News Analysis: First cuts unlikely to be the deepest
Chancellor George Osborne wasted little time in announcing £6.2bn of public sector cuts, yet in the uncertain global context it is hard to judge what their impact will be on the UK economy, writes Andrew Tjaardstra.
Where the electorate did not give a clear mandate, the respective leaders of the Conservatives and Liberal Democrats managed an impressive quick-fire coalition agreement to provide the country with some stable government, at least for now.
A raft of measures was announced in the Queen's Speech on 25 May, in the same week that £6.2bn of public sector cuts were introduced. The Liberal Democrats had argued that cuts would hurt growth but party leader and Deputy Prime Minister Nick Clegg appeared
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