I don’t want to rabbit on about what the impact might be of the Chancellor’s speech today at 12:30. People who read this blog will already know that there is a great risk to the economy if the coalition don’t pull this off.
Basically, providing the economy keeps growing, the cuts can be sort of off-set. If the public stops spending, then these cuts will run deeper and harder, causing a double-dip recession.
I’d like to know what you all think of the cuts. All comments welcome after George Osbourne has broken the bad news!