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Cheers - AE

Thursday, 19 March 2009

It's not an increase, it's a cut.

From The Times:
... 80 per cent of the planned tightening comes in the form of cuts in projected public spending, compared with just a fifth from [a new 45% tax band] and other tax increases.
Public spending is now projected to grow by just 1.1 per cent a year on top of inflation over the next three-year spending review period, which begins in 2011-12 and is likely to cover most of the next Parliament.

How is an increase of 1.1% above inflation in any way a cut?
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