Monday, 9 March 2015
Are Labour and the Tories really very different?
Underneath the Election hyperbole, the difference in spending by each party is set to be around £75bn a year by the end of the parliament. This may sound like a lot, but in cash terms, this is around 5% difference in Government spending.
Currently, we are in the budget process at my workplace. Increases or cuts of around 5% mean in the round, no overall change. Nothing is considered difficult until you get to around 10% and then actually difficult cuts start there and above - certainly no redundancies hit until at least 10% is suggested for a cut in spending.
So perhaps the most insightful thing that Ed Balls is telling us today, is that there is very, very little difference between the Party's and as such, the vehemence of the rhetoric has to be turned up very high, to address the paucity of the product on offer.