Latest Channel 4 News:
Row over Malaysian state's coins
'Four shot at abandoned mine shaft'
Rain fails to stop Moscow wildfires
Cancer blow for identical twins
Need for Afghan progress 'signs'

Tory manifesto: where will the cuts fall?

By Channel 4 News

Updated on 13 April 2010

Channel 4 News Economics Editor Faisal Islam asks: will the sunny optimism exuded by the Conservative manifesto be replaced by dark austerity after the election?

Conservative savings

It is worthwhile thinking what happens if the Conservatives are elected.

On 7 May George Osborne arrives at number 11. He goes to Sir Alan Budd, the former Treasury and Bank of England economist, and asks him, as chair of the interim office of budgetary responsibility, to find out the size of any black hole in the public finances.

Budd then reports back to George Osborne, and Osborne has an emergency budget by June.

The Institute for Fiscal Studies have looked at the Conservative manifesto and they think that tax rises are maybe to come. Interestingly, there's no reference to income tax or VAT pledges in the manifesto, as there was in the Labour manifesto.

Nor is there anything about departmental budgets in the manifesto – you have to go back to previous documents for that.

We are expecting £6bn to be cut from non-priority areas in the current financial year – that’s £6bn from things like education, housing, transport, universities. That equates to a 2.8 per cent cut – that’s £3 in every £100 in those unprotected areas.

If you applied that on average to those unprotected areas, the biggest department is education, and that would work out to be a £1.7bn this year.

The Conservatives assert this can all be done from waste and inefficiency. Channel 4 News spoke to one of the efficiency gurus on Friday. He said he had laid out some detail on this but the Conservatives were yet to publish it.

Send this article by email

More on this story

Channel 4 is not responsible for the content of external websites.

Watch the Latest Channel 4 News

Watch Channel 4 News when you want

Latest Domestic politics news

More News blogs

View RSS feed

Cartoon coalition


How Channel 4 News viewers picture the coalition in cartoon form

Token candidate?

Labour leadership candidate Diane Abbott (credit:Getty Images)

Diane Abbott: I am the genuine move-on candidate for Labour

'Mr Ordinary'

Andy Burnham, Getty images

Andy Burnham targets Labour's 'ordinary' person.

Iraq inquiry: day by day

Tony Blair mask burnt during protest outside the Iraq inquiry. (Credit: Getty)

Keep track of Sir John Chilcot's Iraq war findings day by day.

The Freedom Files

Freedom Files

Revealed: the stories they didn't want to tell.

Making a FoI request?

Channel 4 News tells you how to unearth information.

Channel 4 © 2010. Channel 4 is not responsible for the content of external websites.