Friday, 11 December 2009

£2,400: the bill every family will pay to cut the deficit

Independent
"The true extent of the financial pain that will be felt by households and public services over the next few years was laid bare yesterday by the Institute for Fiscal Studies. ...To protect the "ringfenced" areas of hospitals, schools and the police, there will have to be savage cuts to defence, housing, transport and higher education budgets. Cuts of almost 7 per cent a year, 20 per cent over three years, mark the severest squeeze since the Second World War, tougher than anything in the austerity years of the 1970s or early 1980s."

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