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WARNING AGAINST PUBLIC SPENDING FINANCED TAX CUTS

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A crisis looming for Britain's public services will deepen if any tax cuts in next month's budget are financed by c...
A crisis looming for Britain's public services will deepen if any tax cuts in next month's budget are financed by cutting public spending, the Institute for Fiscal Studies and Goldman Sachs warned yesterday, reports the Financial Times (p24).

Predicting the chancellor would cut government spending by £2.5bn, Goldman Sachs chief economist, said that cuts were already making it increasingly difficult to maintain the universal provision of public services. 'Someone somewhere is going to have to face up to that,' he said.
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