CSR: Osborne says turning back on cuts will lead to ruin
Chancellor George Osborne has warned that any turning back on the scale of cuts would lead to “the road to ruin”.
Announcing the Comprehensive spending review in Parliament today, Osborne said Government spending will continue to rise over the term of this parliament, from £651bn to £693bn, due to debt repayments.
Responding to concerns about the size of the cuts, he said: “To back down now would be to take the road to ruin.”
He added: “We wil make sure that the financial catastrophe that happened under the last government will never, never, never happen again.”