David Mowat today slammed Labour for their incompetent handling of the public finances, after the Chancellor revealed the Comprehensive Spending Review. The Chancellor's plans will eliminate the UK's £150bn deficit by 2015.
The CSR includes money for the Mersey Gateway project as well as protecting money for schools, NHS and security. The Government has also set aside a £1.5bn package to compensate Equitable Life policyholders. The spending on unprotected departments will be cut by 19%: 1% lower than that proposed by Labour.
Mr Mowat said:
"We are spending £120 million every single day just to pay off the interest on Labour's debt – money that goes to foreign creditors to help pay for their schools and hospitals rather than our own. These cuts are Labour's cuts.
"Not only are Labour are still disgracefully refusing to apologise for the carnage they left behind, they have absolutely no plans whatsoever to reduce the deficit. Before the election they promised billions of pounds of spending cuts, but now they refuse to tell us where those cuts would fall. Ed Miliband said he would come up with an alternative to today's review and he comprehensively failed his first test. Until Labour can be honest with the British people about where their axe would fall, no one should take them seriously.
"These cuts aren't pleasant, they are tough and they will hurt, but they are also fair. Two parties are putting aside their previous differences to come together and clean up the complete mess created by Labour".