Economy
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Asked if the Prime Minister agreed with the comments made by the Chancellor in the Financial Times that cuts were non-negotiable, the PMS replied that what the Chancellor had said was that we had to get our spending down and we had committed ourselves to halving our borrowing over a four year period.
The PBR was not a public spending round; that was still to come, but clearly over the coming months decisions needed to be made within departments on how savings could be made. Asked if that was the Chancellor’s view or the Prime Minister’s, the PMS said that the Prime Minister’s view echoed the Chancellor’s.
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