It seems more and more as if this Tory government makes policy as a reaction to any current environment.
The EU referendum was David Cameron’s answer to UKIP but the consequences of that promise have landed the UK in yet another confrontation with the EU and probably months if not years of distractions.
£12bn of cuts is a figured plucked from the air to look good in a manifesto and yet the IFS has stated (reported in the Guardian)
The cuts that the government announces later this year in next month’s Budget and the following Spending Review may turn out to be deliverable. But they certainly will not feel like is just 1% being taken out of each area of spending, nor will it require merely “£13 billion from departmental savings” as the Conservative manifesto described. While not inaccurate, these numbers give a misleading impression of what departmental spending in many areas will look like if the manifesto commitment to eliminate the deficit by 2018–19, largely through spending cuts, while not cutting spending in many areas, is to be met.
But we also hear that George Osborne is keen to sell RBS at a £13bn discount.
Where is the consistency?