Saturday, January 15, 2005


G8 - the difficulty of cutting public spending

There is growing pressure to make economies more competitive, by cutting public spending.
But cuts are politically unpopular. In the UK, for example, the Taxpayers' Alliance (TPA) has recently reported poor value for money of £81 billion - about 8% of GDP and nearly 20% of total government spending.

"At least £81bn of taxpayers’ money was wasted or spent on useless projects by the government in 2004. We have identified and listed 500 examples of spending that can be cut without closing a single hospital, firing a single teacher or cutting pensions."

"Returning the wasted £81bn to its rightful owners by slashing taxes would make each household in the country on average £3,326 better off – a real boost to millions of families."

"The Tories think just [£1,640] of your money is wasted – and might give some of it back to you. . . But Labour say they only waste £900 of your money and they won’t give any of it back to you anyway."

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