|The Bowery - New York Bread Line...|
Hopefully Stewart Jackson MP and his fellow Conservative buddy (ever the optimist) Cllr Marco Cereste, the Dear Leader of Peterborough City Council (no overall control) will have read the shocking statement issued by the Institute of Fiscal Studies earlier today, as they drill down into the Autumn Statement. It has to be understood The Treasury is yet to reveal the shape of future government spending cuts.
So any Peterborough Budget funding or allocation decisions being deferred to phase two or later, ( ie after the 2015 General Election) will find the money pot for all unringfenced projects (ie Peterborough City council funding bids) will be refused and clearly won't be funded by Central Government, (writes Julian Bray) "Its as if Central government is sending a fiscal wrecking crew into the City of Peterborough, and no one is challenging Westminster."
The Fabian Society are also saying the Chancellor is taking the nation into fiscal reduction areas that are not backed by electorate.
In addion the Lib Dems have now issued a formal statement underlining they have not as a party signed up for anything beyond the General election next May. To add to the mess, the Conservatives are now picking a fight with the BBC claiming that reporting of the statement has in effect been distorted. Andrew Neil on the influential Daily Politics programme has suggested that if any politician has a problem they should deal directly with him and not the BBC Press Office.
He claims the detail of reductions had not yet been spelled out. As a result, he said it would be wrong to describe them as "unachievable". However, voters would be justified in asking whether the chancellor was planning "a fundamental reimagining of the role of the state", Mr Johnson was speaking to a conference in central London..
If reductions in departmental spending were to continue at the same pace after the May 2015 election as they had over the past four years, welfare cuts or tax rises worth about £21bn a year would be needed by 2019/20, at a time when the Conservatives were committed to income tax cuts worth £7bn, according to the IFS.
Mr Johnson added: "One thing is for sure - if we move in anything like this direction, whilst continuing to protect health and pensions, the role and shape of the state will have changed beyond recognition."
The scale of the Conservatives' planned spending cuts after 2015 would mean the role of the state would change "beyond recognition", the head of the Institute for Fiscal Studies has said.
The IFS said £35 billion of the cuts in spending by Whitehall departments have already happened, with £55 billion yet to come.
Sources: IFS, BBCNews, ITVNEWS, SkyNEWS and CNS
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