What is the difference between ‘an alternative’ and ‘an addition’? It is on
this question that the Liberal Democrat manifesto turns. If there is a difference, then there is a substantial black hole in their deficit reduction plans.
There is a difference. The manifesto presents a £3.4bn public sector payroll measure as an addition to existing government measures, when in fact the small-print discloses that it’s an alternative. Caught double counting, at best the Lib Dems would cut £36.6bn of the £40bn or so pledged. Under further scrutiny from Andrew Neil and Stephanie Flanders, Cable could not define where a further £10bn of cuts was coming from. £20bn of the remaining £26.6bn of planned cuts to halve the deficit are pre-existing government efficiencies.
The Lib Dems have made fiscal competence and responsibility their issue, but Vince’s imperious ship was demasted in a brutal five minutes.
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