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Tuesday 21 September 2010

The economics of cuts in the real world

'Many of our leading retailers regularly cut costs by at least 2% a year. They do not do so by announcing the closure of the bread department, or by failing to stock milk and butter anymore. They do so by working away at doing more for less. The managers and staff do not parade difficult choices over which costs to cut in our daily newspapers. They know they are all in it together. '

John Redwood on the reality behind defence cuts. At last some sense spoken on the government's cuts.

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