In response to George Osborne's speech this morning, IEA Editorial Director Philip Booth said that the Chancellor should cast his net wider than the welfare budget for areas to cut spending.
Philip said: "David Cameron's promise to increase pensions in real terms, more or less no matter what economic conditions prevail, is irresponsible and completely at odds with the Chancellor’s rhetoric. Areas such as health, schools, foreign aid, HS2, pensions and other benefits for older people should all be considered as areas in which savings can be made.
In the context of the long-term fiscal position, the government’s promises are both reckless and inconsistent even with George Osborne's limited ambitions to cut spending."
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