94% of Con Dem Cuts yet to take place

Tribune reports on ominous findings by the Institute for Fiscal Studies (IFS) that only six per cent of cuts planned during the current Parliament have been implemented. The IFS says Chancellor Osborne’s autumn statement confirms that two more years of austerity than originally intended will be needed, so its own projections should not be seen as controversial. “Since the financial crisis and recession began, a £114 billion hole has become apparent”: http://www.tribunemagazine.co.uk/2012/02/they%e2%80%99ve-only-just-begun-millions-are-feeling-the-pinch-but-94-per-cent-of-the-coalition%e2%80%99s-cuts-have-yet-to-take-place/