Public spending will soon account for almost half the UK economy. Only in world wars has the British state assumed such importance in the past.

Gordon Brown has admitted for the 1st time public spending cuts are just around the corner as he addressed the TUC conference in Liverpool yesterday. We’ve been holding our breath waiting for Mr. Brown to utter the fatal C-word and all of a sudden we hear it four times in 10 seconds in the same speech!

This ‘game’ of waiting to see which senior minister will give in to become the first to admit spending cuts will be needed to tackle Britain’s £175bn deficit was becoming a joke….maybe things are finally changing?

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