Apparently when Mr Osborne says he has halved the deficit as a percentage of the economy, he is according to Labour wrong to mention that true figure. He should concentrate on the cash figures, which show the deficit down by one third.
So why then does Labour bang on about the Conservative spending plans for the next Parliament, and claim wicked cuts to get it down to 35% of GDP? Applying their own latest logic, they should accept that Mr Osborne’s plans for cash public spending show further gr0wth of £40bn a year by the end of the next five years. Fair’s fair. If it’s cash we are using, then Conservatives plan rising spending next Parliament.