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Brown's legacy spiralling debt and waste

December 7, 2006 5:00 PM

The Liberal Democrats have brandish Gordon Brown legacy of one of spiralling debt and waste. Brown announced an additional 5bn of borrowing a year for the next four years.

Vince Cable, Liberal Democrat Shadow Chancellor said "Given that the next Chancellor will inherit a set of massively expensive commitments - the continuing war in Iraq, ID cards and now Trident - can he guarantee that in meeting these commitments he will not cut essential services, such as pensions, hospitals and policing? This was a chance for the Chancellor to match the brilliant analysis of climate change by Sir Nicholas Stern, who argued for urgent preventative measures costing 1% of GDP. However, the measures announced today amount to only one tenth of that. Where does the rest come from?"

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