Freezing spending would substantially cure Britain’s deficit problem
11 March 2013
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Mark Littlewood comments on Dr Liam Fox's IEA speech
Commenting on the Rt. Hon Dr. Liam Fox’s speech on the economy at the Institute of Economic Affairs this morning, Mark Littlewood, Director General at the IEA, said:
“This is a welcome and timely contribution to the debate about how to get the country’s finances in order. For all the government’s talk of austerity, cuts in spending have been feeble. By the end of this parliament, the coalition will have actually added around £600 billion to the national debt.
“The reality is that if spending is to be brought under control, we need to look long and hard at the health and welfare budgets. If these bills are not reduced, then it becomes a much harder task to get close to balancing the books.
“Dr. Fox’s suggestion to freeze public spending for five years at a saving of over £300bn would go a long way to curing the deficit problem that David Cameron and George Osborne have so manifestly struggled to solve.”
Notes to editors
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Communications Officer: 0207 799 8900 or 07766 221 268.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
“This is a welcome and timely contribution to the debate about how to get the country’s finances in order. For all the government’s talk of austerity, cuts in spending have been feeble. By the end of this parliament, the coalition will have actually added around £600 billion to the national debt.
“The reality is that if spending is to be brought under control, we need to look long and hard at the health and welfare budgets. If these bills are not reduced, then it becomes a much harder task to get close to balancing the books.
“Dr. Fox’s suggestion to freeze public spending for five years at a saving of over £300bn would go a long way to curing the deficit problem that David Cameron and George Osborne have so manifestly struggled to solve.”
Notes to editors
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Communications Officer: 0207 799 8900 or 07766 221 268.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
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