With all the talk of cuts, it is worth remembering that the coalition have pushed through £16 billion of spending reductions compared to Labour's plans for £14 billion. Moreover Government spending has not actually been cut - what has been reduced is the actual rate of increase in spending.
So the Labour Party are exaggerating about the cuts - all for party political advantage.
The latest gimmick has been over he weekend, when the Shadow Chancellor demanded a 'Plan B' and implied the economic recovery plan was not working. He could not answer what Labour plans were, or what the level of debt should be, even though his party is calling for a slow down in the Government's deficit reduction programme. If this were not bad enough, today the IMF said that the Government's economic programme was working and did not need changing - despite Mr Balls indicating that the IMF thought otherwise.
Labour's weakness in economic policy has now been exposed. Electoral history shows that when you lose economic credibility, you lose the credibility of the electorate.
So the Labour Party are exaggerating about the cuts - all for party political advantage.
The latest gimmick has been over he weekend, when the Shadow Chancellor demanded a 'Plan B' and implied the economic recovery plan was not working. He could not answer what Labour plans were, or what the level of debt should be, even though his party is calling for a slow down in the Government's deficit reduction programme. If this were not bad enough, today the IMF said that the Government's economic programme was working and did not need changing - despite Mr Balls indicating that the IMF thought otherwise.
Labour's weakness in economic policy has now been exposed. Electoral history shows that when you lose economic credibility, you lose the credibility of the electorate.
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