The Spending Cuts (that aren’t spending cuts)

Just a quick reality check: The UK government has postured and made a loud noises about their so-called “spending cuts”, and, indeed, the opposition in the UK have also waxed lyrical about “savage cuts”.

Well, here, courtesy of the office for budget responsibility, are those “cuts”, and the projected “cuts”, in full:

Total Managed expenditure

2012-13: £701.9bn

2013-14: £717.8bn

2014-15: £730.5bn

2015-16: £744bn (OBR figures Autumn 2013)

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