The details of today's Comprehensive Spending Review will still be emerging, but I welcome any u-turn George Osborne is willing to make on cuts to tax credits and policing budgets which have been key campaigns I have been fighting over the past weeks and months. Sadly those on Universal Credit will still see their living standards squeezed and, after we have already lost 17,000 police officers, no further cuts to policing means little to those police staff who have lost their jobs already. In addition deep cuts are being made to many departments that will have harmful consequences. Cuts to the Department of Transport and Environment, Food and Rural Affairs, for example, will have a detrimental impact on services and jobs locally.
I'm concerned that, despite promises from the Prime Minister that he would have balanced the books by now, the deficit is set to be almost £70 billion this year. In addition to this manufacturing output is still more than 6% below its pre-crisis level. The UK's current account deficit reached the highest level ever recorded last year - 5.1%.
George Osborne is opening a deficit with the future. His choices today will leave future generations to pick up the bill.