It wasn't until November 2008 - a whole 15 months after Northern Crock went south and several months after Bear Stearns and Lehman Bros alerted even the doziest that something was wrong - that Gideon and Dave dropped their mantra of "matching Labour's spending plans".
The good news is that Dave and Gid kept their word and did drop Labour's insane spending plans. The bad news is that they're now splurging even more than Brownturn did. As Jeff Randall put it a year ago:
Total government outlay is set to go up this year , next year and every year thereafter to 2014-15. According to estimates from the Office for Budget Responsibility, the figures will be £696 billion in 2010-11 (up from £669 billion in 2009-10), then £699 billion, £711 billion, £722 billion and £737 billion. These sums are not inflation-adjusted, but even so, they belie the idea that a demon barber is about to "polish off" the Budget
And still al-Beeb and the MSM scream "Cuts!"
Oh, if only.http://www.telegraph.co.uk/finance/comment/jeffrandall/8007556/The-Coalition-is-spending-even-more-than-tax-and-waste-Labour.html