yup. and we're still spending less than we 'would have'

By which I mean - government spending went up, on average, by about 6% a year over the pre-recession decade.

Which is reasonable - the economy itself, in cash terms, also grew by 5 or 6% a year, on average, over that period.

and we might assume, if recovery carries on, that the economy will grow by about 5% or 6% a year, in cash terms, over the next few years, too,

But if government spending is only growing by 1 or 2% a year, as is planned, then the share of the economy going on public services is falling quite a bit, over time.

Posted By: Tricky Hawes, Nov 19, 15:57:37