The ill wind has blown: What can it all mean?

So now we know – after all the waiting the axe has fallen – but do these cuts represent a ‘hurricane’, a ‘shower’ or just a ‘cold wind’? The Comprehensive Spending Review (CSR) published on 20 October provided details of how Whitehall departments will reduce their budgets over the next four years as ministers look to cut spending by £81bn to address the £935bn national debt and £109bn structural deficit. The Chancellor insists he will stick with budget plans to achieve 77% of the spending cuts, with only 23% delivered through higher taxation. Which commitment will get tested first; to li...