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Mandelson: Spending rises unsustainable

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Mandelson: Spending rises unsustainable

Lord Mandelson tells The Economist that the levels of public spending would not have been sustained, even if there had been no financial crisis.

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Derek Emery

 Labour got us into the  position of unsustainable public spending even without even allowing for the crunch. Where's the prudence in that? How come with a year of so of Brown announcing no more boom and bust we have the biggest bust for decades.  What sort of  judgement is that. How many economists would ever believe in no more boom and bust? Politicians reckon they can put in place a mechanism now that will prevent any future bust. They have  to be wrong though we may have to wait for a few decades to prove it.