclusions. 'The plans set out by George Osborne in the Autumn Statement on Wednesday will require government spending cuts "on a colossal scale" after the election, an independent forecaster has warned. The Institute for Fiscal Studies (IFS) said just £35bn of cuts had already happened, with £55bn yet to come. The detail of reductions had not yet been spelled out, IFS director Paul Johnson said.' (BBC News, 4 December) The reason for the vagueness about future welfare cuts is of course the approaching election. RD
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