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Cuts should be based on economic indicators not political dogma

February 3, 2010 4:20 PM

"When to start cutting public spending and by how much should be based on economic indicators, not political dogma" said the Liberal Democrat Shadow Chancellor of the Exchequer

Commenting on today's Green Budget from the Institute for Fiscal Studies (IFS), Vince Cable said:

"There is still massive uncertainty over the outlook for the British economy so it is critical that the Government has a plan to tackle the public finances which is flexible enough to adapt to the changing economic situation.

"The IFS is right to point out that cutting spending further this year would be extremely dangerous given the weakness of the economy. It is no surprise that the Tories are now desperately trying to play down their desire to do just that.

"When to start cutting public spending and by how much should be based on economic indicators, not political dogma."