This is nothing we don’t know already but it’s worth having a record of it – for future reference.
The Conservatives’ argument that spending cuts need to be made to reduce government debt is a “smokescreen” for their real mission to shrink the size of the state, the former head of the civil service has said.
Lord Turnbull, who also served as permanent secretary at the Treasury and principal private secretary to Margaret Thatcher, accused George Osborne at a meeting in Parliament of not being straight with the public over cuts.
“The idea that this debt is impoverishing people is I think an economic fallacy,” he told the Chancellor.
“I think what you’re doing, actually that you want a smaller state.
“Why is it so wrong to borrow if you are creating assets at the same time – why are you not looking at the total balance sheet?” he told the Chancellor.
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