Thursday, 25 February 2010
George Osborne won't tell us what or how
The shadow Chancellor of the Exchequer has been at it again.
The report reads as follows:
"George Osborne would set out the scale of cuts required to start tackling Britain’s debt mountain within weeks of taking office, he said last night.
And by the autumn a Conservative government would identify the savings required of every government department, the Shadow Chancellor said.
Mr Osborne, delivering the prestigious Mais lecture at the Cass Business School in London, said that without immediate action Britain risked losing its economic sovereignty.
Credit agencies would take fright, interest rates would rise and recovery would be undermined without prompt action, he said as he laid out a three-point plan of action should the Tories take office.
A new Office for Budget Responsibility would publish an independent audit of the public finances within weeks so the country could see the true scale of the challenge ahead, he said.