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Old 4th Feb 2015, 13:20
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The Old Fat One
 
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reality check time

From the IFS today

Main points

There has been no real reduction in spending on social security

Capital spending has been cut in real terms only about half as much as planned

Protecting health, schools and overseas aid would double cuts in other departments

On current plans tax receipts will be 1% of GDP lower in 2019/20 than 2007/08
The last five elections have been followed by net tax rises of more than £5bn a year in today's terms

BBC article

BBC News - IFS says worst of UK spending cuts yet to come
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