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WALDEGRAVE BACKS DOWN OVER LOTTERY FUNDING SUBSTITUTION

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The Guardian (p7) reports that treasury chief secretary William Waldegrave has had to back down from a plan to use ...
The Guardian (p7) reports that treasury chief secretary William Waldegrave has had to back down from a plan to use lottery funds to finance existing government programmes.

And in the Financial Times (p10), Mr Waldegrave is described as trying to sharpen his image as a tough steward of public spending, saying that the government should push state expenditure below 40 per cent of gross domestic product.

Addressing a Conservative party fringe meeting, Mr Waldegrave said that the size of government should be limited and that ministers should have more 'flexible' policy ambitions.

He added that some western economies could afford to have higher state spending than others.
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