Positives from todays results?
Discussion
Big cuts in public spending will soon be announced.
"in the past 100 years, as Lombard Street Research points out in a soon-to-be-published paper Sharpening The Axe, which I will comment on in detail next week, the only time Britain has successfully cut spending has been under a coalition government.
Don't be fooled into thinking Mrs Thatcher did. All she achieved was to make it rise more slowly. State spending was almost as big a proportion of national income at the end of her term as at the beginning.
The only times it fell were in the Lloyd George-led Liberal-Conservative coalition of 1921-22, the Ramsay MacDonald-led National Government of 1931 and the Lib-Lab pact after the IMF's arrival in 1976"
"in the past 100 years, as Lombard Street Research points out in a soon-to-be-published paper Sharpening The Axe, which I will comment on in detail next week, the only time Britain has successfully cut spending has been under a coalition government.
Don't be fooled into thinking Mrs Thatcher did. All she achieved was to make it rise more slowly. State spending was almost as big a proportion of national income at the end of her term as at the beginning.
The only times it fell were in the Lloyd George-led Liberal-Conservative coalition of 1921-22, the Ramsay MacDonald-led National Government of 1931 and the Lib-Lab pact after the IMF's arrival in 1976"
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