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Further 'eye watering' cuts needed to slash deficit

Further 'eye watering' cuts needed to slash deficit
George Osborne's deficit reduction plan will only get back on track if the Government sets out £48bn of additional spending cuts or tax rises, analysts have said.

The Social Market Foundation and the Royal Society of Arts said the moves were necessary because of unexpectedly high borrowing and lower growth predictions than assumed in the 2012 Budget. Ian Mulheirn, Director of the SMF, said the cuts would need to be “eye watering”.

Green Box: Further 'eye watering' cuts needed to slash deficit Click to open

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