Osborne might be firing on all cylinders for hard-and-fast spending cuts, but there are signs that some big savings will be held back until later into the parliament. With the small matter of compensation for existing contracts, along with the costs of mass redundancies, it’s dawning on Whitehall that it might just work out too expensive and impractical to cut as swiftly and as ideologically as they’d like. As such, the The Treasury is now looking to “reprofile” spending cuts to spread their impact more evenly over the coming years.
Welcome to the real world George.
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